Business Registration Options in Thailand
Whether you're a first-time entrepreneur, or you're already operating a successful business, there are many Business Registration Options in Thailand. There's no minimum capital requirement to register a company in Thailand. You can register for as little as Baht 5 per share, or up to Baht 15 for a full-paying company. The government fee is the same regardless of the capital level. In addition, private companies in Thailand are able to be registered with a minimum paid-up capital of 25%, up to a maximum of 100%.
Registering a Company in Thailand
When registering a company in Thailand, first, you need to reserve the name of your company. This can be done online. You will also need to fill out and sign a Notice of Reservation. This form is valid for 30 days. There are also some different fees. For example, you will have to pay a stamp duty of approximately 400 THB for each document. If your company will generate more than 1.8 million THB in revenue per year, you will have to pay a registration certificate fee.
After selecting a company name and drafting the articles of association, you will need to register your business with the Trade Registry. This is housed in the Ministry of Commerce in Thailand. Once you have registered your company, you will need to create shareholder statements, name directors and a secretary, and register for Value Added Tax and social contributions. Once you have completed these steps, you will need to schedule a Constitutive Meeting.
Before you can register your company, you will need to know the Thai language and culture. If you don't speak Thai well, you can hire a local partner to help you overcome the language barrier. The Department of Business Development in the Ministry of Commerce is another helpful resource for registering a company in Thailand. They can provide you with more detailed information on Thailand legislation. The Revenue Department also has information about taxes and various business types.
Thai Company Registration Process
If you want to start a new business in Thailand, you can start the Thai Company Registration Process with a few steps. The first step is choosing a name. A Thai company should have a minimum of 15 shareholders and be listed on the stock exchange in Thailand. The other steps include choosing a Board of Directors and electing an auditor. Once all the paperwork is completed, the business can begin operating in Thailand. After that, you will have to submit your balance sheet to the relevant authority.
The first step is to book your company's name with the DBD. The name you choose must not be similar to any other Thai company. Next, prepare the company registration documents, including a list of shareholders, meeting notes, and proof of share capital payment. The DBD website lists the steps involved in registering a company. However, it is important to note that you must understand Thai to correctly fill out the documents. You should hire a lawyer to help you complete the process.
After deciding on the name of the company, you will need to register it with the Department of Business Development. You must meet certain requirements for the company name, including the word "limited." You can choose up to three names for consideration and rank them in order of preference. If your name is approved, it will be registered in Thai, and it is best to avoid using names associated with the royal family, governmental units, or ministries. Also, keep in mind that some names are not allowed, such as those that are similar to the name of another company or are misleading. Once you have filed your application, your name will be valid for 30 days.
Hiring a Corporate Lawyer in Thailand
There are many benefits of hiring a Corporate Lawyer in Thailand for your business registration. In addition to their ability to speak English, these professionals have extensive experience in helping entrepreneurs register companies in Thailand. As a result, you can trust them to offer you sound legal advice and support in all aspects of business law. Whether you are looking to register a company or get a work permit, a Corporate Lawyer in Thailand can assist you in every step of the process.
When hiring a Corporate Lawyer in Thailand for your business registration, be sure to ask about the experience and knowledge of the lawyers on the legal team. In addition, they can provide you with the necessary documents. For example, they can help you notarize any documents that your company needs to be registered. Additionally, these lawyers can assist you with obtaining a work authorization if you are a foreign national.
A Thai company will need a local director to open a corporate bank account. A Thai law firm can assist you with this process. When opening a corporate bank account, the directors must be present. In some cases, a work permit is required for foreign signatories. These steps can take as little as a day. Hiring a Corporate Lawyer in Thailand for business registration can help you get your business registered in the fastest possible time.