Thailand is one of the regions with a good economy backed by an expanding middle class which is thriving a start-up community.
Aside from working as an employee, there are many other better ways to make money.
What would be more enjoyable than starting a business for your own? If you are ready to open a company in Thailand, remember that it is not so hard.
Once you set up your business idea the next step you must do is to register your company and it is very important to consider which structure will best suit your needs.
Since you already set up your business idea, now it’s time to compare it with reality.
Does your idea have the potential to succeed? To make your idea a reality you also need 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.
Every entity you choose for your business will impact many factors like your business name, liability and how you file your taxes.
Complete the form to enquire about Registering a Thai Company in Pattaya
Steps and legislation
First of all, you have to choose an initial business structure then you have to reevaluate the structure and change it in case your business is not growing.
Note that paperwork is a part of the process when you open a company.
The next thing you obviously have to know is the process of company registration.
You have to register the company name.
It is recommended that you reserve at least a few names ranked by priority to maximize the chances of success and note that your company name will be registered in the Thai language even if the name of your company is in English. Remember that your clients will have to write it, so do not propose a name that is lengthy or difficult for non-English speakers.
After you have chosen the name of your company, the next step is filing the memorandum of association which is a special agreement made by the founders of the company. The original copy ( copies) of the Memorandum must be signed by the promoters and certified by two witnesses.
If you want to continue the process of registration at your company you may have to provide information and the number of employees that you will hire and so other information.
But if you’re unfamiliar with the process it can be hard to take on by yourself.
The entire application process can be expected to take 3-6 months from start to finish.
There are some specific requirements in regards to the company promoters aswell.
For a private limited company you must have at least 3 promoters and for a public limited company at least 12( 20 years or older).
Promoters must be registered and available for signing documents during the registration process.
They should be free to transfer those shares to other parties afterward.
This use of promoters is a particularity of Thai law that is not generally needed for setting up a company in other locations.
Do not forget that in your process of company registration in Thailand you need to remember about The Memorandum of Association MOA which is the following company name, where the company is located, the scope of the business of the company, you also have to register the capital, your promoters name.
All investor who decides to start a new business in Thailand are already convinced because the country has such a strong government, have sufficient infrastructure and skilled.
From another point of view, Thailand is one of the most attractive investments in the world.
There are many types of business structures to choose from if you decide to set up your new own business in Thailand, in fact, if you do not know what choices you have in the form of business set up the company registration can be difficult for you. There are 4 forms of the establishment you can choose to operate your business here:
– Thai Limited Company:- is the most popular form of Thailand company registration.
Is that kind of company which is formed with a capital divided into egual shares, the liability of the shareholders being limited to the amount unpaid on the shares respectively held by them.A Thai Limited Company is the most common type of all Thai companies. You will need to set up a new limited company no matter what business objectives come into your mind
– Branch Office: you can choose to operate your existing foreign company in Thailand a Branch Office.
In another point of view, you can also choose to set up a representative office, which is also a form of Branch Office but as a representative office, you cannot earn income in Thailand.
Company in Pattaya
Further on are a few steps that show you how to open a company in Pattaya.
You need to have 4 staff for every foreigner who works in your company plus 2 million baht of registered capital to support the foreigner’s Work Permit when you decide to open a company in Thailand which is a country of tourism so is absolutely a good place to start a business.
You must form goals and objectives to start up your new company.
Goals show where you intend to go and tell you when you get there. You can improve your overall effectiveness as a company — whether you want to increase your share of the market, for example, or improve your customer service.
Depends how well you define your goals, you will always do the right things and achieve what you wanted to accomplish in the first place.
You and your company need to take care in order to reach each of your goals which are named objective.
Setting your company up as a corporation or LLC is a popular entity structure for many businesses.
You have to decide what kind of entity is before registering your company and business structure legally affects everything from how you file your taxes to your personal liability if something goes wrong.
You can register for a sole proprietorship If you own the business entirely by yourself and plan to be responsible for all debts and obligations.
For any other questions about how to start up a business, do not forget we are here to assist you.