How to register a company in Thailand?

Thailand has a flourishing economy backed by an expanding middle class which is thriving as a start-up community. According to recent studies and rankings, it is one of the best countries to register a company and start a business. The kingdom of Thailand is an appealing option because of its culture, growing tourism, and determination to become a competitive economy in the world.

Here are the reasons why Thailand is a great option for business registration:

The process is quick and easy

Generally, setting up a business in Thailand takes about five days. If you know what you have to do, the process for company registration in Thailand will go fast and won’t consume too much of your time and energy. Just learn how to register a company in Thailand and apply it correctly!

Cheap costs for manufacturing

Another good reason to choose Thailand as a destination for company registration is that Thailand has significantly lower costs for manufacturing goods compared to Western countries. With a small investment, you can succeed in having a profitable and successful business here!

Easy connection to the world

As a businessman, you will always seek to stay connected to the rest of the world and create more opportunities for your business. In this sense, Thailand is the best destination. The country is the market center of South Asia and is also strongly linked to the Western economies of the world.

Bureaucracy

The precise regulations should be another decisive factor. Knowing you build a business in a country that lacks corruption will ensure you make the right decision. Thailand has a complex system of registration and precise regulations that are available for both citizens and foreigners in the same way.

Affordability

Thailand is always open to new businesses, including foreign ones. Therefore, through its set of rules and established taxes, the country seeks to encourage foreigners to apply for company registration in Thailand. That’s why it offers many business opportunities to young entrepreneurs who intend to set up a company here.

Low unemployment rate

Thailand can proudly say it is one of the world’s countries with low unemployment and poverty rates. The continuous growth and development of the country have helped it to always stay economically strong and bring stability to its people. So, you won’t have to worry that you won’t find employees or that your company will not work. Here is the land of all possibilities!

Read more: Business Operating License in Thailand

There are a few essential steps to register a company in Thailand, but the most important of them is creating a business plan. Do research about the Thai economy and discover which are the most promising businesses at the moment. Pick the one that better suits your talent or your passion and create a good plan. Having a business plan will guide your business from the start-up phase through establishment and for sure it is a must-have if your business is new.

Once you set up your business idea the first question that goes through your mind probably is how to register your company in Thailand. Let us reveal the whole process to you:

If you are opening a new company and you need to find out how to register a company in Thailand, or just looking for a reliable accounting partner, J & E Concierge can make your life easier and save you time in Pattaya.

If you are looking to start a company in Thailand, you probably have the concept and the name of your business. We do not want to disappoint you, but you might change your mind after reading the following information. Thailand has specific regulations about company names.

First, you have to choose a name that is not related to any other company name in Thailand. Pick a unique name, or to be sure pick at least three.

The name of your business will also depend on the company form you choose for your activity. Your business can be a sole proprietorship, a partnership, a limited liability company, or a corporation. But note that each business structure will impact many factors like your business name, liability, and how you file your taxes.

There are 4 forms of establishment you can choose to operate your business here:

Thai Limited Company

It is one of the most common company registration forms in Thailand. Shares must be divided between at least 3 shareholders, with a percentage of 51 belonging to a Thai person. This type of company requires that you hire at least 4 people.

The Memorandum of Association is a document that contains the name of the company and details about all shareholders. It also has to be signed by all partners.

Sole Trader

If you apply for a sole trader organization, you will register as an independent contractor. You can collaborate with different companies. Also, you are exposed to unlimited liability, which means that all your assets are attached to your business.

Partnership

Similar to Sole Trader registration, the Partnership involves responsibility and liability from both partners of the business. There are two forms of partnership you can apply for in Thailand: ordinary and limited partnership.

Branch Office

If you already have a business established in a different country than Thailand, you can choose to apply for a Branch Office and operate your existing company in Thailand. This form of company registration in Thailand allows you to earn income.

As you cannot have overall control of your business, you need to find a director for your business and other promoters. In this way, you will grow trust in Thai authorities. Once you complete this step, you can move further to prepare your documents for the Memorandum of Association! The necessary paperwork consists of:

–        Business authorized name

–        Business address

–        Your non-immigrant Business visa

–        Names, addresses, and functions of your promoters.

–        Proof of fee payments

It can be convened as soon as you register the Memorandum of Association. At this point, you will decide together with your promoters the regulations of your company. In other words, you will establish the financial, structural, and functional modalities to make your business work. You can move to the next step only if all parties or the majority of it made a common decision.

These are the main steps you have to take for company registration. Now that you discovered how to register a company in Thailand, it’s the perfect time to take the final step and contact us for help. There are also several things you need to know after you finish these steps. In short, to legally conduct a business in Thailand you also have to:

• Register for corporate income tax
• For VAT
• Register for Social Security Registration

Whether you are researching the best country to set up your business in or to expand your business activities, Thailand should be on your list. Not only for its economic advantages and growth but also for its culture and nature, Thailand is always open to new business ideas.

Moreover, it embraces technological developments and encourages its people to materialize their business ideas. With the help of J&E Concierge and services for company registration in Thailand, the entire process will be much easier. You will be one step closer to establishing your business and starting a new prosperous life in a friendly country.

Read more useful articles:

What are the steps for company registration in Thailand?

Special business tax in Thailand

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