Did You Know?

By far the most popular company formations are related to the purchase, sale, development or rental of land and property in general. Have you ever wondered how many companies are registered in Banglamung?

It is common knowledge that most Thai Companies in Pattaya are set up for foreigners, who based in Thai law can’t buy property in their own name, so that they can buy property in a company name and have nominee share holders sign a blank form to transfer shares and have foreigner hold the paper.

A question often asked is "Is this a safe process?" Another commonly asked question relates to the advice being provided by a Thai lawyer. One thing that foreigners can do to protect their rights is to record their mortgage on the back of the title deed (chanote) at the Land Office. If you need help you can contact PAPPA Legal Services at 084 111 7999 or 081 816 2333. They are specialists in recording mortgages. That way you are 100 % secured and no one can do anything unless you or your notarial representative appear in person at the Land Office to authorize any transactions.

Do you know how to find out if your lawyer filed your balance sheet and company tax after he collects your money? If you want to check simply go to www.dbd.go.th, a site which provides English language. Select English language on the top right then click on e-service. Next you have to sign up after which you can sign in and use the site. You will be surprised to find the site contains all the information about your company, some of which you may not have know before.

If you are having problems finding answers which deal with your questions comprehensively please feel free to send your question to pattayatimes@gmail.com. We will help you find the answers. Please be sure to provide your company registration number and company name when you contact us.