Wp And Extension Of Stay

[Sunny Valentine]

Ok, here is my situation:

4 Million Baht Company. Founded in early 2005. We started business in Autumn 2005. Audited Balance sheet from (I think) June this Year exists.

We have invested close to 4 Million, and made a turnover of about 1.15 Million in the first fiscal Year (Only 8 month actively doing business)

We are registered for VAT, and have currently 10 Thai Employees we pay Social Security

I have a WP since this summer, now we have another WP for a 2nd farang director, he received the blue book just some days ago. Both with Salaries of 50000 Bt monthly.

My own Visa is a Non-O based on being married with a Thai wife. I am currently on the 2nd leg of annual extensions, both been done by showing 400000 in Bank.

I understand I am grandfathered, but: It seems I have some temporary cash flow problem, and might not be able to show the 400000 in the bank again this time.

Question 1: If I go the income route this time, will there be any chance for me in the future to revert to the 400000 again (You never know for how long the business keeps running, and I might consider selling up and retiring in a few Years time ...)? I should be able to easily comply with the 400000 a Year in bank from abroad in the forthcoming years, there just has been an issue in my western family that I needed to address therefore being short on cash, and I don't want to sell my house back in Europe in a rush .....

My other manager has just now got the WP. He is on a Single B Visa, which will expire (the admitted until) in less than two weeks.

Question 2: Do we have a chance to apply for an extension of stay based on the WP right now? My lawyer here (who turned out very good in finally getting the WPs, but is seemingly unaware about these latest changes on the extension requirements, and seems to have a personal contact at pattaya Immigration who also seemingly is not playing by these rules ..... telling her all different regulations and possible problems ...). I have yet to find out the details of our financial standings based on the audited balance sheet.

My understanding is you have to show assets of 1 Million for each WP extension, and turnover of 600000 each. These figures are maybe a close call in our situation. (Business improved significally in the last half Year, it was the first 3 or 4 month with very slow start that makes these figures look poor.

My extension is by the end of February. In my understanding of the new rules, my extension (as based on marriage) only requires the income (and paid taxes), no company balance sheet requirements? But, with 2 WPs, will they look at the doble figures for the extension of my manager?

Company's figures seem to be easily enough for 1, but maybe not for 2.

Would sending my Manager on a B Visa trip now, and maybe another one to KL in three month for a 1Y Multi (as by then we would have paid taxes for 3 month) be the better solution?

Does he have a chance for a (Single, maybe even Multi) Non-B in Vientiane?

Question 3: My manager has his farang wife living with him. She is currently on Visa runs / Tourist Visas, for the last Year or two. How to proceed to include here as dependant into his Visa, in both cases (1 Year extension, or 3 month Visas?) My lawyer seems clueless here, too.

Hope someone can give me a clue or two!

Sunny

[Sunbelt Asia]

Question 1: If I go the income route this time, will there be any chance for me in the future to revert to the 400000 again

yes

color=#FF0000]Question 2: Do we have a chance to apply for an extension of stay based on the WP right now?[/color]

Don't think so if I'm understanding correct. As you wrote

4 Million Baht Company. Founded in early 2005. We started business in Autumn 2005. Audited Balance sheet from (I think) June this Year exists.

We have invested close to 4 Million, and made a turnover of about 1.15 Million in the first fiscal Year (Only 8 month actively doing business)

The year end was Dec 31st 2005 and you did 1.15 million. You need to have done 1.2 million based on your salaries. The key is if your lawyer put your salary as 40K or 50K when he applied for your work permit. If it was 40K then you are ok.( as you will have the extension of stay based on having a Thai wife) and the mgr on the extension of stay based on business. He then could apply now.

My understanding is you have to show assets of 1 Million for each WP extension, and turnover of 600000 each. These figures are maybe a close call in our situation. (Business improved significally in the last half Year, it was the first 3 or 4 month with very slow start that makes these figures look poor.

You are correct on gross income but the one million net equity is for the company, not per work permit.

My extension is by the end of February. In my understanding of the new rules, my extension (as based on marriage) only requires the income (and paid taxes), no company balance sheet requirements? But, with 2 WPs, will they look at the doble figures for the extension of my manager?

Company's figures seem to be easily enough for 1, but maybe not for 2.

Yes they will look at both salaries and number of Thai employees. ( This is on the extension of stay based on business)

Would sending my Manager on a B Visa trip now, and maybe another one to KL in three month for a 1Y Multi (as by then we would have paid taxes for 3 month) be the better solution?

Better is to have him go on one more visa trip and get a non B. If you meet the criteria in 2007 based on 2006 numbers, then do the extension of stay for him. Otherwise he gets the multi entry visa from KL.

Does he have a chance for a (Single, maybe even Multi) Non-B in Vientiane?

Maybe a single with a wp.

Question 3:[/i] My manager has his farang wife living with him. She is currently on Visa runs / Tourist Visas, for the last Year or two. How to proceed to include here as dependant into his Visa, in both cases (1 Year extension, or 3 month Visas?) [/color]My lawyer seems clueless here, too.

Can only be on the extension of stay permit( not the 90 day visa) , that she can be a dependant.

www.sunbeltasiagroup.com

[Sunny Valentine]

Thanks a lot for the fast and clear answers. A few things keep me confused though.

Our annual balance covers I think June 2005 through May 2006. This is our business Year as of now. Do you say that only the figures for 2005 included herein count? And if yes, what if these turnover figures show 600000 for 2005 (Have to find this out, but there is always a chance!) Would this then compromise my extension application in February, based on marriage?

And: In order to get the extension next Year, will we have to wait to July (next Balance), or can we apply to change the Business Year now?

