Thai limited company vs foreigners partners

[Petchou]

Is there someone knowledgeable who can help.

Is it possible for a Thai owner of a limited company to give part of his/her Company to a foreigner if they want voluntarily?

If this is possible, does it allow the foreigner who is under non immigrant-O visa to switch to non immigrant-B visa?

Your help and advice are highly appreciated.

Thank you.

 

[Maestro]

You do not need to own shares of a Thai company to get, from a Thai embassy or consulate, a non-B visa to travel to Thailand for the purpose of conducting business.

[ubonjoe]

You cannot change non immigrant visa categories while in the country. The only way to get a non-b visa is to apply for one at a Thai embassy or consulate after a work permit application is done.

Dependent upon what your non-o visa was issued for you might be able to change the reason for your extension of stay to working.

[natway09]

Share transfers require a "consideration" these days to avoid the anti laundering mob from getting involved. You cannot start the process for a "Non B " in Thailand unless the virus has changed Immigration's policy

[khunPer]

On 8/7/2020 at 4:11 PM, Petchou said:

Is it possible for a Thai owner of a limited company to give part of his/her Company to a foreigner if they want voluntarily?

If this is possible, does it allow the foreigner who is under non immigrant-O visa to switch to non immigrant-B visa?

Your help and advice are highly appreciated.

A thai can transfer/sell shares to a foreigner in a Thai company limited as long as the total number of shares held by foreigners don't exceed 49 percent. I believe there shall always be minimum three shareholders, like when a company limited is registered.

 

You don't need any special visa status to be a shareholder, nor as director on board level only.

 

Being a shareholder in a Thai company limited don't qualify for a non-B visa, you need a work permit – or agreement/contract for work – and the company need to fulfill the conditions for employing a foreigner; normally it's minimum two million baht shareholder capital, and four Thai employees, for one foreigner's work permit.

 

If you are married to a Thai, you don't need to change visa status from non-O to non-B to obtain a work permit. To my knowledge you cannot change to a non-B domestically.

[Petchou]

2 hours ago, khunPer said:

A thai can transfer/sell shares to a foreigner in a Thai company limited as long as the total number of shares held by foreigners don't exceed 49 percent. I believe there shall always be minimum three shareholders, like when a company limited is registered.

 

You don't need any special visa status to be a shareholder, nor as director on board level only.

 

Being a shareholder in a Thai company limited don't qualify for a non-B visa, you need a work permit – or agreement/contract for work – and the company need to fulfill the conditions for employing a foreigner; normally it's minimum two million baht shareholder capital, and four Thai employees, for one foreigner's work permit.

 

If you are married to a Thai, you don't need to change visa status from non-O to non-B to obtain a work permit. To my knowledge you cannot change to a non-B domestically.

Thank you for your reply.  It's clearer now for me. ????????????

[timendres]

3 hours ago, khunPer said:

A thai can transfer/sell shares to a foreigner in a Thai company limited as long as the total number of shares held by foreigners don't exceed 49 percent. I believe there shall always be minimum three shareholders, like when a company limited is registered.

The exception being US citizens, who can own any percentage of a Thai limited company. The number of shareholders rule still applies.

[Petchou]

3 hours ago, khunPer said:

A thai can transfer/sell shares to a foreigner in a Thai company limited as long as the total number of shares held by foreigners don't exceed 49 percent. I believe there shall always be minimum three shareholders, like when a company limited is registered.

 

You don't need any special visa status to be a shareholder, nor as director on board level only.

 

Being a shareholder in a Thai company limited don't qualify for a non-B visa, you need a work permit – or agreement/contract for work – and the company need to fulfill the conditions for employing a foreigner; normally it's minimum two million baht shareholder capital, and four Thai employees, for one foreigner's work permit.

 

If you are married to a Thai, you don't need to change visa status from non-O to non-B to obtain a work permit. To my knowledge you cannot change to a non-B domestically.

I am now a shareholder with 2 other shareholders as you mentioned.

Being outside Thailand at the moment, what is best way to go back legally?

Is a work agreement/ contract enough or better go for work permit?  Should all these be done in Thailand or at Thai embassy where I am now?

Thank you so much

[khunPer]

2 hours ago, Petchou said:

I am now a shareholder with 2 other shareholders as you mentioned.

Being outside Thailand at the moment, what is best way to go back legally?

Is a work agreement/ contract enough or better go for work permit?  Should all these be done in Thailand or at Thai embassy where I am now?

Thank you so much

To my knowledge you need an agreement/a contract for work – and the company shall of course fulfill the conditions for obtaining a work permit for a foreigner – then you should be able to apply for a non-immigrant B visa in a Thai embassy abroad, and thereafter apply for permission to return to Thailand also at a Thai embassy. The company's accountant or lawyer should be able to make the necessary documents. There are other threads about entry under the Covid-19 exception rules and the mandatory quarantine.

 

Edit, insert images with government instructions...

 

 

Edited August 8, 2020 by khunPer