New work permit rules

[Nicke]

Posted by SunBeltAsia on ThaiVisa.

New Work Permit rules have just been released. Any work permit submitted after October 8th 2004 must follow these regulations.

Here is the Reader Digest version.

A company who has a director seeking employment or an foreign employee to be hired, now must have 2 million Baht registered paid up capital per work permit. (This is different from before which only required foreign directors to have 2 million Baht registered capital)

If however your employer was registered in another country and was doing business in Thailand before October 30th 2002, they are required to show a bank account of 3 million Baht or show evidence that the employer transferred money from overseas in the last 6 months. Only one expat per 3 million in the bank account.

If the employee is legally married, than they only need 50% of the capital required.

If the employer can meet one of the following conditions, the employee can be exempt on the registered requirement however the corporation cannot have more than 10 work permits.

1) Hired by an employer who paid not less than 3 million in tax last calendar year

2) hired by a employer in the export business, which had export revenue of not less than 30 million last year

3) hired by a employer in the travel business, which had not brought less than 5,000 tourist to Thailand in the past year

4) hired by an employer who has not less than 100 Thai employees employed

Exemptions for the following as well

Any alien that has the work permit must transfer his knowledge about technology to two Thais within the period the Thai government has set up. The expat must be an expert in a specific project.

The alien who is hired to perform as an entertainer.

Expats working for non-profit foundations.

The representative of the company, that has headquarters overseas, that are important for releasing news about their brand, can only have a total of two expats employed.

The representative of the company, that has headquarters overseas, employed to inspect for quality control, only 5 expats can be employed. Exemption if the employer had bought not less than 100 million Baht from Thai suppliers the last calendar year than its possible to get more than 5 work permits.

Complete translation word by word tomorrow.

[Baz]

to nicke

what does registered paid up capital mean exactly

baz

[Nicke]

I think you need to have 2 million baht cash in a bank account.

[Coolhand]

In the UK that could be in property, goods, services, good will or know how; doesn't have to be cash

[geespot]

Originally Posted by Nicke

I think you need to have 2 million baht cash in a bank account.

Hi Nicke

It doesnt mean this!!

It means that you must have paid fully for 2m baht of shares in the company

It is common practice to have say 2m baht of shares available but not all paid for, i.e. the capital input (cash) paid into the company is less than 2m baht

Cheers G