Company Law

[samuimantom]

I am new hear so Hi. Can any one please give me some advice please. My friend has a company owning 2 plots of land with a house on each one he lives in and one is empty however when he set up the company he had a partner from the UK (my friend is from the UK as well) the problem is that his partner has left Thailand and they have no contact so my friend has been paying all the tax for the company for 4 or more years but he cant sell anything. Any way out of this ? Thx

[joskydive]

A Thai Company has to have a 51% majority of Thai Shareholders. Why doesn't he contact them if he wishes to sell the property? They will all be listed on his company documents.

[samuimantom]

A Thai Company has to have a 51% majority of Thai Shareholders. Why doesn't he contact them if he wishes to sell the property? They will all be listed on his company documents.

The Thais with 51% have no power in this i think the two guys from the UK can do as thay please but it takes both of them to do anything but one has gone and thay have no contact at all. The one that left has payed nothing for upkeep or tax at all for years. I dont think the Thai with 51% can help but i will look into it thx.

[loverboy44]

May i ask who is the managing director in this company? If your friend is the managing director he can decide everything for the company normally alone. Only when they both have to decide together then your friend has to find a way to delete his partner out of the company papers as a managing director.

Ask someone who has good relations to the local company registration office.

Good luck

[thaiwanderer]

A Thai Company has to have a 51% majority of Thai Shareholders. Why doesn't he contact them if he wishes to sell the property? They will all be listed on his company documents.

The Thais with 51% have no power in this i think the two guys from the UK can do as thay please but it takes both of them to do anything but one has gone and thay have no contact at all. The one that left has payed nothing for upkeep or tax at all for years. I dont think the Thai with 51% can help but i will look into it thx.

sympathy with friend's predicament but friend has had use of the property so doubt the taxes disproportionately unfair for the use he's had