The Wharton school of the University of Pennsylvania has ranked Thailand’s 1st country for attracting investment over the last 3 years continuously. Moreover, it is the main attraction for tourists as well. Thailand is full of potential if you are strong and have a full proof business plan. You just require patience and open mindedness while working in Thailand, enough to welcome their mentality as well as their culture. Keep in mind that Thailand will have TBH 50 over the million Baht of investments in case of a private company and you require at least 7 shareholders for starting any type of private company there. The civil and commercial codes of rules are applied to all the private companies.
Thailand is restricted in bestowing 100% ownerships and most private companies need 51 % local shares to get started there. Language Barrier is one of the biggest issues requiring attention as all the documents must be in Thai and you cannot do it without any help.
Steps of LLC Registration
In Thailand, a limited company is more like a private company in which a shareholder will be liable or having the command over his own share only. The rules and privileges are written in the Articles of Association so everyone has a clear cut idea of their zone.
You need at least 3 shareholders for a limited type of private company, one of which will be director. The shareholders can be then made preferred and ordinary. They have the right to vote as per the 49% of their share. Every foreigner should invest at least 2 M THB. The director can be a foreigner too but then he also needs a work permit.
Then begin with the registration of the name. The name of your LLC should be according to the rules and should not match with any already registered company. Moreover there are some words like investment that are prohibited to use but you can use the word Capital in its place and the name should end with the word limited. Propose 3 names with priority check and as it will be registered in Thai Limited company, make it easy and acceptable to use for a variety of customers. Make a reservation of company name that will remain valid for 100 days and then you are required to register but 25% of the total investment should be deposited in the corporate bank first.
Convene a statutory meeting with the director being selected and agents finalized.
You need to submit documents which include the article of Association as well as the Memorandum of association ( MOA). This MOA consists of the complete address of the office, as well as the total capital along with the percentage of their shareholders. Moreover it includes the scope of the business and the activity you will be carrying out. You need to submit an application for registration of your LLC and that should be attached with the list of the documents mentioned above. After getting all the documents, submit it to the Commercial Registration with the department of Business Development of the Ministry of Commerce. Then you have to apply for Tax and VAT registration.
After that you will need a company chop that will cost from 400 to 800 TBH, this will act as a stamp for signing all your documents for the business.
If shares are owned by foreigners then you need to get a Foreign Business License in order to operate your company.
Cost of LLC Registration
It is 5 baht per shareholder. So it will be a minimum of 15 baht.
Duration of LLC Registration
It may usually take a week or even more than that. It takes more than 2or 3 weeks to get a FBL.
Advantages of LLC Registration in Thailand as foreigner
- LLC in Thai is a standalone company. You can own all your profit.
- You can get exemption from the 49 % foreigner limit if you have a FBL.
- You can open business in any area and then compete where you want.
- Taxes are also with some exemptions for some specific business types.
- You can get a business visa while being a shareholder, and if you hold a FBL, you can have citizenship too.
- You can have citizenship if you have 100 % ownership of the company
- The business is thriving with the oversea marketplace and less taxation on imported goods
- Resident Visa for the Directors
- You have to take an immigrant visa or business visa that costs TBH 2000 for a single entry and remain valid for 3 years and if you pay TBH 5000 then you can have a visa for 1 year with multiple entry times.
Advantages of Local Sponsor
You need a local sponsor to set up a Thai company as it will let you have an easy registration as well as working.
Why choose us?
As the language is the main barrier in this registration process, we will be there to help you to smooth this process as much as we can for you. We are here for you anytime, and we offer a quick service and our employees are much active to help you with any issue you face with. You can connect via Skype or WhatsApp or in line call.
We have access and knowledge of the main sectors of business around the whole globe. We can better guide you about foreign markets as well as the facilities of free zone areas and legal issues you will have to face. We can guide you about import rules and banking policies well. We not only help with the registration process and guidance but also help you get a sponsor as well. We have the best advisory related to the financial issues as well as accounting problems. We have the knowledge of income taxes and will lead to the right path if you entrust us. An experience of 8 years in the audit helping too and we strive to satisfy our client till the end.
The best of it is that you can get all the facilities at low cost and special services for free if you are an investor. Moreover we guarantee quality work against your payment and we have representatives around the globe. Trust us to serve you.
It takes 2 or 3 weeks and sometimes it might be 4 weeks.
Expected cost in BAHT 200,000 depends on the number of work permits and capital.
My answer is NO; it is restricted for the foreign nationals.
It is easier to apply and obtain a work permit as law.
Yes, foreigners can hold 100% shares, but not always as a local partner is required sometimes.
If you want to know Company Registration Fee In Thailand may contact us.
Our services are: (1) Company registration in Thailand (2) Accounting and audit (3) Income-tax (4) Financial advisory (5) Company Secretarial (6) Virtual office rent in Thailand