RETAIL OUTLET

[theram 22]

Thinking of forming a company with my long time gf to rent out a unit in her families shopping mall to sell kitch. My collateral, so profit all mine until this sum recouped. She would get a managers wage. Then 50-50 with her getting 100% of the gains after my demise. Thats the plan anyway. Can i be named as a partner on her business (guess it would have to be that way) with this formla stipulated? Is it difficult to set up, how much would the legal fees be for this service, and where do i find out about tax deduction and holiday entitlement for us and the staff? Thanks in advance all you tycoons

[joekicker 53]

Very basically speaking, she will have to own 51 per cent of the company - BUT the bylaws can set up various controls, checks and balances.

 

It sounds to me like you need an agreement, maybe signed and witnessed, not a company. Companies require reports, must pay taxes on income, etc, etc.

 

You don't need to be asking legal stuff like this here, but any cheap lawyer can set up a legal business or agreement for you. But as you describe it, it is probably impossible. With very few exceptions, you can NOT own more than 49 per cent of any legal entity.

 

.

[theram 22]

Thanks Joe. So basically, we go see a lawyer, cheapskate or otherwise, and he runs up an agreement binding us to the stipulations already alluded to. Then we buy some stock, stick a board over the rented unit with our shop name on it, pay the unit rental and wait for the money to pour in. We bank said money and devide the profits accordingly. Any spats and we refer to the agreement in court. Sounds good to me! What about paying tax, medical ins, etc? I'd like to know so i can set it aside as we go and not be hit by any unexpected bills. Cheers again

 

Very basically speaking, she will have to own 51 per cent of the company - BUT the bylaws can set up various controls, checks and balances.

 

It sounds to me like you need an agreement, maybe signed and witnessed, not a company. Companies require reports, must pay taxes on income, etc, etc.

 

You don't need to be asking legal stuff like this here, but any cheap lawyer can set up a legal business or agreement for you. But as you describe it, it is probably impossible. With very few exceptions, you can NOT own more than 49 per cent of any legal entity.

 

.

[theram 22]

Thanks Joe. So basically, we go see a lawyer, cheapskate or otherwise, and he runs up an agreement binding us to the stipulations already alluded to. Then we buy some stock, stick a board over the rented unit with our shop name on it, pay the unit rental and wait for the money to pour in. We bank said money and devide the profits accordingly. Any spats and we refer to the agreement in court. Sounds good to me! What about paying tax, medical ins, etc? I'd like to know so i can set it aside as we go and not be hit by any unexpected bills. Cheers again

 

Like a partnership legal entity, right?

[joekicker 53]

Thanks Joe. So basically, we go see a lawyer, cheapskate or otherwise, and he runs up an agreement binding us

 

Stop right there, at least for me. That's the limit of what I *KNOW* is true. Yes, it were me, I'd definitely tell a lawyer what I wanted, listen to his/her advice.

 

.

[2 slices short 10]

Like a partnership legal entity, right?

 

Try Kevin Harper of "British Law" on 3rd Rd in Pattaya about 200m south of Pattaya Klang.

Great bloke to get along with and will set you in the right direction. His prices are reasonable and he will advise the most efficient and safe way (for you) to establish your security in the situation.

 

Tell him that "Ken from the boat" sent you.

 

Cheers : Admiral Ken

[theram 22]

Stop right there, at least for me. That's the limit of what I *KNOW* is true. Yes, it were me, I'd definitely tell a lawyer what I wanted, listen to his/her advice.

 

.

[theram 22]

Cheers Admiral, i will do exactly that in January. Any idea what he rushes for an initial meeting? 30 mins or so? I'll start preparing my brief!

 

Try Kevin Harper of "British Law" on 3rd Rd in Pattaya about 200m south of Pattaya Klang.

Great bloke to get along with and will set you in the right direction. His prices are reasonable and he will advise the most efficient and safe way (for you) to establish your security in the situation.

 

Tell him that "Ken from the boat" sent you.

 

Cheers : Admiral Ken

[2 slices short 10]

Cheers Admiral, i will do exactly that in January. Any idea what he rushes for an initial meeting? 30 mins or so? I'll start preparing my brief!

 

Kev will probably do the first meeting for free. You'd need to verify that but most lawyers will talk with you first to ascertain the requirements and determine the direction that they will recommend. He'll then give you an estimate and after that it's up to you if you want to engage him.

 

Give me a call when you get in and we'll have a few brews, with the girls if you want.

 

Cheers : Admiral Ken

[2 slices short 10]

Recent facts have been bought to my attention.

The recommendation I made above was in good faith and to maintain the same good faith I need to advise of items on public record that have been bought to my attention

 

The document link below details the proceedings wherein he has been suspended as a lawyer. Make up your own mind.

 

I will no longer recommend his services and have already engaged another local company to look after my legal afairs.

 

http://www.solicitorstribunal.org.uk/Content/documents/9816-2007%20-%20Harper.pdf

 

A search on Google for "Kevin Harper Pattaya" brings up other documents which in the process of "due diligence" should be considered before engaging his services.

 

AK