As many people either set up or purchase a property/land in a company name are there any benefits attached to having the company name.

Does it help with a business start up of any nature, does it benefit in any way at all except for having the original property as a formality in paperwork?

 

Just wondering if there are any ways that this business name can be used outside of the original property records for any advantage ...

 

The standard Thai company objectives include carrying on a business such as retails/wholesale trade etc. So you could undertake such activity in your Thai company.

 

Apart from facilitating land ownership a key advantage to owning the property in your Thai company name is that if you later choose to sell the property, it can be done a by a simple share transfer (for transfer of ownership of the company at the Dept of Business Development) rather than a land sale at the Land Office. This means that you won't need to pay the Transfer Tax etc. which can be quite a saving.

 

On the downside, with the company you'll have unavoidable annual fixed costs for filing of company tax returns and audit (say, about THB50K)

45 minutes ago, Anythingleft? said:

Does it help with a business start up of any nature

You have the company already. I assume if it's just to hold property it won't be registered for VAT, so after you register it for VAT and employ 4 Thais you could then get a work permit and run some actual business with it.

 

4 minutes ago, mark5335 said:

Apart from facilitating land ownership a key advantage to owning the property in your Thai company name is that if you later choose to sell the property, it can be done a by a simple share transfer (for transfer of ownership of the company at the Dept of Business Development) rather than a land sale at the Land Office. This means that you won't need to pay the Transfer Tax etc. which can be quite a saving.

But this can also bite you in the ass if it suddenly turns out that the company has debts or outstanding taxes about which the seller didn't inform you.

 

6 minutes ago, mark5335 said:

On the downside, with the company you'll have unavoidable annual fixed costs for filing of company tax returns and audit (say, about THB50K)

50k is way too much.

41 minutes ago, FriendlyFarang said:

50k is way too much.

Agreed,  13,000 to 15,000 should be closer.

Many thanks for the replies, something's I did not know at all..