Entrepreneurial Type Company Set-Up

[dvdlock]

Hi,

I was previously looking into setting up an Export company in Thailand in order to export Thai products to the UK.

My focus has since changed a little. My business Plan has evolved somewhat and I am now looking at more of an entrepreneurial company set up which would involve Export, Import, Wholesale Supply and Retail. I would like to develop the company in these areas over time without having to make continual changes to the company structure and legal standing.

Is it possible to structure a company in such a way without having to have multiple companies?

Advice very much appreciated.

[SunbeltAsiaExpert]

When setting up you company in Thailand it is very important that you list all the areas in which the company will operate. So long as the Company Objectives designate that your company will be involved in “Export, Import, Wholesale Supply and Retail” there will be no need to form several companies to perform these multiple jobs. Problems arise when individuals either start a new company in Thailand and then want to get into other business areas for which their company was not originally designated or when people buy an existing company and try to do a job wholly unrelated to the original objectives of the company they purchased. When this is the case you will need to simply change the company objectives to reflect what your new (or newly acquired) company will actually be doing. You will also need to have all the necessary licenses required for each objective that requires a license (e.g. manufacturing, running a restaurant, internet café) prior to getting a Work Permit issued.

This can be a cautionary note to all those that are setting up or purchasing existing companies…hire a firm with a history of business set-ups and company transfers so you will not later be forced to make costly changes to your company just to do work you always planned on doing.

Do you have any questions about getting a Visa for travel/business/retiring/investing in Thailand? Please “ask the visa expert” from Sunbelt Asia here: Thaivisa.com - Ask the Visa Expert from Sunbelt Asia

This information has been provided by Sunbelt Asia Co., Ltd. Sunbelt Asia has been the main sponsor of Thaivisa.com since 2002.

You can contact Sunbelt Asia at (66)2-642-0213 or email us here. Please visit our website for more information on doing business, working, investing, travelling, owning real estate, or starting your own business in Thailand at www.sunbeltasiagroup.com. We are located at 1 Ratchadaphisek Rd., Floor 26, Bangkok, Thailand 10400 and can easily be reached by public transportation.

*This does not constitute legal advice or serve as a substitute for direct legal consultation with a licensed attorney. The information is provided for educational purposes only and it may not account for the specific facts and laws that may be applicable to each individual’s situation. Also, there may be changes in the law that may affect your specific case so the answers provided here should not be considered to be applicable your personal situation.

Legal information is not the same as legal advice, which is the application of law by a licensed attorney to an individual's specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend that you consult a lawyer if you want legal advice specific to the facts surrounding your case. This information does not take the place of discussions with a licensed lawyer and it does not create an attorney-client relationship between readers of the information and Sunbelt Asia, Co. Ltd. or any of its employees.

[sunbeltlegal][/sunbeltlegal]