Guide to setting up a private limited company in Thailand

Introduction

For foreign investors looking to establish a presence in Thailand, a private limited company is often the preferred business structure. However, navigating the process of company registration in Thailand requires attention to detail and adherence to specific requirements. This guide, provided by Monx, offers a step-by-step walkthrough of the registration process, ensuring your company is set up according to your preferences.

Reserve a Company Name

Initiate the company registration process by reserving a unique company name with the Department of Business Development (DBD). Note that the chosen name must comply with certain restrictions, such as not resembling existing company names and adhering to specific naming conventions. Monx recommends suggesting three name options to maximize approval chances within the 30-day validity period.

Prepare and Sign Documents

Gather essential details about your company and sign necessary paperwork, including the Memorandum of Association (MOA). Required information includes company name, registered office location, objectives, share capital, promoter details, director information, and shareholder particulars.

Register the Company

Upon submission of documents, the processing time varies based on your business specifics. Once approved, you’ll receive registration documents and a company/tax ID. Note that a registration fee is applicable based on the registered capital.

Open a Company Bank Account

Provide Monx with bank preferences, account type, and authorized signatory information for seamless account setup.

Register for Corporate Income Tax and VAT

Apply for a corporate tax ID card from the Revenue Department within 60 days of incorporation or business commencement. VAT registration may be necessary based on revenue and employment criteria.

Social Fund Registration

Ensure compliance by registering employees with the Social Security Fund (SSF). Monx requires employee details and workplace documentation for timely registration.

Visa Application

Assistance is provided for securing relevant visas for foreign directors and staff, facilitating legal stay and work permissions in Thailand.

Work Permit Application

If a work permit is required, Monx assists in preparing necessary documentation for visa acquisition and work permit application.

Visa Extension

Extend initial visas as necessary, with Monx guiding through the required documentation process, including VAT and SSF registration details.

Conclusion

Foreign investors exploring business opportunities in Thailand have various structures to choose from. Monx offers expert guidance through each step of the company registration process in Thailand, ensuring a hassle-free experience. Contact us today at hello@monx.team to kickstart your venture in Thailand with confidence.