How To Register A Foreign Company In Thailand
You have a very positive feeling about the business idea that has recently cropped up in your mind that seems to incur huge profits in the Thai market but you are hesitant. This is when you need help from certain law firms based in Thailand having English speaking legal experts. Register Foreign Company in Thailand is much more easier than other countries. Thailand is a place where you can invest small amount of money and yield huge profits because here the GDP is growing every year and the Thai-Government helps the business owners in many areas.
5 Easy steps to register your foreign company in Thailand
- Company Name Reservation– One should come up with a unique name for the company. The company name cannot be duplicated. Thus, it is important to ensure no other organization holds the same name. But the approved corporate name will only be valid for 30 days. Also, as per Thai government rules, few words are prohibited as a part of a company name.
- Filing of Memorandum of Association– Once the company name gets approved, the Memorandum of Association needs to be filed with the Business Development office or Commercial Registration Department.
- A Statutory Meeting to be convened– Once the company name gets approved and the Memorandum of Association is filed, a statutory meeting is held where articles of incorporation and bylaws are discussed and approved. Before this meeting is held, the share structure also needs to be defined.
- Company Registration– Company registration application needs to be submitted, within 3 months of the statutory meeting, by the directors.
- Tax Registration– A tax ID card and a number for the company from Revenue department needs to be collected for businesses liable for income tax, within 60 days of the start of operation of the company.