What is a Thai Limited Company?
A Thai limited company, particularly a Private Thai Limited Company is the most popular form of business structures inThailand. Due to the fact that not only are the Shareholders’ liabilities limited to the amount of the shares they possess, but a Thai private limited company also allows separation between investor’s body and managerial body.
Section 1096 of the Thai CCC has provided that “A limited company is that kind of which is formed with a capital divided into equal shares, and the liability of the shareholders is limited to the amount, if any, unpaid on the shares respectively held by them”
A Private Thai limited company requires a minimum of three promoters and must file a memorandum of association, convene a statutory meeting, register the Private Thai limited company, and obtain a company income tax identity card.
They must also follow accounting procedures specified in the Civil and Commercial code, the Revenue Code and the Accounts Act. A balance sheet must be prepared once a year and filed with the Department of Revenue and Commercial Registration. In addition, companies are required to withhold income tax from the salary of all regular employees.
Brief procedures to register a Thai company
Thai limited companies are the most common form of business registration inThailand. We are a full service Thai law firm. Let our Thai lawyers provide you with guidance when registering your limited company inThailand. NSI we pride ourselves on not only offering you the best legal service, but as a full service law firm we also offer tax advice and an accounting service.