Forming Company For 1 Year Non-immigrant Visa?

[cdnmatt]

Currently in Thailand on my second 60 day tourist visa, which I know can be extended to 90 days within country. I'm looking to make more of a permanent move out here though, and although places likes Siam Legal claim to guarantee "almost" 100% approval of your 1 year multiple entry, I'm not quite sure how this works. After reading through the Thai government website extensively, I don't qualify for any category available for a 1 year visa.

I'm 28, software entrepreneur, make more than enough cash to satisfy the government that I can afford to live here, etc. Yet, I don't work for a Thai company, have no desire to, not a teacher, not going to school, not here for religious studies, not an investor, etc, etc. I'm just simply a guy who enjoys Thailand, bringing in money from foreign sources, and spending it here. So how can I possibly get a 1 year?

The best I can find is forming my own Thai company, and dumping 2,000,000+ baht into a bank account, then hiring myself. From there, I can get a B visa, or at least that's what I've read. Do I actually need to transfer 2 million+ baht into a Thai business bank account to make this work? Do I need to hire 4-5 Thai employees? Even if I do go ahead and register the company, what's the chance of approval of a 1 year? Is the government just going to laugh at me, and tell me to fuc_k off, or actually approve the visa?

On the flip side, I've talked to lots of people who have gotten 1 years with no problem at all. They just kinda shrug their shoulders at it, as if it's nothing. Is that true? Oh, and I'm a Canadian citizen by the way.

Any advice from those that have been through it would be appreciated! I would love the peace of mind knowing I can stay for a year, plus have multiple entry so I can small tourist trips to other countries when wanted, instead of being stuck in Thailand unless I want my visa to expire.

Edited October 12, 2009 by cdnmatt

[PoorSucker]

Simple, buy a existing "holding company".

If you make a new one you can not get extension of stay until the company is two years old.

Should cost you about 40.000 baht. (20.000 baht for owner ,rest for lawyer and tea money)

This is the about the cost to un-register a company in Thailand.

Just make a proper audit that the company does not have any outstanding debts.

Still you must employee four Thai National (2 if married to Thai) to get your Work permit..

Here is the rules for getting a Non-B (business) visa.

This does not include the rules how the get a work permit.

Source : Ministry of foreign affairs.

Here's also some info from Ministry of labour.

PS.

There is a lot of software engineers trying to "do the thing from here" 98% website loosers.

I have a degree both from Sweden and Minnesota in Comp Sc and 16 years experience, and it's still hard.

DS

Edited October 12, 2009 by PoorSucker

[thaiphoon]

To establish your own business in Thailand you would need to set up Thai company which would need to be capitalised at minimum of THB 2million (THB 1million if married). 25% of that amount needs to be paid up, ie, paid into company's bank account to run the business. The balance can show in company accounts as money due from the shareholders. Farangs can only own a maximum of 49% of the shares in the company so you need Thai shareholder(s) for the remaining 51%. There are restrictions as to what businesses farangs can operate as detailed in the Foreign Business Act. You need to employ 4 Thais (2 if married) to obtain a work permit sponsored by your company; working in Thailand without a work permit is illegal and the penalties can be severe.

Have a look at the following link for more information

http://www.boi.go.th/english/how/legal_iss...n_investors.asp

You cannot obtain 12 month extension of stay based on employment for 2+ years, as is requirement to provide 2 years audited accounts and tax receipts. You would therefore have to accept in the interim period being on Non-B visa and having to make border runs every 90 days.

As PoorSucker says, buying an existing company may be an alternative option, but you would need to proceed with caution and obtain good legal advice as is not without risk. Do some research whilst you are over here. There are many "wannabees" who make the move here and fail to fulfil their dreams.

