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| Incorporating in Thailand | |||||||
Incorporating in Thailand is usually a quick and straight forward process. Depending on the corporate vehicle chosen, incorporating a company in Thailand can be relatively quick and straight forward, usually taking over a month for private limited companies.The following information is for private limited company incorporation in Thailand:
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| 1. | Investors starting a company in Thailand should note that Thailand is the world's 19th easiest place to do business according to the 2011 Doing Business Survey by the World Bank. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business.
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| 2. | In Heritage Organization’s 2011 Index of Economic Freedom, Thailand was ranked low at 62nd and considered to be ‘moderately free’. Thailand is not known for as a particularly economic free nation, the downside factors are low investment freedom and high levels of corruption.
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| 3. | When incorporating in Thailand, the corporate name is requested for reservation with the Commercial Registration Department in Thailand. The company name must satisfy the local guidelines and upon approval, the name is reserved for 30 days.
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Then a Memorandum of Association is written and submitted to the Commercial Registration Department, stating the following information: i) the 7 shareholder names and equities, ii) the company's location, iii) business objectives and total registered capital amount. | ||||||
| 5. | To establish the company, there are fees which the government applies. The registration fees comprises of 120,000 Baht (US$3,970) service fee and 12 500 Baht (US$410) government fees. Government fees are dependent on the amount of registered capital, the above assumes a registered capital of 2,000,000 (US$66,140).
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| 6. | Tax and VAT registration will need to be done within 60 days of incorporation. However, only companies that earn more than 600,000 baht (US$19,840) annually need register for VAT. All companies in Thailand possess a Tax Identification Card and number for the company from the Revenue Department.
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| 7. | After incorporating in Thailand, a company is required to submit annual tax returns and audited financial statements. All companies must keep books and follow accounting procedures specified in the Civil and Commercial Code, the Revenue Code and the Accounts Act.
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| 8. | It is also possible for international investors to register ordinary and limited partnerships, as well as representative offices.
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| Contact Us | |||||||
For more information on incorporating in Thailand, email email@healyconsultants.com or call us in Singapore (+65) 6735 0120.
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Back to the Thailand Company Formation page.
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