Company Startup

[iamjack]

Hi guys,

I recently met a China investor who is interested to expend his business in Thailand. He used to be my company's machinery supplier for many years. 

Here's the issue i am a Singapore Citizen Holding a Work Permit in Thailand. 

How should i go about starting a Company since both of us are Foreigners. I read online stating some business for some Nationals can start up a Individual owner company.

We are looking into selling Imported Machinery. I called up some Agency which i cannot get a firm answer. 

If anyone has any experience on Registering a Individual Owner Company or Know agency that deal this, i'll appreciate the comment. 

Thanks 

[SbuxPlease]

You should perhaps consult a lawyer, but generally all businesses in Thailand require at least 51% Thai ownership. There are ways to skirt this by setting up nominee businesses but of course there is some risk to this that a lawyer would advise you on.

A very limited set of foreigners can have 100% ownership, such as Americans under the treaty of amity.

The other way is to become approved by the BOI (sometimes known as becoming a "BOI company") - essentially this is a department that can approve exceptions to the normal rules for businesses including foreign ownership and work permit rules if they believe it is in the interest of Thailand to do so. 

I don't think getting registered under the BOI is particularly hard, but if you are just importing/exporting they may not see any particular value to this. An attorney experienced with setting up BOI companies could advise.

 

 

[blackcab]

At the present time a limited company needs a minimum of 3 shareholders. 

[Neilcnx]

Thai and US have a treaty called an Amity Treaty (for short) Only a US citizen can open a company and own more than 51% (actually 98%) but doesn't have to. The company would still need 2 million baht paid up capital for each foreigner involved - even me as shareholder whether I work or not.

 

Reply if going further

[jumbo]

unless you buy an existing shelve company... that would need less investment

[Neilcnx]

Hadn't heard of this. Are/is there a broker that deals in this?