Completing your company registration in Thailand in less than two weeks is actually possible. When people discuss developing countries with infinite business opportunities, Thailand is a standard option which can be explored successfully. Prospective businessmen wishing to do business in Thailand will do well to establish a limited company as this has more utility for businesses than offshore companies. This advice is attributable to the fact that owning a limited company in Thailand has numerous benefits.
A priceless advice is to only use the service of lawyers who are proficient in both English and Thai languages and such lawyers must have several years of experience and also have sufficient knowledge of Thai local laws. Company registration in Thailand is mostly simple and straightforward although foreigners may experience difficulties unless they have local help.
The limited company in Thailand is similar to (LLC) limited liability in the United States when its basic structures are compared. Such a company is usually owned by at least 3 shareholders while one director at least serves as a manager. The pros of a Thai limited company can almost not be exhausted but one of the most important of these is the fact that legally, such a company can stand alone on its own under the laws guiding business in Thailand as guided by the ministry of commerce.
A significant detail during registration that prospective foreign business owners should keep in mind is that a Thai citizen is expected to own (51%) fifty one percent of the company shares while the rest can be distributed as seen fit. The trick for foreigners to still own and maintain a controlling interest in their company is to issue 2 different categories of shares which are ordinary shares and preferred shares keeping in mind that shareholders who possess ordinary shares have more voting rights in a company.
Another difficult hurdle during registration which can be easily bypassed with experience is the stipulation that during the registration of the company, two million THB of capital is required to become eligible for a work permit in Thailand. You don’t compulsorily have to have this amount before you start but what this means is that the amount is the limited liability of the business you are establishing.
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