Thai Ltd Companies ....

[sadako]

Im trying to get the facts of creating one of these in order to buy property through my thick head .

Is there any risk involved in owning property eg . house / villa in this Thai company name ?

I know Thais have majority share but not overall control , as I will

have this

as director .

But is there ANY way of losing my property or even part of it under this plan ? Have heard

stories of some directors being voted out alltogether by the majority Thai shareholders . And when selling property on , can any problems arise ?

Anyone know the real facts ?

[stevehaigh]

Im trying to get the facts of creating one of these in order to buy property through my thick head .

Is there any risk involved in owning property eg . house / villa in this Thai company  name ?

I know Thais have majority share but not overall control , as I will

have this

as director .

But is there ANY way of losing my property or even part of it under this plan ? Have heard

stories of some directors being voted out alltogether by the majority Thai shareholders . And when selling property on , can any problems arise ?

Anyone know the real facts ?

<{POST_SNAPBACK}>

your lawyer should set up the company in such a way that you have 1 vote per share and the thais have 1 vote per 10 or more shaers, so you always have mojority control.

ths biggest risk is if the government sees these farang minority owned companies as a way to circumvent the land ownership law and take action against us.

oh, one more thing, just because the thai shareholder own 51% or more of the shares doesn't mean they have any claim over the assets. the land and house, etc belong to the company and the directors (i.e. you) can do what ever you want with them so long as you have majority control.

Edited April 21, 2005 by stevehaigh

[Phil Conners]

Make sure you have undated resignations from all shareholders. Any company-creating-company worth it's salt would do this automatically.

[astral]

Please read this post to understand why the company route is the only sensible

approach to land ownership.

However the golden rule of not investing more than you are prepared to walk away from,

still applies.