"authorised Person" Questions

[thaitanic]

I am British and I am managing director and 49% shareholder in a Thai Limited Company in Phuket. I am also the only person authorised to sign company documents and company bank account at Kasikorn Bank. I do not know and have never met the other 6 shareholders since I bought the company "off the shelf".

Next week I have to cancel my work permit because I am going away for 6 months. It is quite likely that I will not apply for a new work permit when I return. But I will keep the company going on minimal account for the time being.

Is it essential that I change the "authorised person" to someone else before I cancel my work permit? I do have a close Thai friend who I can trust to be this person for me.

How do I change the "authorised person"?

If I do not get the "authorised person" changed over and I do not get a new work permit later, might the company be somehow in danger of being "frozen" with no authorised person and no means to appoint a new one?

Finally is it also essential to change the authorised signatory for the company bank account, or would I still be able to sign for transactions or even closing the account when I return, even if I don't have a work permit? There is very little money in it.

Thanks

Edited May 11, 2008 by thaitanic

[GuestHouse]

I can't answer how you chnage the authorized person, but I would question why do so just before you leave Thailand for what is a short period.

If after changing the authorized person a problem arizes you are not going to be around to sort things out - not being around might be the 'trigger' for a problem.

Why not leave things as they are and sort them out when you return in six months time?!

[thaitanic]

Thanks Guesthouse.

I can't answer how you chnage the authorized person, but I would question why do so just before you leave Thailand for what is a short period.

If after changing the authorized person a problem arizes you are not going to be around to sort things out - not being around might be the 'trigger' for a problem.

Why not leave things as they are and sort them out when you return in six months time?!

Because one of the things my work permit apparently authorises me to do is to be the "authorised person". If I no longer have a work permit then persumably that means the company no longer has any authorised person. And then what happens?

[thaitanic]

Apologies for the bump. Can anyone please help with this?