What happens when you liquidate a company ?

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 submit liquidation report or to register the liquidation within three years of registering for dissolution. This revocation will cease the juristic person status of the company and the liabilities of the directors, manager and shareholders will remain the same as if the juristic status of the company was unchanged.

However, a company can be registered again if the company, its shareholders or creditors file a lawsuit requesting an appeal for re-registration within 10 years from the date the company was removed from the registry.

Contact ThaiLawyers for Thai company registration and liquidation assistance. We are also in close cooperation with experienced certified Thai accountants to ensure you that your Thailand business is on a right track with the expertise from both the law and accounting sides.