The first step to register a Thai limited company is to reserve a name. To do so, you will need the name of the person wishing to reserve this company's name, his/her address and Thai ID number or passport, and 3 choices of names. The reservation can be done on the Internet and it takes about 24-48 hours to know which one of the three names submitted was chosen. After that, you will have 30 days to register the memorandum of shareholders of this future company.
Your Thai company will need:
At least 3 shareholders (this is since July 2008. Before, 7 shareholders minimum were required in Thailand. There is no requirement about the nationality of the shareholders. However, if foreigners own 50% or more of the shares, this company will be considered as a "foreign entity" under the Foreign Business Act). These are called "promoters". These promoters must be at least 12 years-old.
A physical address. (Note that you must register your company in the province where the company is located).If you rent a place, you will need the consent of the landlord and a copy of the lease.
One or more directors. (If you wish, one of them can have all powers or you may decide that powers must be exercised by more than one director each time)
Objectives of your company. (Standard objectives are normally added by you should you wish to personalize your company according to your intentions)
Some capital registered. (The minimum is 1 million baht. Government fees are 5,500 baht for each million baht capital registered)
A logo which will be applied on a stamp. (There are strict specifications and a logo can be refused by the Department of Business Development if it doesn't fulfill their criteria)
Since July 2008, it's much faster to register a new Thai limited company. Everything can be done in few days and you company can operate. However, an additional delay will be required if you need to apply for a tax number and get a VAT registration.
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