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How to Set Up a Thai Limited Company

Transcript of the above video:

As the title of this video suggests, we are discussing Thai Limited Companies and the specific question of "How does one go about setting up a Thai Limited Company?"

Well that is going to depend on the circumstances of the case, given but generally speaking you have got to deal with getting the shareholders in line, dealing with the relevant meanings associated with the promulgation of the company. Then after the shareholders are decided you have got to deal with getting the directors decided upon, filing all the relevant paperwork with respect to the Department of Business Development. There are also going to be aspects associated with choosing a corporate name, making sure that name is not substantially similar or exactly like another corporate name that is already in the database. Then, after registration you have to go ahead and the tax number is going to be issued and some things of this nature. Documentation pertaining to the Corporation will be issued; a corporate certificate, an Articles of Association type document, documentation pertaining to who has signing authority with respect to the Directors of the Company will come about as a result of promulgating a new Thai Company here in the Kingdom.  

Generally speaking, the formalities associated with Thai incorporation here in the Kingdom are substantial when compared to for example in the United States. Certain States allow one to go online, simply form a Limited Company in a matter of minutes by simply going on it is almost like an online questionnaire to fill out the documents associated with becoming for example a Limited Liability Company or an LLC. Thailand is much more complex compared to the United States with respect to issues associated with incorporation so trying to sort of graph the paradigm that one would use when looking at US companies or Canadian companies or Companies in England or Australia is not really a good idea. They are kind of similar to C-corps, corporations, incorporated entities in the United States but even then not all the similarities add up exactly. In certain ways they are kind of almost old school when we look at them from the perspective of the types of entities that are now allowed for example in the US. The Thai corporate structures are much more formal. The documentation associated with them is much more extensive and corporate maintenance is also an issue especially with respect to things like work permits, corporate compliance etc.

So the thing to take away from this video is it is possible to set up a Thai Limited Company. Generally speaking it can be done in a relatively short period of time but the process is markedly different when comparing it to a process in a western country or an English-speaking country because there aren't really full parallels between the two corporate systems in those types of jurisdictions and Thailand.