The setting up of a company in Thailand needs to be done correctly and it is vital that all business entities are safe and secure. At B-Corp we specialise in just that and offer a complete ‘one-stop’ service. Our team of experts have years of experience in registering companies and are fully conversant in all facets of Thai law.
If you have lived in Thailand for any length of time you perhaps already be aware of the many complications and pitfalls that can be caused by the company being incorrectly setup. However, thanks to our expertise you will discover that setting up a company has never been easier. There have been plenty of rule changes in recent years and this includes a series of new incentives that are offered by the Thai government.
These incentives include tax-breaks, easier access to work permits and other options that now open new horizons. All business structures must follow the Foreign Business Act but there are several different business types that can be used by foreigners such as a sole proprietorship, an ordinary or limited partnership, a representative, regional or a branch office, a joint venture, a limited company or even a foreign company. Below we look at the options that are available.
Advantages and Disadvantages of a Thai Limited Company
Perhaps the key advantage with this type of company structure is the fact that it is like that in other countries and therefore understood by business people from across most continents. Although they may feel that they have no previous knowledge of business in Thailand the familiarity no doubt eases many concerns. If you are not aware, all Limited Companies will have directors and shareholders. The limited liability aspect means that a shareholder is only placed in a position where he or she could only lose the capital that they invested. In simple terms, if the company were to make large losses, they would not be responsible to pay these personally, not legally at least.
As an addition to the fact that Thai Limited Companies are, overall, easy to understand, they are a fantastic way of providing a means for individuals to legitimately generate revenue and therefore profits. Thailand has dual taxation agreements established with most western companies, but for those few that haven’t, there are several legal methods that can be used to reduce the effect. This includes using profits for the salaries of directors and shareholders, something that is perfectly legal so long as it is correctly shown in the financial statement.
Many foreigners who are investing in Thailand will have natural concerns regarding trust. This is reduced when you consider that the rights and obligations of all parties are already in writing. Therefore, complex grey areas and question marks of responsibilities and privileges are removed with the documents required to kept for future reference
Company Registration.Some other options
Advanced store statistics.
At B-Corp, we know that all businesses will need to make changes from time to time. We therefore, offer a range of other services in addition to company registration that are designed to make running a business in Thailand as straightforward as the initial setup. Therefore, we offer corporate secretarial services and accounting to help with things such as registering the company name, filing the memorandum of association, statutory meeting, registering the company, registering for income tax and VAT and opening a corporate bank account