Pattaya Real Estate by Anaakot Group

Legal Services

Trusted Property, Insurance and Other Legal Services in Pattaya

View Talay condos Legal Team can assist you in any of the following services:

Land Office Property Title Deed Transfers

Power of Attorney

Thai Limited Company Formation

Thai Company Accounting & Balance Sheets

Thai Work Permit Application

Contract Preparation

Document Translation

VISA Application & Assistance

Marriage in Thailand

Property Insurance

Health Insurance

Car Insurance


 

Land office Transfers - Power of Attorney in Thailand

Once you have completed an agreement to buy and sell a property, the final part of the process is the actual transfer of the title deed at the local land office department. Thailand Property Title Deed

This is something that we strongly recommend not to try to process on your own. There are often long waiting times and if your paperwork is not fully correct it will cost you even more time and aggravation. It is quite common for these transactions to take most of the day to complete. If you have the time then you are welcome to go along with our legal representative and watch the whole procedure. However, if you are on holiday or need to spend your remaining time more efficiently then you can always use a power of attorney process. This basically is the provision of power for another person to sign and represent you at the land office in your absence.

If you would like to use our legal team to represent you in the transfer of your property and/or discuss the power of attorney process, please contact us.

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Thai Limited Company Formation

The laws of Thailand regarding foreign interests in a Thai legal entity state that there can be up to two foreign directors, who between them can own up to, but not exceeding, 49% of the shares. 3 shareholders are required to form a limited liability company, with at least 1 being a Thai national who must possess at least 51% of the shares. While at first this may feel a difficult way to hold and control your valuable and/or sentimental piece of Thai real estate or new business, in reality, it is a very common and surprisingly secure method.

Thailand Limited CompanyThai law legally allows the shares of such a company to be issued as ‘Ordinary Share’ which means that one share entitles to one vote, and ‘Preferred Share’ which effectively gives multiple voting rights per one share. The majority shares may be issued as ‘Ordinary’ and foreigner minority shares as ‘Preferred’. This allows the foreign minority shareholders to hold fewer numbers of shares, but in fact have more votes and hence total control of the company by way of voting rights. It is important to note that there have recently been stricter controls introduced sometimes requiring evidence of eligibility of shareholders to purchase their shares. We receive many enquiries from clients expressing concern that limited companies that are owned by foreigners could be exposed to 'special future legislation' by a future ‘extreme nationalist government’ with the intention of stripping foreigners of their property investments in Thailand.

However, the truth is that your Limited Company is technically owned collectively by the shareholders, not the foreign director. Therefore, Limited Companies are Thai juristic entities subject to the Thai commercial law, and any changes to legislation must apply to ALL Limited Companies, not only those whose directors are foreigners. Commercial and personal Thai law really is no different from legislation in most other countries, and it applies to all juristic entities in Thailand, whether Thai or Foreign.

There is news that in line with the formation of the 2015 ASEAN Economic Community, companies will be permitted to allow 70% foreign shareholding but this is not yet signed by Thailand.

It is important to fully understand the Thai property laws and keep up to date with any changes. We advise not to invest in vast amounts of agricultural land, but if you are seeking a plot or two to build a house for you and your partner to live in then you don’t need to worry – just get the real facts from professionals that understand and can explain the full process. Please avoid listening to the ‘bar-stool lawyers’ as they are called. These are usually people that scare prospective buyers away from the property market. More often than not they are jealous of you and do not even own their own property. If you want a second opinion, ask a respected lawyer, then ask somebody who does own a property here, surely they know more than Mr. Bar Stool.

How do I set up a Thai Company?

The Thailand Ministry of Commerce requires many documents to be filed when registering a Limited Company.

It should be noted that the bureaucratic process here in Thailand is very thorough and requires a great deal of documentation! However, our legal team can take care of everything, and our expertise will make this process very simple for you.

Processing your company formation with us will only require minimal time from you. Thailand Limited Company

Basically, this is how it works:

1) You need to decide on the name of your company.

2) You need to provide a registering address for your company.

3) You must submit a ‘Memorandum of Association’ listing all shareholders and the company Business Activities.

