As in most countries, there are three kinds of business organizations in Thailand: Sole proprietorships, partnerships, and limited companies. The most popular form of business organization among foreign investors is the private limited company.
Private limited companies require a minimum of seven promoters and must file a memorandum of association, convene a statutory meeting, register the company, and obtain a company income tax identity card. They must also follow accounting procedures specified in the Civil and Commercial code,the Revenue Code and the Accounts Act. A balance sheet must be prepared once a year and filed with the Department of Revenue and Commercial Registration. In addition, companies are required to withhold income tax from the salary of all regular employees.
The Alien Occupation Law requires all foreigners working in Thailand to obtain a Work Permit prior to starting work in the Kingdom, except when they are applying under the Investment Promotion Law, in which case they have 30 days to apply.
Sunbelt Asia provides personalised corporate services consultation at a standard of quality consistent with the firm’s reputation as one of Chiangmai’s leading firms. Clients can also obtain on-the-spot legal advice on corporate services issues and access a full range of legal services through Sunbelt's extensive areas of practice.
Client affairs will not be handled by teams of anonymous staff; but are individually handled by experienced legal advisors. Our professionals will respond to your changing needs and assist in corporate administrative matters with up to-date knowledge and skills to meet legal requirements and developments.
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