The process of company registration in Thailand

Let’s talk about the process of company registration in Thailand. Thailand Law gives numerous forms of business organizations. The regulations that control establishing a business in Thailand are found in Thailand Civil & Commercial Code. The most typically used kinds of business registrations in Thailand take on these forms:

  • Thailand Sole Proprietorship – a sole proprietorship is the solo-owned business by a natural person. Thailand sole proprietorship has been restricted to all international nationals that live in Thailand.
  • Thailand Partnership – Thailand partnerships are the contracts for the organization of 2 or more individuals engaged in the business venture wherein the losses and profits are proportionally shared. There are various forms of business partnerships in Thailand and the legal liabilities attached to partners differ in various kinds of partnerships though the general rules that govern all types of Thailand partnerships are the same.
  • Unregistered Ordinary Partnership – the business partners within the ordinary partnership are equally responsible for all debts and obligations of the partnerships. This type of partnership isn’t needed to register with Thai Commercial Registration Office so the partnership would be taxed at the cost applicable to all individual partners.
  • Registered Ordinary Partnership – a registered ordinary partnership has been registered with Thai Commercial Registration Office. This form of partnership was taxed as a juristic individual. The registered ordinary partnership is obliged by the law of Thailand to send yearly financial report then pay the corporate income taxes. On the other hand, incomes might be reported as well on individual partner’s tax return.
  • Limited Partnership – a limited partnership is obliged to get registered with Thai Commercial Registration Office. Limited partnership is taxed as a juristic person and is obliged to send a financial report each 12 months. The partners in the limited partnership is categorized into 2:
    • General partners – this form of partners in the limited partnership are the financers. The general partners are responsible for financial obligations of the partnerships and they have complete authority to supervise the business.
    • Limited partners – a liability of limited partner is restricted to the amount of cash or valuable assets that has been invested in the company. A limited partner does not need the authority to handle the business.
  • Thailand Limited Companies – limited companies are possibly the most typically used business structure in Thailand specifically for non-Thais. The limited private corporations in Thailand are needed to register the Memorandum of Association & Articles of Association. Limited private companies in the country should have at least three shareholders. A limited private company with non-Thai national with over 49 percent of shares of the business is typically subject to the limitations of the Foreign Business Act.

  • The promoters should have these qualifications:

    • Be an ordinary person, not a juristic person
    • Be at least 12 years of age
    • Should reserve to purchase at least one share

One of the promoters of the company should reserve the name of the company to be established. When the name has been approved and accepted, the company should be registered in 30 days.

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