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This article provides an overview of the extension of the business visa in Thailand.
If you wish to extend your stay in Thailand, you may consider applying for the business visa extension, which unlike the one-year business visa, you do not need to leave the country.
Let’s find out the requirements for the extension.
Regulations regarding the business visa extension
Regulations that must be met in order to obtain the business visa extension are:
- The company must:
- Be registered in Thailand
- Have a ratio of four Thais for every foreigner (4:1)
- Have a paid-up capital of THB 2 million
- Have net equity equal to THB 1 million
- Show revenue of the previous year, including the salary of all employees
- Submit the previous year’s profit and loss account which must be certified by a certified accountant
- The applicant must:
- Have a valid Thai work permit
- Earn a minimum salary in accordance with the amount specified for each nationality
The above conditions are only applicable to non-BOI (standard) companies.
The following entities have relaxed the requirement for the 4:1 Thai national ratio and extensions can be made with a 1:1 ratio:
- International trade business (representative office)
- Regional office
- International companies (branch office)
- BOI-promoted limited company
Minimum wage for foreigners in Thailand
The following table provides the minimum wage for different nationalities working in Thailand.
|Minimum wage/month (THB)||Country of origin|
|60,000||Canada, Japan and the United States of America|
|50,000||Europe (including the United Kingdom) and Australia|
|45,000||Hong Kong, Malaysia, South Korea, Singapore and Taiwan|
|35,000||China, India, Indonesia, the Middle East and the Philippines|
|25,000||Africa, Cambodia, Laos, Myanmar and Vietnam|
What documents are required for the extension?
When applying for a business visa extension, there are certain documents that are required. The documents include:
- An application form for the extension of stay (T.M.7)
- Copy of the applicant’s passport (including a copy of the passport photo, latest arrival stamp, re-entry permit stamp and departure card)
- Certificate of employment prepared in accordance with the Immigration Bureau regulations
- Copy of work permit
- Proof of corporate registration, ie certificate of incorporation of company or partnership certified by the Registrar
- List of shareholders certified by the Registrar within the last six months
- A copy of the latest balance sheet and income statement, corporate income tax return (PND 50) and receipt. A copy of the SBC 3 must be certified by either the Revenue Department or the Department of Business Development
- Copy of the withholding tax returns of the three last months showing the name of the employee and the foreign applicant and the receipt certified by the Revenue Department
- Copy of the latest social security contributions filed with the Social Security Office and receipt certified by the Social Security Office
- Copy of latest personal income tax return of the applicant with the receipt
- Copy and the receipt of the last three-monthly VAT returns certified by the Revenue Department
- Proof of the need of the business to employ the foreigner, ie no Thai candidate has replied after advertising for the position
- Map of the workplace
- Other supporting documents required by the appropriate authority (SSM 2)
- Exterior photos showing the address and the sign of the company name, and interior photos showing the employee while working
- In case the application is accompanied by a family member, proof of family relationship must be provided. If the documents were issued by a foreign government, it must be certified by the foreign embassy.
What are the benefits of an extension of stay visa?
The main benefits of having the extension of stay visa are that the employee is not required to leave the country during their stay and only have to report themselves at the Immigration Office every 90 days.
How long does the process take?
If all the requirements are satisfied, the process of extending business visas will take approximately 30 days.
Acclime has a professional visa and immigration team that can guide you throughout the process of extending your visa.
Acclime is Asia’s premier tech-enabled professional services firm. We provide formation, accounting, tax, HR and advisory services, focusing on delivering high-quality outsourcing and consulting services to our local and international clients in Thailand and beyond.