True or untrue

[Guest IT Manager]

the crap you call informed and continue, daily, to set up 7 shareholder, 1 (Foreign) director Thai Limited Liability Companies.

Interesting to read, and cannot comment on an amity company, as I have no knowledge.

Waht's wrong with "7 shareholder, 1 (Foreign) director Thai Limited Liability Companies."?

Any easier way for non-US-citizens?

Absolutely no problem to have a Thai Limited Liability Company. Whether US Citizen or not. Just make sure you set it up correctly, as far as your shareholders/director registration. If you are uncertain,  use someone who has done it, to set it up for you and pay a fee.

For the information of members and guests, no Lawyers are required to set up any company. Not one. However any contracts between players, naturally should be looked at with a legal eye. If the company is a clean skin and not an off the shelf purchase it is wickedly simple. If you speak reasonable Thai you can do it yourself.

I for one, have not been parrotted to by any lawyer, Thai or otherwise. I find them useful in some areas, not many. Like Used car sales people, I tend to avoid them.

When setting up the company with a "girlfriend" etc., it may be wortth getting a lawyer to sort out any details regarding what happens when she is old and ugly and you want a newer model.

[sting01]

NEWER MODEL??????about girlfriend or car??????????/

[Sunbelt Asia]

Far be it from me to disagree with you, but 3 weeks ago we set up an amity company with 2million baht REGISTERED capital, not paid up capital. 1 Yank 99% a second one 1 %. The company is operational as I read the crap you call informed and continue, daily, to set up 7 shareholder, 1 (Foreign) director Thai Limited Liability Companies.

You can set it up now for 500,000 Baht as well for Amity. Once again, no requirement of 3 million. If you need a work permit however, then NOW you need 2 million registered capital.  

Thanks Steve, Funny thing is... the US Commercial Service  is who told us it had to be 4 Americans. They stated it was 51% of the shares, majority # of shareholders and majority of Directors. We have filed many Amity applications and always the same advice from several different people at that office! I've in fact filed two Amity treatys even for myself and told the above. TIT

[Guest IT Manager]

You can set it up now for 500,000 Baht as well for Amity. Once again, no requirement of 3 million. If you need a work permit however, then NOW you need 2 million registered capital.  

They needed one work permit.

[Guest IT Manager]

Dropout -  You can set up an Amity company with one American holding 19,994 shares, and six Thais holding one share each.  All that matters is American majority ownership.

Cheers!

Steve

Indo-Siam

Indo-Siam, just looking back on your post, the Commerce Department in CM said needed only american partners, minimum 2, no other nationalities. Reading your post would indicate to me that an American can have a treaty of amity company with any other nationality so long as he (The American) holds the controlling interest. Is that what you are saying? I am interested because we didn't get our feedback from a lawyer but from the Commerce Department in CM.

My problem is, thinking back, I don't believe I said "can another nationality, (including a Thai), have shares, even if only 2 out of 20,000?

The other thing I found out, and this question has been part of the search, is that rules for companies are different in some cases between Bangkok and Chiangmai in some minor areas, specifically, ordinary Pty Ltd Companies.

Amity companies get signed off by the American Consul, which should in practice lead to a certain sameness of construction, but a local based PTY LTD Company is signed off in the Changwat.

Anyway feed back would be interesting to say the least.

[Indo-Siam]

###### -

I am absolutely certain that there is no requirement for all shareholders of a company to be Americans in order to obtain treaty privileges.  The only requirement with respect to shareholders is that a majority of shares must be held by American citizen(s), or - for a Rep or Regional office - that the overseas parent company have a majority of its shares held by American citizens.

One clarification to your statement:

For the information of members and guests, no Lawyers are required to set up any company. Not one.

You comment is technically correct.  For someone like you, who is frequently involved with company registrations, handling the processing yourself is probably no big deal.

For people who will only go through the incorporation process one time, the learning curve for accomplishing the process is fairly steep.  In my opinion (which is obviously biased), most people will want to have someone else run their papers through the Thai bureaucracy.

In that case, a Thai lawyer is needed - to sign the extreme lower left hand part of the Bor Or Jor 1 form, to allow someone other than the main company applicant to submit the papers during the various stages of the process.  Also required is a copy of the Thai lawyer's ID/license as an attorney.

This is the only part of the process for which my company uses a lawyer.

Steve

Indo-Siam Group

[Guest IT Manager]

###### -

I am absolutely certain that there is no requirement for all shareholders of a company to be Americans in order to obtain treaty privileges.  The only requirement with respect to shareholders is that a majority of shares must be held by American citizen(s), or - for a Rep or Regional office - that the overseas parent company have a majority of its shares held by American citizens.

One clarification to your statement:

For the information of members and guests, no Lawyers are required to set up any company. Not one.

You comment is technically correct.  For someone like you, who is frequently involved with company registrations, handling the processing yourself is probably no big deal.

For people who will only go through the incorporation process one time, the learning curve for accomplishing the process is fairly steep.  In my opinion (which is obviously biased), most people will want to have someone else run their papers through the Thai bureaucracy.

In that case, a Thai lawyer is needed - to sign the extreme lower left hand part of the Bor Or Jor 1 form, to allow someone other than the main company applicant to submit the papers during the various stages of the process.  Also required is a copy of the Thai lawyer's ID/license as an attorney.

This is the only part of the process for which my company uses a lawyer.

Steve

Indo-Siam Group

We use an accountant/auditor to do the running, but yes I see your point.

[Indo-Siam]

Hello ###### -

If you would be so kind - could you take a look at the Bor Or Jor 1 form that your document prrocessor is using as the cover sheet for MOA and Registration application submissions, and question whose signature is at extreme lower left of this form?  I have been using a lawyer to sign this space, under the impression that this was a requirement.  Your post got me to thinking that maybe this can also be certfied by a licensed auditor - both attorneys and auditors ijn Thailand having professional licenses.  The requirement may just be for a professional license-holder - noit specifically an attorney.

In case anyone is interested, I just collected signatures yesterday on one complete company registration application packet (MOA has already been processed).  The individual promter launching the company had to sign a total of 20 times, on 17 different application documents (in several cases signing more than once as shareholder, director and/or applicant) - and this was not including signnatures on passport copies.

I simply cannot imagine anyone successfully navigating this paper trail  without professional assistance.

Cheers!

Steve

Indo-Siam