A Limited Company, particularly a Private Thai Limited Company, is the most popular form of business structures in Thailand. Its key features are:
- The liability of the shareholders are limited to any amount left unpaid on their shares
- There is a separation between owners and management
The incorporation of a Private Limited Company requires:
- A minimum of three promoters
- At least one director
- An auditor
- A memorandum of association
- A statutory meeting
- Registration of the incorporation papers
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.
Our tasks are to ensure that your business starts well and everything is in place.