A Good Lawyer To Open A Company?

[gal29]

I know this question was asked here many times....

But all I found that recommendations 4-5 years ago.

I'm looking for a lawyer's office About starting a business / company for Foreigners, in chiang mai.

thank you.

[eyecatcher]

"A good lawyer?" I was going to say another Oxymoron; but the Oxymoron is "an honest lawyer"

Do you want good or honest..now dont be greedy

[WinnieTheKhwai]

My wife and I have a company that's already set up but not doing much, and we don't really need it anymore. You could take it over, which would save the cost of a lawyer too. (We didn't use a lawyer to open it, of course. Anyone can open a company by filling in a couple forms.) Includes a website in the .co.th domain. Even has BOI, but not sure if that would be of a lot of benefit. (Well I suppose it makes it easier if you also want to work for that company and get a work permit)

(Any response by PM pls, to not clog up the forum.)

Edited May 4, 2012 by WinnieTheKhwai

[goforit]

OP is seeking help on finding a reliable lawyer to give them assistance on starting a business. Why in the world would they want to buy a failing business from someone who not only doesn't provide the name of a lawyer, they even admit they never used a lawyer in the first place?

Sure, come to a foreign country where opening and running a business is dicey to begin with and bypass getting legal assistance in the process. Sounds like a real sensible thing to do, A friend of mine tried it a several years ago. The business went nowhere but he is still getting harassed by the tax authorities though he never made any money at it.

Beware of what you read on the TV forum as much of the advice you get will either be outdated, inaccurate or just plain bad, which is the case of the one trying to peddle off a business on you.

[WinnieTheKhwai]

^ Yeah, can't really argue with that. I wouldn't buy a business from an unknown person on a forum either. Note that I'm not trying to peddle any business, failing or otherwise; just an empty limited company.

I do disagree with the part where you imply that you need a lawyer to open a company, or that using a lawyer brings any benefit; an accountant you may need, but a lawyer? A lawyer won't keep you from messing up the company's taxes, an accountant however will. We used one freelance to do the end of year stuff.

Edited May 4, 2012 by WinnieTheKhwai

[ForumUsername]

It's amazing how questions are never really answered here and people just want to pick arguments.

Would also like some answers to this

[rakchaingmai]

I would like the answer also i thought it would of been answered by now maybe one of the forum sponsors can enlighten us .

Is it possible to put the business in my 3 years old (thai)daughters name does anyone know this .

Edited May 4, 2012 by rakchaingmai

[cmone123]

We have had some bad experiences with lawyers in Chiang Mai, but recently we switched to CNX Legal and Accounting.

Until now we are very happy with their services. 3 Young ladies but they seem to know what they are talking about.

Their office is at Meechoke Plaza, on the second floor above the Vietnamese restaurant.

Bee is the one that speaks very good English. I believe it is not allowed to post phone nrs here so PM me if you want her number.

Cheers.

[ForumUsername]

We have had some bad experiences with lawyers in Chiang Mai, but recently we switched to CNX Legal and Accounting.

Until now we are very happy with their services. 3 Young ladies but they seem to know what they are talking about.

Their office is at Meechoke Plaza, on the second floor above the Vietnamese restaurant.

Bee is the one that speaks very good English. I believe it is not allowed to post phone nrs here so PM me if you want her number.

Cheers.

Cmone, could you give an idea of what you pay for and the prices?

I'm also looking to incorporate a company so I can operate my business here legally (though it's online).

[Geekfreaklover]

It does make sense to take over another business if it is foreign owned and all up to date with tax payments. It doesn't have to making profits, just up to date with what is owed. It costs money to close a business here, so owners try to pass them on. Simply change the name of shareholders.

Having a good accountant is more important than the lawyer. I would look for an accountant first and have her/him recommened a lawyer if you feel you need one.

I've worked with many Thai Lawyers in business and haven;t got a good word to say about any of them. Sure pay 40k baht for a lawyer to print of a couple of forms from the internet (department of business development) and then they submit the form for you. The registration fee for a business is something like 30 baht.

Once you pay the lawyer you probably won't hear from him again.

The accountant you have deal with every month.

[roger1999]

I was also advised that it is better to buy an existing company, but I need to check that. It doesn't mean you need to stay in the same line of business, as far as I understand. I was also told to use an accountant, rather than a lawyer. I am attempting that now but not getting any feedback from the accountant after our initial meeting.

I'm not sure if leaving phone numbers here is allowed so I will send a PM to the OP with the name of a lawyer if he wants a lawyer. This lawyer once quoted a price to me, but I forget what it was. I think in the neighboorhood of 20,000 baht. His english is limited.

[kaspercat]

As long as the business is clean and no liabilities then to take over is much easier and cheaper. They should already have accoutant.

If you want to startup, as I just did, I had our accountant file the proper paper work and cost only 12,000 bt.

[roger1999]

I beleive this guy prefers work related to setting up companies. His name is Khun Eksayam. 081 314 2528. Best of luck. Roger

[worklab]

Has anyone of you actually gone through the procedure of setting up a business in Chiang Mai without relying on a Thai spouse or Thai silent partner? Do you guys know of any reliable and up-to-date online info on the subject?

