If you’re starting a new business in Thailand, you’ll want to know what’s required for Company Registration in Thailand. If you’re wondering how much capital you need, how long it takes, or what documents you need to submit to get started, this article will give you the answers you need. In addition, we’ll talk about the Minimum capital you need and the documents you’ll need to submit to the government.
Company name approval in Thailand takes 1-2 days
In Thailand, registering a company name is relatively simple. You submit a company name application form online with the Department of Business Registration (DBR), and are given three suggestions, ranked by preference. During this process, the authorities review and approve the names. Once approved, a corporate name is officially registered. Thailand allows certain names for companies, but not those that are associated with the royal family, other ministries, or governmental units. Additionally, the company name must not be similar to other companies, or obscene, deceptive, or misleading. After the name is approved, a corporate registration in Thailand takes approximately 30 days to complete.
After submitting the application, you will have to submit the relevant documents. First, submit the Memorandum of Association. This document should include the company name, its objective, and the address of the head office. The company’s registered capital must be divided into shares of equal value, with each share worth 5 Baht. In addition, the Memorandum of Association must include the names of the persons who intend to start the company, their address, age, occupation, and two witnesses. Additionally, it should include capital information, including the number of shares and their par value.
Minimum capital requirements for company registration in Thailand
In order to register a company in Thailand, you must have at least fifteen Baht in registered capital. You must pay this amount at the Department of Business Development (MOC), preferably the day of the MOA meeting. Then, you must submit a Memorandum of Association to the MOC, specifying the objective of the company and its name. In addition, the capital must be divided into equal shares of five Baht each. Besides, you must give the name and address of two witnesses, and include information about yourself and your company’s capital, which includes number of shares, par value and the number of shareholders.
When it comes to the minimum capital required for company registration in Thailand, a foreign company must pay the minimum capital before it starts operating. However, a BOI or branch office does not have to pay the minimum capital. As far as meeting the capital requirement goes, you can only complete it in parts, as the minimum capital amount can change. Therefore, it’s important to check the requirements carefully and select the right company registration in Thailand.
Required documents for company registration in Thailand
Before establishing a Thai company, you must prepare certain documents. First, you need to have a physical address and a registered office in Thailand. Then, you should arrange an annual general meeting with shareholders. The meeting must approve the audited financial statement within four months of the company’s fiscal year. To register a company in Thailand, you will need to have Thai translations of all documents. You will also need to register your company with the Revenue Department, as well as obtain a Tax ID Number and Tax ID Card.
The next step in company registration in Thailand is filing the memorandum of association. This document should contain the name of the company, the promoters, location, business objectives, and financial information. You should also organize a statutory meeting and appoint an auditor. After this, you will need to file all the necessary documents with the Department of Business Development and the Central Filing Office of Revenue Department in Bangkok.
Time it takes to register a company in Thailand
If you are planning to set up a company in Thailand, you must first determine how much time it will take to complete the registration process. Then, choose a name. Make sure it is unique and does not have any ties to the government, the royal family, or anything that would violate public morality. Then, select a legal entity and fill out the necessary paperwork. After that, you must wait for the approval of your company name from the Department of Business Development.
In Thailand, you can choose a name for your company by thinking creatively and carefully. Try to select a name that represents the nature of the company. Using a catchy name is also recommended, as it will be easier for non-English speakers to remember. Finally, keep in mind that you’ll need to pay two kinds of tax: corporate income taxes and VAT. The latter is based on the sale of goods.