So, you are ready with a new business plan! Well, that’s amazing. Now you might be looking for setting up a new company in Thailand. After all, this place offers all amazing facilities for profitable business investment to foreigners.
But before you take the first step towards this journey; it is important to know some details about how to register a company in Thailand. Below we have provided information about various incorporations in Thailand. However, in order to choose the best option out of this, you may first need to collect details about company laws in the country. Note that it takes some time to set up a new company in Thailand. You can take help from some experienced lawyers or company registration service providers to complete the task on time.
Possible choices for company registration in Thailand:
It is the most suitable choice for foreigners that are interested in setting up a business in Thailand. In Limited Companies, the shareholders are allowed to own very small amounts of unpaid shares that they hold in the company. Also, all company directors are permitted to apply for the work permits in the area.
As per business setup laws in Thailand, it is possible to register your new business as a Limited Company by simply dividing the overall capital funds into shares. The registration task can be completed only when at least three company promoters and shareholders are available. And in this case, shareholder and promoter can also be the same person. With this, it becomes easier to proceed for company registration in Thailand.
Board of investment promotions:
In case if you are one of those business owners that wish to become the complete 100% owner of the company; it is better to move ahead with the Board of Investment (BOI) option in Thailand. Companies that are promoted with the help of BOI are able to get work permits and visas with ease. Also, they need not pay corporate taxes. But it is important to understand that all businesses cannot be registered under this category. BOI has a unique list of categories that it follows for company registration.
When we call it a sole proprietorship; it means the respective registered company has only one owner and the same person is the operator as well. It is permitted for foreigners to do business under this category; however, it appears a little harder to incorporate of the organization doesn’t fit into the criteria.
Last but not the least option for company registration in Thailand is a partnership. You can look for three different choices in this category; they are limited partnerships, registered ordinary partnerships, and unregistered ordinary partnerships. All these options come with their unique pros and cons; the new business owner needs to make a careful decision about which one to choose. Once you are ready with the most suitable option, it is time to consult authorities in the city to move ahead with defined procedures.
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