Tourism industry in Thailand is the industry which provides or gives services in return for remuneration in connection with tourism activities within and outside the Kingdom as follows: – Tour business – Tourist hotels business – Business relating to restaurants, service places and resorts for tourists – Business relating to the sale of souvenirs or […]
In order to comply with the legal requirements on Partnerships and Companies under the Thai Civil and Commercial Code, all companies are required to hold the meeting called the Annual General Meeting of the shareholders (AGM). The meeting must be held within 4 months from the financial year-end, meaning by the end of April each […]
The shares of Thailand limited companies are divided into the following two types : 1. Ordinary Shares or Common Shares Ordinary shareholders have common rights according to THE CIVIL AND COMMERCIAL CODE, CHAPTER IV LIMITED COMPANIES and CHAPTER V LIQUIDATION OF REGISTERED PARTNERSHIP, LIMITED PARTNERSHIP AND LIMITED COMPANIES which are as follows: 1.1 Every ordinary […]
Some company owners decide to close down the business and they register for dissolution but fail to file a liquidation report or register the liquidation with the registrar. In this case, the Department of Business Development will revoke the registration of companies that register for dissolution, where in the liquidation process, the liquidators either failed […]
To close down a Thai limited company for ThaiLawyers clients, here is the general process. The process of closing down a company in Thailand: We advertise in a local newspaper the notice for shareholders general meeting (for the shareholders to come together to meet in order to approve the closure of the company), and also […]
To register a new Thai limited company, you need at least 3 shareholders. If you have 2 foreigners, then you need 1 Thai. The number of shares owned by Thai shareholders has to be more than that of foreign shareholders (Thai majority ownership). If new Thai limited company will be doing only export from Thailand […]
The Thai limited company registration service that ThaiLawyers provide often presents many good questions to blog about. One of many very popular questions is whether the foreigner who is setting up a Thai limited company has to sign the application for the Thai company registration in front of the registrar. We have the answer which […]
Many foreigners wanting to set up a Thai limited company want to have 100% ownership, but because of Thailand foreign business law, some want to explore the choice of having a Thai partner to be the majority shareholder. Many of ThaiLawyers clients want to know if they can have nominee Thai shareholders to hold majority […]
Registered capital is not the same as working capital. Registered capital is what you registered with the Department of Business Development, Ministry of Commerce of Thailand, as the capital of the company, at least 25% of which has to be paid up. When part or all of your registered capital is paid up, you have […]
The fees involved in setting up a Thai limited company if you hire a full service professional firm are as follows: Professional fees: 1. Setting up a new company inThailand, including getting a tax ID and VAT registration – Professional fee – Baht 40,000 – 100,000 2. Getting a foreign business license (or certificate to […]