Types Of Companies You Can Register In Thailand

If you have fallen head over heels with the colourful Thai culture and would like to set up a business and live the rest of your life in a tropical paradise, there are several business registration options. In order to assist you in the process, here is some background information on the different types of company you can set up in Thailand.

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Foreign Company Branch

If you have a successful international business and would like to open a branch office in Thailand, this would be ideal. Talk to a leading English-speaking business lawyer for all the details. One very important aspect of foreign business ownership is compliance; the last thing you need is to fall foul of Thai laws, which is why you should seek out the services of a Bangkok law firm.

Private Limited Company

The PLC is a trading entity with limited liability and with BOI Thailand business registration lawyer handling your application; the process would be completed within a few weeks. This can be 100% foreign or partially owned, with a Thai as the major shareholder having at least 51%.You are subject to local laws. The registration enables you to receive a work permit to manage your business in Thailand.

Partnerships

Much like most countries in the world, you can hook up with a partner or partners, which is often the key to success, as both parties bring different skillsets to the table. If you are ready to register a partnership business here in Thailand, talk to a leading law firm with English-speaking lawyers, who can advise you and prepare for the application. A limited partnership must be registered; the lawyer would fill you in on the details and inform you of the things you need to prepare for, such as opening company bank accounts.

Joint Venture

Similar in many ways to a partnership, a joint venture might involve multiple parties that come together to create a business entity. If you are unsure what type of business is right for you, talk to a Bangkok-based law firm that specialises in foreign business registration and they will advise you accordingly.

Representative Office

Known as an RO, this is perfect for the foreign business that wishes to carry out market research in Thailand. A non-trading entity, this would be a temporary status and when ready, you can become a trading entity and compete within local marketplaces. You can have a foreign manager to oversee the branch office, while business activities are restricted.

Work Permit

It is essential that you are able to manage your business and with the help of a local law firm, you can acquire a work permit from the Thai Ministry of Labour. Your legal partner can assist you to prepare the necessary documentation for Thai Immigration.

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Once the lawyer fully understands what you wish to do, he or she would make some recommendations and in the space of a few weeks, your new business will be up and running. Ongoing compliance is assured when you deal with a local law firm that has the connections to make things happen.