Thailand offers a great business potential of foreigners who want to start managing or opening a new business.
Due to the growth of the economy and its extensive natural resources with a dynamic market and very strong exports, Thailand is the perfect place for a new business.
For those who do not know Thailand’s laws and practices, business registration can be challenging and difficult at the same time.
The process of business registration can take between 3 and 5 days for a single limited company, depending on the structure, and up to 90 days for a more complex company.
Most foreigners who come to Thailand, often wonder if they can hold shares within a company opened here.
Due to the fact that the Thai government offers a wide range of government incentives, making it easier to obtain visas and work permits with sufficient infrastructure, providing ample support, all foreigners who come here have the opportunity to register a new company.
Foreigners are also wondering what is the most favorable form of opening a new society in Thailand.
Because it is structured to protect investments, can be also set up in a few days, and support foreign work permits,
the formation of a Thai Limited Company is the most favorable and popular among foreigners.
Before you start taking the necessary steps for business registration Pattaya, you need to identify your promoters.
Complete the form to enquire about Registering a Thai Company in Pattaya
Business registration in Thailand consists of the possibility to choose between a private and a public company, it’s up to you to choose which of these two you want to start with.
As I said above, before starting the process of business registration in Thailand, you should consider the number of promoters, you need to know that for private companies you need at least 3, while for public companies you should have at least 15 promoters.
To be able to act on behalf of the company, a promoter would have had a minimum age of 21 years. They hold an equal share of the company, but after the registration of the company, the shares of the promoters can be transferred to other persons.
Companies have to register the association’s memorandum because there is a registration at the ministry of commerce, with details about the company name, finances, the name of promoters, of its objective, etc.
The company must pay all the shares for the entire duration of registration the memorandum.
o complete the process of business registration in Thailand, there are also a few things you should know.
We spoke earlier about public and private companies, as well as about the number of promoters you will need when you open a business.
Besides private and public companies, there are still two entities that your future company can display.
The company formation can take the form of a well-established branch office considered to be a permanent establishment in Thailand to be treated as such. Depending on the period in which the branch will operate in Thailand the minimum social capital depends upon incorporation.
If the branch will be active for 3 years or more, 25% of the capital will be remitted within the first 3 months.
The next form that the new company can take is the representative office, which can own 100% foreign ownership, not being taxed with income taxes but can not offer commercial services and can not get income in the country.
After the process of business registration in Thailand has ended, all companies have to adhere to the principles of taxation, deposit accounting, and auditing requirements.
Financial reporting standards are used by companies to prepare their financial statements.
If you’ve already gone through most of the steps in your process of business registration in Thailand, you have already established the location where you will be doing business.
Company formation also includes a set of taxes including, the corporate tax on a stamp, duty, and value-added tax.