Requirements for the establishment of the Thailand Foundation

In Thailand, foundations aim at charitable organizations of public interest, religion, art, science, literature, education or other public interest. However, to start work, the foundation must be registered with the Thai government. Therefore, the foundation must comply with the rules established by the Ministry of the Interior. Once the requirements are met, the foundation can apply for certification.

Requirements: The Foundation should be structured according to the instructions of the Ministry of the Interior. Therefore, the following requirements apply.

1.) Naming Requirements: First, the name cannot be too similar to existing funds (the similarity is determined by the local record verifying the request). Second, the name of the foundation must be included in the name of each foundation. Thirdly, the name may not refer to any member of the royal family, government agencies or individuals without prior consent. Fourth, the name can never use the names of sacred places or political parties without exception.
2.) Office Requirements: The Foundation's office must be privately owned and located in the office.
3.) Target Requirements: The Foundation should be organized in the public interest and not in the private interest of individuals. It can only serve charitable organizations of public interest, religion, arts, sciences, literature, education or other public interests.
4.) Instrument Required: The foundation must meet the minimum asset requirement. The minimum varies, but for unspecified facilities, the required amount is 500,000 baht in cash or 250,000 baht cash with other available assets.
5.) Regulatory Requirements: The Foundation must have written regulations and a board of at least three persons. The regulations should list the objectives of the foundations, the structure of the board, the list of assets at the time of creation and how the assets are managed

After the foundation is satisfied that the above requirements are met, the application process may begin. The official request can be purchased at ten base points in the Ministry of the Interior or in many local registry offices. Subsequently, the application must be completed and forwarded to the local registry office (only the local register of the area where the foundation is located). The application must then be submitted with additional documentation. This documentation includes:

1.) List of tools available to the Foundation
2.) List of assets assigned to the Foundation and registered documents that promise the tools for the goals set by the Foundation. If we have received a testament from the foundation, a copy of this test must be given
3.) List of members of the board of directors containing their name, address and profession
4.) A copy of the Foundation's regulations
5.) Appropriate government identification cards for the owners of the foundation, or, if foreign citizens or practices, a comparable identifier
6.) The map is the head office and any existing branches, and checking that the offices are managed by the foundation to apply. The written testimony of the landlord or the owner satisfies this requirement
7.) The record of the meeting when the founding was founded. This record can be a written statement of the protocol or direct recording.

Materials are evaluated and the inspection officer verifies the existence of an existing fund name. If the officer suspects the Foundation's methods or purposes, the application will be sent to the National Cultural Council for review. If the application is approved by the Registrar or the Council, the Foundation must issue a registration certificate that allows it to operate in Thailand.

The Thai foundations are for charitable purposes only. For this reason, the Thai government can provide protection for the issuance of foundation certificates. Therefore, it is extremely important that we meet all the requirements outlined by the government and have all the necessary documentation to prove that these requirements are met. Without this negligence, the process will be complicated and certification may be difficult.

Source by Dennis Ramm

Leave a Reply

Your email address will not be published. Required fields are marked *