elsewheresoon Posted August 18, 2014 Share Posted August 18, 2014 Sorry to make a new topic so soon...... Is there a general location where people can go to find others looking to get rid of a Thai company they have formed without having to pay the 50K plus closure fees? Say I simply change the shareholds to mine and save the opening fees and they save the closing fees? Link to comment Share on other sites More sharing options...
ubonjoe Posted August 18, 2014 Share Posted August 18, 2014 Moved to the business forum. Link to comment Share on other sites More sharing options...
stevenl Posted August 18, 2014 Share Posted August 18, 2014 Sure you can do that, it will cost some but will be cheaper. However you will also inherit any debt incurred in the old company. 1 Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 18, 2014 Share Posted August 18, 2014 Like stevenl said, tricky business. there could be huge debts involved. Suppliers, tax, wages, ..... Link to comment Share on other sites More sharing options...
96tehtarp Posted August 18, 2014 Share Posted August 18, 2014 Like stevenl said, tricky business. there could be huge debts involved. Suppliers, tax, wages, ..... ... and pending lawsuits. Finding out if the company the OP intends to buy is clean will require due diligence. Only lawyers are qualified to do that. One way or another the lawyers will get you. Some law firms sell seasoned clean shelf companies with paid up capital and tax records in good standing. Link to comment Share on other sites More sharing options...
liddelljohn Posted August 18, 2014 Share Posted August 18, 2014 I have sold 2 unwanted companies over the years and one went very well , saved me 45k of baht in shutdown costs ,, and saved the new owner about 20k in startup costs BUT the 2nd sale was a big problem i got paid but the new owner was an idiot norweigan who failed to follow all the correct protocols and left me to have to fend off the companies and tax departmet for 2 years until he was arrested . It was OK in the end but it can go wrong the biggest stupidity of Thai companies is that shutting them down costs more than staring them up as the bureaucracy is so tortuous . 1 Link to comment Share on other sites More sharing options...
Fab5BKK Posted August 19, 2014 Share Posted August 19, 2014 Just 2 words of advice: due diligence ;-) with a special focus on processes, tax and legal issues Link to comment Share on other sites More sharing options...
nabbie Posted August 20, 2014 Share Posted August 20, 2014 Is there a general location where people can go to find others looking to get rid of a Thai company they have formed without having to pay the 50K plus closure fees? Say I simply change the shareholds to mine and save the opening fees and they save the closing fees? Hi ElseWhereSoon, I am currently figuring out how to dissolve my existing company. All accounting/auditing are clean. Are you interested to exchange it? Please send me your contact detail via personal message. Link to comment Share on other sites More sharing options...
96tehtarp Posted August 20, 2014 Share Posted August 20, 2014 I have sold 2 unwanted companies over the years and one went very well , saved me 45k of baht in shutdown costs ,, and saved the new owner about 20k in startup costs <snip> the biggest stupidity of Thai companies is that shutting them down costs more than staring them up as the bureaucracy is so tortuous. I am very curious to see a breakdown of the shutdown costs. How much of that would be lawyers fees and how much are the government fees? Link to comment Share on other sites More sharing options...
Langsuan Man Posted August 21, 2014 Share Posted August 21, 2014 I am very curious to see a breakdown of the shutdown costs. How much of that would be lawyers fees and how much are the government fees? I seriously doubt if any lawyer or accountant will share that information...some things in this country are just proprietary Link to comment Share on other sites More sharing options...
nabbie Posted August 22, 2014 Share Posted August 22, 2014 I have sold 2 unwanted companies over the years and one went very well , saved me 45k of baht in shutdown costs ,, and saved the new owner about 20k in startup costs <snip> the biggest stupidity of Thai companies is that shutting them down costs more than staring them up as the bureaucracy is so tortuous. I am very curious to see a breakdown of the shutdown costs. How much of that would be lawyers fees and how much are the government fees? See the attached list of the government fees after translating via Chrome. I think the main reason the high costs for the company dissolution (shutdown) is the lawyer/accountant's time. In my opinion, the important key to that is to request the Thai accountant providing ONLY the final accounting/auditing papers and the financial statements for company dissolution and liquidation. For the rest, it looks easy & no need to seek for legal assistance (all the dialogues at Dept of Business Development should be preferred in Thai). Therefore I anticipate the costs will be 15K to 20K Baht for accountant, registering company dissolution & liquidation - 400B to DBD, registering the liquidator(?) 400B to DBD, registering the clearance 400B to DBD, postages/advert cost 500B approx, make the shareholders' agreement. That is a basic concept but please do tell me if I miss something. Fee Schedule.htm 1 Link to comment Share on other sites More sharing options...
N47HAN Posted August 22, 2014 Share Posted August 22, 2014 (edited) This can be frought with danger , do not do it !. Think about it , your'e likely to save around 20k as opposed setting up your own company from scratch. And lets face it if that 20k saving was needed , maybe better you re-look at your buisiness plan in the first place. Not withstanding the name of the company stays the same unless of course you want to pay more fees to change that. Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app Edited August 22, 2014 by N47HAN Link to comment Share on other sites More sharing options...
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