Limited company set up...

[Noi657]

Hi all... Bit of advice needed from the experts please.

Can I set up a Thai company with two farang and one Thai being the majority shareholder? I would only require one work permit for for the farang. Also how much money do you have to produce to start up a company?

Kind regards

[Naam]

yes

[marcusd]

Hello Noi. As Naam says you can set up the Thai company with 2 foreigners and one Thai as the majority shareholder.

What I did was obtain pre-signed BUT NOT DATED directors resignation and share transfer forms so I could not get screwed over as you have 180 days after they Director "leaves" and you re take the shares by way of "transfer back to you" before You MUST do something or lose the company.

Make sure the forms for resignation and share transfer are UNDATED.

To get the work Visa for 1 FARRANG you will require 2million baht share capital MINIMUM but it is better to get 5 million straight up in case things change or you want to get property in the company name. OVER 5 million and stamp duty goes to 7% from 5%

You will need 5 Thai workers NOT COUNTING you DIRECTOR who must be Thai for the work permit

Now for the CAPITAL you only need to have SHARES ALLOCATED but not yet paid up. So rest easy you do not have to put the money in the bank.

I know as I did it and have a successful company operating

[Noi657]

Many thanks, appreciate your reply.

[marcusd]

Many thanks, appreciate your reply.

If you need more help I can assist

[Scarpolo]

Been recently told an American can set up a corporation and fully own a business here,

but, not sure about that and havent seen a lawyer yet,.

does anyone have any experience in the guest house business?

no alcohol, no bar, just room and board