Hi

I have a Thai Company Limited which i opened about 1 years ago , The company was supposed to be used for opening up a wedding planner service, but it never happened as me and my mrs was busy travelling away and not in Bangkok. The company doesn't receive any income and etc. But i have deposited few hundred thousand baht in it when i opened a company Bank account .

Recently a friend who wants to retire in Thailand is interested to buy (Take Over) my registered company instead of setting up a new one.

Currently there are only 3 shareholder, 2 thais and 1 foreigner.

I know if i close down the company officially it will cost me money. So that is why im interested to sell to my retired friend.

May i know whats the process of changing ownership ?

Edited August 3, 201114 yr by ManOnTheRoad

you can transfer the shares to the new owner provided your company could issue shares (private limited company or limited company). most lawyers or company secretary would know how to do that and advise you further.

i think the main criteria is that the status quo must remain, eg that Thai still maintains 51% and above of the company as well as you have not had any work permit issued. Also, you may have to pay certain capital gain tax if the law provides for it! Again, go for good management consultancy to guide you through so that there are no hassles to haunt you later!

Cheers and best of luck!

KC

i did a same thing 5 few years back and i used an accountant who did agreat job and cost was very reasonable. send me a personal note if you are interested

Thank you for your replies , Givanall just sent you a PM

Anyone knows how to close a Thai Company Bank Account ?

Edited August 5, 201114 yr by ManOnTheRoad