Buying a company - work permit requirements?

[saminoz]

Hi,

Having released some funds now and closed a deal. What are the work permit requirements to enable me to work for this company?

Thanks

[digitalchromakey]

You have not supplied any information that would allow advice to be given.

like:

1) Company type.

2) Capitalisation.

3) Number of Thai Employees.

3) Turn over and company age.

4) VAT Registration.

5) You, your nationality, age, marital and visa status.

6) What work you intend to do within this company.

7) Nature of company's business.

Edited June 26, 2015 by digitalchromakey

[zeichen]

There are different levels of investment and different types of companies and all have different requirements.

[saminoz]

You have not supplied any information that would allow advice to be given.

like:

1) Company type.

2) Capitalisation.

3) Number of Thai Employees.

3) Turn over and company age.

4) VAT Registration.

5) You, your nationality, age, marital and visa status.

6) What work you intend to do within this company.

7) Nature of company's business.

You are right, excuse me.

The company is in IT retail with some IT services. The company was founded 10 years ago and was turning over between 9 and 12 million over the last three years. Last year saw a serious decline in line with the farang owner's failing marriage.

The company has 4 Thai employees, is capitalized at 2 million and is registered for VAT. I have the historical financials and it has been a sound tax payer both of corporate and social taxes.

I am 57, married to a Thai am on a Non-Immigrant O based on retirement. I intend to change this to a visa based on marriage, gain a work permit and run the business as the manager. We are initially acquiring the 51% in my wife's name and buying the remaining 49% in 12 months.

I hope that's enough info. If you need more detail than that, I'd ask that you PM me please.

I appreciate your advice.

Best regards

[zeichen]

Sounds like you have all the requirements. Just register the business and go to labor department and immigration.

[FBlue72]

Do you need a WP to own a Thai registered company but not work in it ?

[ubonjoe]

Do you need a WP to own a Thai registered company but not work in it ?

No you do not need a work permit.

[BritTim]

Do you need a WP to own a Thai registered company but not work in it ?

No you do not need a work permit.

Is the answer still the same if you are one of the directors?

I can see how, theoretically, you might be a 49% owner of a business without taking any part in the day to day business, but it would be difficult to even be a signatory on the company bank accounts without previously doing something that could be interpreted as "work".

[Soutpeel]

You have not supplied any information that would allow advice to be given.

like:

1) Company type.

2) Capitalisation.

3) Number of Thai Employees.

3) Turn over and company age.

4) VAT Registration.

5) You, your nationality, age, marital and visa status.

6) What work you intend to do within this company.

7) Nature of company's business.

You are right, excuse me.

The company is in IT retail with some IT services. The company was founded 10 years ago and was turning over between 9 and 12 million over the last three years. Last year saw a serious decline in line with the farang owner's failing marriage.

The company has 4 Thai employees, is capitalized at 2 million and is registered for VAT. I have the historical financials and it has been a sound tax payer both of corporate and social taxes.

I am 57, married to a Thai am on a Non-Immigrant O based on retirement. I intend to change this to a visa based on marriage, gain a work permit and run the business as the manager. We are initially acquiring the 51% in my wife's name and buying the remaining 49% in 12 months.

I hope that's enough info. If you need more detail than that, I'd ask that you PM me please.

I appreciate your advice.

Best regards

you have given far more detail than was actually needed... THB 2.0 Million capped Ltd company, 4 Thai employees full fills the requirements for a WP, <removed>

Edited June 26, 2015 by ubonjoe
A off topic baitng comment has been removed

[digitalchromakey]

You have not supplied any information that would allow advice to be given.

like:

1) Company type.

2) Capitalisation.

3) Number of Thai Employees.

3) Turn over and company age.

4) VAT Registration.

5) You, your nationality, age, marital and visa status.

6) What work you intend to do within this company.

7) Nature of company's business.

You are right, excuse me.

The company is in IT retail with some IT services. The company was founded 10 years ago and was turning over between 9 and 12 million over the last three years. Last year saw a serious decline in line with the farang owner's failing marriage.

The company has 4 Thai employees, is capitalized at 2 million and is registered for VAT. I have the historical financials and it has been a sound tax payer both of corporate and social taxes.

I am 57, married to a Thai am on a Non-Immigrant O based on retirement. I intend to change this to a visa based on marriage, gain a work permit and run the business as the manager. We are initially acquiring the 51% in my wife's name and buying the remaining 49% in 12 months.

I hope that's enough info. If you need more detail than that, I'd ask that you PM me please.

I appreciate your advice.

Best regards

Thanks - should be fine for one WP with you employed as the General Manager.

Get a non immigrant 'O' visa from a nearby Thai Consular Facility based on your being married to a Thai plus pay taxes on 40,000 THB pcm then you should be eligible for one year extensions of permission to stay based on having a Thai family member whilst working (National Police Order 327/2557 Case 2.18).

For the extension you might be asked to show annual accounts healthy enough to support all salaries including yours; however as you would not be applying for an extension based on working per se (327/2557 Case 2.1), then Immigration should not pursue this in any detail.

Edited June 26, 2015 by digitalchromakey

[steve187]

I dont see the need to obtain a non O, just a change from retirement to marriage on the extension, as mentioned in the OP

good luck

Edited June 26, 2015 by steve187

[ubonjoe]

I dont see the need to obtain a non O, just a change from retirement to marriage on the extension, as mentioned in the OP

good luck

That depends upon when his extension based upon retirement ends. If he wants to change to marriage earlier he would have to go out for non-o visa and start all over again.