[Forkinhades]

why not work for thai company part time, let them sort out the work permit (which you can pay for) then do your job the rest of the time

[OnNutter]

If Canada works the same as the UK, you could buy an off the shelf limited company (UK price from £99) with yourself named as a company director. This company can remain dormant so long as you notify Company house or it's Canadian equivilant each year that the company is not trading. As you do not intend to work here for a Thai company and only wish to stay here for ''information gathering or to purchase for export'' then you do not require a work permit if acting in the capacity of the said company, there is no requirement to deposit monies in Thailand or employ anyone.

The procedure is straight forward, send the completed visa application forms together with your company documents to the Thai consular in your home country who should then issue you with a twelve month multiple entry catagory B visa without a problem (you must exit every 90 day, but a border run covers this).

This is the way it works in the UK and Australia and I presume being a Commonwealth country Canada would be the same.

Best wishes in you efforts.

[thaiphoon]

The procedure is straight forward, send the completed visa application forms together with your company documents to the Thai consular in your home country who should then issue you with a twelve month multiple entry catagory B visa without a problem (you must exit every 90 day, but a border run covers this).

You may be able to con the embassy/consulate first time round to give 12 month non-B visa based on a flaky invitation letter, but second time around you will need to produce company documents/accounts and work permit to renew the visa.

Edited October 12, 2009 by thaiphoon

[PoorSucker]

And no way you'll get a WP.

Edited October 12, 2009 by PoorSucker

[bazmlb]

I have been told the new rules when forming a company also require the Thai shareholders to have 600,000 baht in the bank for 6 months prior to the company setup.

Directors also can only be Thai for the first 6 months of a newly formed company as well now.

[taffylee]

Currently in Thailand on my second 60 day tourist visa, which I know can be extended to 90 days within country. I'm looking to make more of a permanent move out here though, and although places likes Siam Legal claim to guarantee "almost" 100% approval of your 1 year multiple entry, I'm not quite sure how this works. After reading through the Thai government website extensively, I don't qualify for any category available for a 1 year visa.

I'm 28, software entrepreneur, make more than enough cash to satisfy the government that I can afford to live here, etc. Yet, I don't work for a Thai company, have no desire to, not a teacher, not going to school, not here for religious studies, not an investor, etc, etc. I'm just simply a guy who enjoys Thailand, bringing in money from foreign sources, and spending it here. So how can I possibly get a 1 year?

The best I can find is forming my own Thai company, and dumping 2,000,000+ baht into a bank account, then hiring myself. From there, I can get a B visa, or at least that's what I've read. Do I actually need to transfer 2 million+ baht into a Thai business bank account to make this work? Do I need to hire 4-5 Thai employees? Even if I do go ahead and register the company, what's the chance of approval of a 1 year? Is the government just going to laugh at me, and tell me to fuc_k off, or actually approve the visa?

On the flip side, I've talked to lots of people who have gotten 1 years with no problem at all. They just kinda shrug their shoulders at it, as if it's nothing. Is that true? Oh, and I'm a Canadian citizen by the way.

Any advice from those that have been through it would be appreciated! I would love the peace of mind knowing I can stay for a year, plus have multiple entry so I can small tourist trips to other countries when wanted, instead of being stuck in Thailand unless I want my visa to expire.

Look into the BOI free zones.

Work Permit exemption, 100% foreign ownership no requirement for Thai staff and tax free status for up to 8 years..

[OnNutter]

The procedure is straight forward, send the completed visa application forms together with your company documents to the Thai consular in your home country who should then issue you with a twelve month multiple entry catagory B visa without a problem (you must exit every 90 day, but a border run covers this).

You may be able to con the embassy/consulate first time round to give 12 month non-B visa based on a flaky invitation letter, but second time around you will need to produce company documents/accounts and work permit to renew the visa.

Not so, this method has been used for many years by several friends of mine, in the UK and Austrailia. it is not based on an invitaion letter, no need to produce company accounts or work permit, this is an offshore company and the consulars have never questioned the validity of the visits.

[OnNutter]

And no way you'll get a WP.

