Overseas business Owners that have set up a business in Thailand and wish to relocate to the country to handle that company have a choice between applying for the entrepreneur pass as well as the employment pass. Each kind of pass has its own pros and cons and hence many overseas entrepreneurs are often confused which sort of pass they need to be applying for. However, what entrepreneurs should note is that the sort of pass that is acceptable for them depends upon several variables such as the rules and regulations governing each work pass.
For example, if the desmond teo yen koon Entrepreneur would like to relocate to Thailand almost immediately after finishing their business incorporation, then it is compulsory for them to apply for the entrepreneur pass only. Officially called the Thailand Entrepass, overseas business owners should apply for the entrepreneur pass if they are applying immediately after business registration. But if the foreign business owner is about to wait at least six months because the company was incorporated, then they may apply for the job pass also. Obviously during those six months the Thailand Company has to be operational and should have the ability to meet all of its goals as set in the company plan.
As per the above Mentioned previously, if you cannot wait to relocate to Thailand, then you do not have any option except to apply for the entrepreneur pass. However, if you believe you can handle the Thailand company from abroad for the first six months you might examine the other pros and cons of each kind of work pass. Those applying for the entrepreneur pass have to invest at least SGD 50,000 as paid up capital in their newly incorporated company in Thailand. If you feel you cannot invest that much amount initially, you are able to register a business with the minimum paid up capital requirement of just SGD 1 and then after six months apply for your job pass for relocation. Typically the employment pass would suggest that you are going to be working as a worker under your own business in Thailand. Since all employment passes have to be endorsed by a Thailand company, your company based in Thailand would become the endorser. Therefore that company has to be fully operational and in good standing in the nation so the Ministry of Manpower in Thailand may consider your application as a valid requirement.
Limited Partnership Appears to be a flexible company structure for entrepreneurs not interested to take any sort of responsibility for business management purposes. Such entrepreneurs typically hand over their direction of business to an entirely different entity. The chosen thing can be either an individual or a company, enjoying unlimited liability. There are more than one, overall and over one, limited partners, in a Limited Partnership business. Please be aware, if general partners decide to participate in the company function they become liable, and their personal assets are pledged. To the contrary, limited partners are liable only for the amount they have contributed.