Setting up a new company
If you’re still thinking about setting up a new company, and want to keep moving to your instinct and ideas, first you have to understand the Thai laws and consider the steps you will need to follow.
Many foreign citizens who already have the plan and ideas for setting up a new company, sometimes they do not know where to start.
The first and most important thing you have to do is to register your business.
For strangers who want to open a business in Thailand, this country provides them with a wide range of business structures, including the most popular of them, the Thai Limited Company.
Both the investors of a Thai Limited Company and its third parties must present a clear picture and understanding of the government business.
Third-party companies have the right to verify the company’s status.
Complete the form to enquire about Registering a Thai Company in Pattaya
A good recommendation would be to invest in a very solid and, of course, long-term business.
When you are determined to continue the process of setting up a new company and have already chosen the Thai Limited Company you just need to know the steps you will need to take.
At first, you have to choose a name for your company and if you want the chances to be bigger, consider at least 3 variants of a name which later on you have to book.
Then, you have to deal with the memorandum of commerce that you have to submit to the Department of Business Development containing the name of the company, the location, the objectives, the capital and the name of the promoters.
Setting up a company service requires a statutory meeting, these being done after the structure of the company’s shares has been defined, the Memorandum and the constitutive act have been approved.
It must be remembered that the company’s directors must file a request for the establishment of the company within 3 months after the statuary meeting was established, together with the company’s registration fees.
At the end of all your steps, setting up a new company requires also to open a corporate bank account in Thailand.
Please note that this bank account opens only after the company has already been registered.
When the registration process is completed, the new company is recognized by law as a separate body and independent of its shareholders having different rights and obligations towards them and forcing the company itself into any agreements or commitments between it and third parties.
All data entered in the company’s premises are already acknowledged by third parties, that is why third parties can not declare that they have not had any information unable to protect their own interests.
Setting up a company service which is based on the structure of a Thai Limited Company, once a month is required to prepare the financial statement, and each year an auditor has to check the statements.