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A private limited company is the most common business structure foreign investors choose to establish. However, before setting up a private limited company in Thailand, you must complete several steps and requirements. The name you can choose for your company must not be identical to or resemble the name of a pre-existing registered partnership or company.
Certain terms are also prohibited from being used in company names. For example, the term investment cannot be used, but capital can be used. The company name must end with the word Limited. It is recommended to reserve three names ranked by priority to maximise the chances of your success. The company name will be registered in Thai, even if its name is in English.
Do not propose a name that is lengthy of difficult for non-English speakers. The name of your business can be different from the company name. Once the name is approved, the name will be valid for 30 days, and no extension is permitted.
Within this period of time, step two must be completed. The resolutions of the Statutory Meeting will not be valid unless passed by a majority, including at least one half of the total of subscribers entitled to vote. The application can be lodged at the Ministry of Commerce on the same day that the memorandum of association is registered, provided that the Statutory Meeting has already been convened.
The registration application must be lodged no later than three months from the date of the Statutory Meeting, or you will need to provide an explanation for the delay. The company director will also need to a statement attesting that each shareholder has paid their share subscription. Once your company has been registered and within 60 days of incorporation or the commencement of operations, you will need to apply for and obtain a company corporate tax ID card from the Revenue Department.
If your company has a turnover of more than THB 1. A company that has one or more employees must register at the Social Security Office within 30 days of hiring its first employee. Foreigners who are legally working in Thailand must also register with the Social Security Office and are entitled to the same benefits as Thai employees.
If the registration is Setting up a thai company made within the specified time, the employer will be liable to imprisonment of not exceeding six months or a fine of not more than THB 20, or both. Contributions must be submitted to the Social Security Office within the 15th of the following month. Foreign investors have several business structures they can choose if interested in setting up a business in Thailand. Contact Acclime to guide you through the steps of registering a company in Thailand hassle-free. Get in touch with us. HR outsourcing. Entrepreneurs Established foreign businesses.
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Home Guides Formation. Posted in Formation. Last updated: April 27, Start reading. Share this article. Contents What is a private limited company in Thailand? Can foreigners set up a private limited company? What are the benefits of a private limited company?
Requirements for setting up Steps of registering a private limited company. This guide takes you through the steps of how to register a company in Thailand. Steps of registering a private limited company in Thailand Step 1: Registering the company name The name you can choose for your company must not be identical to or resemble the name of a pre-existing registered partnership or company.
Get our in-depth guide covering everything you need to know about starting and managing your business in Thailand. Download now. About Acclime Thailand We are a premier corporate services firm specialising in providing everything foreign entrepreneurs and established companies need to successfully start and manage their new business in Thailand.
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THAI LIMITED COMPANY