Open a Limited Liability Company in Thailand
The limited liability company in Thailand is usually formed by means of a minimum of three shareholders and ruled by one director. A very important aspect is that the majority of the board has to belong to persons that have Thai citizenship. Our Thai company formation agents remind you that in this type of company, there are two types of shares: simple shares and preferred shares. Those that possess simple shares have more rights of voting within the company and one director of the two is elected by the shareholders. The shareholders only have the right to vote on the behalf of their percentage, while the directors have the right to vote for the entire Thai company.
- Reserve the company name: investors much check if their chosen company name is available and if it meets the requirements set forth by the Business Development Office.
- Draw up and submit the company documents: the company’s Articles of Association are drawn up and filed to the Registrar, together with a Declaration of Compliance and the relevant information about the company directors.
- Register the company: once all the documents are in place, they are duly submitted for Commercial Registration with the Department of Business Development belonging to the Ministry of Commerce; the registration must take place within 30 days from the day the business started its activities.
- Make the subsequent registrations: LLC will also have to register for tax and VAT purposes and make the necessary submission when hiring employees.
Conditions for establishing a limited liability company in Thailand
Steps for setting up an LLC described by our Thai company registration experts
Limited liability company registration in Thailand is not a difficult procedure. After the name has been registered, all the shareholders must sign a memorandum that contains all relevant information related to shareholders and the company, such as the purpose of business and capital data. Eventually, the memorandum as well will be submitted to the Ministry of Commerce for approval. Opening a limited liability company in Thailand is a process that may last up to 2-4 weeks.
We invite you to contact our team of company registration agents in Thailand for more detailed information about the process of forming a limited liability company. If you need information about setting up a company in another country, such as Serbia, we can put you in touch with our local affiliates.