Starting a Thai company, when you already have a work permit from another?

[SS1]

Hey all,

I am wondering what is the case for having a Thai company as a foreigner, when you already have a work permit from another job. Obviously the work permit has the work specified on the permit already, but would this also allow you to conduct similar work for your own company on behalf of the company you are already employed with?

To make it a bit more clear, let me give a hypothetical example:

1. I am working for company A in the field of online marketing

2. I set up a Thai company B with a Thai partner and own 49% , but am not employed by my own company (thus no min. capital requirement etc. hassle needed for a farang wp).

3. I conduct work for my own company, that is similar to what my existing work permit already allows me to do (e.g. online marketing for company .

Would this be allowed legally, or would one have to get a second work permit to work for both companies? In this hypothetical example, it could well be myself doing work for company B under the name of company A, even though I am a shareholder. Company B would be a client of company A.

[lkv]

Register the address of the new company at the same address at the existing company.

[South]

Don't quite understand your OP but you can (could) get more than one job on one WP. Not sure if the rules have changed as that was quite a few years ago. Best go to your local place and ask.

[blackcab]

Is it legal? No. Your work permit is to carry out work for the specified employer (company A).

Would anyone find out? I doubt it, if you are discreet.

By the way, don't you know a Thai person you could give 1% of the shares too (with a presigned, undated transfer to use at a later date if necessary)?

That would make the company 50% + 49% + 1%. A bit more equitable.

[SS1]

Don't quite understand your OP but you can (could) get more than one job on one WP. Not sure if the rules have changed as that was quite a few years ago. Best go to your local place and ask.

Right, but the point of this arrangement would be that I would not need to be employed by my own Thai company, so the requirements of 4 thais and min. capital would be avoided. I would still be able to do some work for company B though and still hold a valid work permit.

Is it legal? No. Your work permit is to carry out work for the specified employer (company A).

Would anyone find out? I doubt it, if you are discreet.

By the way, don't you know a Thai person you could give 1% of the shares too (with a presigned, undated transfer to use at a later date if necessary)?

That would make the company 50% + 49% + 1%. A bit more equitable.

That's what I thought as well, but what if company B is a client of company A? Wondering how this would look from a legal point of view. Example: company B (where I own shares) decides to hire company A to take care of their web design. I work at company A as a web designer, so I will conduct that work for company B, while the Thai partner of company B will take care of the rest of the duties.

Did not think about that about the percentages. Thanks for the tip.

[blackcab]

That's what I thought as well, but what if company B is a client of company A? Wondering how this would look from a legal point of view. Example: company B (where I own shares) decides to hire company A to take care of their web design. I work at company A as a web designer, so I will conduct that work for company B, while the Thai partner of company B will take care of the rest of the duties.

If you work for the specified company, at the specified address, doing the specified work according to the job description then you are fine.

In fantasy land the ministry of labour could ask for contracts, emails, invoices and receipts to check fair market value was paid for the agreed work, and that this work was included in tax returns. In the real world that is not going to happen unless someone gets jealous and complains.

[pbonline]

I have a 2 milj baht LTD company that I no longer use, I give it away for free, the new owner only pay 3000 baht for changing owner name.

Have never bought or borrowed anything on the company, very clean company and balance sheet is done.

My accounter have all papers and details if new owner want to check it up.

[hoffy66]

Don't quite understand your OP but you can (could) get more than one job on one WP. Not sure if the rules have changed as that was quite a few years ago. Best go to your local place and ask.

Right, but the point of this arrangement would be that I would not need to be employed by my own Thai company, so the requirements of 4 thais and min. capital would be avoided. I would still be able to do some work for company B though and still hold a valid work permit.

Is it legal? No. Your work permit is to carry out work for the specified employer (company A).

Would anyone find out? I doubt it, if you are discreet.

By the way, don't you know a Thai person you could give 1% of the shares too (with a presigned, undated transfer to use at a later date if necessary)?

That would make the company 50% + 49% + 1%. A bit more equitable.

That's what I thought as well, but what if company B is a client of company A? Wondering how this would look from a legal point of view. Example: company B (where I own shares) decides to hire company A to take care of their web design. I work at company A as a web designer, so I will conduct that work for company B, while the Thai partner of company B will take care of the rest of the duties.

Did not think about that about the percentages. Thanks for the tip.

Go back to your own country,,,, stop ripping the thai people off, they deserve better than that....

[SS1]

Don't quite understand your OP but you can (could) get more than one job on one WP. Not sure if the rules have changed as that was quite a few years ago. Best go to your local place and ask.

Right, but the point of this arrangement would be that I would not need to be employed by my own Thai company, so the requirements of 4 thais and min. capital would be avoided. I would still be able to do some work for company B though and still hold a valid work permit.

Is it legal? No. Your work permit is to carry out work for the specified employer (company A).

Would anyone find out? I doubt it, if you are discreet.

By the way, don't you know a Thai person you could give 1% of the shares too (with a presigned, undated transfer to use at a later date if necessary)?

That would make the company 50% + 49% + 1%. A bit more equitable.

That's what I thought as well, but what if company B is a client of company A? Wondering how this would look from a legal point of view. Example: company B (where I own shares) decides to hire company A to take care of their web design. I work at company A as a web designer, so I will conduct that work for company B, while the Thai partner of company B will take care of the rest of the duties.

Did not think about that about the percentages. Thanks for the tip.

Go back to your own country,,,, stop ripping the thai people off, they deserve better than that....

Lolwhat, ripping off Thai people? .. seems like you are a troll who didn't even read the post properly.

[GavinK]

What is the benefit of working for B but being employed officially by A - is it because it would be easier to get a wp under A than B ?

If company B pays you a salary as an employee you might have additional problems - eg. would you use 1 tax id on both employers ?

If you have a wp from company A and conduct work as an employee of company A and receive a salary from company A, and company A is a customer of company B, I don't see what the issue is. You would not actually be employed by company B (just a shareholder) and not receive a salary, but perhaps dividends.

[blackcab]

What is the benefit of working for B but being employed officially by A - is it because it would be easier to get a wp under A than B ?

If company B pays you a salary as an employee you might have additional problems - eg. would you use 1 tax id on both employers ?

If you have a wp from company A and conduct work as an employee of company A and receive a salary from company A, and company A is a customer of company B, I don't see what the issue is. You would not actually be employed by company B (just a shareholder) and not receive a salary, but perhaps dividends.

The benefit is only needing one work permit. Which means company B wouldn't need Thai employees, etc.

As a shareholder the OP wouldn't receive a salary, they would receive drawings, which come under different Social Fund rules (ie not required to be paid).

Any income is taxable, however. You can't get away from that one.