What do you need for company registration in Thailand?

Opting for company registration in Thailand is a very good idea as there are lots of opportunities here. The Thai economy is growing, and the market is becoming more and more powerful in this regard. That alone makes it quite easy for you to receive some tremendous benefits if you register your company here.

It’s a very good idea to hire a local professional that speaks Thai if you want the company registration in Thailand process to run smoothly. The reason is that you will need to file many different forms with the Thai agencies and you also have to deal with some forms written in the local language. So, hiring a professional will be very important.

If you are a foreigner, then you can’t own more than 49% of a company, unless you are a part of a special BOI program. So, local still need to have at least 51% of all shares for the company to exist. Some business activities allow you to go over 49% as a foreigner, but only if you receive a Foreign Business License for example.

Then you have to opt for the desired type of company. Most people prefer a private limited company for company registration in Thailand. The idea here is that shareholders have limited liability, while the directors have unlimited liability. If you do opt for such a company, you do require at least 3 promoters.

• The promoters will reserve your company name at the Department of Business Development. A thing to note here is that they need to submit at least 3 names that aren’t similar to the current ones and the DBD will choose the best one.
• Then they will have to file a memorandum of association with the Commercial Registration Department. Here you will need to add the company name, shares value, and company number. In case your company registration in Thailand also includes foreign workers in the list, you will have specific capital requirements to deal with.
• Within 3 months after the statutory meeting, directors have to send an application to register the company. Shareholders and promoters will need to pay for their shares, and they also need to sign the registration documents.
• Every new company may need to register for a tax ID too, and this usually gets delivered within the first 2 months after incorporation.
• Once the company is registered, you will have to focus on acquiring the business licenses. And only when that is done, you will be able to operate your business normally.

What you should note about company registration in Thailand is that you do need to maintain a book of income and expenses and a track record too. You do have to deal with specific financial submission requirements to maintain the company active. Overall, the entire process is very convenient and not that hard, but as we mentioned above, it’s a good idea to hire a professional from outside the country for the best results.

Looking for company registration in Thailand please visit Tilalegal.com