Question about company owned condo transfer

[ericg1953]

My friend is selling his company owned condo here in Thailand.  He’s had the company for 13 years and is the director with 49% owhership.  The condo will be sold to a Thai national. 

 

What will be the requirements at the land office to transfer. I’ve heard just the director signature is required but I’m 

not sure.  The company has up to date balance sheets but 6 thai limited shareholders that nobody who or where they are as the company was set up many years ago by a law firm that no longer exists.  

 

TIA

[Delight]

I guess that the transfer from a Thai Company to a Thai  national will be straight forward.

Typical transfer costs will apply.

This assumes that your friend controls the majority of the voting rights

Closing down the Thai company will be more difficult and potentially expensive.

Edited December 7, 2017 by Delight
Spelling

[Langsuan Man]

7 hours ago, Delight said:

Closing down the Thai company will be more difficult and potentially expensive

Correct, anywhere from 50 to 75 K Baht to legally close a company and if you don't close the company they can come back after the Director with big fines for failing to file and pay taxes 

[huawei]

I was advised that The total transfer costs out of a company will be more expensive, than the transfer between 2 individuals..I think it was because of additional taxes that have to be paid by the company on sale..plus as stated then closing the company..not cheap.