Foreign investors have several business structures they can choose if interested in setting up a business in Thailand. Hi, Can you tell me if there is any way in Thailand to check if a company is really registered or not ? Capital A Berhad, (MYX: 5099) operating as AirAsia . The employer may require an employee to produce a certificate from a qualified doctor for a sick leave of three days or more. The company name must end with the word "Limited". Thailand is a country at the centre of the Indochinese peninsula in Southeast Asia.The Thai economy is the world's 20th largest by GDP at PPP and the 27th largest by nominal GDP. Thailand Business and Company Information. Organization chart of a Representative Office; All documents associated with the registration of the company's Tax ID Card and Vat Certificate must be submitted to the Central Filing Office of the Revenue Department. * Thai government officials require that all documents to have the seal of the company stamped on every page and the true and authorized signature(s) of the Managing Director and/or Directors next to the seal. Produced by Dun and Bradstreet as well as local sources, reports feature unbiased and independant information about businesses in Thailand and in Asia. For example, if you want to set up a labor dispatch company, the registered capital has to be at least 2 million RMB. Register your company in Thailand effortlessly without as much as touching a legal form. 1. Note that if you own or rent a condominium, it is not possible to use this address for company registration. Normally it would need to be approximately 100,000THB for inbound. Description on the reasons for setting up a Representative Office; We can usually have your company set up and under your full control within three to four weeks. Thai Airways International Public Company Limited is the national carrier of the Kingdom of Thailand. 3. Can Thai companies buy property in Thailand? However, before setting up a private limited company in Thailand, you must complete several steps and requirements. Share capital. Is it necessary for me to remit the company's capital? You can also use the same name for several companies provided that you accompany the name with a different figurative word (for example, ABC Trading Ltd, ABC Holdings Ltd or ABC Capital Ltd). Operating similar to a US-based limited liability company, a private limited company in Thailand can be up and running in as little as two weeks with TILA Legal's expert help. You will need to present your passport in person along with the bank statements and other documents. However, in practice you would need at least THB 50,000 to register a company. If you have some problem to use your address to be a Thai company address TILA Legal can offer our virtual office address services for Thailand company registration and range from 2,000THB monthly (minimum 3 months). In this connection, if the employee refuses to move and work in the new location, the employee has the right to terminate the employment contract and is entitled to receive a special severance pay of not less than 50 percent of the prescribed rates of severance pay. The application can be lodged at the Ministry of Commerce on the same day that the memorandum of association is registered, provided that the Statutory Meeting has already been convened. The minimum is THB 500, and the maximum fee is THB 25,000. However, the fee to register a company in Thailand is the same for THB 15 capital or THB 1M. 4) Preparation of an application and collation of the required documents to apply for a Tax ID card from the Revenue Department; Note: All the above documents must be notarized by a notary public or Consularized by the Thai Embassy. LLPs must report a financial statement every 12 months. Our firm has extensive experience in Thailand company registration and has been setting up all types of businesses for more than 15 years. Is it permissible for me to use my condominium address for registering a Thai company? The fee for the registration of the MOA is THB 50 per THB 100,000 of the registered capital. We need to take into consideration a few factors. How to check a Thai company registration ? What is the Minimum Capital Required to set up a Company Limited? 9.Size, working capital and source of funds of a Representative Office; . The Companys Regulations or if the Company has no Companys Regulations - a report of Companys Establishment Meeting which must be certified by the Minister of Commerce Do not propose a name that is lengthy of difficult for non-English speakers. The only restrictions on purchasing a condominium are that the percentage of units sold to foreigners cannot exceed forty nine percent (49%) of the total number of units in the condominium block; and that the funds used to buy the condominium must have been remitted from abroad and correctly recorded as such by a Thai Bank on a Tor Tor Sam. Giving advice concerning the goods of the head office sold to agents or customers; However, if you need a work permit, it has to be paid up at least THB 2M for each work permit. However, the maximum monthly wage base on which the above rates are applied must not exceed 15,000 baht. In spite of this, it is still possible for a foreigner to maintain a controlling interest in a company by issuing two separate classes of shares: ordinary and preferred. 14. We can set up a Thai company with Thai shareholders and directors. 