Starting a new business in Thailand

Mon, 05/23/2016 - 12:27 -- tilalegaladmin

If you are thinking about establishing an exclusive Thailand branch of your already existing company or starting a new business in this country, there are several factors and decisions to consider most especially if you wish to push through in accordance with the company law in Thailand.

You will also need to decide on the form of business entity that you wish to establish and operate. In Thailand, businesses can either be structured as private limited companies, sole proprietorship, private limited, partnerships and more. Though there are lots of business consultant services offering company registration services in Thailand it still pays to take advice from expert and licensed lawyer.

Keep in mind that there are many different laws that might affect your company in Thailand and even abroad. Simply filling out forms without the knowledge of application of law can result to serious problems and complications.

Registering a Company in Thailand-Know the Right Process

There are steps to follow when registering a company in Thailand and these are as follows:

First Step of Company Registration Thailand

  • Name Reservation

All businesses naturally require a good name so you must secure the desired name for your company together with two alternative names. These will then be submitted to the Ministry of Commerce in Thailand for verification. If the name desired failed to meet the set requirements, the alternative names will be assessed. This step usually takes 2 to 3 days to complete.

Second Step

  • File a Memorandum of Association or MOA

Once the name of your company has been successfully reserved, all the shareholders should sign a MOA. This is a particular document providing personal information, contact details, names and more. Once signed by the shareholders, this will then be submitted to the Ministry of Commerce. Once this step in company registration Thailand is processed and completed, the Thailand Ministry of Commerce will issue certification, company affidavit, and articles of association and list of the shareholders.

Third Step

  • VAT And Tax Registration

All the documents associated with company registration VAT Certificate and TAX ID Card must be properly submitted to Central Filing Office of Revenue Department. Also part of the step in obtaining VAT Certificate is obtaining permission of landowner in case your company does not own the land.

Fourth Step

  • Opening A Corporate Bank Account In  Thailand With Reliable Internet Banking

Once the company registration Thailand is successfully completed, you might want to consider opening a corporate ban account in this country. Legal experts can help you prepare all the required documents and open an account on your behalf however, company directors should be present.

Fifth Step

  • Applying for Work Permit in Thailand

This is the final step in company registration Thailand. You need to obtain a work permit in Thailand and in order to do this, you first need to have non-immigrant visa.

If setting up a business in Thailand is your aim, you need to be guided accordingly. Follow the right steps in company registration Thailand and you are guaranteed to have a smooth and legit business operation.

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