Corporation structure

[JAZZDOG]

I have visited 4 of Pattaya's not so best and brightest attorneys and have received an equal amount of conflicting answers to what one would think is a fairly standard topic. It takes allot out of me dealing with these "Professionals". Not a newbie having built and operated resort businesses in Central and South America over the past 25 years. Also not my first rodeo having women run my businesses as for me personally it beats hell out of having male employees. Please attempt to refrain from the Thai girls bashing from the bitter expats wasting away down at Scooters. My deal is building businesses and helping locals who are deserving and hard working. 

 

Anyway here is my question and hopefully someone here has faced the same Catch22. I bought a small guesthouse/café with no intention of working/ having a work permit as I am currently on a retirement visa. I bought the existing company and with Attorney "A" guidance I set up shares 49% myself, two thais comprise the balance. To insure control it was stipulated that only I can sign off on docs.

"A" claimed this was no problem, no work permit required. Got another opinion from Attorney "B" who claim it was big problems unless I have a Work Permit. Can't be both. Attorneys "C" and "D" were clueless. The cost of maintaining a work permit and 4 employees for a small business is too much drag, plus I have no intention of working. "B" claims that there are only two options, Work permit OR loss of control of the investment. We are not talking big money and the businesses R.O.I is about one year, point is winning and there is no victory without control.

 

"B" lost me with his if/or reply, there has to be one or more ways for farang to maintain powers without having to do the work permit?

[HLover]

Interesting topic.  Your spot on with the (lack of) quality attorneys and it seems (like pizza or breakfast restaurants) everyone has their favorite- some are acceptable and many others are dog sh*t.

Best of luck to you mate.