lawyer / accountant to open a company

[Ste78]

hello,

I've been living and working in LOS for a few years now, tired of waste money on rent 25k month.

 

Found a nice villa in a small city, so I ask for advice on where to go to open a company (or take over an existing one) and then buy a house.

 

I know I can only get 49% stakes, that's why I need a reliable lawyer / accountant.

 

thanks!

[Celsius]

3 minutes ago, Ste78 said:

 

 

I know I can only get 49% stakes, that's why I need a reliable lawyer / accountant.

 

 

You also need to be running a business

[Ste78]

I hear some lawyer / accountants may sell the company already running a business, which would be the best because only necessary to change some ownership name

[ezzra]

9 minutes ago, Celsius said:

 

You also need to be running a business

PM me if you need a lawyer in pattaya who can probably arrange for an accountant too, and no, you don't need to be

running a business for the 49% as i too, put my condo under a company holding 49% and I'm retired...

[elfpattaya]

PM me I have a company I need to get rid of.

[khunPer]

On 1/29/2024 at 2:30 AM, Ste78 said:

hello,

I've been living and working in LOS for a few years now, tired of waste money on rent 25k month.

 

Found a nice villa in a small city, so I ask for advice on where to go to open a company (or take over an existing one) and then buy a house.

 

I know I can only get 49% stakes, that's why I need a reliable lawyer / accountant.

 

thanks!

The company needs a proper business besides owning property, that is rented out to a shareholder. It might be risky to use a shell company for that purpose.

You need one or two Thai shareholders – I'm not sure if a total of three shareholders is still needed for company limited registration of property owned by a company limited at a land office – the other shareholder(s) shall be able to show that they have the funds to invest in the shares, as the use nominee shareholders is illegal.

 

The best was for control of votes in a company is by using preferred shares.

To form a company you will need a minimum of 2 shareholders and 2 million baht in registered (and today paid in) shareholder capital.

 

If you buy a secondhand company limited, get a lawyer to make due diligence, so you know what you take over.

 

A business law firm can establish a company limited for you, when you have the shareholders; you need to find them yourself. An accountant can also register a company limited for you. You'll need an accountant anyway for books and semi-annual tax report and the annual audited statement. Expect it to costs from 25,000, baht and up for that service per year, depending of the activity in the company. You'll need a rental or lease agreement between the property user and the property owner (the company limited) and pay rent to the owner. A rental contract for a longer period than 3 years need registration at the land office to be legal and will be taxed.

[Ste78]

40 minutes ago, khunPer said:

The company needs a proper business besides owning property, that is rented out to a shareholder. It might be risky to use a shell company for that purpose.

You need one or two Thai shareholders – I'm not sure if a total of three shareholders is still needed for company limited registration of property owned by a company limited at a land office – the other shareholder(s) shall be able to show that they have the funds to invest in the shares, as the use nominee shareholders is illegal.

 

The best was for control of votes in a company is by using preferred shares.

To form a company you will need a minimum of 2 shareholders and 2 million baht in registered (and today paid in) shareholder capital.

 

If you buy a secondhand company limited, get a lawyer to make due diligence, so you know what you take over.

 

A business law firm can establish a company limited for you, when you have the shareholders; you need to find them yourself. An accountant can also register a company limited for you. You'll need an accountant anyway for books and semi-annual tax report and the annual audited statement. Expect it to costs from 25,000, baht and up for that service per year, depending of the activity in the company. You'll need a rental or lease agreement between the property user and the property owner (the company limited) and pay rent to the owner. A rental contract for a longer period than 3 years need registration at the land office to be legal and will be taxed.

so to take over an already registered company that has paid 2M capital, do I in turn have to repay the same amount?

[elfpattaya]

Just now, khunPer said:

Expect it to costs from 25,000, baht and up for that service per year, depending of the activity in the company.

I had a house in a company name for about 8 years and only paid 12000 Baht Tax and Service per year, sorted out by my Accountant/Lawyer. I have now sold the house, but still have the company, and just paid the 12,000 Tax/Service for this year. I want to dissolve the company, unless somebody wants it, allegedly it will cost me about 20,000 Baht to do this. I have been advised I should do this in May.

[elfpattaya]

Just now, Ste78 said:

so to take over an already registered company that has paid 2M capital, do I in turn have to repay the same amount?

I do not know about this. When I bought the house it was already in a company name, so I just took over the company, I can't remember the cost.

I had 49% and my wife and son who was 4 at the time, shared the other 51%. Maybe you should ask a lawyer.

[khunPer]

7 hours ago, Ste78 said:

so to take over an already registered company that has paid 2M capital, do I in turn have to repay the same amount?

You need to pay for the shares that you takes over – i.e. up to 49 percent – the seller sets the price, which might also depend on the funds and other values in the company. I.e., a question of negotiation about how much the company is worth.

Mind my comment about due diligence, who owns the 51 percent and how do you legally control votes or the company?

[khunPer]

7 hours ago, elfpattaya said:

I had a house in a company name for about 8 years and only paid 12000 Baht Tax and Service per year, sorted out by my Accountant/Lawyer. I have now sold the house, but still have the company, and just paid the 12,000 Tax/Service for this year. I want to dissolve the company, unless somebody wants it, allegedly it will cost me about 20,000 Baht to do this. I have been advised I should do this in May.

Low price – it equals 1,000 baht per month – an annual audited balance can cost more than that amount, typically around 15,000 baht and up.

[elfpattaya]

2 hours ago, khunPer said:

Low price – it equals 1,000 baht per month – an annual audited balance can cost more than that amount, typically around 15,000 baht and up.

I pay, as I have already told you 12,000 baht for a proper audited balance, I have the paperwork to prove it, maybe you should change your lawyer.

[khunPer]

6 hours ago, elfpattaya said:

I pay, as I have already told you 12,000 baht for a proper audited balance, I have the paperwork to prove it, maybe you should change your lawyer.

Accounting and annual report is depending of activity in the company and the price for that kind of service in the local area of the company – I just kindly said that it was cheap.

[john donson]

Usufruct on your villa... you live in it, do what you want, when you die, it goes to the owner... who cares, you are ...

[Ste78]

12 hours ago, john donson said:

Usufruct on your villa... you live in it, do what you want, when you die, it goes to the owner... who cares, you are ...

good idea if you don't have a family, but I prefer my savings go to my kids

[UKJASE]

we pay 13k a year for our accountancy fees

 

previously i had a company, and instead of disolving it, and paying accountant fees, i sold it to a mate for 3000 baht 

 

this is a good way of doing it, to save money, but ensure due diligence, as mentioned above

 

also, best to get shareholders who you know (or are family), rather than nominees. my accountant told me yesterday that they recently clamped down on nominee owned companies in koh samui, and were planning on doing it in other areas too

 

you can be director of the company still

[elfpattaya]

Just now, UKJASE said:

previously i had a company, and instead of disolving it, and paying accountant fees, i sold it to a mate for 3000 baht 

I have been told by my lawyer that it costs 4000 Baht to change the Directors.

My company is still available if anybody wants one. All taxes paid and have all the paperwork to prove it. I'm in Pattaya.