How Old Do You Have To Be To Be A Shareholder?

[63Tommy1]

Hi, just a quick question, sure someone knows the answer.

If I start a Co LTD, here in Thailand I understand I´m only allowed to own 49% of the shares.

Is it possible to have my Kids as share holders, they are 2 & 3 years old, and Thai citizens.

Other shareholders would be my wife and possibly brother in law, or his wife (as she is the one with a working brain ).

Any ideas or facts?

Tommy

[InterestedObserver]

Are the kids going to contribute their share of the paid-up capital? If not, then they would be nominees. Never mind the fact that they are minors in the legal context.

Edit: Spelling

Edited July 31, 2009 by InterestedObserver

[katabeachbum]

If the purpose is to own property, your kids will not be accepted as shareholders by land office at transfer.

Start the co ltd with "approved" shareholders (all shares even yours) and managing director, all thai. Finances and/or education makes them approved, Probably from you lawyer. Then transfer the shares when property is purchased

[opalhort]

I don't know what the rules are these days, but when we registered every shareholder had to provide a copy of their ID card and Tabien Bahn.

A kid under 15yo won't have an ID card yet.

opalhort

[Chang_paarp]

As minors the kids cannot be shareholders when the company is formed, but they can become shareholders later. My 9 year old falang son is a shareholder in my company.

[Naam]

As minors the kids cannot be shareholders when the company is formed, but they can become shareholders later. My 9 year old falang son is a shareholder in my company.

according to international law even a newborn can be a shareholder. don't know about thai law though.