How to Form a Company in Thailand
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STEP 1: CORPORATE NAME RESERVATION
The name to be reserved must not be the same or close to that of other companies. Certain names
are not allowed and therefore the name reservation guidelines of the Business Development Office
in the Ministry of Commerce should be observed. The approved corporate name is valid for 30 days.
No extension is allowed.
STEP 2: FILING OF MEMORANDUM OF ASSOCIATION
A Memorandum of Association to be filed with the Business Development Office must include the
name of the company that has been successfully reserved, the province where the company will be
located, its business objectives, the capital to be registered, and the names of the seven promoters.
The capital information must include the number of shares and the par value. At the formation step,
the authorized capital, although partly paid, must all be issued. Although there are no minimum
capital requirements, the amount of the capital should be respectable enough and adequate for the
intended business operation.
STEP 3: CONVENE A STATUTORY MEETING
Once the share structure has been defined, a statutory meeting is called during which the articles of
incorporation and bylaws are approved, the Board of Directors is elected and an auditor appointed.
A minimum of 25 percent of the par value of each subscribed share must be paid.
STEP 4: REGISTRATION
Within three months of the date of the Statutory Meeting, the directors must submit the application to
establish the company. Company registration fees are 500 baht per 100,000 baht of registered
capital. The minimum fee is 5,000 baht; the maximum is 250,000 baht.
STEP 5: TAX REGISTRATION
Businesses liable for income tax must obtain a tax I.D. card and number for the company from the
Revenue Department within 60 days.