Company setup in Thailand
To set up a business in Thailand, you will initially need to incorporate a juristic entity and it would commonly be Limited Thai company. The incorporation will require the reservation of the Company name. The Company’s name is one of the important element as it is based on your preference(s) and could even elaborate the business scope, industry and the objective of your company, but it cannot and should not be similar to another company name in Thailand and few words would be prohibited. Once you have the Approval of the company’s name, next would be the filing of a Memorandum of Association with the Commercial Registration Department. The Memorandum registration fee is 500 baht for every 100,000 baht of registered capital. The minimum fee is 5,000 baht, and the maximum government fee is capped at 250,000 baht.
Final step of the incorporation will involve the convening a statutory meeting; a minimum of 25% of the value of each subscribed share must be paid. The directors must then submit their application to establish the company and within 60 days of the start of operations a tax identity card must be applied for. A company seal will also be required.
