No Extension Of Stay For Business With Start-ups

[Sunbelt Asia]

Immigration in Bangkok, is no longer issuing extension of stay based on business permits ( business visas) to foreign employees of first year companies as the police order 7.1 #7 of required documents this document requires "Copies of the latest annual audit' which is impossible for a new start up formed this year until at the earliest after Jan 1st ( year end being Dec 31st)

However let's say your company was registered Jan 1st 2007, you then are looking at Jan 1st+ 2008 before you could apply for the extension of stay based on business. (even more time as the accountant has to close the books and the auditor has to do the audit.)

The advice, Immigration is giving is to get the one year multi entry visa at a Embassy outside Thailand. Revalidate your work permit every 90 days, by crossing the border, then going to the Labor dept and revalidating the work permit.

What is interesting, just yesterday, Penang stopped longer issuing multi entry visas even if you have a work permit

The closest places that will give a one year multi entry visa still with a work permit are 'KL" Kuala Lumpur, Malaysia and Hanoi, Vietnam.

www.sunbeltasiagroup.com

[fxm88]

Hmmm.... since there was also that crackdown on companies whose sole purpose was to own a farang's land, rather than dissolving those companies perhaps the ones that are old enough could be made available to these start-ups? In other parts of the world one of these is known as "shelf company" (as in "off the shelf"). An enterprising fellar might sieze the opportunity to start a shelf-company brokerage!

[Sunbelt Asia]

The closest places that will give a one year multi entry visa still with a work permit are 'KL" Kuala Lumpur, Malaysia and Hanoi, Vietnam.

Update: This morning, "KL" is no longer issuing multi entry visas with a work permit as well, unless you have a Phor Ngor Dor.1 (Personal Income tax form filed on a monthly basis)

www.sunbeltasiagroup.com

[Sunbelt Asia]

Hmmm.... since there was also that crackdown on companies whose sole purpose was to own a farang's land, rather than dissolving those companies perhaps the ones that are old enough could be made available to these start-ups? In other parts of the world one of these is known as "shelf company" (as in "off the shelf"). An enterprising fellar might sieze the opportunity to start a shelf-company brokerage!

National Police Office Order No. 606/2006

7.1

(4) That business must submit their year end balance sheet which has been inspect and certified by a certified accountant. In order to show the financial status, stability and recognition of business. In overall the audit must show owner’s equity of no less than 1 Million Baht and

(5) That business must submit their year end profit and loss account which has been inspect and certified by a certified accountant. In overall the total revenue must show an amount higher than the total salary and benefit paid the employee

The problem is a number of these holding companies did not have enough income to pay a gardener let alone a 50,000 Baht month salary, or the company has equity of more than one million Baht, after the house has been transferred.

www.sunbeltasiagroup.com

[freitag1]

And for business visas without a work permit? Is there any chance in vietnam if I show them the letter of invitation and the income of the company?