When you have a company in Thailand but no operation, you can decide to close the company which earlier you decide, lower the cost you get.
The required process to close the company is you have to close financial report od every year since the first year of the registration and clear all debt until the remain debt is 0. Otherwise, your creditor will object your closure.
Below is the key question you have to ask when you want to close the company
- Do you necessary to have a legal entity in Thailand?
- Do you have any remain debt?
- Do you pay all taxes and government duty?
- Except the official address rental, do you terminate of all the contract obligation?
- Do you submit all of financial report of all year since registration?
If yes, your pre-closure condition is met, then can proceed the closure.
The closure processes
- Answer and figure out the preliminary condition,
- Submit application form for the company dissolution
- Make an audit report at the time of closure
- Submit the liquidation application
Duty of the liquidator
When you decide to close the company, the company must appoint a liquidator to clear all debt and asset. Duty of the liquidator is same as the company’s director, he or she need to responsible for all debt and asset management until the company close