4) You then hold a ‘statutory meeting’ and document the minutes.

5) Your Company registration application is then processed at the Ministry of Commerce.

6) Finally we obtain your income tax ID card and number from the Revenue Department, and order your company stamp.

7) After a couple of weeks, you are presented with all your completed company documents and company stamp.

 

The cost of setting up a Thai limited company depends on the amount of registered capital of the company.

A minimum capital registration suitable for most requirements now is a one million baht company. However, if you will need to acquire a work permit, the company must have a
minimum registered capital of 2 million baht per each foreign worker. It is Thai regulation that a foreign business is required to prove they have a specific minimum amount of capital prior to approval. This can be done by submitting a document evidencing a bank account containing the specified amount, or with a declaration from the company director that the capital has been collected from the shareholders.

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Company Accounting & Balance Sheet Services

Company Accounting

Similar to any other country in the world, businesses must process company accounts, provide balance sheets and pay any relevant taxes due. In Thailand the tax year runs with the calendar from January through to December. Balance sheets must be calculated every six months, and the tax paid yearly. There are penalties for late tax payments, but as long as your accounting is kept up to date and the tax payments are made on time, there is nothing to worry about this side of owning a limited company. The important thing is getting a good accounting service.

If you would like to be recommended to our accounting team, please contact us.

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Thai Work Permits

Your Thai work-permit application must be submitted to the Ministry of labour, who will require:


Thai Work Permit - copies of various corporate documents of your sponsoring company
- copies of your Passport
- your CV and Educational Certificates
- a recent Medical Certificate
- multiple photographs
(other documents may also be required subject to case)

Your work permit is only valid for the particular job for which it was issued and within the geographic limits specified.

The work permit issued will display:

- name of the employer for which the applicant may work
- describe the position held
- describe the employment activities for which the permit is granted
- specify the location at which the activities may be performed

The work permit is valid for a maximum period of one year, application for renewal must then be made before the expiry.
You must apply in advance for any change in the identity of the employer, the position held and duties to be performed, and also the location for the performance of the work.

Again, with our expertise, we can provide all the necessary arrangements to support you through your Thai work-permit application. Simply sit back and relax, allowing us to run around and complete all the hard work for you. It is very important to get everything correct from the start. Mistakes in your work-permit application can be costly, not just in terms of time.

Contact us now to arrange a meeting to apply for your Thai work permit.

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Contract PreparationContract Preparation

There are many reasons for agreements to take place. These could be for property rental or sale, business and employment matters, joint ventures, loans, guarantees etc. It is always best to secure any agreement with a proper binding contract. Such contracts must have all parties clearly defined and identified, the offer precisely documented and agreed to be accepted by both parties.

Of course, the agreement must also be in line with the law and it is very important to specify which law the contract applies to, including if the need arises to file complaint or court proceedings. Usually, if the contract is between parties of the same nationality, then their own language and law apply. Otherwise, the law applies to the country in which the contract was written.

Whatever your contract requirements, no matter how simple, please ask us for advice.

VTC.net Legal Services often see something very important that our clients overlooked.

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Written Translation Services
Translation Services

VTC.net Legal Services are also pleased to offer full translation services, whether for business or personal matters. These might be sales contracts, or other legal documents, or even your personal love letter! Sometimes just a slight mistake in translation can mean a big difference in the way your letter is received.

Need help in translating?   Please contact us.

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Visas

If you are applying for a work-permit, you will first require a Non-immigrant Visa, type “B” (Business Visa) from a Thai Embassy or Thai Consulate abroad prior to entering Thailand. Once you arrive, you will receive a permit to stay for 90 days. After a stay of not less than 60 days but prior to the expiration of the Visa, you can apply for a one-year Visa to stay in Thailand from the Immigration Bureau.
Once approved, a one-year Visa will be stamped in your passport. Dependents can apply for a Non-immigrant type “O” Visa from a Thai Embassy or Thai Consulate abroad prior to entering Thailand.

At the time of writing the Visas of the following dependents may be extended to correspond with your own Visa:Thai VISA

a) your parents
b) your spouse by legal marriage
c) children under 20 years of age not married or disabled

Other Visas we can help you with are ‘Retirement’ and ‘Marriage’ O-Class Visas.