240 days' wages where the employment period is at least six years but is less than ten years. The head office needs to be in Thailand and a Letter of Consent must be obtained from the landlord. If the company engages in activities specified in the Foreign Business Act, its minimum registered capital is 25% of the companys average per year expenses for its first three years of operation or 3 million baht, whichever is the greater. How much is the Thai employee minimum wage? LONG THAI ENVIRONMENTAL PROTECTION INVESTMENT CONSULTING AND TECHNOLOGY TRANSFER JOINT STOCK COMPANY is established on 02/22/2021, with head office located at House No. 2. How can I start the process if I am not in Bangkok? In case the foreigner who requires a work permit is married to a Thai national, the capital can be THB 1 M for the work permit of that foreigner. The nominee director will be entrusted various actions in the company, most of the times offering fiduciary . If you intend to open a foreign currency account or a savings account the bank would require a recommendation letter from your Embassy and last but certainly not the least an apt Thailand lawyer. There is no minimum capitalisation required, however, for each foreign employee the company is required to register with capitalisation of 2,000,000 THB to be qualified for the quota of one work permit. The maximum fee is 250,000 BHT. Once the deposit has been transferred, we will send you a form for requested signatures via email. Contact Acclime to guide you through the steps of registering a company in Thailand hassle-free. Manufacturing, agriculture, and tourism are leading sectors of the economy. This bank certificate explicitly states that the Thai baht funds are used "to purchase a condominium" in Thailand. However, please note that once you need to register for VAT and a work permit you will be required to have and use your own physical office address. Fax: (424) 397-8600. (IFRS). Government fee- 6500 Baht for first 1 million Baht and 6000 Baht for every 1 million Baht increase. You need to show your passport and international driving license when opening the account. See Our Thailand Company Registration Packages 2022. There are, however, some important exceptions: How is a company defined as a foreign company? It is important to note that, despite the fact each shareholder is only required to pay in 25% of the shares par value upon registration, the potential liability of the shareholder with regard to the companies activities remains 100% of the shares par value. Thai AirAsia is a joint venture between AirAsia and Thailand's Asia Aviation. Step 3: Register a Thai Company Limited with Department of Business Development. Note: there is no need for you to supply any details on these pages as we will type such details in for you. These companies are located in Lewes DE and Norcross GA. THAI CAPITAL FUND, LP: DELAWARE LIMITED PARTNERSHIP: WRITE REVIEW: . 3. Have a registered Thai limited company with a minimum of 2,000,000 Baht capitalization and VAT certificate. Limited Companies in Thailand can be registered through issuing 3 shares with a value of THB 5 each. The remaining shares may be held by anyone. Cal-Comp Electronics (Thailand) Public Company Limited is engaged in the manufacture of electronic products, such as computer and computer peripherals, telecommunication equipment and automation equipment. If you have minor children, the name and address of the person who will have the responsibility for the minor children, if the other parent is unable to serve as the natural guardian. 5/30/2022. The maximum number of working hours of employees is fixed at eight hours a day and 48 hours a week in total. Step 3: The statutory meeting. For the first stage of the process the applicant foreigner must find a Thai fellow director who does not have any kind of blacklist or criminal record in Thailand since, as stated above, the new recruitment license must be held by Thai director. So if you wish to set up a limited-company in Thailand, we can help you and ensure that your business is operating in as little as two weeks. If a company has Thai . However, this is not a requirement. Your email address will not be published. Registered Capital: Authorized 12,000,000 at USD 1 par value Issued and paid up USD 10,050,000 at USD 1 par . The licensee who plans to continue working must apply for a renewal of the work permit before the expiration date. If you are the director without salary earned from Thai company and not residing in Thailand you are not required to obtain the work permit in this case you can apply for Non-Immigrant B visa from Thai embassy when you come to Thailand to attend business events. 39,8%. 05, Tan Lap 3 Quarter, Cam Thuy Ward, Cam Pha City, Quang Ninh Province, Vietnam. Our scope of the services for obtaining a business license for a Representative Office includes: 1) Preparation of the application for a business license, collation of the supporting documents and submission of the same to the MOC; Example: The company has registered capital 2 million and has par value 100THB per share. Be registered under Thai law 7. By conducting a title search one can determine the lands legal boundaries, whether the land has registered lines, mortgages, leases, etc. Beyond just the company registration in Thailand , the Silk Legal team helped us with licenses, bank accounts, advisory and more. Info-clipper.com is a pay-as-you-go, subscription-free service. Address of the Representative Office and sketch map showing the location of the office; However, it doesn't mean that the more registered capital the shareholder declare, the better. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. An employee may be dismissed without due notice and severance pay if the employee: Intentionally commits a crime or act of dishonesty against the employer Intentionally or negligently causes the employer to suffer damage Violates the employer's work rules, regulations or lawful orders and a written warning has been given (except that such warning is not required for serious offences) Has been absent for three consecutive working days without a reasonable excuse Is adjudged to serve a prison sentence (except where such sentence arose due to negligence or petty offence). Checking and controlling the quality of goods purchased or manufactured in Thailand for the head office; A service fee of 7% VAT. The registration fee for a private limited company is 5,500 baht per million baht of capital. Purchases of condominiums by foreign individuals come under the jurisdiction of the Condominium Act. Research and development required (if any); Type of Business: Holding Company. 