Understand the Jurisdictions Setup Requirement Before Proceed Your Thailand Company Formation
If you are interested in Thailand company formation, then you have landed on the right page. At 3E Accounting, we specialize in helping both local and foreign investors set up their preferred legal entities so that they can maximize on the potential of the business opportunities in Thailand. Irrespective of your business goals, or preferred investment vehicle, we have the right accountants, tax experts, and attorneys to make the process of company incorporation a breeze for you. Call us now and discover how our services can help you get started smoothly in Thailand.
Why Invest in Thailand
As far as foreign investments are concerned, Thailand is attractive for many reasons. If you are wondering if it is the right investment destination for you, here are a few compelling reasons why starting a business in Thailand may be such a great idea-:
Full Support From the Thai Government – The Thai government has put in place a variety of investment policies that favour foreign investment in the country. Gone are the days when crop production was the primary source of income for the Thai people. Currently, the government welcomes investors to come and exploit the various opportunities available in the economy. And in so doing, the population can increase diversity from just focusing on crops alone. Besides, Thailand is blessed with a lot of natural resources, and with an economy that is on a very strong ascent, more prosperity is expected in almost all the sectors of the economy.
Gateway to Asia – Thailand’s strategic location opens a lucrative gateway to one of the largest growing economies in the world – Asia. From Thailand, access to markets in Southeast Asia as well as the greater Mekong sub-region is easy. This implies that businesses can easily penetrate deep into the emerging markets in the region. From Thailand, doing business with countries such as India, China, and others in the ASEAN economic block becomes a breeze.
Social and Political Stability – Social and political stability is vital for the growth of any economy, and Thailand has one of the best social and economic structures in the world. The country is known to be a very welcoming Buddhist nation. It has a constitutional monarchy government that allows for democratic processes and reforms for both political and economic stability. This, in addition to the friendly foreign investment policies, has made the country a good target for any investor keen on investing in places with sound political and economic atmospheres.
Good Infrastructure – Thailand’s infrastructure is good for foreign investors. The country enjoys upgraded communication and IT networks, and modernized transportation facilities. All of these contribute toward creating a favourable business and living environment.
Types of Legal Entities in Thailand
When you decide to go to Thailand company formation, there are several legal entities you can choose to incorporate. Our business incorporation executives in Thailand will accord you the necessary guidance you need so that you choose the most appropriate entity that will enable you to meet your goals for doing business in Thailand. But that notwithstanding, here is a brief look at some of the business entities you can potentially register in Thailand-:
- Private Liability Limited Company – forming a private limited liability in Thailand requires a minimum of three shareholders and one director. The founders can be either Thai nationals or foreigner, and they must at least own a share of the company.
- Public Limited Company – for this, there has to be a minimum of 15 shareholders. Though there are no restrictions on the nationality of the shareholders, the law requires that more than half of the founders must be Thai nationals. Again, at least 50% of the shares noted in the Memorandum of Association must be made public.
- Branch Office in Thailand – a branch office is an extension of a foreign company in Thailand, and it is a separate legal entity as far as the Thailand company formation laws are concerned. The operations of a branch office in Thailand are directed by the operations of the foreign parent company, and it is also subject to all the taxation laws in Thailand.
- A Representative Office – a representative office is not subject to taxes in Thailand, and it cannot engage in any commercial services or raise any income in the country.
The Company Formation Process in Thailand
Below is a brief of the Thailand company formation process. At 3E Accounting, our company incorporation specialists can offer assistance with all the paperwork involved in all the stages of incorporation. They include the followings:
- Choosing the type of the company and a unique company name
- Creating the company’s constitutive documents
- Registering the company with the Department of Business Development and the Thai Revenue Department
- Opening a bank account and depositing the required minimum share capital
- Obtaining other relevant licenses, including sector-specific licenses.
Don’t feel overwhelmed or confused with any of the above steps. We can help you with the entire process so that you have to relax and wait for your fully incorporate a business. Contact us today for more information about our Thailand company formation processes.