Register a Private Ltd Company in Thailand in just a few steps
In today’s time, the majority around the world are investing their money in setting up their own business instead of doing employment in some company. Are you one among them? If yes, then you got to read this.
Starting a business could be a difficult task; so you need to have answers prepared for various queries like what business to start? Where to set up? How much investment is required, and so on.
In this article, we are particularly focusing on the incorporation of a private company (a legally formed structure) by foreign investors in the Kingdom of Thailand by highlighting all the mandatory necessities and details that investors ought to take into consideration.
The nature of register a private limited company in Thailand may be a bit different than that of other western countries. Hence, the investors of the company need to plan very well otherwise it will consume a lot of their time and money.
To save some time and energy of yours, we provide you with all the formalities that ought to be accomplished so as to register a private limited company in Thailand:
Register a unique name for your company with the Department of Business Development of the Ministry of Commerce. You are allowed to reserve three names in the case one name is already registered.
Once your company name has been registered, you need to file a Memorandum of Association (MOA) at the Commercial Registration Department within 30 days of approval. It should mention all the vital details regarding your company and you.
The next vital step you need take is to attend a statutory meeting with the Board of Directors also known as the “paper meeting.”
Within three months from the date of the statutory meeting, the investors are required to submit the registration form along with its fee (500 baht per 100,000 baht of registered capital) as the final establishment procedure of their private company.
Once your company has been incorporated, you need to obtain a tax ID number and card from the Revenue Department within 60 days.
In this course of time, if your business reaches the sales mark of 1.8 million then don’t forget to register your company under the VAT category within 30 days.
- Under the Treaty of Amity, a US investor can set up a 100% owned private company with the same formalities but for two differences. 1) The minimum capital required is 3,000,000 THB and 2) they need to register their company with the Ministry of Commerce as US Amity protected.
- In order to apply for a work permit through the company, this company must have a paid-up Registered Capital of at least 2,000,000 Baht as well employing 4 Thai employees. Please be inform that if you are married to a Thai national, the registered capital will be reduced down to 1 million Baht in registered capital.
All the official corporate documents and formalities are written and done in Thai language, so it is best advised to seek help from a Thai legal agent or firm.Tags : doing business in Thailand, how to register limited company in thailand, how to start limited company thailand, Private Limited Company Registration in Thailand, Register private limited company Thailand, setting up business in Thailand, start business in Thailand,