Farang Condo Rental Company

[Sunny Valentine]

Just an idea:

Register a Company with 100% foreign shares.

Buy some Condos in the Company's name. (They have to be within the 49% foreign part, I guess.

Now, rent them out through this company. Hire a Thai National Manager who does all the work (Could be your Thai wife), maybe hire some more staff.

You as the foreigner owning the company do not participate in any work, other than controling.

At the end of the Year you should be able to collect dividends based on the profit this Company is making.

Pay tax for this personal income. (?)

My question: Can this income be used to show the 400000 Baht a Year needed to extend the Permission to stay based on supporting a Thai wife?

Could it even be used to show the 800000 for retirement? (Mind you, you are not working!)

Just an idea, but I would like to find out more about it!

Sunny