What Are The First Steps To Setup A Company In Thailand?

[frenchy38]

Hi to all

I am French owning a small restaurant company in France and would like to setup and open a company in Thailand to run a restaurant business in Chiang Mai..

I have read all the usual info but not so easy to understand (sorry for my poor english) lol

-what are the first step to open a company in Thailand?

-Does the company will need 51% thai partner (in this case they control the company??)

-Does any agencies who can help me (regarding all paperwork and to set it up with the rules and regulation of thailand??)

-I might have already a Thai partner in Chiang Mai, how can i make sure that this partner can not sell the company at my back (with the 51% share)

Thank you in advance for your help

Great site!!

Frank

[Pink Mist]

My 2 bahts worth, contact Sunbelt Asia.

[Chang_paarp]

There have been a number of threads on this in this area of the forum, but the general information goes something like this;

1. Get your own lawyer to look after your interests. (We tend to recommend forum sponsor Sunbelt Asia, but there are others out there, or so I have been told. )
   
2. Get a different lawyer to set up company and act for all the share holders (minimum 7).
   
3. Ensure that all major decisions such as selling assets, accepting debt over XBaht, about the company require a 30% majority (80% of the issued or voting shares) from the shareholders.
   
4. Have your lawyer check ALL the paperwork prepared by the partnership lawyer, especially company articles of association.
   
5. Ensure your Thai partners can show how they can afford to invest in the business.
   
6. If you plan to be actively involved in the business (work in it) make sure you can get a work permit and the articles of association cover you for this.
   

This will add another level of cost in the setup, but will help cover your investment.

The rules are a little fluid at the moment as there is a review of the laws and how they are interpreted underway. There have been a number of suggestions about preference shares in the past, but these are frowned on currently. So the best information is to get a lawyer experienced in company law, not just someone who has studied law and has a practice certificate.

[sting01]

For what it's worth :

Vovan and Associes.

They exist in Bkk, but they are first a french company of lawyers.

They exist in PAris, Lyon,Aix and MArseille, so you should be able to contact them in France (Barreau de l'ordre dans les villes citees, ou eventuallemtn the commiseriat central des villes citees devraient pouvoir te donner leur adresse). In Bangkok, try to contact Mr Frederic Favre, I was more than happy to use his services earlier.

Also they have good contact with the Franco Thai Chamber of commerce (You can also call mt Narine, who work there, speak decent french and who was very helpfull for me), They also have great contact with the French Embassy and the 'Charge d'affaires economiques'.

By respect for Sunbelt, who always did a outstanding job, I will not publy here their contacts infos in Bkk, but feel free to PM me and I will give it to you.

My 2 cents would be to contact and use both Vovan and Sunbelt, as Cahng parap explained earlier. It will make your investment more secure.

Franco_thai chamber of commerce :

tel +66 02 261 8276

ask for Khun Sukanya Uerchuchai (a delicous lady who is the director there). CAll, do not send emails.

Edited November 1, 2006 by sting01

[frenchy38]

Thank you for ure great advises.. Just hope everything will run smoothly as it look a bit complicated.

Does all company needs minimum 7 shareholders??

I beleive that the rules about Thai business for foreigners are going to change soon??

Hopefully for better and easyer..

Thanks again for ure answers.. great help

Frank

[helicoptor]

-I might have already a Thai partner in Chiang Mai, how can i make sure that this partner can not sell the company at my back (with the 51% share)