Thai National Interest In Offshore Corporation

[MattFS218]

Are there any laws or regulations preventing a Thai National from owning interest in an Offshore Corporation--one incorporated in Hong Kong?

Typically I believe this is done through a nominee, but there are additional fees and some questionable legal issues related to using a nominee to own a company and I'm wondering if it's necessary if the sole owner is a Thai national.

Thanks.

[Jonesy99]

The great thing about companies in Hong Kong is that they are not offshore as such, they simply operate as offshore assuming you do no business and employ no staff in Hong Kong. You still have to file accounts but thats it, no tax. I know, I own one.

I would therefore assume there would be no restriction on a Thai owning a regular HK based company.

[Naam]

Are there any laws or regulations preventing a Thai National from owning interest in an Offshore Corporation--one incorporated in Hong Kong?

Typically I believe this is done through a nominee, but there are additional fees and some questionable legal issues related to using a nominee to own a company and I'm wondering if it's necessary if the sole owner is a Thai national.

you are mixing up nominee directors (required in some jurisdictions) with nominee owners which are two different pairs of shoes. as a Thai national you have no problems to fully own any offshore corporation in any jurisdiction. what i don't understand is why you would want a comparably rather expensive HKG corporation.

of course there are fees but there are no questionable legal issues because (see above).

[MattFS218]

Hi Naam,

Do you have another recommendation for a good jurisdiction? I've chosen Hong Kong because of the tax laws, and the fact I'm not trying to launder money, and don't want to go thru the hassles of dealing with traditional offshore jurisdictions. Islands in the Caribbean and central america are often used, but are difficult as hel_l to get normal banking relationships setup because of their status as offshore tax heavens. Not to mention the fact nominees are typically used which is only a signed contract enforcible in the court system of some foreign land, which to me is absolutely ridiculous considering any potential cost savings. But I always appreciate your feedback Naam, you are a great contributor to this board.

--matt

[MattFS218]

I just want to make sure I'm not going to get my girlfriend in trouble if she's the owner of this corporation....

It's interesting...the more I ask about HK corporations, the more people I meet who say they have one. But when I ask the same questions about Panama, nobody steps up and says they have time...maybe it's just the type of people they attract.

--matt

[Naam]

Hi Naam,

Do you have another recommendation for a good jurisdiction? I've chosen Hong Kong because of the tax laws, and the fact I'm not trying to launder money, and don't want to go thru the hassles of dealing with traditional offshore jurisdictions. Islands in the Caribbean and central america are often used, but are difficult as hel_l to get normal banking relationships setup because of their status as offshore tax heavens. Not to mention the fact nominees are typically used which is only a signed contract enforcible in the court system of some foreign land, which to me is absolutely ridiculous considering any potential cost savings. But I always appreciate your feedback Naam, you are a great contributor to this board.

--matt

a Brunei corporation established by renowned singaporean fiduciary services including a corporate bank account with an international bank in Singapore, both (corporation and corporate account) in compliance with Singapore laws/jurisdiction. that all business is tax free goes without saying.

but keep one thing in mind... the thought that corporations established in the Caribic or Central America are shady or used for money laundering is BS². nobody cares what kind of corporation you own. it's the compliance department of the bank whichs look at your account movements with a magnifiying glass and which can cause problems where actually there are none.

you still got it wrong as far as nominees (directors / company secretary) are concerned and which are in most cases required! they are for example needed to file your annual returns which keeps your corporation afloat or verify from time to time (your bank may ask for it) that your company does still exist and is not closed down.

[MattFS218]

I'm not saying all C. America or Caribbean island businesses are shady, but it does rose suspicion, not only for potential customers, but also banks, national governments, and tax enforcing authorities.

It's my understanding that Nominee are used to conceal the identity of the actual people controlling the company. Is this not correct? It is essentially a signed contract between you and the nominee saying you have control over their interest in the company.. which on paper has their name as the legal owners and/or officers.

There's no need for a nominee directors if you don't mind having your name in the public record.

Please correct me if i'm wrong.