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Licensing company in Thailand in accordance with the law of the foreign business
Everyone has long known that the registration of a legal entity must be 51 percent owned by Thais, and only the remaining 49 percent to foreign shareholders - and still from time to time there are questions - "Is it possible to somehow do differently? '" And in another absolutely nothing? "etc. In order to continue these issues did not arise, turn to the sources.
Let's start with the fact that according to the law of the foreign business is a foreigner: a) any natural person who has the nationality other than Thai, and b) a legal entity that has been registered as a legal entity anywhere, but not in the Thailand, c) and Finally, a legal entity which is registered in Thailand under the scheme described above, when a 49 percent stake in the foreign and the remaining 51 percent - Thai.
In the latter case, the company is Thai, although the share of foreign rather high. It is in this embodiment usually insist lawyers. Try to understand why.
So it turns out that when you make this way are two options - the first issued a company focused on the acquisition of real estate, and in the second - designed for any commercial activity. In the first case, the Land Code does not allow foreigners to give land ownership, so the only Thai company may be the way out of the situation. Although there is a long-term lease option, then it is, you see, is another case - neither of which the transfer of ownership here is not the question.
As for-profit company, it has the right to life, but only if the law of a foreign business. It is important that they meet its basic points - namely, you can not work a merchant in the following sectors: livestock, media, farming, etc. In a special application has a complete list of these areas. In addition, you can not do business in the fields of art, culture, local crafts and traditions, and others, as well as those activities where the Thais are simply unable to compete with the professionals from abroad. All of these sectors are described in the second and third, respectively, applications.
Another limitation is that the minimum capital should be three million baht. In addition, the companies involved in one of the activities described in the Second Schedule shall be at least 40 percent of the shares is owned by local shareholders and the same number of members on the board of directors must be Thais.
But all of this on a license are not exhausted. The decision depends on the analysis of the magnitude of benefit and harm, which can cause your business to Thailand, namely its culture, ethics, environment, traditions, level of employment, and many other concepts, has important effects on the level of development of the country.
Of applications for licenses may be two months, and if needed, it can be increased to about double. Add to that two weeks to issue the license itself - and you can see that the event is quite long.
All of the above limitations and lead, in the end, to the fact that without having to pay 51 percent of the shares registered in the firm really will not work. And, anyway, this is the only working version!