The procedure for Company Registration in Thailand is fairly straightforward. The first step is to select a company name. The name must be available in the country. It must also be registered within three months of the Statutory Meeting. If this date is extended, it must be justified. The director of the company must sign a statement verifying that all shareholders have paid their subscription. The registration fee is THB 5,500 per THB 1 million registered capital. After company registration, the company must apply for a corporate tax ID card within 60 days of incorporation.
In addition to company registration, a business license is required to conduct business in the country. The Ministry of Commerce has made this process easier than ever for foreign investors. In Thailand, foreign investors can register a company in a variety of different ways. For example, you can incorporate a limited liability company, which is very simple to register, or you can register a corporation in any country. If you need to register a limited company in another country, you can also incorporate your business in Thailand.
During company registration, the company must have three shareholders and a single director. The Civil and Commercial Code states that any three people can form a limited company. While the shareholders have some control over the company, their direct involvement is limited. A board of directors is responsible for the affairs of the company. The directors have fiduciary duties toward the shareholders. These tasks are also performed by the directors. You can hire a Thai lawyer to assist you with the process.
The name of the company is very important. It should be easy to pronounce and be in accordance with the country’s rules. The company name must be in the Thai language. It may be in English but it will still be difficult for non-English speakers to pronounce it correctly. The company name should be different from the business name. Once you decide on a business or product name, the next step is obtaining a corporate bank account.
The application for company registration in Thailand must be lodged on the same day as the memorandum of association. After the statutory meeting, the application for registration must be filed within 90 days. After company registration, the tax ID and VAT certificates must be filed. The Central Filing Office of Thailand must be contacted to file the required documents. Once the application has been approved, the company must file the necessary VAT certificates and tax ID cards.
A minimum of two million THB is required to register a company in Thailand. The capital required to register a company in Thailand is two million THB. However, if the company has a budget of more than 1.8 million THB, the capital requirement is two million THB. If you plan to operate your company in Thailand, you must be sure to choose a name that is not already registered in the country. It should also end with the word “limited.”
Shareholders of a Thai company have the right to receive dividends and demand extraordinary meetings. Besides that, they can sue the company for damages. Companies are required to disclose their financial statements and annual audits. In addition, the shareholders must pay their own tax bills and annual fees. In addition to this, there are no residency requirements. A majority of shareholders must be Thai citizens to register a company in Thailand. These requirements vary by country.
The Ministry of Commerce will issue the certificates that are required to establish a company. The certification will also contain a list of the company’s shareholders. In the meantime, the shareholders must pay the registration fee. There is no legal obligation for foreign investors to register in Thailand. Once the MOA has been filed, the next step is to select a company name. The name should be short and descriptive to avoid confusion among potential users and partners.
Once the company has been registered, it is time to open a corporate bank account in Thailand. The DBD will help you fill in all the necessary documents and open a corporate bank account in Thailand. During the registration process, the DBD will need to approve the name reservation. This approval will be granted within a few days. It will be necessary to provide proof of identity, if applicable, of the directors. The DBD will also provide the bank account number for foreign investors.