Hi, wondering what is required to purchase an existing Sole Proprietorship business and if it is indeed possible. The buyer and seller would both be Thai nationals.

The seller has advised when they registered the business it was done so under a "Service Paper" and they are not sure if this type of structure is still in existence. In any case, given it is a registered business and it is not a Partnership or a Company, it would have to be a Sole Proprietorship??

Incidentally it is a service based business so I believe there is less to do with registration as oppossed to a business that sells goods?

Many thanks

Sole proprietorships cannot be transferred to another party. The seller could sell the assets along with the trade name but the buyer would have to start a new sole proprietorship in their own name. The seller would have to de-register the trade name in order for the buyer to register the name.

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