Easy & Quick Company Formation in Thailand
Why Start Your Company in Thailand?
Company formation in Thailand is popular among business people due to its free-enterprise economy, strong export industry, pro-investment policy, cost-effective workforce and excellent infrastructure. Its economy is heavily dependent on export which makes for two-thirds of its GDP. Two other important sectors are the industrial sector and the service industry. Additionally, it is the second largest economy in South-East Asia. We at S K Patodia & Associates help you with your Thailand company formation in a hassle-free manner by providing guidance at each step.
Procedure for Company Formation in Thailand
- Reserving a company name with the Business Development Office at the Ministry of Commerce
- Filing the Memorandum of Association with the Business Development Office
- Depositing the registered capital in the bank account
- Convening a statutory meeting
- Submitting the application to register the company
- Obtaining a corporate seal
- Opening the bank account
- Obtaining a tax ID No. from the revenue department
- Registration under the social security act
- Registration with the Value Added Tax or Specific Business Tax, if required
Requirements for Opening a Company in Thailand
Basic Requirements for Company Formation in Thailand
- Minimum 3 Shareholders (any nationality)
- Minimum 1 Director (any nationality)
- No minimum capital requirement
- Registered local office address
Documents Required to Open a Company in Thailand
- Copy of passport of the Shareholders and Directors
- Copy of Company’s Memorandum and Articles of Association
- Company’s bylaws
- Director’s resolution for opening the bank account
Our Services for Company Registration in Thailand
- Checking for name availability and reserving the same
- Electronic Notice of Incorporation in PDF
- Electronic Memorandum & Articles of Association in PDF
- Electronic Business Profile in PDF
- Common seal, Share certificates, statutory registers/minutes
- Minutes of first Directors' meeting
- Directors' resolution for bank account opening
- Services for local registered address
- Arranging the appointment with the Local Bank for opening of corporate bank account
- One set of Certified True Copies for opening of bank account
Time Period for Registering a Business in Thailand
It takes approximately 29 days for company registration in Thailand.
Advantages of Setting up a Company in Thailand
- The export sector enjoys exemption from excise duties, customs and VAT.
- Companies in the Thai free zone enjoy a tax exemption of 100 percent for a period of eight years.
- It has a business friendly environment in terms of low-cost workforce and rental places.
- Companies that have been approved by the Thailand Board of Investment enjoy numerous tax benefits.
- It has a stable political and social environment.
- There is no minimal capital requirement to register a company in Thailand.