RIP Wayne Guest

[SandyYosyingyong]

hi guys,

im back here again and this time with a new question ..

well according to you guys' advices and suggestions..we have been married for nearly half a year now

and we are now trying to set up a company..the thing is i think it will be having the majority of the shares..

but how do we go about it? i read on some websites that we need a million baht to set up a company? i meant ....does it mean that i need to have a million baht worth of assets eg house, car etc etc..in my name or does it mean that i need to spend a million at the commerce department to get a company set up?

my husband will be the only farang hired by our company..

Thank you guys

Sandy

[lopburi3]

Will move this to the business section where they should have more details on company set up but leave link here so you get double the coverage.

[jamescollister]

All depends on what you want to do and what type of company. Go see an accountant and get professional advice. Jim

[SandyYosyingyong]

thank guys

[yoshiwara]

The cash should be in a bank account set up for the business. You can also ask further advice from a lawyer or even your bank which in major branches should have a business section.

[CharlieH]

Falang/Thai mix.

You will need to set up a Limited company with three shareholders, the majority of which must be Thai.

There are basic steps to follow, including 1 million Baht in capitalization (since your wife is Thai) and social security paid on 2 Thai employees the first year and 4 the second year.

Shares can be issued in such a way that you receive preferential shares giving you voting power over the Thai majority shareholders.

There many variables its best to seek correct legal and financial advice from professional people.

Edited October 19, 2012 by CharlieH

[digitalchromakey]

The required Capitalisation Equity is notional and need only be registered at company formation time - this costs a few thousand Baht per x miilion THB of Registered Capital Equity.

Initially your annual accounts will show this asset as (for example) say a loan to one of the directors of x million.

In the fullness of time you will be expected to convert this equity into more firm assets (vehicles, plant/equipment, trademarks, intellectual capital, etc).

It could of course be investment cash in the bank, but it's not necessary when you start a Thai Business.

[ThailandInvestmentGuide]

Hi Sandy. Have you two had a look through the free publications in the web site of the Thai Board of Investment?

Might be useful info for you there, for example this one: http://www.boi.go.th/upload/content/BOI-BusinessGuide2011_44837.pdf