Legal Structure For Export Business?

[Superskunk]

The topic says all. I want to open a export business and now I need some advice what kind of legal structure would be the best.

I had a meeting already with a consulting company and they suggested me to open a LTD. Co. with the following share structure:

98% of the shares for me

1% Thai shareholder No 1

1% Thai shareholder No 2

Of course after I employed 4 Thai people I will apply for a work permit.

If it is important: I am German.

Thanks!

[raro]

I'd like to know how you got away with more than 49%foreign ownership...

[Superskunk]

This is what I want to know too... *LOL*

But in the papers from the consulting agency you can read: "On a registered limited company, if you are involved in import/export, manufacturing or hotel management then you could simply use common shares as you can own a majority of the shares and control the corporation as a foreigner."

So, they offered me the share structure above...

Someone here has done this already?

Edited September 9, 2008 by Superskunk

[madjbs]

Yes, you can own more than 49% because export it is not a restricted activity.

[Superskunk]

Does anyone here has done this already?

Where can I read about the foreign majority of shares in the Thai law? Foreign business act (what section)?

It is really very hard to get some detailed and verified information about this.

[wichianburi1]

This is what I want to know too... *LOL*

But in the papers from the consulting agency you can read: "On a registered limited company, if you are involved in import/export, manufacturing or hotel management then you could simply use common shares as you can own a majority of the shares and control the corporation as a foreigner."

So, they offered me the share structure above...

Someone here has done this already?

[wichianburi1]

Sorry for the empty post in my previous attempt to provide a suggestion; still need to study this IT stuff better. In reply to the topic, I would definately consult a professional law firm and obtain expert advice before rushing into it.

All the best.

[puipuitom]

The topic says all. I want to open a export business and now I need some advice what kind of legal structure would be the best.

I had a meeting already with a consulting company and they suggested me to open a LTD. Co. with the following share structure:

98% of the shares for me

1% Thai shareholder No 1

1% Thai shareholder No 2

Of course after I employed 4 Thai people I will apply for a work permit.

If it is important: I am German.

Thanks!

Accoding my knowledge IMPOSSIBLE as Farang to get more as 49 % shareholding in a Thai company, unless .. you get a BOI promotion.

The trick used is to use Thai's to keep a share for you. This works till... one of these Thais come at the idea to withdraw their statement the M.D. ( = 49 % farang) has their full power of attorney. Then you end up with +98 % finacing, but .. 49 % voting and divident payment.

I import Thai foods to EU already since 1995 on my own (and since 1976 as job), and tried several times to find this opportunity to be sure of at least 51 %.

Impossible. So I did NOT start a Thai company.

Remind: we farangs are tolerated ONLY and ONLY in Thailand because we bring in so much money, often loose for nothing even too.

My experience in all these years: a Thai contract is even not worth the ink it is signed with. Even alter +10 years business contacts, they will doublecross you when it is enough in their advantage

[Superskunk]

...I would definately consult a professional law firm and obtain expert advice before rushing into it.

This is exactly what I have done! Sunbelt Asia offered me this share structure...

[surface]

Accoding my knowledge IMPOSSIBLE as Farang to get more as 49 % shareholding in a Thai company, unless .. you get a BOI promotion.

The trick used is to use Thai's to keep a share for you. This works till... one of these Thais come at the idea to withdraw their statement the M.D. ( = 49 % farang) has their full power of attorney. Then you end up with +98 % finacing, but .. 49 % voting and divident payment.

I import Thai foods to EU already since 1995 on my own (and since 1976 as job), and tried several times to find this opportunity to be sure of at least 51 %.

Impossible. So I did NOT start a Thai company.

Remind: we farangs are tolerated ONLY and ONLY in Thailand because we bring in so much money, often loose for nothing even too.

My experience in all these years: a Thai contract is even not worth the ink it is signed with. Even alter +10 years business contacts, they will doublecross you when it is enough in their advantage

That might have been the case many years ago, but these days an export business can be majority foreign owned (100% if you choose).

[auscrank]

...I would definately consult a professional law firm and obtain expert advice before rushing into it.

This is exactly what I have done! Sunbelt Asia offered me this share structure...

Hi Super just wondering how you got on with Sunbelt A.

As I have talked to them too, spoke to Josh and he was offering company 100% owned and work permit.

Does this sound the same?

Yes there is nothing really around about this on the net as I have been looking for months now.

So an update from you would be welcomed or is this post done and dusted?