Guest Posted August 18, 2001 Report Share Posted August 18, 2001 FD, could you supply the name and contact details of the lawyer you used please? regards, blackie Link to comment Share on other sites More sharing options...
Guest Posted August 18, 2001 Report Share Posted August 18, 2001 The Flying Dutchman, I'd also appreciate contact details for your lawyer on this. Thanks nepfan@hotmail.com Link to comment Share on other sites More sharing options...
Guest Posted August 18, 2001 Report Share Posted August 18, 2001 You need to be careful in this area. I work in Hong Kong now, but worked in Bangkok up until a year ago, and have a few farang lawyer friends in Thailand. To get one work permanent, the company hiring you must have registered and paid capital of two million baht. The “paid up” part is important because under Thai law you generally only need to pay in 25%. The capitalization requirement is halved if you are married to a Thai. If you are setting up your company for purposes of obtaining a work permit, keep the minimum capitalization requirement in mind. Also bear in mind that some occupations are barred to aliens under the work permit law. You don’t necessarily need Thai partners or Thai shareholders, particularly if you are an American. The Alien Business law only restricts businesses engaged in certain kinds of businesses. If you want to set up a business that will engage in activities that are not restricted under the Alien Business Law, you don’t need local Thai partners. The same is true of Americans, who are treaty exempt from most of the Alien Business Law. A private limited company, however, requires a minimum of seven shareholders irrespective of whether it is subject to the restrictions of the Alien Business Law. If you want permanent residency, you basically have two options. First, set up a business, get a work permit and long stay visa, maintain it for three continuous years, and then after staying in Thailand legally for three years, you can apply. If you own a business, your chances of getting permanent residency are better, but it is still pretty hard unless you work for a major multinational or have excellent connections. (Sorry, but not the type of connections you are going to find in a place like Nana.) The BOI had a program where you could get a permanent visa by investing 8 million baht in a condominium or government bonds for five years. If someone says they can short cut these requirements or they have special connections such that they can get around the rules, you are being scammed. Hire a competent and reliable law firm. I would stick to reputable firms with at least one ex-pat farangs that have been here for at least four or five years. The international firms are expensive, but I wouldn’t chance a local operation. I know a lot of people who have been taken. There is a lot of misinformation out there on this subject. Link to comment Share on other sites More sharing options...
Fatbastard Posted August 19, 2001 Report Share Posted August 19, 2001 quote: There is a lot of misinformation out there on this subject. You are dead right, and it still amazes me that people come up wit these shonky structures that they think give them protection. The correct information is easily available on sites like the thai lawforum. The IR dept has just hired a few thousand more inspectors, so if you have an illegal company, you are more likely to have a visit in the near future. Link to comment Share on other sites More sharing options...
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