If you are one of
the many expats that is enchanted with living in Thailand and would like to
start a business in the Land of Smiles, you’ve come to the right place, as this
article offers you step-by-step information on the best way to set up a company
in Bangkok. A private limited company is by far the best option for an expat
who wishes to register a business in Thailand, with perhaps a partnership with
a Thai national, which is required by Thai law, unless the foreigner obtains a
special foreign business licence.
You are advised to
choose three separate names, in order of preference when submitting your legal
request to register the business in the name of a limited company, and try to
keep the name short and clearly readable in English (it will be translated into
Thai). There are certain words that cannot be used in a company name and when
looking for company registration in Bangkok, you are advised to enlist the help of a
local agency that specialises in such ventures.
This document must
contain information about the company as follows:
of proposed company.
address of the company offices.
of limited association.
of registered capital.
amount of division between partners or shareholders.
This must be
signed by all concerned parties and two copies of the original must be made and
certified by two witnesses.
The reasons for
holding a statutory meeting are:
the rules of the company.
the amount to be paid to the investors.
appoint directors and auditors.
decide the number of shares to be issued.
This can be done
on the same day that the memorandum is created, and it must be lodged at the
Thai Ministry of Commerce, after the statutory meeting has taken place. The
details of the registration application would include:
total number of shares (if any).
names and addresses of directors, plus their respective powers.
duration the company will be in operation (if a term has been fixed).
At this time, Thai
investors would have to disclose the sources of their investment capital, and
should the company acquire property, there must be approval of the Land
Department. There must also be recorded details of all investment, made by
whom, along with all share information.
Of course, all
this is quite complex, and for a foreigner, the best solution is to engage the
services of a firm that handles Thai company registration, who could advise
them accordingly and handle the process on their behalf. It is important that
all requirements are met, following the correct protocol, which is why you need
the help of a third party who is experienced in such matters.
Your lawyer would
be able to liaise and keep you informed, and once the company is registered,
you can begin trading.