Land company owner

[ST11]

Hi,

i am a director of company that is owner of land under my house. We are moving to Thailand and I'm going to apply for retirement visa. Is it legal? As I know under this visa I can not work. I don't have salary as company is for land ownership and no activity. 

Any suggestions or experience?

thanks

[blackcab]

You will have no problem with your visa/extension because you are the director of a Thai company.

[ST11]

Thank you

[ST11]

21 hours ago, blackcab said:

You will have no problem with your visa/extension because you are the director of a Thai company.

I'm still not sure. 

So I don't need work permit to be a director of Thai company, correct?

[JB300]

I'm still not sure. 

So I don't need work permit to be a director of Thai company, correct?

I'm guessing you're a Director (in name only) of a nominee company used (as a loophole) to buy land, if so then the less you say about that probably the better (if not then I apologise).

No problem getting a retirement visa as long as you meet the criteria (over 50, 800k in a bank or 65k income or combination).

No need for a work permit (you won't get one anyway without a Non B Visa & employing the required number of Thais)

[taninthai]

23 hours ago, ST11 said:

I don't have salary as company is for land ownership and no activity. 

This sounds like the illegal bit(loophole) ,but yes many do it.

As another said less said about that the better.

[blackcab]

2 hours ago, ST11 said:

I'm still not sure. 

So I don't need work permit to be a director of Thai company, correct?

 

You need a work permit if you work in Thailand. If all you do is attend the annual meeting and sign the minutes, you don't need a work permit. 

 

If you do other work in Thailand for the company, for example you are the Managing Director, you need a work permit.

 

You will not be asked about being a company director during your application for a visa/extension.

[ST11]

Thanks to everybody