Now that you have bought your business in Thailand you need to look at the issue of work permits and visa extensions in the Kingdom. This is a brief breakdown of the last changes made to employment of foreigners.
In 2009 when the economy went South the Thai government made certain changes to employment of foreigners. These are as follows:
1. The company apply for the work permit must have at least 1 million Baht shareholders equity;
2. Total earnings must not be less than the salaries of the foreigners.
If you could not prove these then you would have a problem having your foreign staff having thier visas extended. Before the changes however the rules had been even stricter. They now also take the following into consideration:
1. Is the company operating according to what it has been registered as;
2. The company has qualified financial statements;
3. The company pays VAT;
4. The company pays Social Security;
5. The company pays Business Taxes;
These are just a brief of what it is that they look at when you want to employ foreigners. If you need more detailed information about the requirements with regards to obtaining a work permit and having your staffs’ visa extended then speak to any of our solicitors in Bangkok, Pattaya, Samui, Phuket, Hua Hin or Chiang Mai. You can also speak to us via our toll-free telephone number or on live chat on our main website.
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