I already set up a company in Thailand 8 years ago with a group of Thai friends, and I hold 49% shares. Business is growing well.

Now can I set up another company with another group of Thai people who are not related to the share holders of my first comany?

My work permit states that I am working for the First Company. If i set up a new company, would I have 2 employers shown in my work permit?

If I set up a new company will these two companies become "related" in legal terms?

You can have as many companies as you like. In each company, the foreign shareholders can have up to 49% each.

If you want to work for the second company, you need a work permit. This means that the same requirements as for the first company apply: Minimum salary, minimum number of staff. Any salary you get from the first company is not counted towards the requirements for the second company.

When the requirements for the work permit for the second company are fulfilled, you can apply for a second work permit. the first company will need to write a letter (I don't know whether there is a certain format or not) stating that they agree that you also work for the second company.

If you don't want to work for the second company but just be a silent partner, you don't need a work permit.

I have a company I would like to get rid of and I will even give it to you free, email me at: [email protected]