Closing Thai company with no assets.

[allen54]

Hello all.Thank you in advance for any information or advice you can give me.

In 2012 the house in thai company name was sold and all due taxes and money owed was paid in 2013.Now that there

are no assets at all in the thai company i just want to close it.(Have heart problem and not sure when i will have to leave Thailand)My question is do i have to get the lawyer who formed the company for me to close it or can i just forget about it seeing that the company will not be used in the future.Will i have to pay the accountant to do the books untill the company is closed.Any ideas please?Thank you. Allen

[puuchai299]

If your planning on leaving the country and never coming back,then just leave and do nothing.nobody from here will chase you In your own country.

If you plan on being here in the future then you should get your lawyer to close the company.

Be aware that you may have paid taxes due to the land office,but if you bought for example a 4 million baht house and put it into a 1 million baht company,which lawyers here often do,then you may be due to pay some unexpected taxes.

For example,I bought an apartment building for 7.25 million baht 5 years ago,the lawyer put it in a 2 million baht company.i sold it for 7 million baht,and now I have a tax bill for 800.000 baht.the lawyer failed to explain that at the start it will save money,but in the end it won't..

[Langsuan Man]

Whatever you decide to do it will cost you anywhere between 25,000 to 50,000 THB to officially close a company in addition to paying for any "profit" the company made as puuchai229 states above

Will i have to pay the accountant to do the books untill the company is closed

Yes if you keep the company then you must still file the appropriate forms every year that the company remains open

[lucjoker]

closing an empty company will cost about 45 000 bht

Better to sell it to your lawyer? He will sell it for 50 000 bht to the next farang?

[wefinesse]

Hello allen54, I have interest in buying a registered Thai company, if it is a genuinely no hassle deal and suitable for my intended purpose ( Business Management).

Let me know all pertinent info, if u r interested in selling it at a reasonable price. Thanx in advance.

email - [email protected]

[wolfmanjack]

I was quoted 20,000 baht to close my company and yes legally you have to pay an auditor every year if you leave it open.

[juggernaut]

Your accountant can probably close it for you without too much hassle. If they are doing your job properly there will be no unexpected taxes as others have mentioned. It cost me 12,000B for my accountant to close one of my companies. The most inconvenient part was having to visit the bank to close the account - which was required, even though there was no balance in it.

[MRTHAIBRI]

Sell it. There are always westerners looking to buy.

[wolfmanjack]

Sell it. There are always westerners looking to buy.

My accountant claims they are getting harder to open so you may be right.

Where would one go to find buyers?

[allen54]

A big thank you to all of you who took the time to reply to my request for advice on which way to go in relation to closing down thai company.True word and mouth i think it will be sold.Good luck to everybody.Allen