Can you purchase assets or own them if you are a part of a company?

Mon, 06/18/2018 - 14:46 -- tilalegaladmin

Some company owners want to purchase or own assets when they are a part of a company. This can be a good thing to note for those that want company registration in Thailand. Is it a good idea to approach something like this, are there challenges or issues and what can you do in order to make these issues go away?

Until 1997, people from outside the country were not allowed to get assets or properties in Thailand. As you can imagine, the foreigner had to opt for a citizenship here, and it was quite the hassle to obtain something like that. Nowadays, the laws are more relaxed, and that’s maybe a good thing in this regard.

Speaking of purchasing or owning assets for the company registration in Thailand, the best thing you can do is to have a Thai national as a partner. You need to create a Thai majority limited company. You will need to have an agreement in place and this will letting the Thai person leave the authority to you. This will come in handy, as you can purchase assets this way and that can be extremely helpful most of the time.

The joint venture owners need to complete a tax return. Administrative fees and tax need to be paid each year too, so you have to take that into account too. But as you can imagine, using nominee shareholders will not offer you the type of results and approach that you may want. It’s always important to just take your time and adapt everything to the situation.

Using nominee shareholders for the company registration in Thailand and for purchasing assets is illegal. So you do not want to use such an approach, as it’s not something legal and certainly not something you want to encounter all the time. It’s certainly a huge challenge most of the time, so you have to figure out a way to handle all of that the best way you can.

Another thing to consider is that getting a 30-year lease on a specific property can also help. You can actually extend the lease for around 60 years if you want to once you get access to it. This is maybe the best approach you can have, and it’s certainly going to be worth your time. You don’t need to have a business in order to use this approach though. So, it’s very important to take your time and adapt all of that to the situation.

In the end, it’s always important to take your time and figure out the right solution. Hiring a lawyer may help solve the issue for you. That being said, purchasing assets is indeed something you can do when you opt for the company registration in Thailand. It all comes down to using one of the methods outlined here, and it will work quite well for you. This type of method works nicely, so try to keep that in mind!

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