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Limited Company in Thailand

Thai Limited Liability Company is the most popular business structure for company registration in Thailand due to the simple process of establishment and the protection it offers its shareholders. Registering a Thai Limited Liability Company takes place at the Department of Business Development of the Ministry of Commerce and takes no more than one week.

Company registration

Register Limited Company

What is a Thai Limited Company?

Update: As of February 7, 2023, significant amendments to the legislation regarding the registration of a Limited Company. The minimum number of shareholders has been reduced from three to two.

A limited company is Thailand's most popular business structure. Its key features:

  • The liability of shareholders is limited to any amount remaining unpaid on their shares.
  • There is a separation between owners and management.

Following Section 1096 of the Civil and Commercial Code (CCC) of Thailand, a private limited company is established with capital divided into equal shares. The shareholders' liability is restricted to the unpaid portion of the shares that belong to them. To complete the registration process for a private limited company, the following items are necessary:

  • at least two founders (07.02.2023);
  • at least one director;
  • auditor;
  • memorandum of association;
  • minutes of the constituent assembly;
  • registration of constituent documents.

It is also mandatory for them to adhere to the accounting protocols outlined in the Civil and Commercial Code, the Revenue Code, and the Accounting Law. Annually, they must prepare a balance sheet and submit it to the Department of Revenue and Commercial Registration. Furthermore, they must deduct income tax from the salaries of all their permanent staff members.

Necessary steps in registering a Thai Limited Liability Company

Reserve your company name.

The Thai Limited Liability Company must follow the recommendations of the Business Development Authority at the Ministry of Commerce when registering the name.

File the Memorandum of Association

The Memorandum of Association of Thai Limited Liability Company must be filed with the relevant authorities in Thailand.

Convene Constituent Assembly

The Thai limited liability company must convene a formal meeting of the members.

Registration of the company

The Thai limited liability company must necessarily be registered.

Register VAT or SBT

Depending on its business activities, the limited liability company may need to register for value-added or special business tax.

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Update: 22-02-2023
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