Security Deposit Per Foreign.

[hanzilavoka]

I'm from Singapore. I have a friend that has a company here. He want me to work for him so i can stay here with work permit. The problem is he want me to pay for the Sercuity deposit of 2 million baht that he claim that the Thai government want this money that any company want to employ a foreigner. Is there such thing?

[PoorSucker]

No.

Only a rule that the company must have 2 million baht on the balance sheet.

Is he starting a new company for you?

[hanzilavoka]

No. The company already 2 years old.

[thaiphoon]

2 million baht is also the minimum amount of registered share capital required to issue one work permit (except where married to Thai where figure drops to 1 million baht).

[Pib]

Sounds like your employer wants you to pay his funding requirements.

[Soutpeel]

Sounds like your employer wants you to pay his funding requirements.

Yeap...some friend you have...

I know everyone complains the cost of work permits is expensive. but this is taking the p*ss me thinks

For this sort of money you could open up your own company...

Bare in mind the THB 2.0 million is capitalisation, which may not actually mean THB 2.0 million cash in the company...suspect your "friend" is scamming you...

[ericthai]

Your friend is not your friend. You can start your own company, keep the money 2 million in the bank and only pay the tax fee on the 2 million for the capitalization of the company. You have other options. You can study thai and this will qualify you for a visa.

[hanzilavoka]

Thanks everyone here.

Soutpeel you are right i think he is trying to scam me and the saddess thing is we came from the same country. OMG!

Ericthai: Yes, i have thought of taking up language course here to have a 1 year visa. Hope can find one near my place