Buying Out A Business Partner

[wcr]

Hello all,

I have decided to buy my partner out of my business. I have found out I can transfer him out as both a shareholder and director whilst he is not in the country with him signing the relevant forms and giving a signed copy of his passport.

He is in Australia and really doesn't want to come back to Thailand. So, anyone tell me if I can just transfer his money to him from my Thai bank account into his Australian bank account without it creating any problems for my company or me here?

Any advice from anyone who has transferred sums of around 1M Baht out of Thailand to another person in another country give me guidance?

Thanks

Edited August 6, 2007 by wcr

[Clipped]

easiest way is to send him a atm card and make the withdraws, until he gets the full amount.

the correct way is to just go to a bank with an nternatinal branch, state your reason for transfer lock down a rate, specify for baht or other currency and thats it.

check out bangkok bank's online banking service, there is a provision for sending internatonal transfers.

te branch i usually go to to send money out is the thai farmers bank on srinakarin road opposite seri center, bsicly al they need to know is 'why' you need to sed the money.