Menu
Expat.com
Search
Magazine
Search

Selling an existing business

torbeneri

HI. If I sell my existing business and the new owners keeps the staff on as is, will there be any liability  regarding severance pay as the staff stays on?

See also

Resident permit in ThailandGetting married in ThailandTraveling to ThailandRetiring in ThailandFinancial advisors in ThailandLawyers in ThailandMy Thai Wife Died
martinoo2002

This.is called a going concern transaction. You either pay your staff the built up liabilities or the provisions/accruals are absorbed in the sales or.purchase price. Make sure when you do the latter it is.mentioned in the contract!!!

Both ways....