[Katmanpu]

Sumalee Jenappa is an excellent lawyer. Down the street from Tanin market on Chang Phuak. She has set up many successful farang/Thai businesses in Chiang Mai. She is honest and fair with fees. Will also be upfront with you if you are doing something stupid, she will let you know firmly.

Knows the law and Chiang Mai practices. 29 Tanin Rd Tel: 053-410-174; mobile 081-882-4311

[Gladiator]

I used this office to start my own limted company related to Travel and Tours. My contac was Khu Pairush and my own experinece was that it worked fine for me. He is bilingual. He also arranged for a Non Immig B visa and owrk permit. Feel free to PM me if you need further. In fairness this was nearly 10 years ago so things may have changed.

Domestic and International Business Practice

The Knight Group Consulting Services Co., Ltd.

20/1, Soi 5, Nimmanhaemin Road, T. Sutep, A. Muang

Chiang Mai 50200

Thailand

+66 53 217 083 / 220 354 / 280 262

+66 53 220 567 / 280 387

Law Firm Overview

The Knight Group Consulting Services Co., Ltd. is a company registered under the Laws of the Kingdom of Thailand. We offer legal and business services to both corporate and individual clients. Based upon our experience and qualifications we are in a position to assist our clients in both inbound and outbound business transactions. The company is linked to one of the largest law firms in Chiang Mai. This cooperation allows us to assist our clients in all matters relevant to doing business in Thailand.

Pairush Teerachaimahit is a Thai lawyer and holds a Bachelor of Laws degree from Payap University, Chiang Mai/Thailand and a Master of Laws degree from the University of Hull/United Kingdom. He counsels domestic and foreign clients in all areas of the Law. He was a Professor of Payap University where he lectured International Public Law. He speaks Thai and English.

Dr. Stefan Lanfranconi is a Swiss lawyer and holds a law degree from the University of Zurich/ Switzerland and a Master of Laws degree from Duke University/USA. He has an extensive experience in international business transactions and has worked in Japan, Hong Kong, Italy and the United States of America. He is the founder of the Swiss-Japanese Chamber of Commerce in Zurich. He speaks English, French, German, Italian and Spanish

[jajohnson]

I've worked with many Thai Lawyers in business and haven;t got a good word to say about any of them.

Once you pay the lawyer you probably won't hear from him again.

Totally true! A friend of mine used a lawyer to start his buisness and it was exactly as you said.

[WinnieTheKhwai]

What exactly was your expectation for a lawyer to do? Were you perhaps intending to hire a business consultant or accountant? And somehow you ended up with a lawyer?

That's kind of like needing to tile a floor and ending up with a baker.

[scorecard]

^ Yeah, can't really argue with that. I wouldn't buy a business from an unknown person on a forum either. Note that I'm not trying to peddle any business, failing or otherwise; just an empty limited company.

I do disagree with the part where you imply that you need a lawyer to open a company, or that using a lawyer brings any benefit; an accountant you may need, but a lawyer? A lawyer won't keep you from messing up the company's taxes, an accountant however will. We used one freelance to do the end of year stuff.

Some points:

Buying an existing company really means transferring the shareholding to other people, which of course is subject to Thai laws about farang / Thai shareholing maximums, etc., and then by extension, case by case, the laws about work permits, etc

This could involve two sets of fees / charges:

- The fees to transfer the sharehodling at the Thai Companies office (which are minimal)

- The cost to 'buy' the company name. This is case by case, some 'sellers' want a fee to sell the company name, some want no fee, depends on the marketable value / brand value of the existing name and or how urgently the current owner wants to offload the company name and the annual costs of maintaining the legal entity (compulsory Thai company report), and the annual (compulsory) accunting and audit records and fees.

There is of course the point that taking over the ownership (the shareholding) could mean taking over all liabilities and assets, but:

- Has the existing owner stripped all the assets from the company / accounting / balance sheet records?

- Does the company have outstanding liabilities (debt) for the assets which perhaps have been stripped from the company, but the outstanding debt on the land / building / plant & equip,ent / raw materials etc., remains in the company balance sheet?

Perhaps it's possible to take over the shareholding (ownership) with signed statements that the previous shareholders remain liable for any outstanding debts or any outstanding guarantees, etc. This needs checking through a lawyer (i'm not a lawyer).

Also, are there accurate records of unpaid current operating costs / accurate estimations of accrued operating costs for just past trading periods, which have not yet been billed by materials suppliers etc.

In other words there is a need for professional 'due diligence'. (Google can be your friend here.)

By the way, WTK didn't say 'his' company was failing, he did say it wasn't doing much.

I do agree that starting a new company is pretty easy, no need for a high priced famous lawyer / no need for an international law firm. And there are professional business 'agents' who will do it all, and do it well, for a fraction of the often outrageous fees that lawyers will charge.

Edited May 13, 2012 by scorecard