What Is Involved To Setup A Thai Corporation By A Thai National

[pistonpilot]

I want to setup a company for my wife - Limited Liability - A proper Thai Corporation in her name. What is involved and can I do it here in Pattaya?

[rishi]

I assume you're thinking of a co., ltd.? As far as formation/setup goes it doesn't matter the slightest whether farang ownership amounts to 0.00 or 49%. It's a Thai-company it both cases. The procedures and paperworks are the same. The requirements for registered capital is the same (there needs to be at least seven shares which must have a nominel value - 5 baht on each can make it.

Although the requirements: 1,000,000 baht or 2,000,000 baht registered capital often are mentioned in connection with formation of a 49% foreign owned company - they don't apply to company setup as such - they are requirements for the company to employ one foreigner.

[Sunbelt Asia]

I want to setup a company for my wife - Limited Liability - A proper Thai Corporation in her name. What is involved and can I do it here in Pattaya?

In order to set up a limited company in Thailand, the following procedures should be followed:

1/ Reservation of your Corporate Name

The name to be reserved must not be the same or similar to the name of any other companies. There are names that are not allowed and the name reservation guidelines of the Commercial Registration Department in the Ministry of Commerce need to be observed. The approved corporate name is valid for 30 days. No extension is allowed.

2/ File a Memorandum of Association

A Memorandum of Association must be filed with the Commercial Registration Department. This has to include the name of the company that has been successfully reserved, its business objectives, the capital to be registered, the province where the company will be located, and the names of the seven promoters. The capital information must include the number of shares and the value per share. At the time of formation, the authorized capital, although partly paid, must all be issued.

Although there are no minimum capital requirements, the amount of the capital should be of a respectable amount, and adequate for the business operation to function healthily.

The Memorandum registration fee is 50 baht for every 100,000 baht of registered capital. The minimum fee is 500 baht, and the maximum is 25,000 baht.

3/ Convene a Statutory Meeting

Once the share structure has been decided, a statutory meeting needs to be called, during which the bylaws and articles of incorporation are approved, the Board of Directors are nominated and an auditor selected. A minimum of 25% of the value of each subscribed share must be paid.

4/ Registration

Within three months of the date of the Statutory Meeting, the directors must submit their application to establish the company. The Company registration fees are 500 baht per 100,000 baht of registered capital. The minimum fee is Thai 5,000 baht, and the maximum is 250,000 baht.

5/ Tax Registration

Within 60 days of incorporation, or within 60 days of the start of operations, businesses liable for income tax must obtain a tax identity card and a number for the company from the Revenue Department. Business operators earning more than 1,800,000 baht per annum must register for VAT within 30 days of the date they reach that figure in sales.

www.sunbeltasiagroup.com

[N47HAN]

I want to setup a company for my wife - Limited Liability - A proper Thai Corporation in her name. What is involved and can I do it here in Pattaya?

In order to set up a limited company in Thailand, the following procedures should be followed:

1/ Reservation of your Corporate Name

The name to be reserved must not be the same or similar to the name of any other companies. There are names that are not allowed and the name reservation guidelines of the Commercial Registration Department in the Ministry of Commerce need to be observed. The approved corporate name is valid for 30 days. No extension is allowed.

2/ File a Memorandum of Association

A Memorandum of Association must be filed with the Commercial Registration Department. This has to include the name of the company that has been successfully reserved, its business objectives, the capital to be registered, the province where the company will be located, and the names of the seven promoters. The capital information must include the number of shares and the value per share. At the time of formation, the authorized capital, although partly paid, must all be issued.

Although there are no minimum capital requirements, the amount of the capital should be of a respectable amount, and adequate for the business operation to function healthily.

The Memorandum registration fee is 50 baht for every 100,000 baht of registered capital. The minimum fee is 500 baht, and the maximum is 25,000 baht.

3/ Convene a Statutory Meeting

Once the share structure has been decided, a statutory meeting needs to be called, during which the bylaws and articles of incorporation are approved, the Board of Directors are nominated and an auditor selected. A minimum of 25% of the value of each subscribed share must be paid.

4/ Registration

Within three months of the date of the Statutory Meeting, the directors must submit their application to establish the company. The Company registration fees are 500 baht per 100,000 baht of registered capital. The minimum fee is Thai 5,000 baht, and the maximum is 250,000 baht.

5/ Tax Registration

Within 60 days of incorporation, or within 60 days of the start of operations, businesses liable for income tax must obtain a tax identity card and a number for the company from the Revenue Department. Business operators earning more than 1,800,000 baht per annum must register for VAT within 30 days of the date they reach that figure in sales.

www.sunbeltasiagroup.com

Thx Sunbelt

P.M me ( office in Phuket? )have 9 days left on company name reg. approval !( 6th sept )

[frenchFARANGbkk]

I want to setup a company for my wife - Limited Liability - A proper Thai Corporation in her name. What is involved and can I do it here in Pattaya?

In order to set up a limited company in Thailand, the following procedures should be followed:

1/ Reservation of your Corporate Name

The name to be reserved must not be the same or similar to the name of any other companies. There are names that are not allowed and the name reservation guidelines of the Commercial Registration Department in the Ministry of Commerce need to be observed. The approved corporate name is valid for 30 days. No extension is allowed.

2/ File a Memorandum of Association

A Memorandum of Association must be filed with the Commercial Registration Department. This has to include the name of the company that has been successfully reserved, its business objectives, the capital to be registered, the province where the company will be located, and the names of the seven promoters. The capital information must include the number of shares and the value per share. At the time of formation, the authorized capital, although partly paid, must all be issued.

Although there are no minimum capital requirements, the amount of the capital should be of a respectable amount, and adequate for the business operation to function healthily.

The Memorandum registration fee is 50 baht for every 100,000 baht of registered capital. The minimum fee is 500 baht, and the maximum is 25,000 baht.

3/ Convene a Statutory Meeting

Once the share structure has been decided, a statutory meeting needs to be called, during which the bylaws and articles of incorporation are approved, the Board of Directors are nominated and an auditor selected. A minimum of 25% of the value of each subscribed share must be paid.

4/ Registration

Within three months of the date of the Statutory Meeting, the directors must submit their application to establish the company. The Company registration fees are 500 baht per 100,000 baht of registered capital. The minimum fee is Thai 5,000 baht, and the maximum is 250,000 baht.

5/ Tax Registration

Within 60 days of incorporation, or within 60 days of the start of operations, businesses liable for income tax must obtain a tax identity card and a number for the company from the Revenue Department. Business operators earning more than 1,800,000 baht per annum must register for VAT within 30 days of the date they reach that figure in sales.

www.sunbeltasiagroup.com

Hi,

Are the rules still the same in 2008 ?

That kind of company can be made to buy apartments and rent them ?

Thanks.