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Global investors and local entrepreneurs planning to set up a company in Thailand need to have full understanding of the basic procedures, documentary and financial requirements, and Thai laws and legal practices enforced by the government pertinent to company and business registration in Thailand.
The most popular form of business structure in Thailand is a Private Thai Limited Company. A Thai private limited company allows separate division between investor’s body and managerial body. Also, in setting up a business in Thailand, registration of a Thai private limited company, should comply to the requirement of providing business capital divided into equal shares with the shareholder’s liability limited to the share amount they hold.
A company setup in Thailand registered as a private limited company requires a minimum of three promoters to file for a memorandum of association with Thai Ministry of Commerce, to convene a statutory meeting, to register the private Thai limited company and obtain a company income tax identity card.
Company formation in Thailand following the usual private Thai limited company brings some benefits, to wit:
With such benefits resulting from the government’s thrust of encouraging and promoting foreign investment in the country, the procedures for business registration in Thailand has been tremendously streamlined and shortened. The following are the basic procedures observed and followed in the registration of business or company in Thailand.
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