Company Profit Needed For Work Permit Renewal?

[TravelerEastWest]

Is a company profit needed for work permit renewal?

For example if a company in the first 3 years has net losses but plenty of cash for all expenses and there is only one workpermit for the foreign director is that OK?

At what point if ever is a company profit required for the work permit to still be renewed?

Note all VAT and wage withholding etc are being paid in this example and will continue to be paid.

[Sunbelt Asia]

In general, a company must show, in their accounts, either gross revenue or net profit equivalent to and not less than the the foreign employees salary to obtain an extension of non-b visa. However, while it is not law, Labor Officers may also require that the company achieve a profit in order to renew a work permit.

If the company is active but not making a profit the officer may give a 6 month period with a check on profitability at the 6 month mark or they may go ahead and give the one year work permit.

Again, it is all up to the officer's discretion

[sunbelt][/sunbelt]