js1 Posted March 1, 2010 Share Posted March 1, 2010 Greetings Quick question... Can my son who is a minor and holds both Thai and British nationalities, become a majority shareholder in my Thai limited company? I am inclined to do away with the proxy nominee shareholders if this is possible, as the provincial government in Phuket, keeps threatening to look into Farang owned dive companies and validate their Thai shareholders stakes in the company. It's an old loop hole that won't be exploitable forever, and I'd like to change things now to be more transparent. TIA Link to comment Share on other sites More sharing options...
Mario2008 Posted March 1, 2010 Share Posted March 1, 2010 A minor can have assets and own property and shares. The legal guardians will have to look after their intrest till they become of age. For certian dealings the legal guarian would need the authorastion of the court. Normal laws against using nominees still apply and could land you in hot water. Link to comment Share on other sites More sharing options...
Mario2008 Posted March 1, 2010 Share Posted March 1, 2010 Moved to business section Link to comment Share on other sites More sharing options...
js1 Posted March 1, 2010 Author Share Posted March 1, 2010 A minor can have assets and own property and shares. The legal guardians will have to look after their intrest till they become of age. For certian dealings the legal guarian would need the authorastion of the court.Normal laws against using nominees still apply and could land you in hot water. Thanks. So it's possible to go and see my lawyer and start the process to transfer the 51% held in my company by proxy nominees to my son, who holds Thai nationality who is three years old, while I hold on to the other 49%, in fact giving me 100% legal control of the company as I am his legal guardian? Sounds like a great loophole if this is true. TIA Link to comment Share on other sites More sharing options...
Mario2008 Posted March 1, 2010 Share Posted March 1, 2010 Seek competent legal advise. There might be a conlfict of interest between you and your child. There are laws protecting the child in such cases and in certan cases you must obtain court approval. Link to comment Share on other sites More sharing options...
connel707 Posted March 1, 2010 Share Posted March 1, 2010 Seek competent legal advise. There might be a conlfict of interest between you and your child. There are laws protecting the child in such cases and in certan cases you must obtain court approval. There is a Thai guy called Thaksin, who may be able to advise you on this issue..!! Link to comment Share on other sites More sharing options...
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