Register a Company in Thailand is pretty straight forward. If you have real intentions of doing business in Thailand, then it won’t take much time to register your company. Thailand is the 2nd largest economy in Southeast Asia, therefore doing business in Thailand is not a bad idea. Over the past 8-10 years, foreigners company registration has increased dramatically in Thailand. The foreign-owned enterprise now plays a crucial role in Thailand’s growing economy. The Thai government is working effortlessly to attract more foreign direct investment.
Because of increasing market demand, strong government support, cost-effective workforce, and developed business infrastructure, most of the foreign investors are flocking to Thailand for business purpose. To establish a Thai legal company, you need to understand the necessary process of company registration. These are the type of business structure foreigner can register in Thailand—
- Thai Limited Company
- Thai Partnership/ Limited Thai Partnership
- Thai Representative Office or branch office
Registering a limited company in Thailand
A private limited company is one of the most popular forms of business in Thailand. To register a limited company, it requires a minimum of three shareholders and one director. However, a private limited company must hold at least 51% share (except for US citizen) to register their company. The incorporation of a Private Limited Company requires –
- A minimum number of three Thai nominees.
- At least one director
- An auditor
- A memorandum of association
- Statutory meeting
- Registration of the incorporation papers
- Obtain an income Tax registration I.D. number.
The reregistered company must follow the accounting procedure that is specified in the Revenue code and Accounting Act. Registered companies are also required to hire an auditor who will audit their financial statements once a year. The auditor must submit audit reports to the Revenue Department.
Procedure of Registration
The procedure of company registration is almost same for all business (expect requirements). The steps of company registration include –
- Company name search
- Registration of the company name.
- Prepare and submission of Memorandum of Association.
- Prepare and submission of Article of Association.
- Fixing a Statutory Meeting
- Submission of necessary documents for company registration
- Registering for VAT or Tax.
Registration of Thai Partnership Company
There are mainly two types of Partnership in Thailand 1. Ordinary Partnership, and 2. Limited Partnership. Registration of a Thai partnership company requires a minimum of 2 people. Both partners are joint partners who can share unlimited liability for all the Partnership’s obligations. Registration of ordinary partnership company is not mandatory. But the partner can register the company if they wish to. Without the consent of all partners, no one can become a member of the Thai partnership company.
Unlike ordinary partnership company, a limited partnership company requires registration. According to foreign business act, foreigners are restricted to operate a partnership. In a limited partnership company, the liability of a partner is limited while the other partner is unlimited.
Read Also: New Company Registration Fee in Thailand
Thai Representative Office or Branch Office
Thai government permits the foreign company to establish a representative office in their country. However, international company cannot perform any earning related activities. Following are the activities representative office is restricted to conduct:
- Searching for a local source of goods for sending to its head office.
- Reporting about local business activities to its head office.
- Promoting the business of the mother company.
- Passing information of any new product or service to the parent company.
Documents Requirements to Register a Representative Office
- Name of the representative office
- Nationality, age, the gender of company director
- Address of the registered office.
- Total number of shareholders
- The total amount of paid-up capital.
(Note: all the documents must be notarized by the notary public before you can submit it to the Commercial Register)
Once the company is registered now, you are required to apply for a Tax ID. The initial government fess is 2,000 THB. Once the application is approved, you are required to pay 5 THB for per 1000 THB paid up capital. However, the minimum government fees 20000 THB and maximum is 250000 THB.
Starting a business in Thailand will take you at least four weeks to complete the process. It is mainly due to the preparation of documentation. All required documents need to be prepared in native Thai language.
If you are dreaming of starting a business in Thailand, then we could help you out to register a company for you, we can help you register any Thai limited company in just two weeks. Our price for registering a company is comparatively cheaper than others. You can also register a Thai company from aboard. We will send you all the documents that are needed to be signed.
FAQ – Frequently Asked Question
Q: Who is the responsible governing body for company registration in Thailand?
- Thailand Ministry of Commerce is the responsible governing body for registering company.
Q: who much time it takes to register a company in Thailand?
- It usually takes 2 to 3 weeks to register a company in Thailand.
Q: How much time it will take to register for vat and tax in Thailand?
- It will take just two days to register a company in Thailand.