I thought the law was, 49/51, so if the 51 nominees are Thai partners on paper,the law has not been broken, it has always been a lawyer's job, to advise and get around the law, legally!...I ,may be wrong?....

I think that you are right,So why are they after the Farang and why don't they go after all the lawyer's (They are the crooks) and lock them away for life

Hi, apparently what they do is ask where the nominee shareholders raised the money etc, don't see what business that is to anyone but there you have it. But, the law does state that a foreigner cannot form a company for the sole purpose of owning land. The company should be making profit etc etc which is why a good accountant/lawyer will put a lease in place for the foreigner to rent his own house from his own company as that is legal, apparently! The other thing that keeps the officials away is if you give yourself say 30-35% of the shares. This keeps you below the radar. For the sake of security you issue yourself preferential shares with a 5 vote allocation per share. I have one question though; When a Thai opens a company I guess a lot of those companies will have nominee shareholders too right? Are they under the spotlight too? Just wondering..

Strange how a lot of these Thai "nominees" resign as soon as the company is formed and are never "replaced." :)

I thought the law was, 49/51, so if the 51 nominees are Thai partners on paper,the law has not been broken, it has always been a lawyer's job, to advise and get around the law, legally!...I ,may be wrong?....

I think that you are right,So why are they after the Farang and why don't they go after all the lawyer's (They are the crooks) and lock them away for life

Hi, apparently what they do is ask where the nominee shareholders raised the money etc, don't see what business that is to anyone but there you have it. But, the law does state that a foreigner cannot form a company for the sole purpose of owning land. The company should be making profit etc etc which is why a good accountant/lawyer will put a lease in place for the foreigner to rent his own house from his own company as that is legal, apparently! The other thing that keeps the officials away is if you give yourself say 30-35% of the shares. This keeps you below the radar. For the sake of security you issue yourself preferential shares with a 5 vote allocation per share. I have one question though; When a Thai opens a company I guess a lot of those companies will have nominee shareholders too right? Are they under the spotlight too? Just wondering..

Strange how a lot of these Thai "nominees" resign as soon as the company is formed and are never "replaced."

Where did you read or hear that.

When a nominee (person listed as shareholder) changes the business license has to be amended, and without the required number of shareholder this will not be done, so the business will cease to exist.

@ stevenl

Like you said yourself, many of the company structures are "illegal." :)