How to form a Business in Thailand? |
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Under the Civil and Commercial Code of Thailand, the types of business are divided into 3 categories as follows: |
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| 1.
Unlimited Partnership (Non-Juristic Partnership/Ordinary Partnership) |
| 2. Limited Partnership |
| 3. Limited Company |
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1. Unlimited Partnership |
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The unlimited Partnership means a business organization in which two or more individuals manage and operate the business. All partners are equally and personally liable for the debts from the business. Each partner must bring a contribution to the Partnership; it may consist of money, other properties or of services.
The Partnership shall formed by either the oral agreement of partners or the written agreement of partners. The Partnership is dissolved by the contract of partnership, by the death of any partner or by any partner becoming bankrupt or incapacitated.
Each Partner is responsible to pay his individual income tax separated from the Partnership at the end of the tax calendar year. |
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* The lawyer will assist you and your partners to make the Partnership Agreement. |
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2. Limited Partnership |
| A Limited Partnership composed of: |
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1) One or more partners whose liability is limited to such amount as they may respectively undertake to contribute to the partnership: and
2) One or more partners who are jointly and unlimitedly liable for all the obligation of the Partnership.
The contribution of the partner must be managed only by the partners with unlimited liability, called the Managing Partner.
Registering a Limited Partnership with all Thai partners shall take about 3-5 government working days, if registering with Thai and Foreigner partners take about 5-7 days. |
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| ** We do not recommend a limited partnership because it has limited options for you to control. |
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3. Limited Company |
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A Private Limited Company is the most frequently registered type of business and designing for the foreign ownership.
A foreigner who is a shareholder or director of a limited company in Thailand must apply for a non-immigrant visa and a work permit to be allowed to stay and work in Thailand and the minimum registered capital must be 2 million Baht.
A limited Company was formed by 3 promoters. |
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* The company registration will take about 3 days. |
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| How to pay tax under the Revenue Code of Thailand A resident is an individual who lives in Thailand for one or more periods totaling 180 days or more in any tax calendar year. A resident is subject to tax on all income from sources in Thailand and on income derived from sources outside of Thailand, should such income be brought into Thailand. A non-resident individual is subject to tax only on income earned from sources within Thailand |
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There are four kinds of tax will your business has to pay on their own schedules for the due date: |
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1. A monthly payroll and payment
2. A monthly VAT and Withholding Tax
3. Half Year Corporate Tax Report
4. Annual Corporate Tax |
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*** Our Law Firm will handle all of forming a Corporation, Business consultant, as well as Tax and Accounting for your business. |
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We serve our clients the best quality and providing the business consultant for our clients for their benefits of doing business in Thailand.
We believe our firm has the breadth and depth of experience you require now and the future. |
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