Sole Proprietorship in Thailand

Updated on Monday 14th May 2018

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The sole proprietorship in Thailand is the simplest business form. It is owned and operated by a single individual, the proprietor, who enters the business with all of his assets. This is a recommended option to all businessmen who wish to enter the market and begin their business activities by operating a small one-man business. 

The sole trader has a number of advantages but also some precautions because of its unlimited liability characteristics. Our specialists in company registration in Thailand can provide you with suitable information in this matter, in order for you to start a business.

We invite you to watch the following video on the main traits of the sole trader:

 

The characteristics of the sole trader in Thailand

A sole trader or a sole proprietor is a simple business form with lighter taxation, accounting and reporting requirements than partnership or corporations. However, investors should be well aware of the liability implications.
 
Our team of Thai company formation agents highlights the main characteristics of the sole trader in the list below:
 
  • a single-man business: the defining trait of the sole proprietorship, this is a simple business form that is owned by one person who has unlimited liability.
  • it can engage in any business: some types of business activities will require that the sole trader is registered with the local District Office for that particular activity; however, service-related businesses are not required to do so.
  • the sole trader can be the owner of the registered office: the sole trader should have a registered office in Thailand, however, due to the simple nature of the business, the proprietor can also be the owner of the property.
  • income treatment: the income derived by a sole trader will be treated and taxed as personal income, up to a certain profit amount per year.
  • special VAT conditions: the sole trader needs to obtain a VAT certificate only if the business has an annual income that exceeds 1,800,000 Bhat.
 
Our company registration agents in Thailand are able to offer the necessary information and guidance, in order for you to properly open a company in Thailand.
 

Register a sole proprietorship in Thailand


First of all, overseas businessmen who wish to establish a sole proprietorship in Thailand need to obtain a work permit, according to the Immigration and Labor Law in the country. American citizens who wish to do business in Thailand have the right to 100% ownership, due to the US – Thailand Treaty of Amity and Economic Cooperation signed in 1968.

It is good to know that our experts in company registration in Thailand can offer detailed information on this matter. In order to properly function, the commercial activities of a sole proprietorship in Thailand need to be registered at the local District Office, and the following documents are necessary:

•    a signed copy of the house registration book of the business address;
•    the map of the business address;
•    the taxpayer number;
•    the VAT certificate;
•    the registration application form.

The sole trader can be a popular business form among Thai entrepreneurs. Non-Thai individuals who are married to a Thai national can open a sole trader in their name. one of our agents can give you more information about the advantages of opening a sole trader and can offer you complete advice regarding the most suitable business form for your needs.

If you have questions about the sole proprietorship or about the company registration procedure in Thailand, you are invited to Royalgames.com: Games Onlinecontact us.

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