Company Registration in Thailand
Having your own company is for many people a kind of dream. Being your own boss, having your specific freedom as a business owner. It all sounds so terrific. The business consultants of Focus Group International can advice you what kind of legal entity to establish and how to establish. Because the way you set up and register your company is of crucial importance. Moreover, we support you with every step that need to be taken when you set up your legal entity.
In Thailand there are a couple of business registrations. We mention 2:
- Commercial registration by a regular person
- Company registration by a legal entity
Commercial registration by a regular person
This type of registration is most suitable for smaller-scale businesses with a single owner, offering (straightforward) products and/or services. Advantage of this kind of registration is that the owner is not required to perform accountancy or has to submit an annual financial statement. Owners will have more freedom in managing and controlling their own business. The disadvantage, however, is that sometimes it can hold less credibility than being a legal entity. And it is more challenging to request (business) loans from a bank. Therefore, we recommend this registration for businesses in their so-called starting phase.
Company registration by a legal entity
This type is more suitable for more mature and more structured businesses with multiple (more than 3) owners. This registration results in a “company” with the status of a legal entity. This entity will be required by law to perform accounting, pay corporate taxes and managing social security for its employees. The corporate tax will not exceed 20% of your net profit, which is significantly lower than the rate of personal income tax (up to 35%).
Focus Group International advises and guides you through the entire process of setting up your own company.
More information? Call us now or just send an email and we will get back to you as soon as possible.
+66 (0)85 8800 378