Disposing Of A Registered Comapny In Thailand

[HOE]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

[bazmlb]

The DBD charges around 20,000 to close a company, then all taxes and other things have to be checked they have all been paid correclty before it has been done, try one of our sponsors for advice and a quote.

[unforgiven]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Just curious did you make aprofit on the house and how was the overall experience?

[HOE]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Just curious did you make aprofit on the house and how was the overall experience?

Not much of a profilt, but did live there for 8 years, and had no real repairs or problems, the actual experience of the transfer was quite easy if you use a lawyer to get the correct paperwork.

[Rimmer]

Sold off my 'old' company to a friend for 5000 baht, then paid the account 50% of the transfer cost which worked out at exactly 5000 baht for my half.

[Notariousus]

Edited April 15, 2009 by Notariousus

[Notariousus]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Think twice before closing down you company. If you really do not need a company again, try to sell it. It has thise days become very expensive and complicated to establish new Limited companies with foreign share holders. I know people who has paid some 200.000 to get a new company set up. And it took half a year.

Edited April 15, 2009 by Notariousus

[Chaimai]

Apologies for hijacking the specific subject but does anyone know what annual (or other) reporting is required for a Thai company.

I have a friend with a Thai company who has submitted any paperwork for 2 years - does this give him a problem ?

[JohnC]

I have a friend with a Thai company who has submitted any paperwork for 2 years - does this give him a problem ?

Yes ! annual returns and tax receipts for each year are required, these can be backdated with stiff financial penalties plus anyone who buys a company becomes liable for all debts including unpaid taxes before they bought the company!

[HOE]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Think twice before closing down you company. If you really do not need a company again, try to sell it. It has thise days become very expensive and complicated to establish new Limited companies with foreign share holders. I know people who has paid some 200.000 to get a new company set up. And it took half a year.

I would happily give it away if you know anobody interested

[TPI]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Think twice before closing down you company. If you really do not need a company again, try to sell it. It has thise days become very expensive and complicated to establish new Limited companies with foreign share holders. I know people who has paid some 200.000 to get a new company set up. And it took half a year.

I would happily give it away if you know anobody interested

With some Thai partners I set up a company some 10 years ago...It only ran as a business for 2 years...if I wanted to start it up again I would have to have audited VAT/tax returns for the last 8 years...so it's best to just let it go to sleep...Who knows when you might need it again??

[spw888]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Think twice before closing down you company. If you really do not need a company again, try to sell it. It has thise days become very expensive and complicated to establish new Limited companies with foreign share holders. I know people who has paid some 200.000 to get a new company set up. And it took half a year.

I would happily give it away if you know anobody interested

I am interested, as long as the company has been properly audited every year and can clearly demonstrate zero liabilities. [email protected]

[Chaimai]

I am seeking some advice again from all you helpfil characters.

About 8 years ago I bought a house using the comapny method, I have now sold the house to Thai who did not want the company,(obviously), so my question is how do I dispose of the company now in a clinical (or not so) way , my accountant is quoting me some ridiculous figures to close it down, etc, etc.

Can I sell it, give it away (any takers) or let it die a natural death?

Thanks in anticipation

Think twice before closing down you company. If you really do not need a company again, try to sell it. It has thise days become very expensive and complicated to establish new Limited companies with foreign share holders. I know people who has paid some 200.000 to get a new company set up. And it took half a year.

I would happily give it away if you know anobody interested

I am interested, as long as the company has been properly audited every year and can clearly demonstrate zero liabilities. [email protected]

Me too, but waggy got there first.

[Time Traveller]

I have a friend with a Thai company who has submitted any paperwork for 2 years - does this give him a problem ?

Yes ! annual returns and tax receipts for each year are required, these can be backdated with stiff financial penalties plus anyone who buys a company becomes liable for all debts including unpaid taxes before they bought the company!

This is not entirely true. The owners of a limited liability company have a limited liability only up to the amount of the registered capital. If you're buying a company and the company is fully paid up, then the most that anyone get from the company is the total assets of the company. They can not attempt to make a claim against the assets of the individual shareholders. Except in the case the shares are not fully paid up, then the liability is up to the amount of the balance owing on the shares.

[pattaya_girl]

Apologies for hijacking the specific subject but does anyone know what annual (or other) reporting is required for a Thai company.

I have a friend with a Thai company who has submitted any paperwork for 2 years - does this give him a problem ?

I left my Thai Company for 3 years and never did anything, (due to splitting up with my English Partner)

When i went to see about it, I was informed I might have to pay penalties for leaving it so long. Luckily I did not get Penalties, but I had to pay 15.000 bt for every year I had missed to the Accountant to do my books, plus the Tax.

I make sure I keep on top of it now.