Marshalsea Posted September 14, 2003 Share Posted September 14, 2003 Rather than start anew, is it possible to buy a company off the shelf, or an existing company that is basically not operating anymore, that has had its capital fully paid-in? I'd prefer to do this, just acquire a firm without any existing assets, in order to be able to pull a work permit for myself and start using it. It would definitely be cheaper and easier than capitalizing a fresh new company. Anyone with experience doing this? Greg, any of your business qualify? Link to comment Share on other sites More sharing options...
jayrockwell Posted September 14, 2003 Share Posted September 14, 2003 I'd say get a new company, it's really not that expensive. And you know there are no skeletons in the cupboard. And as for getting a work permit, you need to show balance sheet plus Annual Tax & VAT forms. And if the off the shelf company had no or low trading levels they are not going to help your visa/work permit application. Atleast if it's a new company you haven't got the balance sheets or tax forms to give so there's no issue. You can easily capitalise the company upto 1 million+ if you've got (or can borrow) a few hundred thousand baht, just move it around a little, in>out, in>out, in>out etc... James 1 Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted September 14, 2003 Share Posted September 14, 2003 Excellent advice there Jay. Altogether too risky for a next to nothing saving. Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted September 20, 2003 Share Posted September 20, 2003 98% of our businesses acquired with Sunbelt Asia are done so by an asset purchase agreement versus a stock purchase. Lawyers will strongly advocate to use this method. You never have to worry about unhidden problems of unpaid bills, etc. Our lawyers simply form a new corporation and transfers the trademark, assets and goodwill into it with the assurance of zero liability at that second because it’s a asset purchase. Plus an asset purchase is better for your depreciation and capital gains tax as a buyer. Link to comment Share on other sites More sharing options...
DanV Posted September 23, 2003 Share Posted September 23, 2003 Jay, have you got some good tips to show the 'Paid Up' share capital? I've had a company 2.5 years, tax/audit all ok, no problems, when I set up was told not to worry about the Share Capital issue. But the Share Capital issue is comming up again, put in lots of cash to the business but doubt it shows as 'investment'. How can I show that share capital without having to actually put in that money, how about moving a few thousand around, and ideas? Own a condo worth about 800k plus car about 300k, could I put those into company name or something? Many thanks for any ideas/tips. Looks like from October the payment of tax will no longer be sufficient for w/permit so want to get it sorted correctly as soon as possible. Link to comment Share on other sites More sharing options...
electro Posted October 1, 2003 Share Posted October 1, 2003 Hi , I have had a Thai company for more than 4 yrs , no longer used as it did not make any money ! However the Paid up Capital is more than 2.5 M Baht , & there are Tax Credits for approx 200,000 B ! This is available if you wish to purchase & transfer registration & change company name . How much are you prepared to pay ? Pls send a private message to me & maybe we can deal ? Regards Link to comment Share on other sites More sharing options...
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