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    What conditions and processes are required to establish a Thai company?

    Author:Thailand MDR Accounting Law Firm Date:2020-03-05

    In Thailand, the most common type of registered company is Thailand limited. Such companies need to pay attention to the composition of shareholders and tax registration and other related issues when they register. Due to the differences between Thailand and other countries in the registration process, the matters needing attention from the beginning of registration are closely related to the following work permit and license processing.

    We have rich experience and expertise to help you set up a company in Thailand. We can also provide the best business solution for your company registration in Thailand. You can trust us to complete your entrustment properly.

    Conditions for registration of Thailand Limited

    1. Sponsor

    To establish a Thai limited company, at least 3 promoters are required. The company can apply for registration in the name of any natural person or legal person.

    After the establishment of the company, there should be at least three shareholders. That's why there have to be three promoters to be potential shareholders. This will prevent others from moving to the court to dissolve your company.

    2. Ownership structure

    Thai law stipulates that Thai shareholders should hold at least 51% of the shares of a foreign company registered in Thailand, and foreign shareholders should hold at most 49% of the shares. When submitting the registration documents, the number of shares held by each shareholder should be listed in detail. Therefore, it is necessary to plan the equity allocation in advance, and it is better for Wenhua to propose the equity allocation.

    3. Registered capital

    Although there is no minimum capital requirement, the amount of capital should be reasonable enough to meet the expected business operation. There is no need to verify the registered capital of 5 million or less. It is worth noting that the composition of the registered capital is proposed and determined by Wenhua because the registered capital involves subsequent work permit processing and issues related to the business law of Thailand. According to Article 14 of the law on business of foreigners in Thailand, the minimum capital for foreigners to start business in Thailand shall not be less than 2 million baht. The more the registered capital is written, the better. In the actual operation of a company, the registered capital has a great relationship with the expenses of the registered company and the later financial accounting. The higher the registered capital, the higher the later expenses. Therefore, we can analyze the registered capital in combination with your business and work out the best plan.

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    How to set up a registered Thailand limited company

    Step 1: draw up the company name

    When drawing up the company's name, it should comply with the requirements of the Department of business development (DBD) of the Ministry of Commerce, and then submit it to Wenhua for verification

    Step 2: submit the memorandum of Association

    The memorandum of association includes:

    · The name of the company that has been successfully reserved

    · Registered address (you can rent your own office address and provide relevant documents and materials, or ask Wenhua to help solve the address problem.)

    · Registered capital (with the assistance of Wenhua)

    · Name of sponsor

    · Business scope (to be reviewed and filled in by Wenhua)

    Step 3: election of board of directors and legal signers, appointment of auditors, etc

    Step 4: submit registration

    It is up to us to determine the preliminary work and submit the application to establish the company.

    Step 5: tax registration

    All companies in Thailand must be tax registered. Within 60 days after the company's establishment or start of business, it is necessary to timely declare taxes, obtain tax certificates, etc., and hand them over to Wenhua to assist in efficiently completing a series of complex matters such as value-added tax, social security, etc.

    Step 6: open a company bank account

    After the company is officially registered, it can open a company bank account in Thailand. We will help to confirm the account opening matters and relevant application materials, and accompany the legal person to set up a company account in the bank

    Safety of registered Thai companies

    It is legal for a company registered in Thailand to carry out business. The company is a long-term effective legal entity. Usually, the company will continue to operate until the owner of the company is unable to operate and the company is dissolved. As an entity that cannot be dissolved easily, limited liability company is always your first choice to invest in a stable and lasting business.

    Many Chinese investors are deterred by 51% of Thai shareholders. Here, Wenhua can provide you with reasonable suggestions and successfully set up the company. Among them, the trusted directors can be selected as the legal signature representative, and the authority and scope of other shareholders can be bound by explicit provisions, so as to improve the security of the company.

    If you have any questions about the registered company in Thailand, we sincerely invite you to have a consultation meeting with our registered company lawyers, so as to locate your needs and help you find the best way to set up a new company in Thailand.

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