Setting up a Company in Thailand

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What Is A Thai Limited Company?

A Limited Company, particularly a Private Thai Limited Company, is the most popular form of business structures in Thailand. Its key features are:

  • The liability of the shareholders are limited to any amount left unpaid on their shares
  • There is a separation between owners and management

Section 1096 of the Thai CCC (Civil and Commercial Code) has provided that “A limited company is that kind of which is formed with a capital divided into equal shares, and the liability of the shareholders is limited to the amount, if any, unpaid on the shares respectively held by them.”

The incorporation of a Private Limited Company requires:

  • A minimum of three promoters
  • At least one director
  • An auditor
  • A memorandum of association
  • A statutory meeting
  • Registration of the incorporation papers

They must also follow accounting procedures specified in the Civil and Commercial code, the Revenue Code and the Accounts Act. A balance sheet must be prepared once a year and filed with the Department of Revenue and Commercial Registration. In addition, companies are required to withhold income tax from the salary of all regular employees.

Thai limited companies are the most common form of business registration in Thailand. We are a full service Thai law firm. Let our Thai lawyers or any of our foreign lawyers provide you with guidance when registering your limited company in Thailand.

Reserve Your Proposed Company Name

The Thai limited company name reservation must follow the guidelines of the Business Development Office in the Ministry of Commerce amongst other guidelines.

File a Memorandum of Association

The Memorandum of Association of the Thai limited company must to be filed with the relevant Thai authorities.

Convene a Statutory Meeting

The Thai limited company must convene a statutory meeting to make all the appointments.

Company Registration

To establish the Thai limited company it has to be registered with the Thai government.

VAT or SBT Registration

Depending on its business activities, a Limited Company may have to register for the Value Added Tax or Specific Business Tax

  • Ken Anderson

    Why anyone would wish to set up a company and / or invest within such a dishonest and inherently corrupt environment is a constant mystery to me.

    • Ken

      Because most of the foreigners doing business in Thailand are dodgy as hell anyway.

      • Del *

        What a pair of Ken(t)s you two are.

        • Ken

          Yes, the truth always hurts doesn’t it Delboy.

  • amazingthailand

    DOOOOOOOOONT

  • Tony Akhurst

    express visa direct are at it again business must be bad.

    • Patamnak Hill Hobo

      The dodgy brothers incorperated i wouldn’t trust them as far as i could kick’em

  • ken

    Only a person interested in being a failure would do this. Be prepared for for a life of despair, failure, doom and pain if you embark on this foolish task of setting up a business in this wasteland.

  • Patamnak Hill Hobo

    The farang dream i wanna buy a bar and retire in Thailand six months later most of them have gone down the gurgler.

    • amazingthailand

      or cheap leo

      • Patamnak Hill Hobo

        Maybe even the 29 baht 7/11 cheers beer

  • xyz yer

    Thai888 law was set up 5 years ago and we have helped many companies set up and grow. The old saying is fail to plan plan to fail. Due diligence is the key. Do your home work and then decide if you want to take the leap.

    • Patamnak Hill Hobo

      Some these nincompoop farangs couldn’t plan a afternoon tea party at grannies place little lone a business they’ll be taking the leap right off there balconies after you lot get your grubby claws into them

    • Ken Anderson

      Why take a leap at all? Just set up your business in a stable and civilised country that is not rife with corruption and dishonesty.
      That sounds like the best plan to me.
      I am sure most here are already well familiar with the old saying:
      Q. How to make a small fortune in Thailand?
      A. Start with a big fortune.
      Over the years I have lost count of the many times I have seen that little pearl of wisdom to be so very true.

  • Ok now

    why would you ??? ………….they have home court advantage and will scam you every way till Sunday.

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