Company Registration in Thailand - Requirements and Process
To begin the process of Company Registration in Thailand, an applicant must submit an application to the Department of Business Development. The application must meet certain requirements, including the word "limited" in the company name. In addition, the applicant must select three names and rank them in order of preference. The name chosen must be easy to say and pronounce. Once approved, the company would be registered. The reserved name is valid for thirty days.
Company registration in Thailand
For expats, company registration in Thailand is relatively straightforward, as there are a few things you need to know. First, you may have to provide proof of your financial capacity and that of your Thai partners. To avoid this, hire a lawyer to assist you with the registration process. Next, you may need to register for VAT, line-of-business licenses, and other licenses necessary for your company to do business in Thailand. The number of licenses you need depends on the type of business you are planning to operate. A VAT license will be required if your company generates over 1.8 million baht in annual revenue.
Minimum capital requirement for a limited company in Thailand
To establish a limited company in Thailand, foreign businesses must bring in THB 3 million in capital, which is the equivalent to 25% of the estimated operating expenses for the first three years of business. This amount must be remitted to Thailand within three years. Businesses must establish in Thailand after August 28, 2019.
Required documents for company registration in Thailand
Before registering a company in Thailand, the company must fill out the application for a limited company. This requires information on the registered capital and number of shares owned by the company's directors. Other information required for the application includes names of directors, occupations, addresses, and number of directors with binding signatures. The address of the company's head office and any branches should also be provided. The government requires THB 5,500 to register a limited company in Thailand.
Required bank letter for company registration in Thailand
Before registering a company in Thailand, make sure you have enough capital. The minimum capital required is THBh.5 million (approximately $14,000). If you have fewer than three shareholders, you must have a minimum of THBh.2 million of registered capital in order to register your company. A bank letter of certification from your financial institution will help the company register. Once you have the capital, you will need to present the name, occupation, and address of the company signatory person. In addition, you will also need to sign the company's registration document in the bank.
Cost of company registration in Thailand
If you're thinking of registering a new business in Thailand, you might be wondering how much it costs to register a company in the country. There are several important costs involved with the process. The first step is filing a memorandum of association, which details the name of the company, the promoters, the place and time of incorporation, and the company's financial and business objectives. Next, you'll need to call a statutory meeting to elect the board of directors and appoint an auditor. After the meeting, you'll need to obtain your company's tax documents, and a license from the relevant authorities.