Expat Company With 7 Thai Partners

[Boltd]

Can someone please tell me what’s going on with this New Thai Law BS about putting your house into your company name. I’ve got a company set up on the Island for a house I bought last year and now that Im back in Europe Im hearing all these rumors that all western companies will be investigated to see if the Thai partners on the company papers are real investors or just Ghosts – if these people are not investors I hear there will be LOTS of trouble in the near Future. I set my company up this way on the recommendation from my Thai lawyer who put 7 Thai names on the company paper and when I quizzed him about this he told me that this is no problem.

Hopefully what I’ve been told is only a rumor, but if somebody can throw some light on the subject I would much appreciate it. My Land paper and house are all in my companies name.

I bought in samui in view to retiring in the next year or two for a stress free life – now with all Im hearing I’ve never been so stressed in years.

Should I close the company and take the land and house on a 30 year Renewable lease???

Regards from Wet Scotland

Edited June 14, 2006 by penzman

[John 1]

All Lawyers will say no problem until <deleted> hits the fan, does the lawyers name start with S, as for company what they have been doing is using the same name of 7 Thais on all the companies opened.

As for your case I don't know what the answer is but you have be aware of 30 year lease you may not be extend it. For now sit tight and check the Thai visa site and there could be some good info if you look.

[sbk]

Please check the thread devoted to this in another section.