Making use of the Thai Co. structure to own land in Thailand

**William** · 13-01-2006, 08:24 AM

Originally Posted by friscofrankie

Got another question; if you've a mind:
I read somewhere that with an investment (capitalization?) =>30 million baht, and BOI approval, a foreign entity may buy and hold commerical property not limited to industrial reservations. I've been searching my (limited) library and cannot find the entry. Did I dream this? Or, is there some validity to this information?

FF:

If you see my article "So you want to own property in Thailand?" (http://www.teakdoor.com/forum/showthread-t_1338.html) lower down in this forum, you'll see this is covered under
Section 27 of the Investment Promotion Act 1977.

Hope this helps
~W~

**machangezi** · 13-01-2006, 09:45 AM

Thank you Will for the info.

*printing to be kept in me organizer*

**kenkannif** · 13-01-2006, 09:59 AM

Originally Posted by William

Originally Posted by friscofrankie

Originally Posted by klongmaster

Originally Posted by friscofrankie

Getting up and Staying Up in Thailand

FF:thought this was going to be a brief of the pros & cons of Viagra

Goddam me I've been waiting for a comment such as this for thirty days! Thanks Klongmeister!. cringed when I posted it can un cringe now..
BTW -- the title of hte book was Starting Up and Staying Up

Originally Posted by dirtydog

You can register a company with as much capital as you want, you dont actually have to have that money though.

Was setting up a Ltd Co. a few years back with the ex. The CPA told us for a WP needed 2 mil cap fully paid up. BUT we could startup with any amount if a WP was not important and then only needed 25% of that capital actually paid up. I was told I could not have my name on the company's bank account unless i had a WP... walked away...
Shortly thereafter, tossed the old lady, went to pattaya and 'invested' my 'capital'. best 12+ grand I ever spent.

FF:

In order to apply for the 'initial' WP, this advice is wrong. All you need is to have a Baht 2 million capital company, of which 25% must be paid up. However, renewal of the WP is where the problem comes into play, as you need to have revenue + capital.

Also, while the WP may only need Baht 2 million, the visa (1 year without needing to do visa runs) may need more. On that point I defer to my learned colleague Mr. Ken

Again I'm more school WP/Visa info. But I'd hazard a guess that with the full 2 million you'd get the one year (I'll see if I can check on TV etc.)...would you still need the tax paid to Thai staff doodah though?

**Marmite the Dog** · 13-01-2006, 10:04 AM

Originally Posted by kenkannif

would you still need the tax paid to Thai staff doodah though?

I was advised that you do need to show tax paid to Thai staff, plus as a Ltd company you need full accounts.

**kenkannif** · 13-01-2006, 10:09 AM

^ See I think schools can avoid that.

**William** · 13-01-2006, 10:13 AM

Originally Posted by Marmite the Dog

Originally Posted by kenkannif

would you still need the tax paid to Thai staff doodah though?

I was advised that you do need to show tax paid to Thai staff, plus as a Ltd company you need full accounts.

I would agree that you need full accounts. Also, while you can establish a company for as little as Bt. 35 capitalisation (7 shareholders, holding one share, with a par value of Baht 5), in practice the MoC rarely agrees to accept the incorporation documents if the initial capital of the company cannot meet the initial expense of the company's objective.

One thing to note though, it is possible to pay for the shares in 'kind' under Section 1119 of the Civil and Commercial Code. Thus, payment for the shares does not necessarily need to be monetary payment.

**Marmite the Dog** · 13-01-2006, 10:16 AM

A friend of mine was advised that he could use his website as capital, so I guess anything goes if your lawyer is smart enough.

**friscofrankie** · 13-01-2006, 12:11 PM

Originally Posted by Fabian

How was the ROI?

Broke in Bangkok,
Boring miserable
Made me decide to move to Chinagmai. Met the woman I'm with, got involved in what I'm doing now
looks to pay off quite well.
Besides, i was famous on some small soi for a few weeks in pattaya memories that'll last a lifetime, or at least until Jan 28th. Not the best ncvestment I've ever made but, all-in-all, ROI was satisfactory.

Originally Posted by william

If you see my article "So you want to own property in Thailand?" (http://www.teakdoor.com/forum/showthread-t_1338.html) lower down in this forum, you'll see this is covered under
Section 27 of the Investment Promotion Act 1977.

Hope this helps

I swear, I read that post over before posting... Sometimes i think I get too bleary-eyed sitting in front of this infernal machine all day & night. Just finished my 2nd cup of coffee, let me try it now...
The density of legal firms claiming specialization in farang business' in Chiangmai is quite high, have any experience with one you'd recommend?
I need a shark, but want 'em to be my shark.

This thread rocks..

**William** · 13-01-2006, 12:17 PM

FF:

CM law firms - no; but I do know a woman I worked with here in Bangkok 8 years ago. She was a shark then, but I heard she had a child and mellowed out to CM - so I have no idea how up-to-date she is.

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