12. We have experience in obtaining and submitting recruitment license applications. For opening for a bank account to deal with business matters, it is imperative that you hire us to guide you through the intricacies involved in the procedure. Registered capital is not the same as working capital. However, when registering a Thai company for foreign ownership there are a few things to consider to ensure that you can retain full control and ownership of your company. Our website welcomes any Thailand armaments companies and presents an opportunity to bring in new clients via web advertising on the largest platform featuring Thai guns . Before you can apply for a work permit, you must hold a Non Immigrant Business Visa. Some of the best Thai food I've found on southside. Investment may be made with either cash or non-cash assets. This requirement is lessen to be 1,000,000 THB if foreign employee is married to Thai national. Establishing a private limited company is the most popular and easiest way to begin trading legally in the country and to employ staff, to open a bank account, and to deal with tax issues. The capital of the company must be divided into shares, each with an equal par value of at least Baht 5. In order to register a company in Thailand, you must have at least fifteen Baht in registered capital. Products and reputation of a Representative Office; and However, this does not mean that you need to have this amount of money to start, it is merely the limited liability of your Thai limited company. Be sure to check your agreement before registering the location of your company. There are some existing restrictions on American investment as follow; Owning land; Health certificate from Thai hospital state the blood group of the applicant and also showing that the applicant does not suffer from Leprosy, Tuberculosis, Drug addiction, Alcoholism, Elephantitus and Tertiary Syphilis. Each shareholder must pay into the company a minimum of 25% of the par value of their shares. A statutory meeting should be held once the MOA is registered. Background Check & Criminal Records Check. A Guarantee (either cash or cashiers check) to be used as security. Further, for each foreigner working within your company, your company is required to have a registered capital of 2,000,000 THB, i.e. The contributions of both the employer and employees must be remitted to the Social Security Office within the 15th day of the following month. Tags business in Thailand If any of the signatories for the bank account are foreigners, some banks will require each foreign signatory to submit a valid work permit before opening the account. Even if you do not have all of the documents required by the government, TILA Legal will work with you to ensure that your needs are met. After the visa is granted they must come to Thailand and apply for the work permit within 30 days after the WP3 is issued. A Thai limited company must have 2 million Baht of registered capital and four Thai employees for each work permit being issued to a foreigner. If you need some help, please don't hesitate to contact our Virtual Assistant Thailand to run all these for you. Prompt Reliable Affordable. However, in practice you would need at least THB 50,000 to register a company. For example, the term investment cannot be used, but capital can be used. The Social Security Act requires employers to withhold social security contributions from the monthly wages of each employee. As the director of your company you would receive a working visa and a valid working permit. On 1 st April 2005, the Company was converted into . Address of the applicant in the home country. Looking to register a company, mainly doing consulting locally and abroad and need to send invoices. Providing comments on clauses of the sales agreement. So the government fee for forming a Thai business is around 7,000 THB for a 1,000,000 THB registered capital. Opening a Company Bank Account A limited company is a legal person with a registered capital that should be reasonably sufficient to achieve the company's objectives. For a FREE No Obligation Consultation Please Contact Us Today, Phrom Phong BTS Station Exit 1 There minimum capital requirements for a limited company in Thailand is 1 million baht.In general, the registered amount of the capital should be respectable enough and adequate for the intended business operation. What is the procedure for obtaining a Thai recruitment license in the event that my company business is related to recruitment business? Investment may be made with either cash or non-cash assets. A Representative Office may only be established for the following business purposes: Sourcing suppliers of goods or services in Thailand for the head office; Certain terms are also prohibited from being used in company names. The capital has to be at least 25% paid up. Buying a Condominium in Thailand - Information. Thai AirAsia launched domestic operations in February 2004. However, with our assistance, the process is relatively simple and easy, and we will ensure that you retain full control and ownership of your company. If you are a foreigner, we assume that you will need a work permit to run the day-to-day operation of the Thai company, you will need at least THB 2M as the registered capital for each work permit your company will sponsor.