Company Registration Thailand
The unmatched economic growth in Thailand in the recent years has undeniably drawn attention and interest of lots of foreign investors from many different countries. Each county wants to strike a big fortune by opening up a company in Thailand.
The sufficient infrastructure, strong support from the government as well as the cost-effective and productive workforce makes numerous foreign investors convinced to start a company or business in this country. Well-defined and detailed business policies promoting free trade and political and social standing of the country including its favorable location in the continent of Asia helps in the certain prosperity of businesses.
Registering a Company in Thailand
Company registration Thailand can sometimes be a long process for this involves things like obtaining work permits and many other factors depending on the business or company you wanted to set up. Prior to opting for a company registration Thailand, you first need to be sure about the type of business or company you wanted to set up.
Company registration Thailand is actually open for different types of companies such as Thai limited company, partnership and representative office. The typical partnership in Thailand pertains to the business setup exclusively owned by joint partners who share unlimited liability for the entire obligations of the company.
Every partner is personally and jointly liable for taxes and debts of partnerships. Another form is the Thai representative and limited partnership which are almost the same as the typical Thai partnership. All registration procedures, required documents and forms are in Thai therefore, company registration Thailand requires a competent lawyer capable of communicating in Thai.
The Overall Procedure of Company Registration Thailand
The entire procedure of company registration is being carried in few important steps. Application for permission for utilizing a chosen company name either through website or registering at the Department’s registrar are just few of the many steps to take in company registration Thailand. The paid in capital must be deposited on the bank together with shareholder’s paying at least about 25% of the registered capital. Getting a corporate seal is the only requirement to affix the share certificates of the company.
Obtaining approval for the memorandum of association for the company and applying for registration to make the company a legit entity. Application made to obtain the Memorandum of Association or MOA registered must contain essential information like company names, par value and number of shares, address, nature of business and more.
Company works are submitted into the Ministry of Labor and Office of Labor Protection and Welfare on the same district where the head office of the company is situated. In company registration Thailand, company works are verified by Office of Labor Protection and Welfare prior to granting final permission for company set up.
Time required for company registration in Thailand can vary from 2 or 4 weeks and even up to months depending on series of factors and different procedure levels. If you wish to proceed, you need to consider the guidance of prescribed guidelines and rules laid down by Thailand. This helps in making the procedure of company registration Thailand easier.
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