This week among all the events, note:
- Meet the Premier (Prime Minister Abhisit) on Monday!
- Bangkok Young Professionals on Tuesday.
- And then relax till the end of the week! 
All events and details on the Bangkok Networking Calendar.
This week you don’t want to miss:
- Bangkok Trader on Tuesday. Free for all!
- Web Wednesday on… Wednesday. A true Thai event!
All events and details on the Bangkok Networking Calendar.
Busy week this week with a lot of Networking Evenings, including the now famous Thirsty Thursday.
+ for the Happy Few, the Coyote Sukhumvit Restaurant 2nd anniversary.
You can find the details of all the Networking Organizations here and a list of all the Chambers of Commerce here.
Trade Sales Manager
Madame Tussauds, Bangkok
Salary: From 100k baht per month depending on experience plus commission
Location: The Madame Tussauds attraction, 6th floor, Siam Discovery Centre
Interested in working for the world’s best wax museum? If a fast-paced environment surrounding entertainment, celebrity and fun appeals to you, read on…
Merlin Entertainments Group will be opening its tenth Madame Tussauds attraction round the world in Bangkok this coming September.
With a superb location in the Siam Discovery Centre, this attraction is set to become one of the city’s “must-see” attractions.
Filled with the most life-like wax figures in the world across sport, history, culture, film and music, this will surely be 2010’s hot ticket. Your
job will be to ensure our domestic and inbound trade partners are selling our tickets well before opening.
You will have a minimum of 5 years’ experience in the trade, leisure, hospitality or tourism sector and already know who the key clients are.
Your negotiation skills will be excellent as will your financial and commercial awareness. Reporting to the Sales & Marketing Director, you will recruit and manage the Trade Sales Team. You will be required to travel frequently to trade shows and other inbound trade partners.
This role is extremely high-profile and you will be required to hit the ground running. Assertive, confident and highly numerate, you will be a total self-starter and hungry for progression.
If this all sounds like you, please respond with your CV and one page letter explaining why you’re the best candidate for the job to Mr Rob Smith at rob.smith@merlinentertainments.biz
Closing date: 24th February 2010
All applications, Thai or ex-pat with relevant experience, are welcome.
(source: TDA)
The concept of the investment visa is not new in Thailand.
For example, after the crisis of 1997 an investment visa with a ceiling of not less than 3,000,000 THB of investment was created as an incentive to help Thai developers to sell their stock of condominiums units’ leftover of the crisis to foreign investors. This visa was discontinued in October 2006 once Thai economy picked up.
Note: Discontinued only means that new applications for this particular investment visa were not accepted after the 1st October 2006 but foreign investors who have invested not less than 3,000,000 THB, have entered Thailand and received a permission to stay before the 1st October 2006 and have since then renewed their visas each year without any interruption are still benefiting from this promotion.
Now as a result of Thai political crisis and the world economic crisis Thailand has reintroduced the concept of the investment visa. The only difference with the former investment visa is that the minimum investment ceiling has been increased from 3,000,000 THB to 10,000,000 THB.
Is the new investment visa a good thing?
The new investment visa is very welcome because it permit to fill a gap in Thai visa offer.
Indeed for the past 3 years we did not have a real visa alternative to offer to wealthy foreign citizens below 50 years old that wanted to live in Thailand on a long term basis without working. Now this gap is filled and this is a good news for everyone.
Of course the minimum investment ceiling has been increased a lot (from 3,000,000 THB to 10,000,000 THB) but with new condominium units pricing ranging from 80,000, 100,000, 125,000 and even 350,000 THB per sqm most investors purchasing condominiums or leasing houses in Thailand will fulfill the minimum investment criteria.
And if the condominium you purchase cost less than 10,000,000 THB then you will still have the option to combine two types of investments to reach the ceiling (for example a condominium of 7,000,000 THB and state bonds of 3,000,000 THB).
Conditions to obtain the new investment visa
The foreign investor that wishes to obtain a one year visa investment must:
(1) have been granted a non-immigrant visa (Non Immigrant); and
(2) have evidence of transferring funds into Thailand of no less than Baht 10 million; and
(i) have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 years issued by a relevant agency or government, at a purchase or rental price of no less than Baht 10 million; or
(ii) must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of its shares; or
(iii) must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; or
(iv) must have evidence of making an investment as set out in criteria (3), (4), or (5) with a total value of not less than Baht 10 million.
Note: The only catch is that this promotion only apply to foreign investors that have invested after the 25 November 2008 and onward. Those that have purchased condominium units between the 1st October 2006 and the 25 November 2008 do unfortunately not qualify.
Documents requirements
As always you will need
- Passport or travel document with validity of not less than 6 months;
- Completed visa application form.
- Recent passport-sized photograph (4 x 6 cm) of the applicant taken within the past 6 months.
