13/02/2024
Hi everyone.
If you’re interested in setting up a company in Thailand. You might need to know this.
We are Bring Forth Consulting Company. We are here to help you setup and grow your business in Thailand. Contact us for more details.
We provide service for setting up limited companies (for foreigners)
Details and documents required for setting up a company:
-Company name
-Copy of household registration at the main office address of the company
-Letter of consent to use the premises and copy of the ID card of the homeowner at the main office address of the company (in the case where the homeowner is a legal entity, a company certification letter and a copy of the ID card of the authorized signatories in the company documents must be attached)
-Objectives of the company
-Registered capital, number of shares, and value of shares of the company as specified
-Copy of ID card (Thai nationals) or copy of passport (foreigners), details of address, and number of shares purchased under the name of each shareholder (must have at least 3 persons) and the signatures of all founders
Note: In the case of registering a new business, if the registered capital exceeds 5 million baht, there is a requirement to show investment funds in full within 12 days according to the amount of registered capital.
In the case of foreigners investing in a limited company or foreigners authorized to act on behalf of the company, all Thai shareholders must submit evidence of investment funds consistent with the amount paid by each shareholder, including:
-Copy of bank deposit passbook or copy of bank account statement for the past 6 months or
-Documents issued by the bank to certify the financial status of the shareholders or
-Copy of evidence showing the source of funds used to pay for shares
In the case of joint investments between Thais and foreigners, Thai founders must have a bank certification for the amount of joint investment funds.
The registration cost of the company depends on the specified capital of the business.
For companies that need to apply for a Work Permit:
- Registered capital of 2 million baht per foreigner
- Must have 4 Thai employees per foreign employee
For limited companies, a single foreign individual or multiple foreign individuals together can hold or be a partner in shares up to 49% of the registered capital. One or more Thai nationals together must hold or be partners in shares of not less than 51% of the registered capital of the limited company.
** If held by foreigners 100%, an additional license application (BOI or foreign business license) is required to operate the business.
A limited company with foreign individuals as directors or company directors with the authority to sign names and stamp the company, to manage the company, can have one or more individuals (Thai nationals may or may not be involved). One person can sign the name and stamp of the company, or multiple persons can sign together and stamp the company, as agreed upon.
If this sounds like a lot of work for you, let us help you out with this process. DM for a 45-minute free consultation!
