Ez Question I Hope

[LoveDaBlues]

I turned 50 a couple of weeks ago and will pursue the O-A retirement visa. Currently I have the non-immigrant 'O' multi-entry visa.

My question: If I get the retirement visa can I start a business? I'm pretty sure I can't be employed but can I own a business and employ Thais?

Thanks. LDB

[LoveDaBlues]

up ^

[SunbeltAsia]

I turned 50 a couple of weeks ago and will pursue the O-A retirement visa. Currently I have the non-immigrant 'O' multi-entry visa.

My question: If I get the retirement visa can I start a business? I'm pretty sure I can't be employed but can I own a business and employ Thais?

Thanks. LDB

Yes as long as you are not working in the business.

www.lawyer.th.com

[Thaiquila]

Sunbelt,

Could you clarify that a little more.

How can you own a business and do zero work?

Just buy shares of an existing business?

Wouldn't talking to managers about the business be considered work?

[SunbeltAsia]

Sunbelt,

Could you clarify that a little more.

How can you own a business and do zero work?

Just buy shares of an existing business?

Wouldn't talking to managers about the business be considered work?

Owning shares in a private or public Limited Company does not require a work permit.

An example, under the Amity Treaty, I own 99% of the shares in a company that owns a Chester Grill. Going on 18 months, I have not ever visited the location to even eat. I get the PL/ Balance sheets every month.

Chester Grill employs a staff of professional managers. I have never talked to the mgr(s) and he or she would not know me as well. My wife is a director who goes to the franchise meetings and talks to the staff. She found out they are showing more Thai movies next to the Chester Grill and why the profits have skyrocketed recently. I was curious when I saw the sales jumping in the reports, but as I have no idea who the mgrs are, had no way to know even who to call. My wife signs the checks and the yearly audit. Do I need to get an additional work permit for this location because it is my business ? No as I’m not doing any work and am not getting a monthly salary.

[astral]

As I understand it O-A visas are issued by an embassy overseas.

Since you have an O visa already, why don't you just extend that, in Thailand, when you reach 50. Much easier.

You will need to show 80K per month income, or 800K in the bank.

[wrestler7902002]

I friend of mine is has had a retirement visa O-A for the last two years. He was a teacher in America.

But I believe that the teaching bug has gotten to him and he wants to teach again. He says that he can find a job teaching and still be on the retirement visa.

I told him that he's wrong. It's not like the in America where you are on social security retirement and can still work a little bit to earn extra money.

And besides, he would need a valid work permit to teach legally.

So he would be working and technically not on retirement in Thailand.

Is this correct?

Thanks for the help. lol

[LoveDaBlues]

As I understand it O-A visas are issued by an embassy overseas.

Since you have an O visa already, why don't you just extend that, in Thailand, when you reach 50. Much easier.

You will need to show 80K per month income, or 800K in the bank.

astral, I'll give you my take on things. I may not be right as this visa stuff gets complicated; if I'm wrong I would like a member to correct me so I have better info.

The O-A can be obtained overseas OR in Thailand.

Yes, I could extend the 'O' visa I currently have. However there is a big advantage (in my mind) to having the 'O-A'; with the O-A I won't have to leave the country every 90 days. I can report in by mail or just pop into the local Immigration office every 90 days. Much easier.

As I type this I am looking at an information sheet provided to me by the local Immigration office. It states that the income level is not less than 65,000 baht per month.

In bold print at the bottom it says this, "REMARKS: It is prohibited to have any employment after being granted the approval of retirement stay." My original post was based on this statement; it's obvious I can't work if I obtain the O-A but could I own a business and employ others? According to SunbeltAsia it looks like I could if things are set up properly.

Thanks everyone for the replies.

LDB

[Noel]

As I understand it O-A visas are issued by an embassy overseas.

Since you have an O visa already, why don't you just extend that, in Thailand, when you reach 50. Much easier.

You will need to show 80K per month income, or 800K in the bank.

astral, I'll give you my take on things. I may not be right as this visa stuff gets complicated; if I'm wrong I would like a member to correct me so I have better info.

The O-A can be obtained overseas OR in Thailand.

Yes, I could extend the 'O' visa I currently have. However there is a big advantage (in my mind) to having the 'O-A'; with the O-A I won't have to leave the country every 90 days. I can report in by mail or just pop into the local Immigration office every 90 days. Much easier.

As I type this I am looking at an information sheet provided to me by the local Immigration office. It states that the income level is not less than 65,000 baht per month.

An 'O-A' visa cannot be obtained in Thailand.

You can extend your Non-Imm 'O' visa during the last 30 days of your 90 day permitted to stay period. Once you have done that, there is no need to leave the Kingdom, all you need do is submit a TM 47 form to Immigration every 90 days.

When you apply for the extension, you will need to satisfy the financial requirements by showing ฿800,000 in a Thai bank account or a monthly income of ฿65,000 or a combination of the two.

[LoveDaBlues]

Noel, thanks for correcting me. I assumed that the only form of a 'retirement visa' was the 'O-A'.

I showed Immigration my type 'O' visa and they gave me a list of what I need to apply for retirement. I assumed my 'O' would be converted to an 'O-A'. Looks like a bad assumption on my part.

On this site I found an example of the TM 7 form....is this the form you mean? I could not find a TM 47 form.

http://www.thaivisa.com/426.0.html

Thanks.

LDB

[astral]

Sunbelt has indicated that you can own a business,

but working on a O-A is definitely not permitted.

I think the same applies if you get an extension on an O visa, based

on retirement.

[Noel]

On this site I found an example of the TM 7 form....is this the form you mean? I could not find a TM 47 form.

http://www.thaivisa.com/426.0.html

Thanks.

LDB

The TM 7 form is used for applying for the extension. The TM 47 is for notifying that you wish to stay in the kingdom for longer than 90 days once you have the extension. If you do not leave the country (thereby restarting the clock), you must submit a TM 47 every 90 days.

Edited July 5, 2006 by Noel

[LoveDaBlues]

Noel, thanks for posting the form and the explaination. This visa stuff makes me......

I've looked at both the TM.7 and the TM.47.......what's funny is I don't see the word 'retirement' anywhere. I'm guessing on the TM.7 form under the 'reason for extension' I would simply put 'retirement'. OR somewhere along the line Immigration 'stamps' the form with the word 'retirement'. Oh well not really worried now I'm sure it will all fall into place.

Thanks again.

LDB

[lopburi3]

You put retirement as the reason for your asking for an extension of stay for 365 days and immigration will stamp retirement into your passport.

[LoveDaBlues]

COOL! Thanks!!