Is there any restriction on the name of a private limited company (“company”) in Thailand?
A:
Yes, the name of Thailand company must end with the word “Limited”. Also, it cannot be identical/similar to any company name that already registered with the Ministry of Commerce.
Q:
Can a company in Thailand be 100% owned by foreigners?
A:
In general, foreigner participation in Thailand company is allowed up to a maximum of 49% capital shares. Otherwise, it will be treated as foreign investment company that the business activities is greatly limited by The Foreign Business Act. However, the company can still be fully owned by foreigners through applying foreign business license, promotion program under Board of Investment or under the US – Thailand Treaty of Amity.
Q:
How long does it take to register a company in Thailand?
A:
It mainly depends on corporate structure and proposed business activities. In general, it takes around 6-14 working days.
Q:
What are the responsibilities of promoters of a company in Thailand?
A:
Promoters are responsible for registering the company with the Ministry of Commerce, convening a statutory meeting, and handing over the business to the directors.
Q:
How many promoters are required to register a company in Thailand?
A:
The company should have at least three promoters.
Q:
Are there any restrictions on promoters?
A:
Promoter should be natural person. No restriction on nationality.
Q:
How many shareholders are required of a company in Thailand?
A:
The company should maintain at least three shareholders for all time.
Q:
Are there any restrictions on shareholder?
A:
No, shareholder can be natural person or corporate. Also, no restriction on nationality.
Q:
How many directors are required of a company in Thailand?
A:
The company should appoint at least one director.
Q:
Are there any restrictions on director?
A:
No, director can be natural person or corporate. Also, no restriction on nationality.
Q:
What are the minimum capital requirements to register a company in Thailand?
A:
A company does not have minimum share capital requirement unless hiring foreign staffs. However, the minimum value per share is THB5.
Q:
Is it mandatory for a company in Thailand to have a bank account?
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The name of Thailand company must end with the word “Limited”. Also, it cannot be identical/similar to any company name that already registered with the Ministry of Commerce. In general, foreigner participation in Thailand company is allowed up to a maximum of 49% capital shares. Otherwise, it will be treated as foreign investment company that the business activities is greatly limited by The Foreign Business Act.
