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Understand the Jurisdictions Setup Requirement Before Proceed Your Thailand Company Incorporation Services
Thailand, or formerly known as Siam, is a newly industrialized country in Southeast Asia. Being recognized as the most visited country in Southeast Asia in year 2013 by the World Tourism Organisation, the huge number of tourists and strong buying power, Thailand would definitely be a good choice to set up your business.
A wide range of business forms are offered in Thailand, whereby many of which is available to foreigners, as long as they do not violate the conditions of the Foreign Business Act. On top of that, each entity is either trading or non-trading, different rules are applied towards its ownership.
Setting Up Thai Limited Company
Setting up company in Thailand, requires only three mandatory shareholders to incorporate and register a new Thai limited company.
Two essential documents which must be registered with the Thai Ministry are required: The Articles of Association and the Memorandum of Association. As long as the original shareholders and promoters (if different) agree to the terms in writing, Articles of Association can be tailored to suit the specific needs of a company.
If a Thai Company is majority owned by a foreigner, the foreigner must obtain a foreign business license before engaging in business activities. However, if the majority is owned by Thai, it will not encounter such restrictions. As a result, it is beneficial to form a business partnership with a Thai national, in order to meet the legal definition of a “Thai company”.
100% Foreign Ownership Options for a Thai Company
- Board of Investment Company (BOI) – Can enjoy the benefits of 100% ownership, tax incentives and other government concessions.
- US Treaty of Amity Company Registration – American citizens can exercise 100% foreign ownership by utilizing the Treaty of Amity agreement.
- Foreign Business License – A company can apply for 100% ownership by demonstrating a benefit to the country through technical and knowledge transfer, investment and employment factors.
- Thailand Export Company – Company who registered to export only is eligible for 100% foreign ownership, with the revenues realized from outside Thailand 100%.
- Thailand Manufacturing Company – Company that registered to manufacture for export only whereby all revenues generated from outside Thailand is eligible for 100% foreign ownership.
- Thailand Hotel Management Company – Company that registered for hotel management only is eligible to 100% foreign ownership.
- Representative office, Regional Operating Headquarters & Branch Office – Other corporate registrations for foreign registered companies are possible with each carrying specific restrictions on operations and profit/revenue generations.
- Register your company name
- Filing the memorandum of association
- Statutory meeting
- Register the company
- Register for income tax and VAT
- Open a corporate bank account
How 3E Accounting Helps?
This is where 3E Accounting can help you with all the hurdles and challenges on registering a new company in Thailand. 3E Accounting has a strong professional team ready to give their expertise to clients in order to make their business venture successful. If you are looking for consultation and assistance for company incorporation in Thailand, we are ready to be your best support.
If you require assistance or consultation, please feel free to look for us at email@example.com and we will promptly reply you within 24 hours.