Open a Limited Liability Company in Thailand

Updated on Saturday 14th July 2018

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The limited liability company is a type of business entity that is popular among investors and offer a sufficient amount of investor protection through its main characteristic: the members are only liable up to the amount they have invested in the company capital.

The limited liability company in Thailand is usually formed by means of a minimum of three shareholders and ruled by one director. A very important aspect is that the majority of the board has to belong to persons that have Thai citizenship.  Our Thai company formation agents remind you that in this สมัครสมาชิกW88type of company, there are two types of shares: simple shares and preferred shares. Those that possess simple shares have more rights of voting within the company and one director of the two is elected by the shareholders. The shareholders only have the right to vote on the behalf of their percentage, while the directors have the right to vote for the entire Thai company.
The main steps for LLC formation in Thailand are described in the list below and referred to in more detail in the rest of the article.
  1. Reserve the company name: investors much check if their chosen company name is available and if it meets the requirements set forth by the Business Development Office.
  2. Draw up and submit the company documents: the company’s Articles of Association are drawn up and filed to the Registrar, together with a Declaration of Compliance and the relevant information about the company directors.
  3. Register the company: once all the documents are in place, they are duly submitted for Commercial Registration with the Department of Business Development belonging to the Ministry of Commerce; the registration must take place within 30 days from the day the business started its activities.
  4. Make the subsequent registrations: LLC will also have to register for tax and VAT purposes and make the necessary submission when hiring employees.

Conditions for establishing a limited liability company in Thailand 

An important condition for doing business in Thailand is that foreign investors must observe the ownership ratio that must be held by Thai citizens. In most cases, 51% of the shares are to be held by a Thai national. There are no restrictions as to the nationality of company directors, however, when foreign company directors are appointed, they must hold a work permit. One of our agents who specialize in Thai company formation can give you more details on these requirements, according to the specific business field in which you wish to open the limited liability company.
The foreign investor’s capital injection can differ according to the business field. For example, the minimum share capital is larger in selected industries like farming, fishery, forestry, trading in land, trading and selling Thai objects, antiques (in general, the businesses that are considered restricted under the Foreign Business Act). A Foreign Business License may be needed and our agents can give you more details on this.
For private limited companies, the value of company shares must not be lower than 5 Baht and at least 25% of the value of the shares must be paid in.  for public limited companies, 100% of the share value must be paid in.  
If you want to open a limited liability company in Thailand, we invite you to watch the video below:


Steps for setting up an LLC described by our Thai company registration experts

A very important step in opening a limited liability company in Thailand is choosing the future company’s name together with two alternatives and submitting them to the Thai Ministry of Commerce. Our local consultants advise you not to choose any names that already represent a trademark of another company, or are very similar to such a name. If the name is considered valid and it does not violate any ministerial regulation, it will be approved. 

Limited liability company registration in Thailand is not a difficult procedure. After the name has been registered, all the shareholders must sign a memorandum that contains all relevant information related to shareholders and the company, such as the purpose of business and capital data. Eventually, the memorandum as well will be submitted to the Ministry of Commerce for approval. Opening a limited liability company in Thailand is a process that may last up to 2-4 weeks.   

We invite you to contact our team of company registration agents in Thailand for more detailed information about the process of forming a limited liability company. If you need information about setting up a company in another country, such as Serbia, we can put you in touch with our local affiliates


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