Company registration in Thailand can be difficult if you do
not know what choices you have in the forms of business setup that is suitable
for your situation. If you want to know about a Thai limited company, then
check out the page “Thai company registration and costs” which discusses
process, fees and things you need to know to get it registered. The following
is an overview of business formation available in Thailand. There are 4 types
of company you can establish or choose to operate your business here:
1.
Thai Limited
Company. The most popular form of Thailand
company registration among general investors is private limited companies due
to the fact that the liability of the investors is limited to the amount of
unpaid shares subscribed by them.
A Thailand limited company requires a minimum of three promoters who file a memorandum of association, convene a statutory meeting and register the company. Once the Thai company has been registered, it needs to obtain a tax identity card. Some companies are required to register into the VAT (Value Added Tax) system, depending on the types of business and the level of their gross income. They must also follow accounting procedures specified in the Civil and Commercial Code, the Revenue Code and the Accounting Act. Companies are required to close their accounts and have an auditor audit their books and file their audited financial statements once a year with the Revenue Department and the Department of Business Development.
A Thailand limited company requires a minimum of three promoters who file a memorandum of association, convene a statutory meeting and register the company. Once the Thai company has been registered, it needs to obtain a tax identity card. Some companies are required to register into the VAT (Value Added Tax) system, depending on the types of business and the level of their gross income. They must also follow accounting procedures specified in the Civil and Commercial Code, the Revenue Code and the Accounting Act. Companies are required to close their accounts and have an auditor audit their books and file their audited financial statements once a year with the Revenue Department and the Department of Business Development.
2.
Sole
Proprietorships. This is not the form of
business in Thailand we recommend since the sole owner is exposed to unlimited
liability of the business.
3.
Partnerships. A partnership can be registered and unregistered.
Again partnerships are not recommended for foreigners wanting to do business in
Thailand for the same reason as sole proprietorships.
4.
Branch
Office. You may choose to operate your
existing foreign company in Thailand as a Branch Office. Or you can choose to
set up a representative office, which is a form of Branch Office but as a
representative office you cannot earn income in Thailand.
In order to operate a business in Thailand as a foreigner,
you need to consult Thailand Foreign Business Law. Certain types of
businesses do not have to apply for a Foreign Business License while most types
do require that you get the Foreign Business License before you start the
business operation.
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ReplyDeleteI will recommend anyone here looking for loan to contact a loan officer Ben Lee on Email... 247officedept@gmail.com Then whats-App as well.... +1-989-394-3740