a thai friend asked me to become director of a newly formed company(thai directors ofcourse included). he has good reasons to transfer land which he privately owns to the new company...I am not debating his reasons but more looking to my risks and obligations if i accept his offer...any advise?

Will the company arrange the work permit?

yes new company will arrange work permit

Risks, obligations. You can be held criminally liable as a director, if the company is involved in any criminal activity or defrauds minority shareholders.

In a nutshell: you are fully liable for the company's acts. you can be sued, prosecuted, questioned, your home searched etc.

Risks, obligations. You can be held criminally liable as a director, if the company is involved in any criminal activity or defrauds minority shareholders.

Good reply, you are 100% correct. I know a guy this happened you. To much liability for too little reward.

Risks, obligations. You can be held criminally liable as a director, if the company is involved in any criminal activity or defrauds minority shareholders.

Correct. Farang director = patsy.

Don't do it.

What benefit to you from being a non-controlling director in any small Company ?

If the Company needs your skills and experience, they should consider employing you in a consultancy rôle.

If they wish to include you in the proceeds of Company growth and value, you could become a share holder.

Edited December 13, 201312 yr by bumpkin

If you are not investor or partner in the business I would give it second thoughts. Some of the above replies about liability may be valid reasons.