The 3 Step Guide To Company Registration in Thailand
Company registration Thailand and company set up is not an easy process. There are many legal hassles that you will need to overcome. Of course, once you get through that, setting up a company is easy.
Here are the steps you can take to set up a company.
1. Company Registration Thailand
To register your company in Thailand, here are the steps you are required to take:
- Book the name of your company
- Prepare company registration documents e.g. payment evidence for the share capital, list of shareholders, etc.
- Company registration at the Department of Business Development (DBD)
The form for company registration is on the website of the DBD. You will need help filling it out if you don’t know Thai. After that, the DBD may also want to double-check your financial status and sources of finance.
After company registration in Thailand, you will need to obtain VAT and relevant business licenses. The licenses you need depend on the type and size of the business. You can also find more information on company registration, and different kinds of setups on our dedicated page.
2. Obtaining VAT And Other Licenses
Once your business makes annual profits of almost two million baht, it is time to obtain a VAT license. You are required to apply for it within thirty days through the Department of Revenue. Besides that, you need other licenses as well.
Here are some licenses you will have to obtain. This is dependent on your business type:
- Restaurant Business: You will need a music and liquor license
- Shipping Business: You will need an export and import license
- Food Importing Business: License from FDA
- Drug Importing Business: License From FDA
You can utilize a lawyer to get these licenses much more easily.
3. Getting Work Permits And Visas
Getting visas and work permits for employees and yourself is not easy. There is a lot of paperwork and many expenses you will have to deal with. Here is the process for each:
You will need a work visa first, after obtaining that you will have to fly to Thailand to apply for a work permit. As a foreigner, you are required to employ four Thai workers per foreigner working in your business. You also need 2 million baht in capital. If you want two work permits, you will need eight Thai employees and 4 million baht capital.
You are required to apply for a business visa. It is best to hire an accounting firm for this as they can deal with the extensive paperwork. Here is what you will need:
- Letter from the local labor industry
- Copies of company registration
- Letter of employment from Thai partners of the business
These are the three things you are required to have to get your employee’s work visas.
These are the top three steps you will have to take for setting up a company. Once your company has been set up, there is much more to do such as looking for office space, employees, equipment, and much more. Once you have done everything, you will be ready to run your company in Thailand in no time. If you want to register your company in Thailand, please feel free to contact us.