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Bought a Thai LLC - or not?


onlycw

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Hey, what'sup?

Am feeling very foolish right now. A friend with a PhD returned to the U.S. with his family. He's retired and his 50% partner is some owner of many companies over here. Basically, we agreed that I would get their LLC for $ 500 each, which I paid.

No contract. 2 years later, I wonder if they sold me "anice bridge", figuratively speaking. Doubt they even did any paperwork about changing ownership etc.

Does anyone knows the law regarding change of ownership and reporting requirements?

They say they spent some 300 k Baht on their import business. But without any documentation or contract, I feel like some wonnabe Romeo who sent $ 1,000 to some rager bride in Russia. Waiting for her to e-mail again and show up one day.

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