Extension Based On Company Shareholder

[taninthai]

Hi

I have acouple off questions is it possible to get non imm o. Extended on the basis off being a shareholder in a thai limited company

next does it make any difference to the wp application if you are a shareholder in the company

many thanks

[lopburi3]

No and no. A work permit would require employment and is based on that.

[taninthai]

Thanks for quick reply am I right in thinking that there is no problem in a ferang shareholder getting a work permit for the same company he is a share holder in

so the only way to extend non imm o is either work permit or getting married is this correct

Edited March 31, 2011 by taninthai

[InterestedObserver]

Thanks for quick reply am I right in thinking that there is no problem in a ferang shareholder getting a work permit for the same company he is a share holder in

so the only way to extend non imm o is either work permit or getting married is this correct

You are mixing company ownership = shareholder, employment = work permit, and extension of stay = immigration. Not the same and all have different rules that apply.

[taninthai]

Okay ihavent explained myself to well so here we go my girlfriend has been running a bussiness it's not registered no taxes paid I want to get involved so we aregoing to register a limited company with 3 shareholders 2 thai 1 ferang me being the ferang then we are going to apply for a work permit for me then I can get extension based on work permit.

Does all that sound ok

[InterestedObserver]

A 1 year extension of stay based on employment from immigration requires complete company documents including annual audited financial statement and tax returns, both the companies and yours. It will take you a couple of years to get all this together from the start. In the mean time the best you could do would be to make 90 day border runs with a multiple-entry non-immigrant "B" visa, which you can get with a work permit.

Edited March 31, 2011 by InterestedObserver

[muratremix]

A 1 year extension of stay based on employment from immigration requires complete company documents including annual audited financial statement and tax returns, both the companies and yours. It will take you a couple of years to get all this together from the start. In the mean time the best you could do would be to make 90 day border runs with a multiple-entry non-immigrant "B" visa, which you can get with a work permit.

Is this for real?

So you set up a company, and you can't get a WP from your own company in first year(s)?

It sounds insane, even for Thailand!

[Maestro]

You can apply for a work permit, at the Department of Employment, immediately after the company is registered.

The information posted by InterestedObserver is about an application for a one-year extension of stay for the reason of employment, at your local immigration office.

[PoorSucker]

1. The business must be registered in Thailand.

2. The company must be capitalized to at least Baht 2 Million while operating fund must be at least Baht 1 Million.

3. The company must have a ration of at least 4 : 1 - Four Thais for every foreigner.

4. You must earn at least in accordance with the level specified for each nationality by the Labour Department.

[kalseo]

Okay ihavent explained myself to well so here we go my girlfriend has been running a bussiness it's not registered no taxes paid I want to get involved so we aregoing to register a limited company with 3 shareholders 2 thai 1 ferang me being the ferang then we are going to apply for a work permit for me then I can get extension based on work permit.

Does all that sound ok

You are wrong, you can not get work permit in this situation. You need 4 Thai workers to qualify for work permit

[OZinBKK]

The business has to be set up for at least a year.

I've got the same dealio.

Your only bet is a marriage visa, unless you get a job elsewhere.

[nmw]

The information above is correct, i have just been through the entire process.

You need to form a company with 2Million BHT Capital.

You need to invest 1Million BHT into the business, and show it in the business bank account, and use it for the business

You must have at least 4 local employees, this can include your girlfriend, but ensure they are registered employees, receive proper pay-slips, and are paid via the bank.

Your company must demonstrate it is turning over and making money

All local and Thai regulations for employees must be fully adhered to.

Your accountant can then apply for employment clearance from the whatever office, which entitles the company to offer you a job.

You then need to get a 3 month visa (i got the NON Imm B1 business visa)

This is then extended to a work permit

You also need a medical clearance certificate, to state you are of sound mind, not an alcoholic, and do not have elephantitus. (any hospital/ doctor can provide)

The wait and and it should be fine.

In all honesty, i would say 12 months to actually get everything complete, in the mean time, continue with the border runs.

Your shareholding is totally irrelevant.

[lannaswdt]

The information above is correct, i have just been through the entire process.

You need to form a company with 2Million BHT Capital.

You need to invest 1Million BHT into the business, and show it in the business bank account, and use it for the business

You must have at least 4 local employees, this can include your girlfriend, but ensure they are registered employees, receive proper pay-slips, and are paid via the bank.

Your company must demonstrate it is turning over and making money

All local and Thai regulations for employees must be fully adhered to.

Your accountant can then apply for employment clearance from the whatever office, which entitles the company to offer you a job.

You then need to get a 3 month visa (i got the NON Imm B1 business visa)

This is then extended to a work permit

You also need a medical clearance certificate, to state you are of sound mind, not an alcoholic, and do not have elephantitus. (any hospital/ doctor can provide)

The wait and and it should be fine.

In all honesty, i would say 12 months to actually get everything complete, in the mean time, continue with the border runs.

Your shareholding is totally irrelevant.

Newbie is generally correct, though I completed the entire process in about 1 month, don't know why it would need to take 12 months. Note, however, that there are some slight variations in work permit requirements based on the nationality of the applicant. Also, don't forget that the initial application for the visa needs to be done in a Thai consulate abroad. I did mine in Singapore, but could have gone home to the US and done the same thing. Application for a work permit is done here in Thailand, by the employing company.

[InterestedObserver]

Newbie is generally correct, though I completed the entire process in about 1 month, don't know why it would need to take 12 months. Note, however, that there are some slight variations in work permit requirements based on the nationality of the applicant. Also, don't forget that the initial application for the visa needs to be done in a Thai consulate abroad. I did mine in Singapore, but could have gone home to the US and done the same thing. Application for a work permit is done here in Thailand, by the employing company.

For a one-year extension of stay based on employment from immigration you need an audited annual report. For a new company this would take 1 year of doing business. Work permit can be applied for as soon as the company is registered.

Edited April 3, 2011 by InterestedObserver

[PoorSucker]

You also need a medical clearance certificate, to state you are of sound mind, not an alcoholic, and do not have elephantitus. (any hospital/ doctor can provide)

You forgot tuberculosis, syphilis and leprosy.

[Arkady]

If you are a significant shareholder in the company and a director, it should help a bit in getting your first WP, since the Labour Ministry acknowledges the need for foreign investors to be represented on the board and in the management of companies. However, you will still need to have acceptable qualifications and experience for the job and the company will need to meet the requirements of paid up capital and Thai employees (the latter is for Immigration). After the first year, Immigration and the Labour Ministry will want to see evidence that the company is viable in times of income from operations (not passive income from rentals or bank interest) and taxable profits. Otherwise you will have a hard time renewing the WP in spite of being a shareholder. This is particularly the case with Immigration because they are not surprisingly alert to the scam of foreigners setting up inactive companies just to obtain non-imm B visas.