- Documents to support that you have indeed invested 10,000,000 THB in Thailand (such as Foreign Exchange Transfer Form, Bank Credit Advice, Sale and Purchase Agreement and Title Deed and so on….)
If you fulfill all the conditions mentioned above and if you are able to provide all the documents required you will be able to receive each year a one year extension period for as long as you maintain your investment in Thailand.
Note: passport requirement validity of not less than 6 months is for when you apply for the 90 days Non Immigrant Visa at the Thai Embassy. When you apply for the one year extension period at the Thai Embassy you will need 18 months of validity at least.
Warning
The documents listed above are the minimal requirements applicable and the fact that you have provided all the documents requested does not always guarantee a favorable outcome.
—
Article from “Doing Business in Thailand”, by Rene-Philippe DUBOUT, lawyer since 1990.
© Copyrights 2009 – Rene Philippe Dubout
You want to start a limited company in Thailand? Contact us now.
Here is a useful word: Gii = How much/How many.
Easy to remember, easy to pronounce, easy to understand.
Vocabulary:
Gii Khrang?= How many times?
Gii Chua Mohng? = How many hours?
Gii Mohng?= What time is it?
Gii Pii? = How many years?
Gii Khon? = How many people?
—
More thai lessons here.
Not to be missed this week: The InterNations, the only true international Networking event in Bangkok! It’s on Wednesday and it’s at The Barbican pub on soi Thanyia, near Silom. 7pm onwards.
Check all the networking events on the Bangkok networking calendar.
You can find the details of all the Networking Organizations here and a list of all the Chambers of Commerce here.
This is a question you will have each time you will start and speak a few words of Thai: How long have you been here? (How long have you been living in Thailand?).
Better you get used to it.
Vocabulary:
Yuu Thii… + location = to be somewhere (see lesson 35)
Gii = How much, How many
Pii = Year (see lesson 36)
Question:
Khun Yuu Thii Muang Thai Gii Pii Laew? = How long have you been living in Thailand (You Stay Country Thai How Many Years Already?)
Answer:
Phom/Dichan Yuu Thii Muang Thai 2 Pii/Deuan/Aathit Laew = I’ve been living here 2 years/months/week.
—
More thai lessons here.
New this week, the Bangkok Networking & Events Calendar!!! All the networking of the Week, the Month and the Year in Bangkok and in Thailand.
Find the calendar here. You can add you own events.
Not to be missed this week: The Bangkok Young Professionals (free if you are a member) on Tuesday and the GOYP Karneval Frenzy (German Open Young Pro) on Thursday.
Please leave us your feedback and comments about this new calendar here below.
Contrary to a common belief there are no minimum wages applicable to foreign workers. But because there is always a but in Thailand the Immigration Department has developed a minimum wage schedule applicable to foreign workers who benefit of a work permit and wants to apply and obtain a one year B visa extension.
The minimum declared wage schedule is as follows:
| Countries | Minimum Income Declared
in Thai Baht |
| Europe and Australia, Canada, Japan, the United States of America (except Russia) | 50,000 per month |
| South Korea, Singapore, Taiwan, and Hong Kong | 45,000 per month |
| Asian Countries (except Japan, South Korea, Singapore, Taiwan, Hong Kong, Cambodia, Myanmar, Laos, and Vietnam)South America,Eastern Europe,Central America,
Mexico, Russia, South Africa |
35,000 per month |
| All African Countries (except South Africa), Cambodia, Myanmar, Laos, and Vietnam | 25,000 per month |
The minimum schedule does not mean that your employer will have to actually pay you those minimum wages, but mean that your employer will have to declare this minimum salary and that you will have to pay social security and personal income tax based on this minimum salary if you want to have any chances to qualify for a one year B visa extension.
Note that I know a few business owners who paid themselves only the minimum salary requested by the law in order to limit their tax liability. This is a very shortsighted and very stupid (excuse my French) move. Why, simply because declaring the minimum salary only will limit what you can do in daily life. For example the credit card company will limit your credit drastically if you only declare the minimum income. Or some credit cards companies may even refuse you as a customer as their minimum salary requirement is higher for foreigners than for Thai. If you declare a to low salary you may not be able to purchase a car in leasing which you could have done otherwise.
But the most important thing is that if you declare a too low salary you may never qualify for a resident permit.
While the Revenue Department has mostly let foreigners alone for the time being it is not impossible that one day they start to audit foreign workers and check the income they actually declare against their way of life. Those who are declaring a salary of 50,000 THB on the one hand while on the other hand renting a 60,000 THB condominium and putting two kids through private school may find themselves in hot waters if this ever happen.
—
Article from “Doing Business in Thailand”, by Rene-Philippe DUBOUT, lawyer since 1990.
© Copyrights 2009 – Rene Philippe Dubout
You want to start a limited company in Thailand? Contact us now.
