Money changers in Pattaya

[inquisitive lobster]

Hi,

 

I've tried searching this on Google but alas the Google guru was unable to sufficiently explain what I needed.

The questions I have are as follows:

 

-Can someone explain to me what exactly does the DBD Certificate do, as in what it can be used for?

 

-Also what are the differences between the shareholders and the people listed on the DBD?

 

-Finally, the people listed on the DBD, what powers or rights do they have in regards to owning/controlling a company (as in owning and controlling a company's assets and bank accounts)??

 

Your answers regarding the questions above will be most appreciated.

 

Thanks

IL

 

 

[blackcab]

When you say DBD certificate, do you mean the 4 page purple coloured document produced by the DBD? I will assume you do as this is what most businesses routinely use.

 

The DBD document lists the date of incorporation; company number; company name; names of company officers; company address(es); registered capital and the company objectives.

 

This document is requested many times by other businesses and government departments.

 

What can it do? Not a lot by itself, but it will be required (amongst many other things) to:

 

Register utilities; install phone lines; get contract phones; create contracts with other companies; get a work permit; get an extension of stay based on working; buy property in the company name and just about any interaction with a government department. Copies must be signed by a company officer.

 

The difference between shareholders and people listed on the DBD? In simplistic terms the shareholders own the company, the officers manage it. Understand that shareholders can also be officers.

 

The people listed as officers have full rights to do anything they choose to do when running the business as long as they are acting in the best interests of the company and within the limits imposed at a General Meeting. That includes disposing of assets. This is because they were appointed as officers at a company General Meeting and given the authority to manage the business by the shareholders.

 

If the shareholders don't like what the officers are doing then if they have enough shares they can call an EGM, take a vote and replace them if necessary... unless the officers are also shareholders and have over 50 per cent of the vote.

 

That's roughly it, but there are many exceptions.

[12DrinkMore]

Hi,

 

My understanding  is 

 

Quote

-Can someone explain to me what exactly does the DBD Certificate do, as in what it can be used for?

 

It allows a foreign operated company to engage in the activities which are normally restricted according to the  Foreign Business Act BE. 2542 (1999).
 

Quote

-Also what are the differences between the shareholders and the people listed on the DBD?

 

Two completely seperate entities, shareholders own the company, the DBD certificate lists the foreigner (s) that are allowed to operate the company in the areas specified by the certificate.
 

Quote

-Finally, the people listed on the DBD, what powers or rights do they have in regards to owning/controlling a company (as in owning and controlling a company's assets and bank accounts)??

 

Unless they are shareholders they have no rights of ownership. How much control they have over assets and bank accounts depends on what the shareholders allow in the terms of employment. 
 

Edited August 9, 2017 by 12DrinkMore

[blackcab]

@inquisitive lobster you need to clarify what you mean by DBD certificate.