Ltd Partnership(thai+foreigner)

[lindasue]

Hi all thank god i found this site...

i am malaysian female 25 married to a thai,i have seen somewhere in this forum topic regarding about setting up a company... Well my question is that what are the requirement for a foreighner like me to set up a Limited partnership with my thai husband...

my husband proposed to me that he wanted to set up a small internet cafe for me in Bangkok.. I know alot of foreighner here will discourage me to set up a Partnership limited just for the sake of liability ..Well to me i dont mind for a limited partnership as all the capital will be on my Husband....

1)can a foreighner really set up a Ltd partnership with a thai??

2)Does Ltd PArtnership requires 2 million baht registered capital ??

3) what are the anuall tax rate in thailand for a Ltd PArtnership??

4) and how much of a paid up capital do we need to inject to our bank account for a Ltd PArtnership...

5) can i get a work permit ??

6)do we need 4 staff for limited partnership

Please can anyone give me a hint as we are really into this set up oh and i am on a non immigrant visa O multiple...

Thank you

Linda SUE

[lindasue]

Helooo is there any 1 out there that could atleast give me an advice on my problem here?>>

[EVO]

I have no idea about the Ltd. Partnership route as I have a Ltd. Company. I guess you will need to wait for Sunbelt or Steve Indo-Siam to give you the real story.

Ill be checking out the replies anyway.

[johninbkk2000]

Lindasue,

1)can a foreighner really set up a Ltd partnership with a thai??

YES

2)Does Ltd PArtnership requires 2 million baht registered capital ??

IF YOU ARE MARRIED WITH A THAI AND YOU WANT TO APPLY FOR A WORKPERMIT THE MINIMUM REQUIRED REGISTERED CAPITAL IS 1 MILLION. IF YOU ARE NOT MARRIED AND YOU WANT TO APPLY FOR A WORKPERMIT THE MINIMUM REQUIRED REGISTERED CAPITAL IS 2 MILLION. NOTE, THIS IS REGISTERED CAPITAL AND DON'T HAVE TO BE PAID UP.

3) what are the anuall tax rate in thailand for a Ltd PArtnership??

???

4) and how much of a paid up capital do we need to inject to our bank account for a Ltd PArtnership...

NONE

5) can i get a work permit ??

YES

6)do we need 4 staff for limited partnership

NO

Regards,

John

[Sumitr Man]

Lindasue:

Partnerships and limited partnerships are not my hobby expertise. That said, as I understand it:

1: a limited partnership can be between a Thai and foreigner; however, the foreigner is not allowed to be the managing partner and needs to be a "silent" partner;

2: even though you have a "limited" partnership, the liability of the managing partner remain unlimited [s. 1077(2) of the Civil and Commercial Code]

3: Anyone with limited liability (you) who acts in the name of the partnership with 3rd parties becomes an unlimited liability partner - moreover, an limited partner cannot "manage" the partnership in any way;

4: The limited partnership cannot contain the names of any limited partners (for example "Lindasue Cafe");

All of the above are contained in Sections 1077 - 1095 of the Civil and Commercial Code.

For limited partneship tax rates, read the following (Revenue Dept.):

http://www.rd.go.th/publish/6044.0.html

For immigration issues, I'm afraid you'll need to ask someone else - as I really know nothing about that

SM

[Wekhin]

1)can a foreighner really set up a Ltd partnership with a thai??

Yes.

2)Does Ltd PArtnership requires 2 million baht registered capital ??

No.

3) what are the anuall tax rate in thailand for a Ltd PArtnership??

20% for partnership/company with no more than 5 million baht of registered capital and less than 30 million baht of sales.

4) and how much of a paid up capital do we need to inject to our bank account for a Ltd PArtnership...

Registered capital can be paid in cash and/or kind.

5) can i get a work permit ??

Yes.

If you are legally married to a thai, registered capital must be at least 1 million baht (in cash and/or kind). If not, it must be 2 million.

When you file a partnership/company registration, you must stipulate the gross registered capital and you must declare how much capital is already paid in (cash and/or kind).