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 or manufacturing goods in Thailand, then it can have foreign majority ownership without having to get a foreign business license.
Here is something you have to consider if you have Thai people hold the shares in the company;
- If you are holding 40-50 % shares or
- If you are holding less than 40% shares but you will be one of the authorized directors to sign for the company,
Then the Thai shareholders need to prove the source of the money they invest in this company, by showing one of the following:
- 6 months of bank statement showing enough money to buy the amount of shares they will hold.
- A letter from a bank confirming the financial status of the shareholder. The bank normally will issue this letter if the account holder has the required amount of money.
- Any other document showing the source of the money.
If your Thai shareholders can provide the papers, then we can register the company for you very quickly. We need only one day to register the company, but usually it takes some time for you and your other shareholders to prepare the necessary papers for the Thai company registration.
Steps in registering a company with ThaiLawyers:
- Please let us know 3 names you want to use for the new company, the first one the first priority.
- We need 2 days to get the answer which name is approved.
- We will order a company stamp for you. If you have your own design, please email it to us once you know which name is approved. In case you want that the signatures of the directors to bind the company are sufficient, not with the company’s stamp, then we don’t need to make the stamp. Please let us know in advance.
- We need the full name, full address, age, nationality and occupation of each shareholder in Thai.
- We need the full address that you will use as the official address of the company.
- What are the main businesses of the new company?
- What will be the registered capital? Please note that if you want to have a work permit with the company, the registered and paid up capital has to be Baht 2 million per work permit.
- How many shares do you want the company to have? Usually most people make their shares at Baht 100 par value each. If you have Baht 2 million registered capital, then the number of shares is 20,000. Par value can be as low as Baht 5 per share.
- We need to know who will be the directors of the company. If any directors are not shareholders too, then we need their full name, full address, age, nationality and occupation.
- We need to know the power of the directors, who can sign to bind the company, who will have to co sign with whom, who can sign alone, etc. Please consult with us if you are not sure what to do about this.
- Once we know who will be the directors of the company, then we will need their Thai ID card copy, or in case of foreigners, their passport copy (main page only).
- If you have spent some money as pre-operating expense (the amount you paid for the purpose of forming this company), please let us know the amount, so we can put it in the registration form.