Starting a business in Thailand

Starting a business in Thailand is easy if you know the exact type of start-up business. Thailand has many business potentials due to government incentives and the availability of cheap and highly skilled labor. Below are the basic requirements for starting different types / businesses in Thailand.

t However, this limitation can be circumvented. For example, foreigners, that is, American citizens, can register individual businesses under the United States Amity Treaty of Thailand. This contract allows American citizens to form single businesses in most industries. Starting an individual business is simple and straightforward. You only need a business certificate that is easy to get if you ask for help from local authorities.

2. Launching Thai Partnerships

To start a Thai partnership, you must register with the Thai Trade Register Office. The registration fee for Thai partnerships is 1% of the registered capital, which is between 1000 and 5000 THB. It is also important to note that partnerships between Thai and foreigners require a foreign entrepreneurial certificate if foreigners have a significant stake in the partnership business. It is therefore important that partnerships with equal shares of local residents and foreigners are started to circumvent this restriction.

3. Commencement of normal partnership companies

Ordinary partnership companies in Thailand have a partnership with two or more shareholders. You do not have to register with the Thai Trade Registration Office when you start regular partners in Thailand. However, you are required to issue annual financial statements and corporate income tax returns and, on the other hand, report revenue from the individual tax returns of the partners / owners.

4. Launching a Limited Liability Business (LLP)

Two types of partners are needed to start an LLP business in Thailand. You need general partners who are basically business leaders. General business partners are also responsible for business financial obligations. You also need limited partners who are not eligible for the partnership. However, their responsibility is limited to their capital investment. All Thailand LLPs must register with the Thailand Commercial Registration Office. They also need to pay tax as a corporate entity.

5. Starting a Thai Limited Liability Company

Limited liability companies operating in Thailand are listed in Thailand Civil & amp; Commercial Code. All private companies operating in Thailand must register certain documents, ie the Association Statement (MOA) (which is similar to the Article on Integration) and the Statutes (AOA) (which is similar to company law). Thai limited companies need at least 3 shareholders. Thai Limited companies must meet strict financial requirements. For example, the financial statements are certified annually by the auditor, approved by the shareholders, and then filed with the revenue and commercial records departments. However, it is important to note that small businesses are exempt from this requirement. Thai limited companies require 3 registrars before registration. Each promoter needs at least 1 share in the store / company. Promoters must also be over twenty years old.

Source by Jeff Molenda

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