| <!-- @page { margin: 0.79in } P { margin-bottom: | | | | Here are the steps to follow in registering a Thai |
| 0.08in } A:link { so-language: zxx } --> | | | | Limited Company: |
| It is undeniable that Thailand is one of the | | | | 1. |
| sought-after places in Asia for start-up businesses. | | | | Choose a name for the business. Make sure that it |
| Most foreigners prefer to establish their companies in | | | | complies with the guidelines set by the Department |
| the Kingdom due to its fast-growing economy. Also, | | | | of Business Development under the Ministry of |
| with the continuous support of the government, the | | | | Commerce. |
| adequacy of facilities, and the efficient work force, | | | | 2. |
| Thailand is becoming a viable spot for commerce, | | | | Apply for a Memorandum of Association (MOA) at |
| better than ever. | | | | said department. The following information must be |
| In setting up a Thai company, legal assistance is | | | | provided by the company: |
| strongly recommended. This is due to the fact that | | | | 3. |
| Thai laws allow foreigners to own only 49% of the | | | | Company name (in Thai and in foreign language) |
| company's outstanding capital stock. With proper legal | | | | 4. |
| assistance, measures can be adopted in order to | | | | Brief business description |
| achieve 100% foreign ownership. | | | | 5. |
| Thai laws allow foreigners to establish any of the | | | | Amount of capital |
| following three (3) types of businesses in the | | | | 6. |
| Kingdom: a) Thai Partnership; b) Thai Representative | | | | Number and amount of shares held by each |
| Office; and c) Thai Limited Company. Among the | | | | stockholder |
| three, the establishment of a Thai Limited Company | | | | 7. |
| is common. | | | | Company address |
| Thai Limited Company | | | | 8. |
| A Thai Limited Company is usually preferred by | | | | Personal information of the promoters, i.e. name, age, |
| foreigners, and commonly recommended by legal | | | | address |
| counsels because other than involving more than | | | | 9. |
| three (3) promoters, this set-up exhibits fairness and | | | | Number of the subscribed shares of the promoters |
| equality among the shareholders of the business. | | | | 10. |
| The capital of the company is equally divided among | | | | Promoters' signature |
| shareholders and the liabilities are paid in proportion to | | | | |
| the amount of shares held. | | | | 1. |
| This type of business also provides incidental benefits | | | | Upon release of the Memorandum of Association |
| to Thailand nationals. Since there is a 1:4 ratio required | | | | (MOA), the required documents must be submitted |
| among foreign and local employees, a Thai Limited | | | | to the Private Limited Companies Registrar for |
| Company provides more employment opportunities | | | | registration. |
| for locals. | | | | |
| Requirements | | | | 1. |
| Registering a Thai Limited Company mandates | | | | Mandatory as it is, the promoters must register the |
| compliance with the following requirements: | | | | company with the Revenue Department for taxation |
| 1. | | | | purposes. |
| Minimum of 2 Million THB capital per foreign | | | | |
| shareholder, (e.g. 1 shareholder = 2 Million THB, 2 | | | | 1. |
| shareholders = 4 Million THB) | | | | Enlist the company at the Social Security Office in |
| 2. | | | | the Ministry of Labor for Social Security and |
| 1:4 ratio of employees (for every foreigner, four Thai | | | | Workmen's Compensation funds. |
| employees must be hired) | | | | |
| 3. | | | | 1. |
| Work permits for foreign employees | | | | Submit the company work rules, as agreed upon |
| | | | | during the statutory meeting, to the Office of Labor |
| | | | | Protection and Welfare having jurisdiction over the |
| | | | | area where the office is located. Upon approval, the |
| | | | | rules must be posted in a conspicuous area in the |
| Procedure for Thai Limited Company Registration | | | | office. |