Transfer Thai company or create new Thai company?

[creative1000]

Has anyone transferred a 100% Thai registered company to a mixed 51%Thai 49% Farang ownership? What does the process/costs look like?

 

I've heard transferring a company is easier/cheaper/quicker than trying to register a new one from scratch. Is this true? Any downsides to taking this shortcut or is it pretty straight forward?

Thanks in advance
 

[FritsSikkink]

Do you know if the company you want to transfer has any debts / outstanding payments?

Edited March 18, 2020 by FritsSikkink

[creative1000]

26 minutes ago, FritsSikkink said:

Do you know if the company you want to transfer has any debts / outstanding payments?

The 100% Thai company doesn't exist yet. I would get my Thai wife to register it first, then later transfer part ownership to myself if this is easy / quick / cheaper to do.

If not, otherwise I'll create it from scratch. But I've heard this route requires a lot more paperwork, and proof of significant capital held in a Thai bank. 
 

Edited March 18, 2020 by creative1000

[AussieBob18]

Didnt know that you can transfer an exisiting Thai company to 51/49 Expat/Thai company. And if the process is easier, quicker and cheaper then why not.  We will look into that in the future - but I would recommend getting a reliable 'expat' lawyer. Most Embassies have a list of lawyers that have listed with them and speak the language. There is a lawyer very active in expat stuff that has been mentioned in OPs nbut not sure I am allowed to give details - gave the details to a friend who used him and they said he was good and reliable.  PM. 

[Langsuan Man]

An existing Thai company can be transferred to new owners and there is no problem changing the make up of share holders, since the company has already been approved and registered.  This purely an administrative task 

 

This is why the company system was established, to make it cheaper for companies to transfer assets.   It was just smart Thai lawyers that determined that the company structure could be used by foreigners to create companies that could own land