We have a business here that is now dormant and which we wish to close down. It's free of any liabilities. Can anyone advise how much it costs to do this? An agent we've used before quoted us 100,000THB which seems somewhat exorbitant to me.

 

If anyone has done this recently & has any advice/contacts, please share. Cheers!

What's the legal entity? A company? A limited partnership?

It's a private limited company. 

I have heard prices as high as 40k and as low as 20k......definately not 100k find yourself a new agent

Right, she's usually very affordable but 100K seems like taking the <deleted>. 

10 minutes ago, Timmaayy said:

Right, she's usually very affordable but 100K seems like taking the <deleted>. 

What area you in I just used agent to set up company ,I could send her quick message,,,not sure if she works out of her local area though.

...other option is sale/transfer...???

I closed down a company a couple of years ago, cost me about 18K i then found out that i could have sold it quite easily. If i were you i would look for ways of putting it up for sale.

100k is 400% more than it should be.

 

I paid 25k and that includes final accounts and final audit. The accountant is a Thai accountant who doesn't necessarily advertise specifically to foreigners.

 

 

PS  - See this thread..

 

Edited August 27, 20197 yr by NightSky

1 hour ago, IssanMichael said:

I closed down a company a couple of years ago, cost me about 18K i then found out that i could have sold it quite easily. If i were you i would look for ways of putting it up for sale.

i dont think selling it is very easy at all, i gave mine away free of charge and happy to do so to save me the cost of closing it.

I've NEVER been involved in a Thai company, but is the following practical:

 

You say that it's now dormant and that you wish to close down and that it's free of any liabilities. 

If it's going to be a costly hassle to close it down, do you need to bother or isn't just leaving it dormant an option?

Won't it eventually be closed down if you don't file accounts?

 

I'm just thinking of the least stressful ways to go about this and there may of course be legal, financial or visa issues why that's not practical.

As I say, I've NEVER been involved in a Thai company so please don't shoot the messenger! 

Have an accountant declare it dormant, then no need to do final audit.

 

If you wish to close completely you will have to do final audit, pick a small accountant, not one of the big expensive firms.