A judge has ruled that a prenuptial agreement signed by a bride three days before her wedding, was done so under duress reports The Courier Mail.
The bride told the court her husband to be told her the wedding would be off if she didn’t sign the prenup and so she felt obliged to do so. The agreement said each spouse would retain their own assets if they separated. At the time the wife only had a car, which has since been sold to pay for the family’s care, while the husband had property and a substantial amount of money.
The court heard the husband now has a $330,000 property, the former matrimonial home worth $725,000 and a business valued at $283,722.
Bitcoin, the virtual currency which is growing in popularity, has announced it has suspended trading in Thailand after officials allegedly declared it illegal.
Bitcoin Company Limited says on its website that the central bank informed it on Monday that it’s now considered illegal to trade bitcoins, move them in or out of the country, or use them to buy or sell goods or services.
Thailand attorneys, Chaninat and Leeds specialize in Thai and international business law cases
Some argue however that it is not as clear cut as that, and that the currency has not been banned and there has been a miscommunication of the facts.
Regardless of the present position, this is not the first time bitcoin has hit the headlines. In May, the US arrested one of bitcoin’s largest traders, declaring the monetary exchange service falsified financial documents.
Such individuals would be well advised to become familiar with a piece of legislation called the Foreign Business Act (FBA). This sets out the rights of foreign companies in Thailand, as well as what is not permitted.
The first and biggest obstacle is that most, although not all, foreign businesses looking to register in Thailand require a Thai majority shareholding.
It is also possible obtain an alien business license, and Americans can set up an amity treaty company, but many companies prefer to have a Thai majority shareholding. Many foreigners choose to form a Thai majority company, so that the Company is able to operate a business in a category that is restricted to foreigners. The registration of a Thai majority company generally requires less registered capital and less paperwork than the registration of a foreign company. A Thai majority company can also buy land.
Unfortunately some foreign companies choose to take the easy way out. A nominee shareholder is a shareholder in name only: in reality nominee shareholders lacks any real financial stake or interest in the company. Under the FBA, the practice of Thai nominee shareholders is illegal.
There are companies in Thailand who will offer to supply Thai nominees. This is extremely high risk:
you will have no knowledge of who the shareholder of your company is;
they are employees who will probably be listed as shareholders in multiple companies
if they leave employment they have no relationship with you and owe you no loyalty.