Open A New Limited Company Or Buy An Old Company?

[Alifrazsyed]

Hello all

I am new to Bangkok and love this city. I need advice from my Expat AND Local friends:

I want to open a company limited in Bkk, to do business here and to get a work permit. What is more advisable to do:

1. open a new company limited? or

2. buy an old company already established with work permit?

Company makers and others please help me, Thanks.[/size]

[raro]

make a lot of due diligence before buying a shelf company! It is much safer to set up your own and the costs are not that high...about 15 to 30 thousand Baht, depending on your lawyer's office location.

[Alifrazsyed]

make a lot of due diligence before buying a shelf company! It is much safer to set up your own and the costs are not that high...about 15 to 30 thousand Baht, depending on your lawyer's office location.

my lawyer is asking 110,000 THB. But what i think, he is professionally sound. Kindly do let me know, if my money of 2,000,000 THB come into any danger prior or after company formation? i mean because of 51% thai partnership?

[raro]

make a lot of due diligence before buying a shelf company! It is much safer to set up your own and the costs are not that high...about 15 to 30 thousand Baht, depending on your lawyer's office location.

my lawyer is asking 110,000 THB. But what i think, he is professionally sound. Kindly do let me know, if my money of 2,000,000 THB come into any danger prior or after company formation? i mean because of 51% thai partnership?

You bring only 49% of the capital, your Thai partners are required to bring 51%.

[tombkk]

make a lot of due diligence before buying a shelf company! It is much safer to set up your own and the costs are not that high...about 15 to 30 thousand Baht, depending on your lawyer's office location.

my lawyer is asking 110,000 THB. But what i think, he is professionally sound. Kindly do let me know, if my money of 2,000,000 THB come into any danger prior or after company formation? i mean because of 51% thai partnership?

Your lawyer is charging at least twice, mayhbe four times, the going rate. Get another lawyer.

And: Don't buy a shelf company, open your own. I agree with raro on this. Allow about 6 weeks for everything to be completed.

Get a Thai partner who invests the 51%. Why would you put in your money and then give him control?

What kind of company are you planning to open? I understand that List 3 of the FBA has been changed, and in several industries you can now own the majority as a foreigner.

[ericjt]

Rules and customs for coming here and doing business can be quite different from rules and customs in your home country. Taxation of corporations is different, too.

For example, many Thai corporations pay tax whether they make a profit or not. That is one of the reasons the authorities frown on "shelf corporations".

And you're already off to a shaky start with a lawyer charging you 110,000 Baht for setting up a corporation. That is way above the 30,000 to 40,000 Baht which is the going rate.

You say the price is OK because you feel your lawyer is "professionally sound", but I used to practice law, and IMO, "professionally sound" lawyers don't overcharge their clients.

Tombkk asked what kind of business you want to start. That was a good question. If you want to tell us more about your idea, you might find some of our replies and ideas (many based on painful experience) can be helpful.

Anyhow, good luck --

[frenchfarangjomtien]

Can i know what is the easiest and cheapest company to open here ?

Thanks.

[tombkk]

Can i know what is the easiest and cheapest company to open here ?

Thanks.

Of course you can ask. But the reply entirely depends.

[raro]

Can i know what is the easiest and cheapest company to open here ?

Thanks.

Of course you can ask. But the reply entirely depends.

smartass!

[tombkk]

Can i know what is the easiest and cheapest company to open here ?

Thanks.

Of course you can ask. But the reply entirely depends.

smartass!

Thanks (I guess). But seriously, raro, how would you answer that question? The complete reply would be a book... He needs to specify what he wants to do.

[raro]

Can i know what is the easiest and cheapest company to open here ?

Thanks.

Of course you can ask. But the reply entirely depends.

smartass!

Thanks (I guess). But seriously, raro, how would you answer that question? The complete reply would be a book... He needs to specify what he wants to do.

..exactly my thoughts....

now seriously, if French Farang Jomtien could be a bit more specific about what kind f company and so on, we could also help him!

[TigerWan]

So what is a " shelf " company? What is SME ?

I see an ad for a company already established 2 years ago

" Clean and unused .."

When I inquired what the company is for, response was,

" Oh, you can use it for anything..."

Is this one of those " sounds too good to be true " deals.

I do not know any Thais I can trust with 51 % , nor any with 1 million baht to invest

Is there such a thing as a freelance work permit ?

How do artists work it out with permits? Or computer repair, anyone else offering services in the local paper ?

Edited May 28, 2010 by TigerWan

[walf]

hi what kind of company u will found in thailand

there are quiet many bad lawyers who only suck ur money

and who lie to you

after my expirience

what is a different between a lawyer and a lier

... most of the time no difference

u need some info how to do ...

contact me

<snip>

Edited June 20, 2010 by raro
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