tamarlane Posted December 12, 2013 Share Posted December 12, 2013 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? Link to comment Share on other sites More sharing options...
PoorSucker Posted December 12, 2013 Share Posted December 12, 2013 Will the company arrange the work permit? Link to comment Share on other sites More sharing options...
tamarlane Posted December 12, 2013 Author Share Posted December 12, 2013 yes new company will arrange work permit Link to comment Share on other sites More sharing options...
Arkady Posted December 12, 2013 Share Posted December 12, 2013 Risks, obligations. You can be held criminally liable as a director, if the company is involved in any criminal activity or defrauds minority shareholders. Link to comment Share on other sites More sharing options...
rheinwiese Posted December 13, 2013 Share Posted December 13, 2013 In a nutshell: you are fully liable for the company's acts. you can be sued, prosecuted, questioned, your home searched etc. Link to comment Share on other sites More sharing options...
rotary Posted December 13, 2013 Share Posted December 13, 2013 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. Link to comment Share on other sites More sharing options...
user82374298374 Posted December 13, 2013 Share Posted December 13, 2013 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. Link to comment Share on other sites More sharing options...
bumpkin Posted December 13, 2013 Share Posted December 13, 2013 (edited) 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, 2013 by bumpkin 1 Link to comment Share on other sites More sharing options...
khunPer Posted December 13, 2013 Share Posted December 13, 2013 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. Link to comment Share on other sites More sharing options...
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