Company /banking House Purchase

[Rob5060]

I am in the process of buying a house using the Company owning method and wonder if when it is complete can I open a bank account in the Companys name and use it for paying bills ,repairs etc.

Also I am going to probably start a small business, is it better to start a new Company or put the business through the one formed to buy the house.

Any views appreciated.

Rob

[bkk_mike]

There are good points and bad points to putting your new business through the same company.

Good points

nice and easy to prove that the company isn't just a shell to get around the rules on foreigners owning land.

Less paperwork with one company than two.

Easier to meet capital requirements, thai employee requirements of one company rather than two.

Bad point

Your house would be an asset of your trading company, so if your trading company runs into problems, your house is on the line. (although if you're a director, it's probably on the line anyway...)