A Step-by-step Process for Thailand Company Registration You Must Follow
If you’ve been looking for a great place to invest your business, you need to think about Thailand. Thailand company registration begins with the name reservation with the Ministry of Commerce. Here is where the Registrar will conduct the verification process that no similar company name exists and does not contravene the ministerial regulations. 3E Accounting service provider will grant you the opportunity to fasten the process of registration. As an award-winning company, 3E Accounting will assist you in business solution services from:
- Corporate secretarial and human resource
- Auditing and Taxation services
- Accounting and legal services
- Incorporation services
When it comes to the business name, there are specific restricted terms to use. For instance, you cannot use the term “investment” in your company name. Remember, even if your name is in English, it will reserve in the Thai language.
The next step when it comes to Thailand company registration is the filing of the Memorandum of Association. Your company’s Memorandum of Association sets out in bold the agreement of the founder/promoter of the company. Within the Memorandum you must ensure that you have the following:
- Your proposed company name
- The location of the registered office
- The company’s objectives
- A declaration of limitations as to the liability of the shareholders
- The intended amount of share capital set for registration
- The names and addresses together with the signatures of the founders/promoters
Before filing the Memorandum, you must ensure that the promoters sign it and certified with two witnesses.
According to the Company Act, as soon as you register the Memorandum of Association you must organize a statutory meeting whose main purpose is to:
- Accept the rules and regulations of the company (Articles of Association)
- Endorse any contracts got into by the founder/promoter or expenses incurred by the founders in endorsing the company
- Fix the number of preferences (if any) and ordinary shares to be assigned as fully or partly paid up.
Once the statutory meeting is organized and done, you can complete Thailand company registration application the same day the Memorandum of Association is registered. The law requires that the application for registration lodged no later than three months from the time of the statutory meeting.
Registration as a taxpayer is one of the statutory requirement for anyone starting a business. The moment company registration process is complete; you have 60 days to apply for a corporate Tax ID card and the VAT Certificate from the Revenue Department. The tax ID card will assist you in opening a corporate bank account. In the event a foreign director has no work permit, then the bank will request that a Thai Director co-signs the application documents for corporate bank opening.
3E Accounting will assist you in the process of preparing the necessary documents to open a corporate bank account. For a work permit, you must first possess a Non-immigrant visa. Further, our team will assist you in the application by submitting all the required documents to the Department of Labor on your behalf. Contact us for more information.