There are several requirements for company registration in Thailand. The minimum capital required is 15 Baht. There are also various government fees and charges. Read on to learn more about company registration in Thailand and how to register a Thai company. In addition, we’ll go over how to open a bank account in Thailand.
Minimum Capitalization
In Thailand, there is no minimum capital required for company registration. If you have a limited company, the minimum capital is THB 1M. Companies that are at least 51% Thai-owned can register with less capital. There are some requirements, however, when it comes to minimum capital.
If you intend to incorporate a Thai company with more than 50% Thai-owned shares, the capital must be at least Baht two million. Foreign employees who are Thai nationals can register with Baht one million, but this amount applies only to foreign employees who are married to Thai nationals. In addition to the required capital, the company must pay the Thai government a fee of 12,000 Baht for the first two million Baht of registered capital, plus Baht 6,000 for each additional million.
Requirements for Company Registration
The first step of company registration in Thailand is completing the company’s application form. Once completed, it must be submitted along with other necessary documents. Those documents include a list of shareholders and a signed declaration of business operation form. The new company owner is also issued a tax ID number and VAT certificate. After the company has registered, it must file various documents with the registrar of the Department of Business Development of the Ministry of Commerce.
The next step is to write the articles of association (MOA). These documents will state the name and address of the company. You will also need to pay stamp duty, which will vary depending on the type of document.
Costs of Company Registration
The costs of company registration in Thailand will vary depending on the type of company you want to set up. The minimum share capital required is one million baht. The company must also have a registered address and a shareholder’s registration book. Other costs you may incur include stamp duty, which is typically around 400 THB.
The fees for company registration in Thailand will be Baht 7000 for a company with a capital of one million baht, and Baht 35,000 for a company with a capital of three million baht. If you decide to incorporate in Thailand, it’s important to remember that a local shareholder must own the majority of shares. If you’re planning to hire foreign employees, be sure to discuss this with your consultant.
Requirements for Opening a Thai Bank Account
There are certain requirements that foreigners must meet in order to open a bank account in Thailand. Usually, these are a passport, a work permit or a letter from your employer verifying your Thai address. You should also have proof of your residency in Thailand, such as a utility bill or driver’s license. Most banks also require a minimum deposit of several thousand baht.
A business bank account in Thailand is vital for a foreign company that wants to register a company in the country. While it is possible to open a business bank account without a local Thai bank, this is generally not the best choice. Having a Thai bank account is the best way to facilitate safe and easy money processing for a foreign company.