General Guidelines for Limited Company Setup in Thailand
The incorporation of a Limited Company is the most common way for one or more foreign partners, as societies of people are denied to non-Thais.
There are several types of companies listed on the website of the Department of Business Development (DBD). The same site gives the chance to register your company online. Also the website of the Board of Investment (BOI) provides useful information for companies that want to invest in Thailand mostly foreign capital.
Normally after a few weeks of DIY attempts the candidate entrepreneurs are turning to a consultant, due to enervating bureacratic bottlenecks.
Setup a Thai company according to your needs
Open a company in the right way, setting it correctly, it is the first success factor for your future business. Depending on your commitment, your marital status, your asset composition and origin of your capital, there might be different solutions. Have an oversized or having to pay an important social capital can be a weight that you’ll take back for months, that will generate costs and loss of time. Siam Trade Development then design a company tailored to you, and we do it with you, making you share all the pros and cons of various options.
We don’t tell you how to proceed with your Company Incorporation Thailand: this is what you can see from the websites listed above. We advise you how to open them, how to organize it and how to manage it in the start-up phase, the most delicate. In this phase you will also need licenses, promotions, working permits, product registrations (Thai FDA, DLD, TISI, etc): all such services are included in our projects.
What’s the cost to setup a company in Thailand?
Costwise, Setup company in Thailand is not expensive and timeline is around 3/7 days.
1. Memorandum of Association Registration, for each 100.000 THB of Registered Capital: 50 THB (minimum 500 THB)
2. Stamp Duty for MoA: 200 THB
3. Stamp Duty for Company Regulation (if any): 200 THB
4. Company Registration Fee for each 100.000 THB of Registered Capital: 500 THB
5. Registration Certificate: 100 THB
From 50.000 THB (according to project size and required services)
Steps for Company Setup in Thailand
Lets’ see the different steps:
Step 1: Reservation of company name, taking two or three days and free of charge. After approval you have 30 days to proceed to registration
Step 2: Memorandum of Association between the promoters (3 individuals, DBD don’t allow companies for promotion)
Step 3: Company Setup in DBD and VAT registration in Revenue Department
In order to register the Limited Company, promoters must provide a house registration (tabian baan); if they are not owner of the building DBD requires a rental contract with authorization to commercial operations from the landlord.
Please remember that in normal cases 51% of shares must be under Thai nationals. Law allows a 100% foreigned owned company only in special cases (like, for example, for companies exporting 100% of their production or promoted by BOI).