You Want to Dissolve Your Company in Thailand with BOI Status? Know How

There is this Managing Director of a renowned BOI promoted company in Thailand who wrote to me asking about the company dissolution process in Thailand. And this mail was followed by a few others. You might think why people are looking to dissolve their Thai companies. Apparently, the reasons are completely personal. But for those who are much motivated to open up a company in Thailand, they might suddenly consider giving a second thought. Well, there’s nothing to fret. In a business ecosystem, this is a very common scenario. And for your soul’s satisfaction let me tell you that while I receive one to five emails for dissolution, my inbox gets loaded with over thirty emails every day, inquiring about how to start up a business in Thailand?.

Dissolution Company in Thailand, Closing Company in Thailand, liquidation of company Thailand

If you too want to dissolve your BOI Company in Thailand, then make sure you have these documents ready;

  1. Company’s Detail:
  • Certificate of incorporation
  • Registration documents, including an affidavit, MOA, and shareholders list, etc.
  1. Company Registered under the VAT System:
  • Por. Por. 01 (Vat Registration)
  • Por. Por. 09 (Vat Amendment)
  • Por. Por. 20 (VAT certificate)
  1. Documents concerning the BOI:
  • BOI application
  • BOI’s pre-approval
  • BOI Certificate
  • BOI progress report of past 6 months or 1 year
  • E-Expert username and password
  • Rights and Benefits the company had to utilize
  1. Monthly Accounting Filing (in that year)
  • Por.Por. 30, 36 (from January to December)
  • PND 1, 3, 53 (from January to December)
  • Social Funds filing (from January to December)
  • Half Yearly Report (also known as PND.51)
  1. Financial Records
  • Sales Tax Report
  • Purchase Tax Report
  • Payment vouchers & receipts
  • For receiving
  • For paying
  • Withholding Tax slip(s) received from your client(s)
  • Bank Statement (from January to December)
  • Loan Agreement (if any)

As for the procedure, it is explained in the below-mentioned steps;

Register Your Company’s Dissolution

A meeting with the shareholders needs to be arranged to inform them about your planning of the company’s dissolution. And during that you must ensure at least 3/4th of shareholder’s vote, supporting your decision. Once the first meeting is successfully accomplished, a second meeting should be held in order to affirm the resolution as well as appoint the liquidator.

The liquidator must gather the company’s assets, request for the unpaid amount of the shares, settle the obligation to the creditors of the company, sell the assets and compensate the reserve alongside the expenses to the director. If the assets are not sufficient to settle the debt, then the liquidator should request for an order to the court confirming company’s bankruptcy.

Registering the Liquidation

As soon as the liquidation is completed, the professional should hold the shareholders’ meeting again so as to approve the liquidation result. Within 14 days upon the resolution, the liquidator will have to proceed with the second step of registering the liquidation. And once it is done, the company will be dissolved.

Tags : Close BOI Company, Closing Company Thailand, Dissolution Company in Thailand, Dissolution of Company Thailand, Dissolution Thai BOI company, Dissolution Thai Limited Company, Liquidation of Company Thailand, windup company Thailand,
Write a comment:

*

Your email address will not be published.

KONRAD LEGAL COMPANY LIMITED
2 Pacific Place, 21 St Floor 2107, 142 Sukhumvit Road, Khlong Toei, Bangkok 10110
Phone: +66 2626-0277
Top