Connect with us

Business

How To Register A Company In Thailand: A Step By Step Guide

Avatar of Freelancer

Published

on

Register A Company In Thailand

The Thai economy has seen exponential growth in the past few years. As such, more investors want to Register A Company In Thailand. Both the locals and foreigners are interested in conducting business. The government supports foreign investors to ensure they achieve their dream and boost economic performance.

As a norm, it is vital to register your business to receive full government support and avoid losing your position in the market. Registration of a company also helps you to shift all business liabilities from yourself.

This post identifies the steps you must follow when Register A Company In Thailand. They will help you ensure success and the peace of mind you need to grow your business.

1. Find a Business Name

How To Register A Company In Thailand: A Step By Step Guide

Pixabay

The first step is to find a unique and easy-to-identify name for your company. Ensure the authorities approve the chosen name before using it. This step helps you avoid losing time later on when making filings with relevant institutions or registering your business online. Also, consider if the name contains any words that might be offensive to anyone, such as race, gender, or religion.

The name should have a maximum of 35 characters and not contain any numbers. Also, ensure the name does not resemble that of other businesses. Competitors may have registered their companies with similar names.

Keep in mind that the authorities will not approve your business name if it contains misleading words such as a name that implies that you are an affiliate to an existing business or if it is the same as another registered company.

When choosing a Thai name for your business, be sure to select one that conforms with public policy and standards in Thailand. Avoid words related to national security, law enforcement agencies, religion, royalty, state officials, and government.

The best way to find a name for your company is by searching the web and requesting suggestions from family, friends, or colleagues you might have worked with.

2. Decide on Business Type

Thailand does not have a complex business registration process. Whether you are an individual or a company, the basic steps to follow will remain unchanged. However, your chosen type of business will have specific requirements.

There are three main classifications under which all businesses fall into:

3. Conduct Statutory Meeting

How To Register A Company In Thailand: A Step By Step Guide

Pixabay

A statutory meeting is a mandatory process where all company owners must sign the relevant documents and submit them to the authorities. The meetings take place every quarter or annually, depending on how frequently your business runs. Such considerations include if it operates daily or weekly.

The documents that you will need for the meeting include:

  • Power of attorney form filled by each shareholder authorizing another person to represent them if and when they cannot attend the meeting.
  • Company registration paper signed by all shareholders.
  • MOU signed by all parties during the formation of the business.
  • Application for registration form.

If some members cannot attend the meeting due to any reason, such as illness or death, they will need the power of attorney forms filled by another person who can represent them in their absence.

4. Submit Documents for Registration

 

After filling all the documents listed above, you must submit them to the authorities for final approval. The registration process is only complete after you receive a company registration number (CRN) and an official copy of your business registered along with its name.

Ensure everything on file matches what you submitted because missing or incorrect information can cause delays in getting approvals.

5. Open a Bank Account

You must have a bank account to receive payments from customers or suppliers, among other business transactions. Ensure you use your registered company name when opening the account. It must appear on all transactions, including making withdrawals, deposits, and transfers.

The bank may require additional documents depending on what type of business you are running, such as an LLC or GP, and the number of shareholders. If you are reviving the company, you can file dormant accounts easily and reuse them for operations.

6. Register for Tax Identification Number

How To Register A Company In Thailand: A Step By Step Guide

Pixabay

You are required to have a tax identification number when starting your business. Ensure you acquire the correct one that matches your chosen type of business or structure as outlined above.

You must also register for Value Added Tax (VAT) and withholding taxes depending on what best suits your operation. You have up to 60 days from the date of approval to complete your tax registration.

7. Register for Social Security

In Thailand, a company with at least one employee must register for social security. Register A Company In Thailand within 30 days of operation approval. Your employees will receive benefits, and they will have their social security contributions deducted from their salaries.

Employers who fail to Register A Company In Thailand for social security are liable to pay a fine or face legal consequences. The outlined penalties include a fine not exceeding five-thousand-baht, imprisonment for a term not exceeding three months, or both.

Conclusion

Register A Company In Thailand process is relatively simple. Ensure you follow all the steps outlined above to avoid delays in starting your company operations. If you have any questions about the process, contact a government official or visit their website for additional information on available resources.

 

People Also Read:

A Beginner’s Guide To Grow Your Business In Thailand
Gojek Clone to Offer the Best all in One on Demand Solution in Thailand
Continue Reading
Advertisement

You Should Also Check

Recent News

Beat the Odds

Volunteering at Soi Dog

Ads Block Detector Powered by codehelppro.com
Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.