Thailand is currently enjoying continuous economic progress and growth due to the good government policies, sufficient infrastructure and efficient workforce supporting businesses. The government has already put policies and measures in place to simplify the process of registering businesses in Thailand. As a matter of fact, Thailand is considered as one of the best places to register a company in Asia because of the simplicity of the registration process and few requirements. There are no unnecessary requirements that usually end up frustrating potential company owners. It is imperative to note that the process of registering a company in Thailand mainly depends on the type of company you intend to start. Here, you will know and learn the different types of companies and their corresponding registration requirements and procedures.
• The process of registering PLC’s or also known as private limited companies in Thailand is similar to the process of registering western corporations. If you want to register a private company in Thailand, you need to go through the process of registering and formulating the Memorandum of Association, By-laws of the company and constitutive documents. It is important to note that you need a minimum of seven shareholders to register a private company in Thailand. It is also imperative to note that the company can be owned wholly by aliens in which case participation will be allowed only up to 49%.
The registration fee required to set up or form a private company in Thailand is 5,500 baht/million baht capital. In Thailand, the process of registering public limited companies is subject to complying with debentures, public warrants, approval, offer shares and the prospectus among other requirements. MOA registration and formulation for a public company in Thailand requires at least 15 promoters who have to be shareholders for at least two years. The public company’s board of directors must be 5 or more. Half of the directors have to be Thai nationals. The total registration fees required to set up a public company in Thailand is 2,000 baht/million baht capital.
• Joint Venture Companies- A joint venture company is simply a company formed by a group of people including locals and foreigners who enter into an agreement to form any type of company and do business together. In Thailand, joint venture companies are usually formed in a similar manner to normal companies. The process many however very depending on the shareholders, for example Thai government and Thai nationals. For instance, Thai nationals usually form private joint ventures which are similar to forming Private Limited Companies. It is important to note that the formation of joint venture companies varies in a number of ways in Thailand. For example, joint ventures are not recognized as legal entities under the civil and commercial law in Thailand. It is however important to note that the income generated from joint ventures is subject to corporate taxation under Thailand revenue code.
If you want to gather valuable information about Thailand company registration, browsing the web or conducting a research can be a great help.
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