Open a Branch Office in Thailand!
Recently, my inbox is full with inquiries about open a branch office in Thailand. And most of them are from multinational companies. While it gives me the joy to learn that so many entrepreneurs, both established and aspiring, are showing interests in Thailand’s business ecosystem, it equally laden me with a sense of responsibility to answer their queries. So, here is to those who are willing to set up a branch office in Thailand.
Before anything, you must know that the branch office is controlled by the Foreign Business Act (FBA), Act B.E. 2542. Therefore, your branch office must have a Foreign Business License. The branches offices here work same as any other limited companies; just that they do not need to have shareholders or promoters as they are not registered companies. This kind of business has its advantages. The biggest of all is that there is no requirement for a local shareholder.
Documents for Opening a Branch Office in Thailand
Note, in order to open a branch office here, you must submit the documents of your parent company. And the list includes;
- Memorandum of Incorporation;
- Manager’s Affidavit that states the below-mentioned:
- Name of the corporation and its registration date and number;
- Registered address of the office;
- Directors’ information, such as name, address, nationality, race, and age;
- Number of shares held by the directors;
- Authorized capital stock of the company, the number of shares alongside its par value;
- Amount of the paid-up capital stock of the corporation;
- A total number of shareholders along with their number of shares.
- Article of Association
These need to be notarized by the local Thai Embassy. Also, they must be submitted to the Commercial Registrar. However, to prepare the documents and to complete the legal procedure of registering the branch office in Thailand, Konrad Legal may come to your help.
Some More Requisites…
To derive an Alien Business License for the branch the foreign corporation, you must ensure transfer of 5 million baht into Thailand at proper intervals for a period of four years. Similarly, you should register for VAT and request a tax ID card as well as a Commercial Registration Certificate.Tags : branch office set up thailand, open branch office Thailand, register branch office in Thailand, start branch office thailand,