Article Directory :: Legal Articles Thai Company Ownership: The Key to Economic Freedom in Thailand By Ben Hart Republish: EasyPublish™ Published: 25Nov2009 Word count: 461 Viewed: 414 time(s) Get Free Content For Your Site The following article is intended as a brief overview about how setting up a Thai company can be useful for those wishing to live and work in the Kingdom of Thailand. This article alone should not be viewed as a substitute for legal advice or research. There are many major issues that surround maintaining an expat existence in the Kingdom of Thailand. A Thailand visa as well as a Thailand work permit are two critical concerns for those wishing to remain n the Kingdom of Thailand on a long term basis. Unfortunately, work permits and visas that are granted by employers can be taken away should the employment cease. This can be a big problem for those who wish to seek other employment in the Kingdom of Thailand. When Thai Immigration issues a Thai visa extension based upon the existence of a Thai work permit, then the visa will expire 7 days after the work permit is canceled, regardless of the remaining validity of the visa. Therefore, if a visa and work permit are "tied together," and one's employment comes to an abrupt end, then the loss of employment could mean being forced to leave the country (for a length of time long enough to secure another visa). This is why a Thai Company can be a boon to foreigners staying in the Kingdom of Thailand. A foreigner in control of a Thai limited company can essentially control his or her Thai visa and work permit. In a way, the foreigner is self employed. This is a particularly popular method of maintaining lawful status in the Kingdom for those who work in the service industry. For example, a computer programmer working in Thailand could set up a Thai company and have other employers utilize his services as a subcontractor. The employer would pay the company and the company would pay him a salary. Importantly, if the job came to an end, the programmer would not lose his visa and work permit status, only that revenue stream. As a result, that person could go search for employment elsewhere while still maintaining a valid work permit and visa. Taxes can be an issue if this type of endeavor is undertaken as the taxes of a company must be kept up to date on a yearly basis. Further, in the case of the Thai Value Added Tax, it may be wise to be certain that these taxes are paid on a monthly basis. There are also employee requirements in order for a visa extension to be issued, but a work permit could be maintained without meeting this requirement if the foreigner maintains a long term multiple entry Thai visa. However, consultation with a legal professional may be wise before pursuing this course of action. The author, Ben Hart, is an attorney from the USA and Managing Director of Integrity Legal (Thailand) Co. Ltd. A Firm with licensed Thai lawyers. For mor information please contact 1-877-231-7533 or in Thailand call +66 (0)2 266-3698, via email contact info@integrity-legal.com. See further articles on the internet at Thailand business visa or Thailand Company. EasyPublish™ this article - publishers click here More articles by Ben Hart

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