If you wish to set up a business in Thailand as a foreign company, you may want to obtain a Foreign Business License. You only need to have three shareholders to register a Thai limited company. As a foreign investor, you will need to go through the Department of Business Development (DBD), which is part of the Ministry of Commerce.
Registration Fees Paid by Foreign Investors
Some of the fees paid by foreign investors include the following:
- The registration fee, per the registered amount of capital. The minimum fee is 500 THB.
- The minimum capital per share. This will differ, depending on the type of business entity that is being incorporated.
- A stamp duty. Imposed on certain documents, this fee needs to be paid for incorporation.
- The registration certificate fee. This fee applies to a company’s registration certificate.
Other Registration Costs
Other costs that are included for registration include the following:
- Specimen signatures
- Director statements
- Law firm services
You do not have to pay for VAT registration.
Company Registration Proper
A company should register within a month, or 30 days, from the date it starts. The same holds true for liquidation – the time limit is set at 30 days. If your registration certificate becomes lost, you must request and replace it within 30 days. Company directors and founders must comply with these legal mandates.
Also, the unique name you select for your company must be placed on display in a public place in a head office within 30 days. Once you register, you will need to obtain a tax ID from the Revenue Department. This activity must be completed within 60 days of the company’s incorporation, or after the beginning of operations.
Why Foreign Investing and Registration in Thailand
While the main investing company is currently Japan, Thailand’s diverse economic structure provides plenty of opportunities for people who wish to do business in various sectors. Sectors that invite investments include real estate, communications, and information technologies.
If you are a foreign investor and entrepreneur, you can find out more about the Thai registration process by working with a legal firm that understands how registration works. A lawyer can help you, as a foreign investor, to see what laws are needed to be met in certain fields. Every business is different. Therefore, you need to know how to follow a sector’s requirements for registration.
Whether you want to shoulder a small portion of a company’s accounts or wish to take over a company 100%, you can find answers to your questions online. Work with a reputable law office so you can ensure a successful company formation and registration.
The Basic Registration Process: A Quick Overview
The process for registration includes reserving a company name, drawing up and submitting company documents, registering the company (after the papers have been submitted), and making subsequent registrations, as needed. For example, if you form and register an LLC, you will need to register for tax purposes and submit the proper tax forms when hiring.
If you need legal advice or assistance from a qualified corporate lawyer, please contact us today.