A company limited is a juristic person that can protect you in term of debt, when the company conclude in any agreement or do any legal action, it will be done on behalf of the company, the one who will liable is the company, the director nor shareholder has to responsible in any of the damage except in some circumstance that the company do out of scope of their objective and no shareholder ratify the action.
Minimum Requirement
- Three promoter and shareholder – it can be Thai or foreigner, but only natural person can be a promoter. For shareholder, it can be a juristic person. But when Foreigner is majority (more than 50%), foreign business license required before do any business. The promoter can be shareholders.
- One director – the company must have at least 1 authorize director who will sign any if document on behalf of the company when the director is a foreigner, a work permit and visa is needed.
- Minimum capital – the minimum capital should be 2 million thb 100% paid up.
- Company address – to reach the company, you need a physical or virtual address to register the company.
To register a company, you have to think carefully on
- Business Objective – you have to think carefully about your purpose of the business because the company can do only what include in your business objective when the company do out of scope the liability will belong to the directors.
- Share Structure – there are 2 types of share, the first is ordinary share which is the normal share has 1 share = 1 vote, the another type is preferred share which is the share that has rights not same with normal share mean it can be 10 share per 1 vote.
- Visa and Work permit – every foreigner work in Thailand need to have a Non-B Visa and Work permit to be legally work in Thailand. The general condition per one foreigner in the company is 2 million capital paid up and 4 Thai employees registered in SSO system.
- License – some business in Thailand such as tourist, healthcare, or food and beverage services cannot operate without a license. Some of the license you need to get before register it as objectives of the company, some do you and some license required specific number of Thai shares structure and directors.
Working processes
- Name reservation – Every business has a name, firstly you have to book your company name in the system. There is some restriction regard to the name, you cannot use the name that lead to confusion of the people such as institution or wording like school you have to get the license first but mostly you can book. Usually the process of booking and get approve is 1 working day, but when your company name cannot pronounce by English pronunciation, you have to submit a letter to DBD to get approval.
- Get your company information – To register a company, there are some information that we have to get and write on the application. The information is your company objective, director’s information, share structure, auditor detail, address, and your company seal.
- A short meeting to kick off and sign the documents – When we get your brief information, we would like to have a short meeting with the client to make clear understanding on registration process, business objective, legal risk, and sign the application.
- Submit the application – the submission and approval use 1 working day to finish when the registration is complete you can start your business by using your company name on that day.
