Doing business in Thailand, you have the choice over what type of business organization to establish – a Thai partnership, a Thai representative office, or a Thai limited company. Interestingly, a private limited company is the most appealing form of business organization among foreigners that doing business in Thailand.
Doing business in Thailand can be very complicated and may take you several weeks to complete the process. This is mainly due to the registration procedures and the required documents and forms being in Thai. It follows that you need someone you can trust and who is able to communicate in Thai on your behalf to be able to successfully review your company registration.
We, our professional teams can assist you in setting up your company in Kingdom of Thailand. Our registration service covers all aspects of registering & operating a business in Thailand for an affordable cost.
Thai Private Limited Company
This is the preferred form of a juristic entity for foreign individuals or companies that new to Thailand and who are interested in establishing a full juristic presence here. It is the most popular form of business structures in Thailand, and it also the most common form of business registration in Thailand. Due to the fact that not only are the Shareholders’ liabilities limited to the amount of the shares they possess, but a Thai private limited company also allows separation between investor’s body and managerial body.
Private Limited Company must also follow accounting procedures specified in the Civil and Commercial code, the Revenue Code and the Accounts Act. A balance sheet must be prepared once a year and filed with the Department of Revenue and Commercial Registration. In addition, companies are required to withhold income tax from the salary of all regular employees.
There are three main steps involved in the Company Registration process, they are:
1. Company Name Reservation
The first step is to reserve the desired company name with the Department of Business Development (DBD), Ministry of Commerce, your company’s name needs to get approved from them. This registration is valid for an initial 30 days. You have to give us three alternative company name suggestion, we will apply it in person on your behalf.
2. Filing of Memorandum of Association
This document must contain the objectives of your company, the approved company name, the authorized capital, the desired location of the company, the extent of liability of the directors, as well as the names, nationalities, addresses, occupations, and ages of at least three promoters. These three promoters have to be natural persons, and will have to sign the original application form. Each must subscribe to a minimum of one share of the company each.
3. Submission of the Articles of Association
Finally, the Articles of Association have to be submitted defining the specifics of the company, i.e. share structure and distribution, types of shares, voting rights, quorum, directors, dividends, auditors, and any other essential regulations and characteristics of the company. In principle, the filing of these documents completes the registration process, and the company’s Certificate of Registration with supporting documents will then be issued.
Our service includes:
• Company name selection
• Preparation of Memorandum of Association
• Preparation of registration application
• Drafting articles of incorporation / company by-laws
• Formation of shareholder structure, and coordination of Thai shareholders
• Selection of initial capitalization level
• Creation of company seal/stamp
• Selection and designation of accountant/auditor
• Designation of company directors
• Selection of registered office location, and certification of tenancy
• Satisfying requirements for company signs, office location maps
• Corporate Tax Registration
• VAT registration
• Social Fund registration
• Opening of Thai bank account
• Obtaining Alien Business License