Registered Capital In Partnership - Less Is Better?

[julesdick]

I am starting a real estate business. Already running in effect. www.theluckyhouse.com

My uk company will bill my new thai partnership for company regularly so there will be minimal company assets.

I will not personally be working in Thailand. If the business goes well I might later want a work permit and realise that I need 2m baht share capital for this.

I now have to complete the partnership registration form saying how much capital i want to register. These seem to be my options:

- register the minimum so that I pay minimum capitalisation fees

- register the real amount I've put into the business so far (about 70,000 baht), but then could my Thai partner then lay claim to her 61% share of that money at some point?

- register 2m capital so that I can apply for a work permit - I would have to wait until the sale of my uk apartment which is on sale now before I could pay the initial 25% (500,000 baht)

All advise would be appreciated

Jules

Edited June 7, 2006 by julesdick