Closing A Company

[kon66]

Hi,,

I have runned a small office in Chonburi for 2 years.

The company is CLEAN and set-up in a fully legal way with the usual shareholder structure and the reguired 2 million THB capital. All registred and licenced.

Problem is that i not have any use for this company anymore and if i set-it down by lawer will cost me some money.

-Keep it and pay a yearly 5.000baht tax/accounting etc..

- Or sell it for reasonable (SALE)price.

Anyone there interested,,,

[monty]

Difficult one.

If you ever plan to do something in Thailand in the not so distant future, better hang on to it and pay the accountant to do the books...

If not, pay up to close down. It's not cheap and it takes a while, but not closing and stop doing anything might get you fined for non compliance with tax reporting etc ... Can be a big hassle if you are are registered as a director.

Selling, you might get lucky and find somebody, but it is always strongly advised against when somebody wants to buy an existing company.

In your case it might be clean, and it is easy to find out if all taxes etc. are paid up, but regular debts are impossible to find.

You might have borrowed funds from somebody, or have bought stuff on a 90 day credit line. Uncheckable, but the new owner would be liable for those debts!

[kon66]

Thanx for answer,,

I have only left company co.Ltd papers and business were closed December 2008.

Can just change the ownership/names for 3000+3000= 6000b (i think this is the right price) in accountant office.

If anyone interested, PM me .

[raro]

Just went through the process (i.e. in the middle of doing it...) with an inactive company I have not used for about three years.

I tried hard to sell it, was even willing to give it away more or less for free just to avoid closing it. No one interested, reason is that it is very difficult to make a due diligence check in Thailand and you don't want to take over some dead bodies in the basement you were not aware of.

Closing is a major pain in the lower back, plenty of papers to sign, stamp, you know the routine. The process also takes a while...

[satiariyan]

Thanx for answer,,

I have only left company co.Ltd papers and business were closed December 2008.

Can just change the ownership/names for 3000+3000= 6000b (i think this is the right price) in accountant office.

If anyone interested, PM me .

Hmm ..., so how much did you pay for the audit of balance sheet etc. that had deadline at the end of May 2009?

[kon66]

It was 8000 baht and later I found an accounter who was willing to make same for 5000Baht.

In Thailand the lawers and accounters have a big variety of prices and services.

Sorry for this late reply,,,,,

Edited June 24, 2009 by kon66