Thai Ltd 51-49 Thai-Farang

[ronthai]

What is the deal with starting a Ltd in Thailand and ownership must be 51% Thai?

At least on paper I suppose,

but that means that the Thai partner(s) get 51% of the profit, even if they do not invest any money?

I am talking about a 1 farang business, with 1 work permit and hiring a bunch a Thais for other work.

No. I am not a USA citizen.

Edited August 25, 2013 by ronthai

[Sunbelt Asia]

Ownership of a Thai Limited company must be majority Thai shareholders except in some cases. The exceptions to this would be BoI companies or Amity treaty companies. In Bangkok they are checking the status of the shareholders to make sure that they are legitimate and did have the funds to invest in the business. "Ghost partners" are being checked. We recommend that you find real Thai partners with real funds to invest. Check with Sunbelt Asia for different ways to find joint venture partners or investors.

As for distribution of dividends, this would be determined by the shareholders whether there would or would not be any distribution of dividends (in the event of sufficient profit generated during the past accounting year) this would be determined by a shareholder vote and the outcome could either be that dividends are distributed to shareholders or further invested in the company or held for company reserves.

[sunbeltlegal][/sunbeltlegal]