Business Registration in Thailand
Thailand’s growing economy can be attributed to its good tourism. As the country attracts a lot of foreign visitors everyday, the raise of market demands come along, which investors see as a good business potential. As a result, locals and foreign investors would want to open a business in Thailand.
To register a company, first, you have to identify what type of business organization you would like to establish. Generally there are 3 types: Thai Partnership, Thai Representative Office and Thai Limited Company.
This type of company requires to have a minimum of 2 persons as an owner. They are joint partners who share unlimited liability for all the company’s obligations. Each partner must agree and gives consent to the partnership. Each partner is held jointly and liable for debts and taxes of the partnership.
This can be further classified and indicated as Limited Partnership and requires to be registered, wherein liability are limited, as oppose to whose liability are jointly and unlimited.
Thai Representative Office
This type needs securing a Foreign Business License. For your business to qualify under this type, it must adhere and delimit to the following purpose:
The business is to source goods or services in Thailand for the headquarters.
To check the product ordered by the headquarters overseas
To give advices to the headquarters about the goods to order
To supply the information of the headquarters’ products to the customers in Thailand
To report the economic movement in Thailand to the headquarters
To open a Representative Office in Thailand, seek the assistance of our Siam Legal International lawyers.
Thai Limited Company
This business structure is the most popular because it is the most liable. With Thai Limited Company, the capital is divided into equal shares. The liability of a shareholder is limited to the amount of his shares.
The process of registering a Thai Limited Company includes:
proposed company name
The Memorandum of Association
convene a statutory meeting
Obtain a company income tax identity card
For the best legal service, tax advice and accounting service, it is best to contact a law firm.
Siam Legal International has licensed Thai and foreign lawyers to assist you with your company registration.