Trading Company in Thailand
Thailand has always been a country that emphasis more on trade and exports many products both in Asian regions and European Union. Thailand also exports to other parts of the world. This country has a long history of trading which makes it focus on more key products for export and trade. The benefits of a trading company in Thailand makes more demand for foreign entrepreneurs or investors to register a trading company in Thailand.
To register trading company in Thailand, it is important to register with the Trade Register in Thailand. We here at S&F Consulting firm are experts in foreign company registration. We provide the best consultancy for your new business.
What is Trading Company in Thailand
Thailand is one of the leaders when it comes to the producers of rubber, sugar, cotton, or tobacco. It has a huge fishing industry as well. This allowed the country to be one of the biggest exporters of seafood. In Thailand, before you start your export-import business it is necessary to register your company with the custom institution in Thailand. For legally starting your business in Thailand you must register for VAT and open a bank account in Thailand.
Opening a Trading Company in Thailand
For legally doing business in Thailand, you must register your company. Register for VAT and you must open a bank account in Thailand. After this initial step, you must know what permits let you export and import goods. Get the permit for export-import business from the Department of Foreign Trade in Thailand. They oversee the licenses and permits you will need for doing business in Thailand. The Foreign Business Act lets a foreigner to register an import-export company in Thailand without restrictions for many goods.
There are different governing bodies for different types of goods you want to export or import. Department of Foreign Trade in Thailand oversees goods like vehicles, printing machines, or clothes. The Food and Drug Administration oversees licenses that lets you export or import goods like pharmaceuticals, legal substances, or drugs. The Ministry of Finance in Thailand oversees the export or import of gold. You must have a good idea of the permits you will need for a trading company in Thailand.
Steps of Registration of Trading Company in Thailand
If you want to do business legally in Thailand, you must prepare the necessary documents required by the authorities in Thailand. The KSK1 application form, bank account details, registration seal, affidavit, VAT certificate, and the power of attorney, these are the main documents required to open a trading company in Thailand. There is a special license that is necessary if you want to import tobacco, alcohol, and pharmaceuticals.
The steps of registration are provided below
- You must reserve the name you want your company to have. It must be unique.
- Preparing the company memorandum is the next step. Business name, scope of business, and the name of founders are inside the Memorandum of Association.
- You must sign the articles.
- Go to the company registry to get your company. This is the main step of Trading Company in Thailand registration.
- Within 60 days of registration, you must register your tax and VAT.
- The final step will be to get the necessary permits for your category of goods you want to export or import.
- Trading Companies in Thailand
During the registration process, you must keep in mind that you need to choose at least 3 names before. This is advised because your primary name may be unavailable. In that case, your secondary names may be used. Foreign Business Act states that foreigners are not allowed to trade artistic objects or antiques that are created by Thai handicrafts or artistic works.
A trading company in Thailand can bring a lot of revenue if you know the ways of importing or exporting profitable goods. Knowing the ways of registration will help you set up your new trading company in Thailand. Registering company is somewhat the same in most countries. Follow the steps provided in this article to get your company registered in Thailand.
Frequently Asked Questions
Export-Import business is called the trading company in Thailand.
You must register your trading company with the Trade Register in Thailand.
You must register your trading company with the customs institute in Thailand. Then you must register for VAT and open a bank account in Thailand.
There are certain governing bodies for certain categories of products. For example, if you wish to export or import goods like cars, clothes, etc. you must register with the Department of Foreign Trade in Thailand or if you want to export or import gold in Thailand then you must register with the Ministry of Finance in Thailand.
Yes, a permit is a must for a trading company in Thailand. The type of permit will depend on the type of goods you want to trade. There are different governing bodies for different types of goods for export or import in Thailand.
Yes, special licenses are required for products like alcohol, tobacco, and pharmaceuticals.
It is always advised to prepare at least 3 names for your company. Your primary name might be unavailable. In that case, your secondary name will be used to register your trading company.
After successful registration of your trading company, you must register for tax and VAT within 60 days of incorporation in Thailand.