The OP stated that he did not wish to work in Thailand , so no need for a W/P

[OnNutter]

As a further point of interest on the matter, I know of one British husband and wife who live here, both of whom are directors of the same UK based import company and because she has two young children whom she cannot leave with anyone has been exempted from the need to do border runs, she just reports every ninety days!

So you see, foreign company ownership has many advantages

[Farangbah]

Look into the BOI free zones.

Work Permit exemption, 100% foreign ownership no requirement for Thai staff and tax free status for up to 8 years..

Interesting. Where can i find more information about the free zones in Thailand?

[OnNutter]

Look into the BOI free zones.

Work Permit exemption, 100% foreign ownership no requirement for Thai staff and tax free status for up to 8 years..

Interesting. Where can i find more information about the free zones in Thailand?

You will find information here: http://www.boi.go.th/english/about/boi_pri...by_location.asp but this again is far too complicated a way for your needs, as you will see the BOI are aiming this at manufacturers who of course will make considerable investment in plant and machinery...something I don't think you want to do.

Read my previous post about foreign registered businesses and go look at the consulate websites for Canada, they are in Vancouver, Ottowa and Calgary. from what I can see it looks no more complexed than I previously stated, exept in Canada you need a tax clearance certificate to show at the Canadian port of exit, this is not a requirement in the UK.

The cost cost of a mulitiple entry B visa is $175 and available from any of the aforementioned consulates.

The method I have outlined works and is proven, the cynics on this thread have obviously not experienced this way of being legitimately able to stay in Thailand, I have!

My UK registered business is not dormant and is in export trade but I know many people, as stated, who obtain visas through non-trading dormant foreign companies.

Given that you don't want to make a BOI investment In thailand, don't want to have a Thai company, don't want to work for a Thai company, don't have a Thai wife, and are not of retirement age...all of which will cost you a conciderable amount of investment, including the Thai wife! You only have this one option left to obtain a twelve moth visa.

Do your homework and talk to others, but believe me this is the easiest way.

Edited October 13, 2009 by OnNutter

[StasD]

Maybe it is the time to forget Thai and remember Cambodia? 300USD a year and no more problem

[monty]

I have been told the new rules when forming a company also require the Thai shareholders to have 600,000 baht in the bank for 6 months prior to the company setup.

Directors also can only be Thai for the first 6 months of a newly formed company as well now.

Not exactly sure on the new requirements re Thai shareholders, but they have been tightened. Especially with capital requirements. Just tried and the main problem was that the registered capital had to be actually in the bank, and for the foreign shareholder had to be proven coming from outside of Thailand .

But, when setting up the company with only Thai shareholders/directors, non of those special requirements have to be met.

edit: this was Chonburi registration department!

[thaiphoon]

I have been told the new rules when forming a company also require the Thai shareholders to have 600,000 baht in the bank for 6 months prior to the company setup.

Directors also can only be Thai for the first 6 months of a newly formed company as well now.

Not exactly sure on the new requirements re Thai shareholders, but they have been tightened. Especially with capital requirements. Just tried and the main problem was that the registered capital had to be actually in the bank, and for the foreign shareholder had to be proven coming from outside of Thailand .

But, when setting up the company with only Thai shareholders/directors, non of those special requirements have to be met.

edit: this was Chonburi registration department!

Not sure about the capital requirement, but I have heard the same story about requirements being waived for "Thai owned" structure. My lawyer advises to set up company initially with Thai shareholders and Thai directors and then change shareholders/directors 30 days later. And can reduce number of directors down to one

[OnNutter]

I have been told the new rules when forming a company also require the Thai shareholders to have 600,000 baht in the bank for 6 months prior to the company setup.

Directors also can only be Thai for the first 6 months of a newly formed company as well now.

Not exactly sure on the new requirements re Thai shareholders, but they have been tightened. Especially with capital requirements. Just tried and the main problem was that the registered capital had to be actually in the bank, and for the foreign shareholder had to be proven coming from outside of Thailand .

But, when setting up the company with only Thai shareholders/directors, non of those special requirements have to be met.

edit: this was Chonburi registration department!

