OSSC eligibility requirements change for non-BOI companies
10 Mar 17
IMPACT – MEDIUM
What is the change? Thailand has changed the One-Stop Service Center eligibility requirements for non-Board of Investment companies filing long-term visa extensions for work permit holders.
What does the change mean? In order to be eligible to use the OSSC, companies must (1) have 30 million baht (about US$850,000) in registered capital fully paid up, or (2) be able to show on their most recent audited financial statement that they have 30 million baht in assets remaining after current liabilities are deducted from current assets. Under the old rules, companies using the second option only had to show that they had 30 million baht recorded as total assets.
- Implementation time frame: Immediate and ongoing. The change took effect this week.
- Visas/permits affected: Long-term visa extensions for work permit holders.
- Who is affected: Non-BOI companies using the OSSC to file long-term visa extensions for work permit holders.
- Impact on processing times: The change could lead to significantly longer end-to-end processing times for companies that are no longer eligible to use the OSSC for long-term visa extensions.
- Business impact: Companies should assess whether they are eligible to use the OSSC under the new rules.
Background: The change took effect this week without advance notice. Authorities have communicated the shift in policy to applicants verbally, however, as applications are submitted and processed.
BAL Analysis: Companies that are no longer eligible to use the OSSC for long-term visa extensions can submit applications at the Chaeng Wattana Immigration Office Immigration Center. There are drawbacks to this option, however, including additional documentation requirements, more scrutiny in the review process and longer end-to-end processing times. BAL is available to assist companies in determining whether they will be affected by the OSSC’s rule change and, if so, determining what their best options are for obtaining long-term visa extensions.
This alert has been provided by the BAL Global Practice group and our network provider located in Thailand. For additional information, please contact your BAL attorney.
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