Hi there, 

 

Here is my case, I am currently working in a BOI company and have a work permit and an extension of stay Non-imm + re-entry permit both valid until the end of 2017. 

 

Unfortunately the company that I am working with is more likely to run in bankruptcy in the next couple of weeks due to some business issues we encountered earlier in the year.

 

I am trying to figured out what would happen at that time :

 

If my company fall in bankruptcy, are the work permit and visas related immediately cancelled ?

Does that mean that I will have to fly off the country,  apply to an extension of stay, or does my current status will remain valid until end of 2017 as mentionned on my passport ?

If the company shuts down and/or you loose your job you will also loose your extension of stay.

Unless your extension of stay is based on marriage with a Thai national in that case your extension will remain valid, but the workpermit will be void.

You need a letter of the company when you're returning your work permit. Failing to report incurs a fine (last known to me) of 1000 baht.


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The company entering bankruptcy proceedings may or may not mean your employment is immediately terminated. You might, for instance, be able to agree with the administrators that you remain formally employed, but receiving minimal salary for occasional assistance.