Question:
What is your opinion on the use of an offshore company as a minority shareholder in a Thai company holding land?
Answer:
The use of an offshore company as a minority shareholder has been a practice in Thailand and a means to minimize taxes and/or maintain confidentiality by some companies. The practice is not strictly forbidden by Thai law, yet some factors should be kept in mind for companies considering employment of an offshore company. For historical and practical reasons, corporate structures using an offshore company have been subject to an increased amount of Thai government scrutiny and obstacles. Furthermore, funds remitted from sale of Thailand real estate from or to Thailand may be held up. However, individual land offices and even different officials in the same Thailand land department may have different viewpoints or procedures.
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