If you are 50 years of age or over you may apply for a ‘retirement visa’ under Thailand’s ‘extended stay program’.

You must prove that you have either 800,000 baht deposited in a Thai bank account, or a regular income of 65,000 baht per month, or a combination of the two, equating to a total minimum of 800,000 baht per year. This can be in the form of your pension as an example.

If you are married to Thai citizen you may apply for an 'O' Class Dependent's Visa, often called a ‘Thai marriage Visa’.
You must prove that you have either 400,000 baht deposited in a Thai bank account, or have a guaranteed regular income of 40,000 baht per month - or a combination of the two, equating to a total income minimum of 400,000 baht per year.

Holding any of these long term Visas requires you to report to the local Thai Immigration Bureau every ninety days.

This is a very important procedure that should not be overlooked as consequences are that your Visa will be revoked and you will need to apply again.
Whatever type of Visa you require, VTC.net Legal Services can assist you ensuring your application is filed correctly, saving you all the headache and time wasting often reported by people that try to do it themselves.

For help with your Thai Visa application, contact us now.

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Marriage in Thailand


Marriage in ThailandThailand is without a doubt one of the most beautiful locations in the world in which to marry, and getting married here is actually a fairly simple process. If you are planning to marry in Thailand you will need to obtain clearance from your respective embassy. This includes clarification of your name, citizenship and legal freedom to marry. This document then has to be translated into Thai language and legalised pursuant to the law of Thailand, before finally submitting with your fiancée’s documents and registering your marriage at the local Amphur office.

Thai registered marriages are recognized worldwide.

Added benefits of marriage are the bonus of being able to apply for a ‘marriage visa’ to stay in Thailand, or even applying to take your wife/husband back to your home country.

VTC.net Legal Services can guide you through the whole marriage process which can be as quick as one week.

Contact us now to start the process!


Protecting your assets with a Prenuptial Agreement

We have all heard the horror stories about lost fortunes through marriage, or more accurately divorce!
‘Prenuptial agreements’ are a legal standing agreement that can help you if you have assets of substantial value like property.

They form a financial plan that can be managed through the marriage or upon the break-up of the marriage. Understand that these are made before a break-up which is very different from trying to agree during a break-up! You are able to divide property into categories of separate and communal ownership, and specify how finances are managed during your marriage (except for provisions of child support).

If you think you will need to draw up a prenuptial agreement, then please contact us as we can process this for you properly, ensuring you receive the peace of mind that your assets are properly secured.

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Insurance Services

 

- Property Household Building & Contents Insurance

It takes time and effort to establish your home for you and your family to enjoy. For safety and peace of mind at home, there is no better protection than our recommended household insurance package.

This comprehensive insurance plan covers the contents of your home from loss or damage caused by fire, theft, windstorm, burst pipes, water damage, and many other accidental damages.

Renting out your property?   Even more reason to make sure that your assets are properly covered!
Property Insurance

Our trusted insurance partners can ensure your property is safe.

Please contact us for further information.

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- Health Insurance

If you are an Expat living and/or working abroad, there is nothing more important than ensuring you have adequate medical cover for you and your family.

Health InsuranceThe cost of medical treatment is increasingly expensive and very difficult to arrange, particularly in an emergency. Accessing the right kind of health insurance cover can turn out to be a nightmare. Let us help you - We have access to Private Health Care schemes made especially available to Expatriates, with all levels of cover and added freedom to choose the hospital of your choice.

Time and time again, we see the absolute nightmare families have to go through when somebody is involved with a serious illness or accident. It is always too easy to think it will never happen to you, or understand that yes you need it – and will ‘do it soon’.

Don’t delay and don’t underestimate the importance of health insurance in Thailand.

Our trusted insurance partners can ensure you are correctly covered.

Contact us now to find out more.

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- Car Insurance

If you are driving a vehicle in Thailand as a Foreigner then you must ensure that you have full cover car insurance.

As in the West there are many insurance companies in the market and you can certainly find a difference in the prices for the same cover.

Our trusted insurance partners can ensure you are correctly covered.

Contact us now to find out more.

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