Planning to setup a business in Thailand? If you have decided to plunge into the trade industry, you need to determine the basic procedures of company registration in Bangkok, Thailand. Like in other countries, there are necessary steps to be taken into consideration in order to successfully complete the company registration process. Below are the basic procedures you need to consider.
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1) Company name reservation online
The prospective entrepreneur must check the availability of the company name through the Department of Business Development’s website at www.dbd.go.th. The reservation in person is no longer available since 14 January 2014, thus one should visit the abovementioned website for this process. This online procedure normally takes less than one day with no associated fees.
2) Deposit capital in bank
The company holds a statutory meeting when the company gets the approval for the memorandum. The business promoters need to give at least 25% payment of the registered capital. This usually takes one day with no accompanying payments.
3) Get a corporate seal
A corporate seal is only provided on the affixation on company share certificates. You can purchase the corporate seal for THB 400 and the urgent order cost is THB 700 to 800. The entire step may take approximately four days with the abovementioned cost.
4) Acquire approval for memorandum of association, apply to register the company as a legal entity and submit company work regulations
The Department of Business Development opened its one stop shop, called the Single Point Service Center. In the center, the entrepreneur can register for social security and other necessary compensation funds. The department is the one responsible in receiving the work regulations and forwarding to the Office of Labor Protection and Welfare of the Ministry of Labor. In the case of an employer having ten or more employees, the entrepreneur must provide written work rules and regulations translated into Thai language. These regulations must coincide with the amendments of the Labor Protection Act B.E. 2541. This process normally takes two to four weeks. The associated fees for this step are THB 750 for the registration of the memorandum of association, THB 500 minimum and THB 25,000 maximum for government fees. This will increase THB 50 every THB 100,000 of initial capital and additional THB 7,500 for the company registration.
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