Setting Up "co, Ltd." Registered Capital Question

[GrantSmith]

Here's my scenario.

Australian Citizen married to Thai Citizen.

In order to register and set up a "Co, Ltd." what is the amount of registered capital required?

I would be a 49% shareholder and employee of the company with the remainder divided up between my wife and her brother who will also be employees of the new venture.

Does the capital required for registration "paid up" need to be 25% of B2 million in order for me to apply for a work permit or is it 25% of B1million?

I've googled a few things and heard a few stories but I'm kind of looking for an answer with a bit more "substance"

Many thanks!

GS

[Sunbelt Asia]

A newly established Thai Limited Company must pay in at least 25% of the share value that each shareholders is holding, however if the company intends to apply for a work permit for either an employee or a director then the Labor Department requires that total paid up capital must be equivalent to 2 million Baht and 4 Thai employees. If the work permit applicant is married to a Thai national then the paid up capital is 1 million baht and he or she must hold a Non-O visa marriage to a Thai wife/husband.

There is no restriction on the nationality of the director and/or shareholders. However, if the director is Thai and the shareholders a mix of Thai and foreign then the Thai shareholders need to show their bank statements as well as obtain certification from the bank showing that the bank balance is sufficient to acquire shares and invest in the company. This also holds true if the Director is foreign and and the shareholders are Thai.

[sunbeltlegal][/sunbeltlegal]