Would it make sense to contact Vientiane? Does anyone here have recent experiences for a Single B with a Work Permit?

Sunny

[Sunny Valentine]

Yes they will look at both salaries and number of Thai employees. ( This is on the extension of stay based on business)

Just to help me clear this up, what are the requirements for an annual extension for 2 WPs (One extension based on business, 50000 Baht a month, the other based on Thai wife, also 50000 Bt a month):

Company Equity: 1 Million

Gross income of Company in last (fiscal or astronomic?) Year: 1.2 Million or 600000 ?

Number of Thai Employees: 8 (or 4)?

Anything else, apart from the obvious?

Sunny

[Sunbelt Asia]

Our annual balance covers I think June 2005 through May 2006. This is our business Year as of now.

This was a wrong guess on my point on your yearend. I was thinking it may be Dec 31st and you filed late in June instead of May 30th.

Do you say that only the figures for 2005 included herein count?

Bith 2005 and 2006

And: In order to get the extension next Year, will we have to wait to July (next Balance), or can we apply to change the Business Year now?

Yes

Would it make sense to contact Vientiane? Does anyone here have recent experiences for a Single B with a Work Permit?

Yes ask them what they will need.

www.sunbeltasiagroup.com

[Sunbelt Asia]

Just to help me clear this up, what are the requirements for an annual extension for 2 WPs (One extension based on business, 50000 Baht a month, the other based on Thai wife, also 50000 Bt a month):

Company Equity: 1 Million

Gross income of Company in last (fiscal or astronomic?) Year: 1.2 Million or 600000 ?

Number of Thai Employees: 8 (or 4)?

Anything else, apart from the obvious?

Sunny

Company Equity: 1 Million

Gross income of Company in last (fiscal or astronomic?) Year: 1.2 Million or 1,080,000( depends on what level of salary you were approved at on your work permit application. If you put 40K or 50K per month. Labor dept does not require the same salary as Immigration for a extension of stay.

Number of Thai Employees: 8 (or 4)? 8

www.sunbeltasiagroup.com

[Sunny Valentine]

Thanks again, all claer now.

Just one thing: My figures of 1.15 are excluding VAT. Including VAT that would be 1.23 That seems to make a big difference! What figure counts?

Sunny

[Sunbelt Asia]

Thanks again, all claer now.

Just one thing: My figures of 1.15 are excluding VAT. Including VAT that would be 1.23 That seems to make a big difference! What figure counts?

Sunny

Excluding Vat.

www.sunbeltasiagroup.com

[Sunny Valentine]

I went to my accountant today to get the info on my balance sheet.

I was right, less than 1.2 Million turnover on the sheet.

But, the boss of the company (who is also a very well known layer and barrister in Pattaya) told me that Pattaya Immigration is reading the new regulation in a completely different way:

They demand to see profits enough to cover the foreigners salary for the next year!

He told me they just turned down the extension of his foreign worker based on the grounds that his (100% Thai owned company) made only a small profit in the last fiscal year, based on the fact that they reinvested most of the profits.

So it looks now that you can forget 1 Year Business extensions in Pattaya for the time being, unless someone changes something again?!

Can someone verify this?

Anyone had a Business extension accepted in Pattaya since October? And if yes, how well did the company's profit figures look?

<deleted>???

Sunny

[Sunbelt Asia]

I went to my accountant today to get the info on my balance sheet.

I was right, less than 1.2 Million turnover on the sheet.

But, the boss of the company (who is also a very well known layer and barrister in Pattaya) told me that Pattaya Immigration is reading the new regulation in a completely different way:

They demand to see profits enough to cover the foreigners salary for the next year!

He told me they just turned down the extension of his foreign worker based on the grounds that his (100% Thai owned company) made only a small profit in the last fiscal year, based on the fact that they reinvested most of the profits.

So it looks now that you can forget 1 Year Business extensions in Pattaya for the time being, unless someone changes something again?!

Can someone verify this?

Anyone had a Business extension accepted in Pattaya since October? And if yes, how well did the company's profit figures look?

<deleted>???

Sunny

Not surprised about Pattaya. By the way, even though your business is in Pattaya, you can apply for the extension of stay based on business in Bangkok.

www.sunbeltasiagroup.com

[Sunny Valentine]

Not surprised about Pattaya. By the way, even though your business is in Pattaya, you can apply for the extension of stay based on business in Bangkok.

www.sunbeltasiagroup.com

Great! My manager will go for a B Visa soon. Hope we get an answer from Vientiane about the required documents. Or else Penang, it is just that he wants to go see friends in Nong Khai anyway .....

I will have my Accountant change our fiscal Year to the full Year now, and will contact you about extension in Bangkok probably in January.

By the way, according to Accountant the Chonburi Social Welfare Office now refuses to register foreign Directors ..... Guess this will be an other problem with Immigration for an extension, as in my understanding this is a requirement!?

Sunny

(Who slowly but surely starts to believe it was a mistake to ever try to go the legal way .... the amount of money spent on lawyers, fees, and other things sums up quite a lot, and the results are that they almost daily invent new rules which are impossible to fulfill.

Yossarian in Catch 22 could not have felt different ....

[Sunbelt Asia]

By the way, according to Accountant the Chonburi Social Welfare Office now refuses to register foreign Directors ..... Guess this will be an other problem with Immigration for an extension, as in my understanding this is a requirement!?

Immigration requires the social fund for employees. If you have no employees and are only a foreign Director, no need to apply. Once you have employees, you must register.

Who slowly but surely starts to believe it was a mistake to ever try to go the legal way

It will get better.

www.sunbeltasiagroup.com