Thai/farang Limited Partnership

[phuketnick]

Hi all,

Just a few questions regarding setup of a Thai/Farang Limited Partnership and hope someone can clarify these points for me.....

_{Do I only need one person for a Thai / Farang Thai Limited Partnership company??}

_{If so can be just anyone or not? I have been told If I was married to a Thai I could setup such a company between us easily??}

_{I am not married to a Thai so do Farang’s who are not married normally have to setup a company with 3 nominee’s ??}

_{I am not certain about what options might be open to me.}

I've been told so many different things by different people and just want to know what the rules are...

Any help or advice much appreciated

[Ralf61]

I did it:

1. You need at least 1 Thai to set up a Thai LTD Parnership.

2. The Thai(s) must hold at least 51% of the capital.

3. You need to register at least 2 Million THB to get a Work Permit on this partnership.

4. You can get designated as the "Managing Director", but in this case, the registrar has to seek proof, that the at least 51% of the Thai(s) capital is really property of the Thai(s) (you can present them the money, but it must be their money), to make sure, the Thai is not just an nominee for setting up a Farang's business in Thailand (strictly illegal to do this that way, don't mess around with that). And, as the Thai(s) hold at least 51%, they can kick you out at anytime (by the way, same applies to a Thai LTD Company).

I hold 30% of my partnership, and must not act as Managing Director or Employer (this is even stamped into my Work Permit), no further questions from the registrar. But it is, as many things in this country, "on the discretion of the officer in charge"...

The Registered LTD Partnership is a great thing for a Farang-Thai couple (wife or long-term girlfriend) to get a Work Permit for the (mostly Internet-working) Farang, but it is somewhat dangerous to do this with "some nice friends".

Good luck

///double toic, to be continued here: link