Registration of Company in Thailand

Company registration in Thailand

It is possible to register company in Thailand in order to receive benefit from expanding your business to the Asian market or for obtaining rights on real estate. The registration procedure involves several stages and is associated with legal difficulties, and as a consequence, it should take place under the supervision of the professionals.

Law & Trust International not only provides assistance in filling in forms, but also business registration in Thailand is carried out with the control of each stage. The lawyers collect the documents on the basis of the power of attorney provided by the client, and personally recheck them concerning existence of mistakes and presence of inauthentic information.

The applicant's service takes place in the office or remotely, if the client is in the country where there is no physical representative office of our company. Due to Law & Trust services, the procedure of establishing business in Thailand takes short time and requires minimum possible level of financial costs.

Company in Thailand: stages of registration

Preparation and approval of the name of the company

Our experts recommend providing at least 3 unique variants of the name for the future business, taking into consideration that all those consonant with the already existing names will be rejected. The preferable language of approval is Thai. If the founder registers business in Thailand with the name in English, he needs to provide the correct phonetic translation.

There are the following conditions for the approval of the name:

1. It is prohibited to use the word "investment", as well as a number of terms, full list of which can be clarified by the legal experts of our company.
2. Non-residents of Thailand need to use the services of translator for phonetic interpretation of the name and for preparation of documents, otherwise the mistakes may occur.
3. The name approved when registering the company in Thailand is reserved for one month until positive decision on the establishment of new business. During this time the applicant shall go through all the stages of registration, because the extension of reservation is impossible.
4. When selecting the name, the preference should be given to brief, but succinct ones, so that potential users and partners are not confused when writing and compiling the documentation.

Drawing up the Memorandum of Association

The document contains information about the name of the company, the actual address of its location in the territory of the state, the type of activity, the amount of nominal capital, the data regarding the founders and samples of their signatures. If there are several founders, then in addition to the data on each one, it is necessary to indicate the amount of their shares in the business. When registering company in Thailand, the founding agreement is signed by the founders and two witnesses.

Holding of the shareholders' meetings

The procedure is necessary for detailed analysis of issues related to registration of the form of ownership. the general director, auditors and managers are appointed at the meeting, as well as the allocation of their responsibilities is also carried out thereat. The main reason according to which the meeting is required is the drafting of the Charter. This is the necessary document when registering company in Thailand.

Registration of constituent documents and obtaining the taxpayer's number

The documentation package is collected by the specialists of our company, and the founder should fill in the application according to sample and with the help of lawyers. After verification of all the documents, they are transferred to the Ministry of Commerce of Thailand. The data that shall be indicated in the application, the language of filing in and the related information will be specified to you by the specialists of Law & Trust International.

In order to officially register company in Thailand, the founder shall obtain the Tax ID (taxpayer registration number). The ID is assigned within two months after the registration of business. It is impossible to open local bank account without individual taxpayer number.

The necessity to assign VAT can result from two cases, namely: if the level of business turnover is more than 1,6 million bahts or if the founder tends to obtain work permit in that country.

What is the cost of business in Thailand

Law & Trust company provides for a variety of services necessary for company formation in Thailand and its subsequent assistance, however the list of tasks is determined on a case-by-case basis. The cost of establishing company in Thailand is calculated after specification of form of ownership, form of activity and other criteria.