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Secretarial Services for a Company Registered in Thailand

Transcript of the above video:

In this video, I'm going to briefly discuss matters pertaining to corporate secretarial services here in Thailand. The first question most laymen have is what are we talking about with respect to corporate secretarial services? Well, what we're talking about is things like drafting shareholder meeting resolutions, drafting and assisting with the promulgation of shareholder meeting minutes, director meeting minutes, director meeting resolutions, just the general sort of back office administrative secretarial paperwork that just comes part and parcel with doing a business in the Kingdom of Thailand especially in a limited company structure.

Now it should be noted that Thai limited companies, at least in my opinion, I'm an American attorney and to be clear, I'm not a Thai attorney. I'm not a Thai licensed legal professional. I have counterparts here in the office, they deal with Thai legal matters. They're licensed attorneys, lawyers, accountants. These individuals are going to go ahead and deal with these matters much more in-depth than something like me. But that being said, I can sort of provide an overview and assist in liaising foreign clients in understanding how this stuff works. But you know in excess, Thailand's corporate formalities and the rules that pertain to Thai corporations are very formalistic when compared to say, similar bodies of law and say the United States or the United Kingdom. In fact, formalism maybe not quite the right word.

Thailand likes to see a large number of records pertaining to the doing of business within a limited company and for that reason having Thai legal professionals and accounting professionals who can maintain records related to the doing of business of the Thai company is essential. These records are going to be necessary when dealing with all manner of things that pertain to business. For example, certain resolutions, shareholder meeting minutes etc. are going to be required for things like opening and closing Thai bank accounts related to corporate matters things. In certain circumstances even deciding of certain kinds of checks or for certain amounts of money on corporate checking accounts, depending on the resolutions of the company, it may require even shareholder countersignature for such things to be dealt with. In some cases, it may require one or more directors to sign off specifically on certain kinds of checks. Even the issuance of certain types of tax invoices may require specific director’s signature pursuant to either the corporate resolutions of a company or even just simply the revenue code depending on the specific circumstances of that case.

The long and the short of it is there's not an insignificant amount of administrative and secretarial matters that are going to come up as a result of running a Thai business. And for that reason, having corporate service providers and secretarial service providers who understand the sort of dynamics of these things and can assist in keeping that administrative flow of administrative paperwork moving along smoothly, that can be a real boon and a real benefit to those who are just seeking to do some business here in the Kingdom. So for that reason, it may be a good idea to go ahead and contact competent professionals to assist in such matters as doing so can greatly reduce the amount of stress in administration that has to be dealt with internally by a company here in Thailand.