How much capital is needed for work permit for Sole Proprietorship w/ Treaty of Amity

[joshuatdixon]

I have come across an independent lawyer and also have sought advice a well know firm that specializes in helping foreigners register business and also helps American the with Treaty of Amity. But neither of them have been able to answer my question.

The question is, How much is required for the sole proprietorship to have in capital in the bank in order to acquire a work permit for the American that registered the company?

For a company limited to acquire a work permit for an american, it is required to have 2 million baht if unrestricted and 3 million if a restricted type of business. The company will need to have partners and employ 4 Thais for every foreigner, and pay taxes for them.

For a sole proprietorship it is the same for the 4 Thai employees and paying taxes, but it seems that it is almost undefined on the capital needed in order to acquire the work permit. Both attorneys I spoke with made it sound as if it won't be know until we really dive further into it.

I prefer to find out before paying an attorney for services, in case I would want to go with the Company Limited route instead of the Sole Proprietorship.

I am looking for some legal terms or something that I can bring to the attorneys I am in communicating with now, or either finding an attorney that knows for sure.

Thanks for all the help!

[Sunbelt Asia]

You don't state if you are planning on opening in Bangkok or upcountry but in Bangkok and most likely in many provinces, the Labor Office will not issue a work permit to a sole proprietorship - either one wholly Thai owned or an Amity.

An Amity company requires 3 million baht in registered capital but it must be a Company with three shareholders, you can be the majority shareholder in this company, iIf you want to own a Thai Limited company of which you are not the majority shareholder then the registered capital requirement is 2 million baht. However if you are married to a Thai national then that capitalization can be 1 million baht. With that and four Thai employees you can obtain one work permit

However, our experience has been that the Labor Department will no longer issue work permits to any sole proprietorship.

[sunbeltlegal][/sunbeltlegal]

[Samuirockstar]

In a post from March 1st, 2007 regarding registered capital for Amity companies, Sunbelt Asia stated

 

"You do NOT NEED 2 million Baht registered capital for a work permit for a a sole proprietorship business or natural person. ( This means you or someone else is owning the business with no partners. )"

 

Has this changed?

 

Is there any scenario in which an American can start a business and get a work permit without any registered capital? 

 

Can equipment or services still be used as capital? If yes, does this apply to Sole Proprietorship or only to LLC?