pritch84 Posted October 1, 2013 Share Posted October 1, 2013 Hey I currently have held a work permit for almost 3 years whilst working at a company. I would like to setup my own company and get my own work permit. Any ideas if its transferrable at all and could be cheaper? Thanks Link to comment Share on other sites More sharing options...
Sceptict11 Posted October 1, 2013 Share Posted October 1, 2013 Will the new company qualify for a work visa ? Link to comment Share on other sites More sharing options...
ubonjoe Posted October 1, 2013 Share Posted October 1, 2013 (edited) Before you could even apply for a work permit you need 4 Thai employees and a registered company with capital of at least 2 million baht. Unless your employer agrees to assist with process of getting a new work permit you would have to resign from job cancelling the work permit and extension of stay you have now. Then go out for a tourist visa return and apply for the work permit then go out again to get a non-b visa. Then after getting work permit you would need to get a multiple entry visa for the first year because a new company would not qualify for an extension at immigration because it requires one year of tax payments to get it. Edited October 1, 2013 by ubonjoe 1 Link to comment Share on other sites More sharing options...
pritch84 Posted October 1, 2013 Author Share Posted October 1, 2013 Thankyou for that, most insightful but I already have a B visa, so would I still need to leave the country? Link to comment Share on other sites More sharing options...
ubonjoe Posted October 1, 2013 Share Posted October 1, 2013 If you have a valid multiple entry visa you would not need to leave until your next border run for a new 90 day entry. Link to comment Share on other sites More sharing options...
stoffel45 Posted October 1, 2013 Share Posted October 1, 2013 If you have a valid multiple entry visa you would not need to leave until your next border run for a new 90 day entry. UbonJoe, are you sure that you can use your re-entry visas - if your visa is dependent on your work offer and the current WP expired? Link to comment Share on other sites More sharing options...
Tanis Posted October 1, 2013 Share Posted October 1, 2013 it's very tricky to transfer a work permit from one place to another. I'm sure it's possible but it would probably be far easier to get a new wp and new visa. Link to comment Share on other sites More sharing options...
digitalchromakey Posted October 1, 2013 Share Posted October 1, 2013 Work Permits (TT4 Blue Books) have not been transferrable for quite some time now. You can add a new employer to an existing WP, but this requires the consent of the first employer and everything you do WP/Visa/Extension wise from then onwards requires paper work from both companies - extremely complex. Some regional Labour Depts will then insist you cancel your WP and re apply if you then want/need/have to remove the first employer. Just cancel the first WP and reapply with the new company, if you have a current Multiple Entry 'B' Visa (not an extension granted in country) then the process is straightforward. If you have an Extension of Permission to Stay based on Employment in the Kingdom of Thailand then this is immediately voided when you leave your current employer - as you are forming a new company it will not be possible to get a 777/2551 Case 2.1 Extension based on working in the Kingdom of Thailand for two years so you will need to work with Non Immigrant 'B' Visas obtained outside of Thailand plus do 90 day border runs in this period. Link to comment Share on other sites More sharing options...
ubonjoe Posted October 1, 2013 Share Posted October 1, 2013 If you have a valid multiple entry visa you would not need to leave until your next border run for a new 90 day entry.UbonJoe, are you sure that you can use your re-entry visas - if your visa is dependent on your work offer and the current WP expired?You are referring to an extension of stay not a visa. An extension of stay would end on date job ended.If you have an extension you do need to leave the country every 90 days. Link to comment Share on other sites More sharing options...
pritch84 Posted October 2, 2013 Author Share Posted October 2, 2013 Thankyou so much for such in detail posts! I have a non immigrant b visa and never have to leave the country. So I guess I have to hand in my resignation a month before then just find a company to setup a new limited company and work permit which seems to cost about 70,000 everywhere i look! Expensive Link to comment Share on other sites More sharing options...
ubonjoe Posted October 2, 2013 Share Posted October 2, 2013 Thankyou so much for such in detail posts! I have a non immigrant b visa and never have to leave the country. So I guess I have to hand in my resignation a month before then just find a company to setup a new limited company and work permit which seems to cost about 70,000 everywhere i look! Expensive You do not have a visa you have an extension of stay based upon employment.The 70k baht number sounds a little high. If you plan on setting up a legitimate company with real employees it should not cost that much. Link to comment Share on other sites More sharing options...
pritch84 Posted October 2, 2013 Author Share Posted October 2, 2013 Ive now been quoted 25k to setup a new company and 7k for the work permit... almost sounds too good to be true??? Its through a friends friend who says its a favour... Link to comment Share on other sites More sharing options...
Sceptict11 Posted October 2, 2013 Share Posted October 2, 2013 If something "sounds too good to be true" it may be a scam ! Make sure of what you are receiving and ask questions about the legality ! NB A work permit does not cost 7000! Link to comment Share on other sites More sharing options...
pritch84 Posted October 2, 2013 Author Share Posted October 2, 2013 I wonder if the company registration is cheap but hes putting cost on that to make the wp sound better, overall 27000 for company registration and Work Permit Transfer (at best transfer) he thinks is possible. Sound ok? Link to comment Share on other sites More sharing options...
digitalchromakey Posted October 2, 2013 Share Posted October 2, 2013 (edited) I wonder if the company registration is cheap but hes putting cost on that to make the wp sound better, overall 27000 for company registration and Work Permit Transfer (at best transfer) he thinks is possible. Sound ok? You can't transfer a Work Permit, but one can be held per foreigner for each 2 million of registered capital along with 4 Thai workers employed. 25,000 THB for a Company Formation with 2 Million Registered Capitalisation is reasonable (cost price is around 15k+) , a new one year WP as already posted costs 3,100 THB, you will then have the costs for a Visa run to get a Non Immigrant Category 'B' 90 Day Single Entry Visa which will be necessary for the actual WP issue. Expect significant annual costs (audit, annual accounts plus tax filing, etc) of 25,000 THB plus your personal taxation monthly contributions and social contributions for your 4 Thai employees. Also with a newly formed company you will need to do/budget for Visa/Border runs for up to two years before an Extension of Permission to stay based on working in the Kingdom of Thailand is possible. Edited October 2, 2013 by digitalchromakey Link to comment Share on other sites More sharing options...
Satcommlee Posted October 2, 2013 Share Posted October 2, 2013 If you are married to a Thai the capital requirements and number of employees are much less. BOI registered companies also do not have the same strict requirements. Link to comment Share on other sites More sharing options...
digitalchromakey Posted October 2, 2013 Share Posted October 2, 2013 (edited) If you are married to a Thai the capital requirements and number of employees are much less. BOI registered companies also do not have the same strict requirements. 1 Million Registered Capital and 2 Thai Employees per foreign employee married to a Thai, plus lower income tax. BOI companies are I understand, much much more expensive to set up with the lowest tier of investment that would be considered for BOI status being up to 80 million THB. Edited October 2, 2013 by digitalchromakey Link to comment Share on other sites More sharing options...
Satcommlee Posted October 11, 2013 Share Posted October 11, 2013 If you are married to a Thai the capital requirements and number of employees are much less. BOI registered companies also do not have the same strict requirements. 1 Million Registered Capital and 2 Thai Employees per foreign employee married to a Thai, plus lower income tax. BOI companies are I understand, much much more expensive to set up with the lowest tier of investment that would be considered for BOI status being up to 80 million THB. If you look at the BOI website they publish a list of approvals.. There are numerous software companies getting through with as little as 1 Million Baht, I also noticed that many are German. Link to comment Share on other sites More sharing options...
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