Company Incorporation In Thailand

The following posting is designed for those who are initially researching the various incorporation options available pursuant to relevant Thai corporate law.

Each year, many foreign nationals travel to Thailand. In some cases, such travelers opt to remain in the Kingdom. Sometimes, people wish to stay in Thailand in order to study the Thai language. In some cases, such people may be able to obtain a Thai education visa for this purpose. Meanwhile others opt to remain in Thailand on a retirement visa. Finally, some travelers try to make Thailand a platform for business activity. Those wishing to do business in Thailand are well advised to use a Thai business visa for such purposes.

Incorporating a business in the Kingdom of Thailand is an endeavor unlike anything undertaken in the United States of America or elsewhere around the world. It should be noted that Thai law does not allow so-called "shelf companies". Therefore, those conducting business in Thailand through a Thai limited company are required to maintain bookkeeping initiatives and retain an accountant in order to file audited financial statements and balance sheets.

In Thailand, there are a great many companies which claim to specialize in legal matters. In some ways, choosing the correct professional to assist in incorporating a Thai juristic person can be the most important decision made by one anticipating doing business in Thailand. Those seeking professional counsel are well advised to ascertain if a firm is registered with the Lawyers Council of Thailand.

Unlike other nations which allow so-called "Limited Liability Companies" Thailand has maintained largely the same system of incorporating Limited Companies which look much the same as incorporated business entities in the United States or United Kingdom. That said, although Thai limited Companies may look similar to the layman at first glance Thai law operates very differently from any other location in the world so the assistance of Thai corporate counsel can be highly beneficial for those wishing to setup a Thai Limited Company for the purpose of conducting business in the Kingdom.

The law in Thailand might provide some legal benefits to juristic persons which will be used by individuals and groups of a certain nationality. For example, the United States-Thailand Treaty of Amity permits American Citizens to own virtually 100% of specified types of businesses. Concurrently, the language of the Australian-Thai Free Trade Agreement and the Japanese-Thai Free Trade Agreement could offer benefits to alien nationals in Thailand of Australian or Japanese extraction. Finally, Thailand's Board of Investment can provide many types of concessions to companies and individuals wishing to do business in Thailand.

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