Is there a way to get around the 49-51% rule?

[Lukecan]

So I'm going to apply for the business visa, I have the necessary funds to form a company worth 2m baht. But I don't want to give any person other than myself shares. Is there a way to get around this rule? Unfortunately I'm not American, I don't have a Thai gf nor do I want one.

[Don Mega]

Get Thai citizenship.

[Lukecan]

Get Thai citizenship.

Thats even harder than finding a Thai I can trust : (

[Don Mega]

It would sort your issue though.

[Berkshire]

Get Thai citizenship.

Thats even harder than finding a Thai I can trust : (

With that attitude, may I suggest that you're in the wrong country.

[Lite Beer]

Moved to Visa forum

[swampdonkey]

Why are you applying for a business visa when you clearly do not have a clue about it.

Contact a law firm and get some advice.

[NickJ]

Yes. Voting and non- voting shares. The power to sign checks can rest with only you

as well. Just dont use your wife or gf as a. shareholder.

[KittenKong]

Get Thai citizenship.

Thats even harder than finding a Thai I can trust : (

With that attitude, may I suggest that you're in the wrong country.

Why? I live here and I dont trust any Thais. I dont trust any farangs here either for that matter.

I dont need to earn money but I can see many splendid opportunities for starting a business here, and if I could do it on my own I might well be tempted. But go into partnership with anyone here? Not in a million years.

[nowretired]

Get Thai citizenship.

Thats even harder than finding a Thai I can trust : (

With that attitude, may I suggest that you're in the wrong country.

Why? I live here and I dont trust any Thais. I dont trust any farangs here either for that matter.

I dont need to earn money but I can see many splendid opportunities for starting a business here, and if I could do it on my own I might well be tempted. But go into partnership with anyone here? Not in a million years.

Why live in a country where no one can be trusted ?

[coulson]

As the old saying goes, the only way to make a million is to start out with........

Let us know when you go public, I'm looking to get out of the US markets after yesterday so seeking viable Asian alternatives.

[KittenKong]

Why? I live here and I dont trust any Thais. I dont trust any farangs here either for that matter.

I dont need to earn money but I can see many splendid opportunities for starting a business here, and if I could do it on my own I might well be tempted. But go into partnership with anyone here? Not in a million years.

Why live in a country where no one can be trusted ?

What difference does it make (if you dont have to get involved in running a business)?

[thedemon]

One of TV's sadder threads. There but for the grace of God go I........

[uksomchai]

It looks like Lukecan't

As said I couldn't live where I couldn't trust either the locals nor the expats. just who the hell do you socialise with ? The local monks

[Lukecan]

It looks like Lukecan't

As said I couldn't live where I couldn't trust either the locals nor the expats. just who the hell do you socialise with ? The local monks

I can socialise, eat drink have sex with the locals or the farangs for that matter, but when it comes to money there is a saying, dont even trust your father.

[jspill]

I was under the impression there were plenty of 'dodgy' business visa providers, for the correct fee. Not that I recommend using them.

Some are other expats.

Often they are the same expats who say working online is illegal... funny that...

'Get legal' by handing me X amount of cash...

[Maestro]

Removed a troll post.

[Maestro]

What the OP is trying to achieve cannot be done.

[Walter Travolta]

In the original post, Lukecan says "Unfortunately I am not American"

Why unfortunately? That is one of the last things I would want to be . . .

[Maestro]

Because of a bilateral treaty between Thailand and the USA, a US national is allowed to own 100% of the shares of a Thai-registered company for most types of business. The OP was obviously referring to this.

[MAJIC]

What the OP is trying to achieve cannot be done.

If it could be done by smarter people,then it it would have been done years ago!

[DLock]

No way around it Luke.

But with preferred shares, voting rights, pre-signed and non-dated share transfer forms, resignation letters, signed ID copies, you can have some level of control of your company.

Of course, you may want to also have "loan" documents where the Thais have "loaned" the money from you to be valid shareholders (i.e. they bought shares), otherwise having Thai nominees is also not legal...assuming they did not contribute financially to the company.

But a Thai that is bent on causing you problems can cause you a lot of problems if they know how to...

No way around the 49/51...

[robblok]

No way around it Luke.

But with preferred shares, voting rights, pre-signed and non-dated share transfer forms, resignation letters, signed ID copies, you can have some level of control of your company.

Of course, you may want to also have "loan" documents where the Thais have "loaned" the money from you to be valid shareholders (i.e. they bought shares), otherwise having Thai nominees is also not legal...assuming they did not contribute financially to the company.

But a Thai that is bent on causing you problems can cause you a lot of problems if they know how to...

No way around the 49/51...

Stupid xenophobic Thai laws and they want foreign investment but refuse to give rights. They are scared for real competition based on competence.

[Don Mega]

No way around it Luke.

But with preferred shares, voting rights, pre-signed and non-dated share transfer forms, resignation letters, signed ID copies, you can have some level of control of your company.

Of course, you may want to also have "loan" documents where the Thais have "loaned" the money from you to be valid shareholders (i.e. they bought shares), otherwise having Thai nominees is also not legal...assuming they did not contribute financially to the company.

But a Thai that is bent on causing you problems can cause you a lot of problems if they know how to...

No way around the 49/51...

Stupid xenophobic Thai laws and they want foreign investment but refuse to give rights. They are scared for real competition based on competence.

I think they want foreign investment that amounts to millions/billions of dollars... not some chump with a million baht or 2 that wants to set up a hamburger stall.

[Maestro]

Removed an off-topic post.

[anotheruser]

Because of a bilateral treaty between Thailand and the USA, a US national is allowed to own 100% of the shares of a Thai-registered company for most types of business. The OP was obviously referring to this.

Is there anywhere I can get more details on this?

[samran]

Quick question.

Where (geographically) do you derive your income from. Thailand or overseas clients?

[Berkshire]

Why? I live here and I dont trust any Thais. I dont trust any farangs here either for that matter.

I dont need to earn money but I can see many splendid opportunities for starting a business here, and if I could do it on my own I might well be tempted. But go into partnership with anyone here? Not in a million years.

Why live in a country where no one can be trusted ?

What difference does it make (if you dont have to get involved in running a business)?

You didn't answer his question. It's a good question...why live in a country where no one can be trusted? Let me take a guess. It's the only place on the planet where you can get laid. Does that about cover it?

[silverado]

monthly bribes ?

[moto77]

Because of a bilateral treaty between Thailand and the USA, a US national is allowed to own 100% of the shares of a Thai-registered company for most types of business. The OP was obviously referring to this.

Is there anywhere I can get more details on this?

Google: US-Thailand Treaty of Amity