Company bank account needed question?

[DonaldFreeman]

I have a Thai company opened now which is being closed. I am director. But I've never had a bank account in Thailand setup in the company name. Only have bank accounts in personal name. the check can only be issued in the company name.

 

 I have a power of attorney given to a lawyer. They would like to deposit a check to the company name.... I'm not in Thailand due to some health issues.

 

 Is there any way to open a bank account in the company name while being overseas? Or is the only way to fly to Thailand and Open the account there? Then deposit the check.  Or can I open a bank account in the Thai company name in another country and get wire directions into it.

 Thanks for your help

 

 

[OneMoreFarang]

Maybe ask an accountant.

Before I opened my company, I spoke with two lawyers and then an accountant.

The accountant seemed to be more knowledgeable - and charged less.

 

[DonaldFreeman]

Thank you... My accountant says I have to fly to Thailand and open it with many documents... Lawyer says the same. But I thought somebody might know of a way that I didn't have to travel..

[Tropicalevo]

Are you the sole director?

I set my business partner/shareholder as a director so that she can sign if I am not available.

I also agree with OneMoreFarang - my accountant does everything for me (including forging signatures now and again).

The last time that I used a lawyer was almost 8 years ago and that was not business related. (My wife died without a will.)

 

Can they produce a cashier's cheque instead of one to a company?

That happened when I sold some land that was in the company name.

Edited December 11, 2023 by Tropicalevo

[Celsius]

They are so anal about depositing a check here, so I doubt you can get around this.

 

My wife sold her condo 6 months ago. The bank draft was made at the land office in her name and the bank would not process it. It required 6 phone calls to the bank officer who issued a check to her at the land office to get it approved just because the amount was over 1 million baht.

 

This was a bank draft (so money already taken out) in her name, to a Thai citizen issued in front of a bunch of witnesses by another major bank at the land office. 

 

This country is insane.

[DonaldFreeman]

Thanks for your responses. I'm the only director but there are two Thai shareholders. What I'm told is the land department needs to see a photocopy of a check from the buyer. They could tear it up and then a bank reissue it my name. But I'm told that's not very good practice and maybe risky. Looks like I might have to fly there open a bank account.