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Setting Up a Business in Thailand

Jun 12

If you are thinking of setting up a business in Thailand, there are some important steps that you must take. Before you begin, you must register your company in Thailand. To do this, you need to have a valid Thai business license and a copy of your company's incorporation document. You must also pay a registration fee of 2,000 Baht per million baht of capital. Listed below are some of the most important steps to take.

 

Company Registration in Thailand

If you are planning to run your business in Thailand, you may want to consider Company Registration in Bangkok. There are several requirements involved in this process. Firstly, you must have a physical address in Thailand. Next, you need to hold an annual general meeting in Thailand. The director of the company is responsible for arranging the meeting. This meeting must approve the company's audited financial statement within 4 months after its fiscal year ends. Your business activities must follow accounting procedures. You should have your documents translated into Thai and registered with the Revenue Department. Finally, you will need to acquire a tax identification number and corporate tax identity card.

To obtain Company Registration in Thailand, you need to establish a company in Thailand. This is a legal requirement. You must present a Thai-registered bank account in order to conduct business in Thailand. This bank account will be your company's legal name and it will need a physical address for the registration office. You will need to present a signed document from a director or shareholder of the company. Then, you must show the document to a Thai lawyer.

 

Company Registration Procedures in Thailand

When you are planning to set up a business in Thailand, you should be aware of the Company Registration Procedures. The registration process for a company begins with a memorandum of association (MOA). This document should include the name of the company, the names of the promoters, location, finance, and business objectives. A statutory meeting is held, during which the board of directors is elected and an auditor is appointed. The company must obtain tax documents within 60 days of incorporation.

The most common form of business registration in Thailand is the Limited Company. It is essential for the promoters of a company to hold at least one share. Later, they can sell their shares to others. However, this requirement is peculiar to the Thai legal system and is not required in any other country. After the shareholders are appointed, the promoters must come up with three possible names for the company. The names must not be already in use or unsuitable.

A corporate bank account is required for a company in Thailand. In many cases, Thai banks only offer corporate accounts, which are not accessible with an ATM card. The company must obtain a withdrawal slip with a signature to pay its clients or to transfer the funds from the bank to the company. However, digital business accounts may be easier and more convenient for the company. The Bank of Thailand's Department of Business Development website provides a list of the necessary forms.