Company Start Up Question As To Funding

[loveandlaughter]

Brief question here.

First what is the sifference between limited company and limited partnership and what businesses apply to the latter.

Second. I gather the registered capital can be in the form of cash and non-cash assets. Does that mean that we can buy a car with the money now and declare it as a company car (which it will be as it will take us to work every morning and home at night).

Can we also tot up the years rent, have a paper from the landlord to say we have paid in advance and again offset that. Plus the costs of recent rennovations.

Price all the equiptment we use and then factor in that.

Any allowance for training of staff?

And then top that up with money reserves in the bank?

I'm presuming the ONE THING you cannot do is put a residential property in there.

Third. As we are a married couple going about this, the amount is halved to One Million thai baht. Do we have to open a new account under the trading name or can the account be simply under my wife's name? We have just opened an account for our house purchase and so that has had a larger sum of money paid in from abroad to pay for our new home, but it is in the wife's name and the property and mortgage are also in that name - so the money will be disappearing from there very shortly......but the statement would look good

Our business is poacher turning gamekeeper and does not require fresh capitalisation.

[Sunbelt Asia]

Brief question here.

First what is the sifference between limited company and limited partnership and what businesses apply to the latter.

Limited company has limited liability for all shareholders. This must have a minimum of 7 shareholders. A foreigner can be the managing director of a a limited company.

Limited partnership only has limited liability for the minor partner. If the minor partner gets involved with the day to day operations, they also will have unlimited liability. It can be formed with a minimum of two partners. A foreigner cannot be a Managing Director without it being an Alien business.

Second. I gather the registered capital can be in the form of cash and non-cash assets. Does that mean that we can buy a car with the money now and declare it as a company car (which it will be as it will take us to work every morning and home at night).

yes

Can we also tot up the years rent, have a paper from the landlord to say we have paid in advance and again offset that. Plus the costs of recent rennovations.

You would register this as cash. pay for the shares and then use these funds to pay for the rent.

Price all the equiptment we use and then factor in that.

Yes. Must have it detailed with serial numbers, model and year

Any allowance for training of staff?

This comes out of the cash portion of your paid up capital.

And then top that up with money reserves in the bank?

You are able to use your paid up capital for operating expenses

I'm presuming the ONE THING you cannot do is put a residential property in there.

You could if their was no lien, as it must be registered at the Land dept in the companies name afterwards. As you have a mortgage on this, you cannot transfer it in your case.

Third. As we are a married couple going about this, the amount is halved to One Million thai baht. Do we have to open a new account under the trading name or can the account be simply under my wife's name?

It's in the company’s name.

www.sunbeltasiagroup.com

[loveandlaughter]

Thanks Sunbelt We go tomorrow to Mae Rin to have a chat with the officer about it all.

Limited Partnership is what we need as for our business there is no supply chain so really we are liability free.