FatTom

Don't know about Phuket but i play on Samui in a League ( 5 A Side ) & it's friendly as we all know each other but it's also very competetive & there was half a punch up last week, if you can call it that !!

Both Mancs i may add...

5 A side in Samui - I might be interested - when and where is it ?

About to lease some land on a 30yr lease. Do I need a formal company setup to lease the land or for the moment can my Thai Girlfriend sign the lease ? Is there some agency I need to see to confirm the lease ?

Shortly I will be undertaking a business venture involving myself and 3 other farang parters.

We will be leasing 5 rai of land over 30 years and will be clearing the land and amongst other things will be building a restaurant and a bar.

Originally there were two partners who were going to set up a company in the name of their girlfriends though obviously the new partners want some form of formal ownership.

I understand that less costs are involved with setting up a thai company so this is a consideration

So my questions are;

1) What are my best (and by best I mean safest and most cost effective) options here to share ownership of the company between the four partners ?

2) Should I setup the company before signing the lease of the land so that the company can own the lease as opposed to the

lease being in the name of the partners and the girlfriends ?

3) We do not plan on opening until the first of the year but we may actively be involved in fund raising. At what point would we require work permits ?

4) As I mentioned earlier, it is my understanding that there are less costs involved with setting up a thai company, IE less taxes. What exactly is the difference between a thai company and a farang one as I thought that all companies had to be thai owned by at lease 51%.