New Work Permit Regulations 2012:What are the changes and how do they affect Limited Companies and BOI Companies in Thailand?
BOI (Board of Investment) and Thai Company ComparisonFormation Thai BOI (Board of Investment) (51% Thai) Must not grow in business Up to eight years profit tax Not strictly controlled as holiday BOI One stop visa Cheaper Setup fees One stop work permit Pro Faster company setup Legal Foreign ownership (4-6 weeks) Legal Land ownership Business objectives can be altered easily No easy legal ownership Capital needs to be paid up in (51% Thai) full within 3 years Stricter Visa rules Regular special reports and Stricter work permit rules checking Must hire Thai employees Must grow in business Contra for work permit proportion Long setup time (4-6 months) More expensive setup More expensive accounting fees Difficult or impossible change of business objectives
Visa application (or renewal): In Thailand or Abroad?Within Thailand (Immigration) Outside of Thailand (Foreign Affairs)Apply at Chang Wattana Apply at a Thai Embassy/ConsulateSalary Caps Can have a work permit with 35,00040,000 Baht Married Baht salary as required per labour50,000 Baht Business Visa (most) department.Report or exit every 90 days! 90 days exit!Can apply permanent residence Cannot apply permanent residenceunder certain criteriaMust have 4 Thai employees Not required to have 4 Thais
Application for your work permit at BOI Labour DepartmentBOI Job Approval/Renewal Has nothing to do with the visajob position expires once a year! but will need you to have one!Issues and renews with 1 day once Issues within 7 days and renewsjob position renewed or approved. within 3 days.
Work permit: New rules First time applicationNew regulation Old regulationPicture (3x4 cm) Pictures (5x6 cm)Blood Type Not requiredNote:For renewals of work permit it is now required to provide a recentmedical certificate same as for the first time application
• Who is Bangkok Practice Co., Ltd.???• Legal• Accounting• Business Services 47th Floor, 195 Empire Tower, Unit 4703, South Sathorn Road, Yannawa, Sathorn, Bangkok
Questions?• Any questions?• Please send further question to• email@example.com or call 02-6863-446• Eager one please use M. 085-163-6900