Thai Corp

[kerryk]

I am an American on a retirement visa. I wish to purchase a car for 300,000 Bht and a house for 1,000,000 Bht for my personal use. I wish to set up a Thai Corp. to do this. I understand there are a couple of companies who do this.

Can anyone give me an approximate figure on how much it costs to set up the corporation?

[rishi]

Setting up a Thai limited company can be done for about 40,000 baht - including governmental fees, tax/vat registration and a WP for the MD.

Are you aware of the primery pitfall to what you probably have in mind? --- The company you form must be actively doing business to be legal. You might be able to buy that company house and car, but you might not be able to keep it.

[kerryk]

Setting up a Thai limited company can be done for about 40,000 baht - including governmental fees, tax/vat registration and a WP for the MD.

Are you aware of the primery pitfall to what you probably have in mind? --- The company you form must be actively doing business to be legal. You might be able to buy that company house and car, but you might not be able to keep it.

I have read the discussions on the real estate thread. Seems one almost needs to be a Lawyer to understand the complete implications. I assume that one can set up a small business and use the home and auto in conjunction with that business.

[Sunbelt Asia]

I have read the discussions on the real estate thread. Seems one almost needs to be a Lawyer to understand the complete implications. I assume that one can set up a small business and use the home and auto in conjunction with that business.

http://www.lawyer.th.com/company-registration.asp for the fees involved.

Thai law requires a Thai registered company to file annual balance sheets and to maintain a company address. Moreover, companies that are not operating may be de-listed. It would, therefore, make good sense to only set up a company if the company will be active, to own property in Thailand. As you are aware, nominee arrangements are also illegal. You need good legal advice.

[kerryk]

I have read the discussions on the real estate thread. Seems one almost needs to be a Lawyer to understand the complete implications. I assume that one can set up a small business and use the home and auto in conjunction with that business.

http://www.lawyer.th.com/company-registration.asp for the fees involved.

Thai law requires a Thai registered company to file annual balance sheets and to maintain a company address. Moreover, companies that are not operating may be de-listed. It would, therefore, make good sense to only set up a company if the company will be active, to own property in Thailand. As you are aware, nominee arrangements are also illegal. You need good legal advice.

I realize the American Treaty act expired but is it still being honored and does that effect setting up a company?

[sinkorswim]

you can set up a thai company for approx 20000baht including fees. also you do not need a thai company to buy a car in your name

there are thousands upon thousands of falangs who own houses and land through companies (including me) do you think they will really make them all get rid of them. even if they do you then find a thai person and "sell" it to them, then lease it from them so either way you should not lose it. but then again dont spend more than you are prepared to lose.

make sure you file yearly accounts cost approx 15000baht and you should be ok.......maybe..... but hey life is a gamble.

hope this helps but i am not a lawyer.

Edited March 14, 2006 by sinkorswim