Close company account when shareholder is overseas corporation

[Monomial]

Hi everyone,

I have been unable to get a clear answer on this. I need to close a company bank account, and the 99% shareholder is an overseas corporation.

The bank requires "an ID card or passport" for all shareholders of more than 20%. How do I meet this requirement when the shareholder is an overseas juristic entity? Even the bank can't explain to me clearly exactly what they need. I don't think they know, and they are too afraid to say they have no idea. The account is with Bangkok Bank if that makes a difference.

Has anyone ever done this before, and could you let me know precisely what documents were required? Did it require a complicated certification process with embassies and the MoFA, or are simple self certified photocopies sufficient?

Any advice is appreciated.

[lopburi3]

I suspect you may need to close the account for other reasons; but it is normal practice here to just spend down and leave account open and let it die (banks seem to get a huge negative mark for closing so will do anything to avoid).

[blackcab]

You would need:

A copy of the business documents for the foreign company detailing who has authority to bind the company to a contract.

A letter on company letterhead signed by those individuals authorising the account to be closed.

Copies of the passports of the individuals who signed the letter.

A letter of authorisation signed by these individuals enabling you to act on their behalf, with 30 baht of tax stamps on it.

All copies need to be signed by the relevant people and have the company stamp.

Or just empty the account and they will close it after a period of inactivity.