closing a thai company LTD with 49 percent of the shares

[bertbobjes]

Hi i want to close my 11 months old LTD.

I hold 49 percent of the shares, can i close it without the approval of the other 51 percent?

What are my options?

What is the cost price for closure? How long does the procedure take? Any pitfalls?

It holds VAT as well

With kind regards

[phetphet]

it might pay to check if the other 51% have any voting rights.

[bertbobjes]

they don't.

[nabbie]

I did close it last December. Regardless to the shares, the director has the power to close it down - based on my personal knowledge.

[whatawonderfulday]

Don't bother to do anything as it costs a disproportionate amount of money. Do nothing and it automatically gets struck of the register with no further costs to yourself.

[bertbobjes]

Whatawonderfullday, do you know what kind of advise you are actually giving? Do you want me to end up in jail? Did you ever close a thai company LTD?

[mango66]

Whatawonderfullday, do you know what kind of advise you are actually giving? Do you want me to end up in jail? Did you ever close a thai company LTD?

did you ever ?

do you know the expenses ?

100.000,- ?

200.000,- ??

[bertbobjes]

Can i ask anybody who wishes to answer me. Just to give me valuable information.

[catman20]

you can close it, it will cost you about 20,000 baht but depending on the time of the year you choose to close it you will then have to pay another 15,000 baht for the account to be bought up to date.

a smart move which I have done many times is find a farang who needs to buy a company and give him your company free of charge, he save 25,000 baht by not buying a company and you save 35,000 baht or more buy not closing the company and not paying for that years accounts to be done.

one of you will have to pay a 5,000 baht fee for a change of director.

[catman20]

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Don't bother to do anything as it costs a disproportionate amount of money. Do nothing and it automatically gets struck of the register with no further costs to yourself.

I think you could end up in hot water this way and properly with a big bill

[whatawonderfulday]

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Don't bother to do anything as it costs a disproportionate amount of money. Do nothing and it automatically gets struck of the register with no further costs to yourself.

BS, just read Thai company law legislation. Until then don't comment on something you clearly have no knowledge of. Ops sorry forgot you possibly are unable to read Thai.

[SlideRiceFC]

I recently requested this same information from the law office I use and was quoted a figure that exceeded what I'd paid to set it up (just north of 60,000). The actual government fees for closure were a small fraction of that ( just 4,500 baht total) so the bulk of that was services and VAT from the firm.

[dotpoom]

Sold my house to a Thai person and closed the company, didn't consult anybody, no problem. It cost me about 15,000 Baht at the time (8 yrs. ago). I think the normal price was a bit higher but I had shopped around.

Later, a man asked me "why did you close it, you could have sold it?".

Edited May 7, 2015 by dotpoom

[Chao Lao Beach]

Don't bother to do anything as it costs a disproportionate amount of money. Do nothing and it automatically gets struck of the register with no further costs to yourself.

I seriously question this advice as incorrct.