Opening Thai company with wife as Thai shareholder

[nickbk]

Hi,

I would like to open a company with my wife (+1 other Thai person) understanding that I can own only a maximum of 49% and 51% for the 2 thai associates.

However someone told me that if my wife is one of the shareholder, her part in the company would be considered as "thai" only for half of the percentage, for being married to a foreigner.

By example, if I hold 49 % andshe holds 40% of the company, then registration office may consider that her 40% would be 20% thai, 20% foreign, thus making the company over the 49% limit for foreigner.

As anyone had any experience of similar issue when setting up a company with Thai wife?

Thanks

Nicolas

[Sunbelt Asia]

Marriage to a foreigner does not remove her Thai citizenship rights, she still qualifies as a full shareholder in the business. Of course you will need three shareholders in the company but she can be the majority shareholder. But, like with any Thai shareholder, they may ask to see that she has enough funds to purchase the shares in the company.

[sunbeltlegal][/sunbeltlegal]