thai company to buy a property

[petermach]

Is it possible in a thai company to have

One Thai share holder with 51 % share and the two others share holders wich are falang for a total amount of shares of 49 %. These 2 falangs being the Director of the company and the co-director

Thank you for your reply

[Sunbelt Asia]

It is possible to have a Thai Limited Company that is 51% owned by a Thai partner and 49% owned by foreign partners where the foreign partners are directors. However, if this company is being set up to purchase land then Sunbelt Asia recommends that it be an actively trading company, that is a company that is doing business in Thailand that purchases the land for the purpose of its business as there have been noises being made by the Land Department that inactive companies set up solely to purchase land will be

scrutinized.

Also it is important to note that the Thai side would need to show funding in his/her personal bank account (amount equivalent to or greater than the amount of share) i.e.if the Thai shareholder is about to own 51% of a 2 Million Baht company (which is worth 1,020,000 Baht). he or she will need to show this amount in their personal bank account to eliminate the doubt of being a nominee shareholder rather than a valid investor in the business

[sunbeltlegal][/sunbeltlegal]