Hi all. I opened a company in Thailand last year, but due to lack of capitol and the dodgey Thai system I left before I started trading. The paperwork and my work-permit was however finalized the day that I flew out. A long story short I have been sent a bill for THB 45,000 in social security and annual account fees and as the company has no money the company cannot pay it. I could just ignore it as I don't wish to work in Thailand anymore. However I don't want to leave things unfinished as I do want to visit later in life. My question is does anybody know about filing for bankruptcy in Thailand? and what is involved?

Thanks in advance

Topic should be in the business forum.

It seems you forgot to cancel your lawyer/accountant before you left.

A business owner cannot file for Bankruptcy, only a creditor can, under Thai'Law.

The proper way to "finish" this is:

1. Pay the Bt. 45K

2. Get your lawyer to "close" your Ltd. company.

If you ever want to return to Thailand, you should pay the 45k, and get your lawyer to close the company properly as even a dormant, never traded company is going to continue racking up annual fees and fines every year and I presume your lawyer has a copy of your passport etc.