Not sure about the capital requirement, but I have heard the same story about requirements being waived for "Thai owned" structure. My lawyer advises to set up company initially with Thai shareholders and Thai directors and then change shareholders/directors 30 days later. And can reduce number of directors down to one

And you going to trust these Thai shareholders/directors to hand it to you in 30 days time! how many times a day are Farangs rippped of here in the LOS (Land of scams) if you have spent any time here you'll know to treat everyone very cautiously..especially those who could benefit finacially from their association with you. Did the lawyer, by any chance, offer to provide the shareholders? To set up a company in which you have no initial legal control or stakehold is sheer lunacy and would advise extreme caution.

I bet you would'nt go into business in your home country on those terms would you, so why do it here!

[thaiphoon]

There are plenty of professional/reputable firms here that can help you. I know as I have done it, as indeed have many others. Not everyone in Thailand is crooked. If that is your perception then you have not been here very long or have not opened your eyes.

[OnNutter]

There are plenty of professional/reputable firms here that can help you. I know as I have done it, as indeed have many others. Not everyone in Thailand is crooked. If that is your perception then you have not been here very long or have not opened your eyes.

Yes, I am aware that not everyone in Thailand is crooked, but my eyes are very much open and have been for a long long time. if they were not I would not be aware of the outrageous business pratices that go on in Thailand. You my friend may like to don rose coloured glasses and believe everything is sweet In Thailand but for every falang who has had a smooth business set up (oh, of course that will also require tea money in the right places!) there are twenty who have been stung by business partners, wifes, lawyers, employees, etc.

I would suggest, that if you have not been exposed to any of the above, you are either extremely lucky or have not been in business in Thailand that long.

A fool and his money are easily parted, most of them come to Thailand expecting thing to be like back home when it comes to business, but soon find diffently to their cost!

Corruption rules in everyday life in Thailand and business is no exception, the Thais know it and so do the switched on Farangs.

By the way, I have an Honours Degree in Business and Finance and an MBA in Business Administration, just to quailify my opinion.

Edited October 13, 2009 by OnNutter

[thaiphoon]

No rose coloured spectacles here. Maybe I've been "lucky" to use your word but I would use the word "careful". I have been here many many years with own Thai company, never any problems. Yes people can get badly stung here for sure, but that is no different from being back home. You just need to be careful, same as you would back home. Yes there is corruption here, but that is not restricted to Thailand. You have to accept the country as it, warts and all. Love it and stay or hate it and leave. As for tea money, I have never ever paid any. So it is possible, if you know the right people, to get business done in an 'above board' manner.

"A fool and his money are easily parted". Couldn't agree with you more on that one sir

Edited October 13, 2009 by thaiphoon

[OnNutter]

No rose coloured spectacles here. Maybe I've been "lucky" to use your word but I would use the word "careful". I have been here many many years with own Thai company, never any problems. Yes people can get badly stung here for sure, but that is no different from being back home. You just need to be careful, same as you would back home. Yes there is corruption here, but that is not restricted to Thailand. You have to accept the country as it, warts and all. Love it and stay or hate it and leave. As for tea money, I have never ever paid any. So it is possible, if you know the right people, to get business done in an 'above board' manner.

"A fool and his money are easily parted". Couldn't agree with you more on that one sir

I totally agree that you need to be very ''careful'' and I'm glad you are one of the ''switched on'' Farangs, but I'm sure you would agree with me that the incident of Farangs being burned here is higher than it would be in their homeland...but it is their own fault, they arrive with a dream of staying and making a living here...without the acumem or research required to achieve their goal, as the old adage goes, fools rush in........

The love of the country, and all it has to offer is so appealing, after all that's why we are here and so many wish to join us, I just wish there was more transparency in business dealings here. The goverment are aware of the damage corruption is doing to the country and are doing their best to counteract it, taxi touts at airport, gem scams, etc. But for now the problems remain...So for me, I still maintain the sceptism of a old business hand and tread with extreme caution!