How to Form a Company in Thailand

[pmf113b]

Thinking of forming a company in Thailand and would really appreciate if anyone can recommend agents, companies that can help and assist with this.

Both of the directors will be foreigners.

Are there any companies that can help to form the company either in Chiang Mai or Bangkok

[happydude303]

I need to know this as well so I will wait for the Replies to roll in, along with all the na Sayers

[sharktooth]

David Mills at Abbey in Bangkok can help you. Google him. Setting up a company is a breeze, but setting up a company bank account is not so easy.

[pmf113b]

David Mills at Abbey in Bangkok can help you. Google him. Setting up a company is a breeze, but setting up a company bank account is not so easy.

Thanks for the info I will google him and find out his services.

Have you any idea how much it costs to set up a Thai company for a foreigner????

[bluweyze]

You cannot form a company in Thailand with both directors as non Thai nationals. You must have a minimum of 3 directors and Thai nationals must own 51% of the shares.Owning a company here involves some paperwork, monthly accounts and annual audited accounts. I recommend Kuhn Theera 0811644771, he is in Chiang Mai but if you want nominee Thai directors you are probably better dealing with a Bangkok company but caveat emptor 'buyer beware'.You really need a Thai that you can trust to own 2% of the shares (so you control 51%) and this isn't an opening for people to say that you can't trust a Thai.

[pmf113b]

You cannot form a company in Thailand with both directors as non Thai nationals. You must have a minimum of 3 directors and Thai nationals must own 51% of the shares.Owning a company here involves some paperwork, monthly accounts and annual audited accounts. I recommend Kuhn Theera 0811644771, he is in Chiang Mai but if you want nominee Thai directors you are probably better dealing with a Bangkok company but caveat emptor 'buyer beware'.You really need a Thai that you can trust to own 2% of the shares (so you control 51%) and this isn't an opening for people to say that you can't trust a Thai.

Thank you so much for your information.

Does Juhn Theera help with forming companies and getting necessary paperwork??? Do you have any idea on the costs involved with forming a Thai company???

Can you recommend any company in Bangkok??

I have also been informed that although you have to have 51% in Thai names, you can have it written in your contract that they are classed as "sleeping" partners so don't have any rights to the company, is this correct???

[narkeddiver]

The Bangkok Post has an article related to a potential change in law that will change how nominee companies work - no more sleeping partners by the looks of things

The article was on either Friday or Saturday - unfortunately I don't think we're allowed to link to Bangkok Post articles here

[bluweyze]

You cannot form a company in Thailand with both directors as non Thai nationals. You must have a minimum of 3 directors and Thai nationals must own 51% of the shares.Owning a company here involves some paperwork, monthly accounts and annual audited accounts. I recommend Kuhn Theera 0811644771, he is in Chiang Mai but if you want nominee Thai directors you are probably better dealing with a Bangkok company but caveat emptor 'buyer beware'.You really need a Thai that you can trust to own 2% of the shares (so you control 51%) and this isn't an opening for people to say that you can't trust a Thai.

Thank you so much for your information.

Does Juhn Theera help with forming companies and getting necessary paperwork??? Do you have any idea on the costs involved with forming a Thai company???

Can you recommend any company in Bangkok??

I have also been informed that although you have to have 51% in Thai names, you can have it written in your contract that they are classed as "sleeping" partners so don't have any rights to the company, is this correct???

Kuhn Theera didn't start my company but he has looked after many changes. I know some large companies have complicated share options that control voting rights but I think that is more complex than a simple agreement and MAY be outlawed in proposed legislation. When I first set up my company I had power of attorney over the nominee directors which effectively gave me control although I think that form of control was never strictly legal but this is Thailand.The costs in setting up are all practically the legal costs. It is quite possible to do it yourself with a Thai speaker and I now make all changes myself. It is more than likely that the main shareholders will be visited by the revenue department early after setting up the company. Revenue in CM just love us 'Western' companies so try not to make any mistakes.It is a longtime ago that I used a Bangkok company so I would go with more recent recommendations if that is what you want to do.Don't try buying land in Chiang Mai with non Thai directors and Thai nominees, it might end in tears.

[Chicog]

SunBelt in Bangkok do this as well. Can't say I can recommend them, never worked with them. Caveat Emptor and all that.

http://www.sunbeltlegaladvisors.com/company/company-formation/