Normal for lawyer to put her friends as 51% owners of my company?

[SpaceExplorer]

On 10/6/2022 at 4:56 AM, SunnyinBangrak said:

last time I bought land using a Thai company as ownership vehicle my lawyer said I should own 38% and the Thai partners (his office lady and cleaner and others known to him) the rest. He said if farang owns more than 38% of the Thai ltd company owning the land it will trigger an automatic investigation of the company by the land office, and due to the fact his cleaner and friends could not prove they legitimately paid their share that it would all be a problem.

 Recently I got fed up with the company route of ownership and transferred land titles to my wife and closed the company, and bought a freehold condo in my name just in case. 

From my understanding if you register the deal at land office before you became shareholder and a director - there will be no red flags at all. But if you do it while being the shareholder and director - then you've got major problems.

[SpaceExplorer]

Just now, SpaceExplorer said:

From my understanding if you register the deal at land office before you became shareholder and a director - there will be no red flags at all. But if you do it while being the shareholder and director - then you've got major problems.

And if you want to buy more land to this company your lawyer need to take you out of the company as shareholder and director and put back again once the deal is done. Which is very risky and scary but will not trigger any problems from the government.