BUSINESS IN THAILAND

You will need a lawyer

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.

Our licensed Thai lawyers can take care of the legal points of setting up your business thereby making sure that all the necessary requirements are met. Furthermore, we can give you relevant pieces of advice on doing business in Thailand efficiently. We can help you set up a company while getting you a Thai work permit and a Thai Visa at the same time.

Thai Limited Company

A Thai limited company, particularly a Private Thai Limited Company is the most popular form of business structures 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.

Section 1096 of the Thai CCC has provided that "A limited company is that kind of which is formed with a capital divided into equal shares, and the liability of the shareholders is limited to the amount, if any, unpaid on the shares respectively held by them"

A Private Thai limited company requires a minimum of three promoters and must file a memorandum of association, convene a statutory meeting, register the Private Thai limited company, and obtain a company income tax identity card.

They 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.

Brief procedures to register a Thai company

. Reserve your proposed company name
The Thai limited company name reservation must follow the guidelines of the Business Development Office in the Ministry of Commerce amongst other guidelines.

. File a Memorandum of Association
The Memorandum of Association of the Thai limited company must to be filed with the relevant Thai authorities.

. Convene a statutory meeting
The Thai limited company must convene a statutory meeting to make all the appointments.

. Company Registration
To establish the Thai limited company it has to be registered with the Thai government.

. Tax registration
All companies in Thailand have to be registered for tax purposes