Does A Tor Tor 3 Have To Be Made Out To A Person?

[Tokay]

Will the banks issue a Tor Tor 3 in the name of a business instead of a person? (or is it called a Foreign Exchange Transaction Form now?)

Edited May 1, 2009 by Tokay

[PattayaParent]

My guess would be that if it's a Thai company then it can buy land in Thai Baht without any need for a transfer of funds from overseas so a TT3 would not be needed.

[InterestedObserver]

If the bank account was in the company name, then I don't see why not. But why does a Thai company need to bring in foreign currency and require a Tor Tor 3? Are you purchasing property and using the Thai company as owner? If so, then you obviously need legal advise.

[Tokay]

If the bank account was in the company name, then I don't see why not. But why does a Thai company need to bring in foreign currency and require a Tor Tor 3? Are you purchasing property and using the Thai company as owner? If so, then you obviously need legal advise.

Doesn't the Thai company have to show where the starting funds came from?

[InterestedObserver]

If the bank account was in the company name, then I don't see why not. But why does a Thai company need to bring in foreign currency and require a Tor Tor 3? Are you purchasing property and using the Thai company as owner? If so, then you obviously need legal advise.

Doesn't the Thai company have to show where the starting funds came from?

The share price and paid up capitol of a Thai company would be in Thai baht. The shareholders are supposed to ante up their fair share of the capitol. What are you really trying to do, start a Thai company for what? Why does the Thai company need foreign currency? As said, a Thai company can buy property with Thai baht.

[Tokay]

If the bank account was in the company name, then I don't see why not. But why does a Thai company need to bring in foreign currency and require a Tor Tor 3? Are you purchasing property and using the Thai company as owner? If so, then you obviously need legal advise.

Doesn't the Thai company have to show where the starting funds came from?

The share price and paid up capitol of a Thai company would be in Thai baht. The shareholders are supposed to ante up their fair share of the capitol. What are you really trying to do, start a Thai company for what? Why does the Thai company need foreign currency? As said, a Thai company can buy property with Thai baht.

I was under the impression that if a falang had a stake in a Thai company, that falang had to show where his portion of the start up capital came from, which was money from abroad.

In other words and if this is not the case, then nobody looks into where a Thai companies start up capital comes from?

[InterestedObserver]

I was under the impression that if a falang had a stake in a Thai company, that falang had to show where his portion of the start up capital came from, which was money from abroad.

In other words and if this is not the case, then nobody looks into where a Thai companies start up capital comes from?

The documents filed when the company is setup describe the share and capital structure. The TT3, Foreign Exchange Transaction Form, you get from the bank will document your start-up capital, if any.