Starting a business-requirements
When you decide to start the action to develop new business, it is normal to be concerned about whether or not you will be a minority shareholder, but as long as everything is very well set up, you have no reason for concern.
One of the advantages of having a Thai company is that both the works and the capital requirements will be lower.
One of the requirements for opening a company is that annually, a financial statement must also be drafted and presented to the authorities, otherwise, your company may be removed from the record.
It is also possible to use preferential voting rights, with the majority of voting shares, being consulted in order to assume control of voting rights.
Complete the form to enquire about Registering a Thai Company in Pattaya
Income between shareholders must be shared equitably, normally distributed through expenses, without leaving anything when a coup hit.
Another aspect among the requirements for starting a business to the amount of capital needed for a major Thai company, this being 1 million Baht.
It is worth noting that here in Thailand, are strict laws prohibiting the establishment of a new company aiming at the purchase of land or any form of property, the nominated shareholders being illegal.
Many say that a foreigner can not get 100% of a Thai Limited Company, this being untrue, yet you must be aware that doing so may take a long time, and there are 3 ways that a foreigner can benefit from this percent.
Maybe the most important of the requirements for opening a company in Thailand is getting a business visa, called Non-Immigrant B( visa business), being granted to unique foreign companies that do not compete with Thai ones.
Among the above mentioned, there are several steps to be taken when you starting the process of opening a new company.
One of the requirements for company registration, to be retained and very important, is that most of your company’s clients need to be owned by a Thai citizen.
Among foreigners who start a new business in Thailand, the most popular company is The Thai Limited Company, because the company’s shareholders have limited liability while its directors can have unlimited liability.
Among the requirements for opening a company, is the stage, this being the first one, in which the name of the company is reserved, this action being made by the promoters of the company with the Department of Business Development.
The next thing that must be done by the promoters of the company, they must submit the Memorandum of Association to the Commercial Registration Department, containing information about your business.
The statuary meeting is the next stage being part of the requirements for starting a business, with the purpose of establishing details of the company’s shares, the establishment of the principal director and promoters’ reimbursement.
If your company has foreign workers, there are some minimum requirements for equity and employment.
After the statuary meeting has been established, the company’s directors have 3 months to file an application for registration for the company, this being a part of the requirements for company registration.
All documents must be signed and also the payment which must be made for the shares of the new company.
Another aspect that is a part of the requirements for starting a business is that the new company that will either be formed had the obligation to keep records and to record all revenues and expenses in accordance with the procedure specified in the Civil and Commercial Code, but the Revenue Code and the Accounts Act.
If you still have any other questions about the requirements for company registration, do not hesitate to contact us.