Forming a Thai Company to buy house (Recommendations needed)

[CobraBiker]

Hi, I have just consulted Siam Legal about forming a thai company for the purpose of buying a house, and visa problem, this is their reply:

 

Thank you for contacting Siam Legal International

 

We would be pleased to assist you set up a Thai limited company in Thailand. As of July this year setting up a company in Thailand can be accomplished in 2 days. The first thing we have to do is reserve the name for your company. And then help you find your thai partners. Now, you only need two Thai partners as opposed to having 4-5 Thai partners which was the original requirement before July 2008.

 

Our service fee in helping you set up a company is 49,000 Baht (1530 USD) + 7% VAT. The government fee is 10,000 Baht for 2 million Baht capitalization (this is the required capital for you to be able to apply for a visa under your company). You only need to show 25% of this 2 million Baht capital. The capital are all in papers and you don't need to show 2 million Baht.

 

I suggest that you should apply a business visa from your company as well aside from using it to purchase a house so you may be able to stay in Thailand for long term. Your Vietnamese friend can also apply a business visa through your company but you need to increase your capital for another 2 million Baht. This is done through papers and you just need to pay the government fee which is 10,000 Baht.

 

Is their fee too high? Anybody has formed a company under the same circumstance, has any good law firm with good price to recommend? What about people whom had used siam legal before, do you still recommend them?

[Scottish_Tyrant]

That seems an awful amount? Never really looked into it but I would think you could find it cheaper. Thing is Siam Legal are a well known company and are well thought of on the whole.

 

You pays your moneys and takes the chances.

 

I am sure someone on here will advise you re the costs.

 

I know there has been added hassles with the Thai's having to show their incomes, or so I was led to believe.