Drop my WP and put my GF as MD?

[TramsRepus]

Hi,

I have sold one of my 2 companies in BKK and moved down to Pattaya/Jomtien. The company that i still have left is currently idling and cost me a fortune to maintain (WP, Visa, Taxes, Rent, Social, Bookkeeping, Aditor, Lawyers etc etc).

The thing is that i got a new contract in China and will only stay in Thailand 11-12 days per month for the next 12 month so i don't actually need any Visa or WP anymore. But i don't want to close the company either as i might get a later contract in Thailand and then i need a company here again.

1. Is it possible to put a company on hold for a while in Thailand?
2. If not, would it be an idea to put my long time Thai-GF as GM (no trust issues). I had hope this would cancel the need for an expensive office, social cost for 3 of 4 Thais (GF is left) and for me, WP, Visa, for a while. It would save me 250-300KTHB per year.
3. If dropping my WP and Non-Imm, which i have had for over 9 years straight, would it affect my future possibilities to qualify for a PR later? I.e, do i have to start all over again to obtain 5 new consecutive years with Non-Imm to qualify?

I would appreciate some advise from someone who have been in a similar situation as me.

Thanks,

/T

[Misterwhisper]

Can't answer your first two questions, but your third one: Yes, once you drop your current Non-Imm and WP, you'll have to start from scratch again. Your previous 9 consecutive years will not count.

[Dork]

Yes you can do that. As long as the company remains dormant with no employees and no transactions you will only need to submit audited annual accounts which should only cost a few thousand Baht.

Personally I don't think you need to resign as a Director either though I'm sure some will disagree with me. If the company does nothing and has no monetary transactions then I can't see why you should need a work permit. If worried about that, you could date the few documents that you will still need to sign on dates that you are not in Thailand. The Commercial Code doesn't require that you are present in Thailand to bind the company and if you're not in Thailand then you're not subject to Thai Labour laws.

Unfortunately though, as said above, your eligibility to apply for PR will be lost.

[TramsRepus]

Ok, thanks guys for your inputs. But how to interpret this from http://www.thaiembassy.com/thailand/thai-permanent-residency.php

*You must have had a Thai non-immigrant visa for at least three years prior to the submission of your application. Holders of multiple NON-Immigrant visas can not apply. You must have 3 consecutive yearly extensions in order to qualify.

*You must be a holder of a non-immigrant visa at the time of submitting your application

[ubonjoe]

Embassy websites are never a reliable source for immigration info.

Look here: http://www.immigration.go.th/nov2004/en/base.php?page=residence

[lopburi3]

You must have been here on one year extensions of stay for the three years prior to application. You would also have to have the financials to stand any chance. So if you cease obtaining one year extensions you would have to start over.

[p_brownstone]

Even if the Company is not doing business you would still have to submit monthly VAT Returns, half yearly Profit Estimates and Audited Annual Accounts.

Patrick

[TramsRepus]

Yea, it seams like i will loose the opportunity for a PR then. Crap.... If i marries my GF then :-) But then i have to change the non-imm to a O. Will that also take away me 9 years?

[lopburi3]

You do not have to change to non immigrant O visa - you just change the reason for extension of stay. But remember regardless of stay type financials in Thailand (monthly taxed income) are likely to play an important part for PR or citizenship (married you might want to look at that rather than just PR)

[Dork]

Even if the Company is not doing business you would still have to submit monthly VAT Returns, half yearly Profit Estimates and Audited Annual Accounts.

Patrick

Only if the Company is registered for VAT in the first place and even if it is, the Company can apply to the RD for cancellation of VAT registration.

[Arkady]

Even if the Company is not doing business you would still have to submit monthly VAT Returns, half yearly Profit Estimates and Audited Annual Accounts.

Patrick

Only if the Company is registered for VAT in the first place and even if it is, the Company can apply to the RD for cancellation of VAT registration.

He wouldn't have been able to get a WP without VAT registration. I would say that submitting nil VAT returns monthly is less hassle than cancelling VAT registration and re-applying if he ever wants a WP again. Anyway it's essential to maintain the WP if he wants to apply for PR or citizenship. Salary of 80k required for PR under the business category and 40k for citizenship, if married to a Thai. Three complete calendar years of tax receipts and WP required in either case.