Company Registration in Thailand
- March 02, 2020
- William Lewis
Get Expert Help with Company Registration in Thailand
From 2014, the government of Thailand has made it easier to set up a partnership or a limited company in the country. But company registration in Thailand is still a complex undertaking with a lot of rules that must be followed and conditions that must be met in order to be successful.
This is why it’s essential to hire an experienced company to help you through the hurdles of company registration in Thailand. An experienced company can serve as the liaison with the proper government office to ensure your company is registered in a way that suits your business and business goals.
Several Options to Setting Up a Company in Thailand
At present, there are three options to choose from in company registration in Thailand. You can set up a limited company, sole proprietorship or a partnership. There are also three types of partnerships available to choose from; an unregistered, ordinary partnership, a registered ordinary partnership, and limited partnership.
So You may also want to set up your own company under the Board of Investment (BOI), as this can be especially valuable., but your company must first meet the BOI criteria.
The BOI is a government entity that offers company registration services for certain types of businesses that will benefit the country’s economy under the Thailand 4.0 policy. These are forward-thinking industries that make use of technology in their capabilities.
The BOI offers tax incentives, the permission to both remit and send foreign currencies overseas, and the facilitation of the hiring of skilled foreign workers to work in the country.
If your company is any of eight sectors of industry, including next-generation automotive, smart electronics, medical hub services, medical tourism, agriculture and biotechnology, food processing, robotics and automation, aviation and logistics, biofuels and biochemical, or digital technology, it may be wise to set up your company to take advantage of all the BOI is offering.
Get Expert Help
Before you can even think about company registration in Thailand, you should seek help from the experts. Many legal and accounting firms can help you with the process. Getting help from qualified experts can save you vast amounts of time and frustration.
These companies will know the BOI criteria well and can advise of your company’s suitability to register under the BOI scheme.
These firms can also help with all other aspects of company registration in Thailand. Every foreign employee in your company will need a residency visa and a work permit. Upon successful completion of the registration process, these firms will specify the documents that your company will need to supply and help you obtain the desired work permits and visas.
You’ll also need to sign a lease on the property your company will occupy, set up bank accounts and apply for a Thailand tax ID number, among many other chores that need to be accomplished to be able to conduct business legally in Thailand.
Legal and accounting firms in Thailand are invaluable for the company registration services they offer. They can usher you through all requirements and provide relatively quick registration under the most favorable terms for your company.