Can Children Be Shareholders In A Limited Company?

[NaiGreg]

Can young children be shareholders in a limited company?

In my case my 2 children are dual Thai-American citizens. I am researching a start-up family-run service company.

[Chang_paarp]

This thread is about putting land in kids name, there will be similar rules for shares in a private company. Public companies may have different rules. The down side will be similar for land and shares.

Greg from Sunbelt or some of our more experienced members may be able to shine a little more light on this subject.

[Sunbelt Asia]

Can young children be shareholders in a limited company?service company.

Yes but they cannot be promoters when the company is being set up. After it is formed, then they can be shareholders.

In my case my 2 children are dual Thai-American citizens. I am researching a start-up family-run service company.

If you are American you can own the business 100% under the Amity Treaty.

www.sunbeltasiagroup.com

[migrant]

If you are American you can own the business 100% under the Amity Treaty.

www.sunbeltasiagroup.com

Any news on the 12/5 end of the Amity treaty??

And, as always, thanks Sunbelt for all the help here!

[Chang_paarp]

Can young children be shareholders in a limited company?service company.

Yes but they cannot be promoters when the company is being set up. After it is formed, then they can be shareholders.

So the kids cannot be any of the origonal 7 shareholders but once the business is up and running the shares can be sold/transfered to them?

[Nawtilus]

Anyone know if the Aussies have this 100% company agreement with Los, I read somewhere sometime ago it was a possibility with the new FTA coming on line etc.

Also, when transfering the shareholders from the original group required to your kids, what is the cost for this ?

[Sunbelt Asia]

Any news on the 12/5 end of the Amity treaty??

And, as always, thanks Sunbelt for all the help here!

Extended indefinitely. The new government likes it so no more 90 day cycles. Please be aware this being Thailand, that laws can change. If you are thinking of doing Amity, then do it sooner than later.

So the kids cannot be any of the origonal 7 shareholders but once the business is up and running the shares can be sold/transfered to them?

Yes after it is incorporated.

Anyone know if the Aussies have this 100% company agreement with Los, I read somewhere sometime ago it was a possibility with the new FTA coming on line etc.

They do but it is much more restrictive. Any sector 100% owned requires a large investment. Most sectors are limited to 60% ownership.

Also, when transfering the shareholders from the original group required to your kids, what is the cost for this ?

Depends on the lawyer. Our professional fees are 3,000 Baht.

[Chang_paarp]

Anyone know if the Aussies have this 100% company agreement with Los, I read somewhere sometime ago it was a possibility with the new FTA coming on line etc.

Also, when transfering the shareholders from the original group required to your kids, what is the cost for this ?

There are very few businesses Aussie citizens or companies can own 100%, basicly it would qualify for a BOI exemption any way.

The full text of the agreement is here; http://www.dfat.gov.au/trade/negotiations/aust-thai/ . The main thing is, Aussies can own 60% of a number of business types. Look at the FTA for details.

[RedQualia]

Any news on the 12/5 end of the Amity treaty??

And, as always, thanks Sunbelt for all the help here!

Extended indefinitely. The new government likes it so no more 90 day cycles. Please be aware this being Thailand, that laws can change. If you are thinking of doing Amity, then do it sooner than later.

So the kids cannot be any of the origonal 7 shareholders but once the business is up and running the shares can be sold/transfered to them?

Yes after it is incorporated.

Anyone know if the Aussies have this 100% company agreement with Los, I read somewhere sometime ago it was a possibility with the new FTA coming on line etc.

They do but it is much more restrictive. Any sector 100% owned requires a large investment. Most sectors are limited to 60% ownership.

Also, when transfering the shareholders from the original group required to your kids, what is the cost for this ?

Depends on the lawyer. Our professional fees are 3,000 Baht.

I've been swimming through the forums for a long while now, searching for something related to my situation. This appears to be getting close. I own 1.5 houses in Northern Thailand (land is leased for 30/30). I will own two houses there when the second is finished in April or May. The first has been rented for more than a year now, and the second one will be also. They are owned outright, so none of the income goes for a mortgage. Total rent for the two houses should be in excess of 30,000 baht per month.

It occurred to me only this morning that I'm an investor there. Combined value of the two houses is on the order of 3.5-4 million baht. My thinking is that this should be sufficient to come up with something a bit better than a tourist visa, but I'm unsure of the better approach to take. There is an investor class visa, but this appears to be targetted at those investing larger sums in securities. The alternative might be to start a company, but I've been a bit worried about having partners, employees, etc.

Would the Amity treaty referenced here allow me to simply declare my rental homes to be a formal business, while also allowing me to retain 100% ownership?

Should we discuss this matter via email?