Partnership vs Company Limited, pros and cons

[ricktak]

Current sole proprietor business, looking into partnership or company limited, as taxes are very high and limited deductions available, business owned by thai, 6 employees, all thai, if foreigner were to be involved what are the requirements, will eventually contact a lawyer but looking for some information as to the benefits of either option, from some of the people on here who might have done either one of these. Any real info (not guesses) would be appreciated. Thanks.

 

[maoro2013]

See a lawyer or accountant. I can give you plenty of information,  but from Australian commercial law. Here there are some other considerations, tax, work permits and so on.

[catinthehat]

3 hours ago, maoro2013 said:

See a lawyer or accountant. I can give you plenty of information,  but from Australian commercial law. Here there are some other considerations, tax, work permits and so on.

+1

[catinthehat]

Again, I stress to engage a professional "dual" established firm. You will find that having the ability to manage your business affairs and legal (visa, wp, etc) you will require is painless under one roof.  My only involvement with the legal aspect is final personal appearances for my annual "B" visa.

The firm I use has been around for a very long time. Their service is almost flawless. PM me if you wish.

[khunPer]

A foreigner can only legally own up to 49 percent of a business, no matter what you choose – however, "company limited" gives you better options with preferred shares and minimum three shareholders, but it's depending of the Thai partner, and what risk-level you are prepared to take. Talk to an experienced business lawyer, first informal meeting is normally free-of-charge.