In Thailand, it is not mandatory to register for company as a VAT Company when your revenue is below THB1,800,000 per financial year however registering as a Value-Added Tax (VAT) company in Thailand can provide a number of benefits for businesses. Some of these benefits include: However, registration for VAT also comes with some obligations…
All tax residents in Thailand must file for a Personal Income Tax Return (PND 90 or 91) every year. The deadline to file and pay for Personal Income Tax is on 31 March of the following year. If you’re a foreigner, you must obtain a Tax Clearance Certificate before leaving Thailand and you are required…
Starting a business can be a complex process, but there are a few basic steps that you can follow to get your business off the ground. Here are some of the most important things to consider: Tips to successfully Market your business in Thailand For more information about starting a business in Thailand and how…
A US Amity Treaty Company permits American citizens and companies tohold majority shares (over 51%) in a Thai Limited Company. The USAmity Treaty also enabled American companies to engage in business onthe same basis as Thai companies, and are exempt from most of therestrictions of foreign investment imposed by the Alien Business Lawof 1972. What…
It’s required by law that every Company, regardless it’s a Partnership, Thai Limited Company, BOI, Branch Office or Representative Office must have their account audited at the end of every financial year, that is Dec 31. Once your account is signed off by your auditor, it has to be uploaded into the gov’t system. So,…
Once you have incorporate your Thai Limited Company, it is a legal entity by itself and should your business cease to operate anymore, it is important that you close the company properly to avoid unexpected penalty and costs. What do you need to prepare and submit to close a Thai Limited Company? – Final Balance…
Registering a trademark provides legal protection against counterfeiting and infringement of your intellectual property. A registered trademark greatly strengthens your ability to enforce your rights, as well as ensuring that you are not unknowingly infringing on a trademark held by another. Registering a trademarkin Thailand. Although Thai law generally recognises foreign trademarks, at best they…
Changes in Thai Cannabis Laws The Narcotics Act B.E. 2522 in Thailand prohibits the production, manufacturing, cultivation, possession, sale, purchasing, transport, storage, and/or consumption of any narcotic drug or psychotropic substance. Substances defined as narcotics are classified into 5 categories. Initially, cannabis was part of category 5. On February 9, 2022, Thailand passed a law that decriminalized specific…
When company export certain goods, companies may claim a VAT Refund for certain purchases of the raw material used in the exported product however unless the amount of VAT Refund is significant and that your company has proper record keeping, we advise you to think twice before requesting for a VAT Refund. Request for VAT…
Can foreigners own land in Thailand? A foreigner cannot own land in his/her name in Thailand. However, the Department of Lands allows a Thai national married to a foreigner to own land after a signing a letter of certification with the foreign spouse to prove that the money used to purchase the land is the personal property of the…
What is a dormant company? A dormant company, also known as a shelf company, is an entity that has been legally registered but does not engage in any business activities. What are the benefits of a dormant company? The benefits of a dormant company are as follows 1. Have a company for future use Instead…
This is a guide on profit repatriation: transferring money out of Thailand. Thailand has strict regulations regarding foreign exchange transactions and also impose taxes on profit remittance. Let’s find out what taxes are levied and what other regulations required. Transferring money out of Thailand To transfer money out of Thailand, you will need the name…
ต้องมีผู้ถือหุ้นอย่างน้อย 3 คน – จะเป็นคนไทยหรือ
ต่างด้าวก็ได้ ตามกฎหมายในปัจจุบัน หากคุณต้องการเปิดบริษัทจำกัดคุณต้องมีผู้ถือหุ้น 3 คนขึ้นไป ดังนั้นหากคุณไม่สามารถหาผู้ร่วมลงทุนกับคุณได้ คือมีตัวคุณคนเดียวคุณก็ต้องทำธุรกิจในรูปแบบบุคคลธรรมดา แต่หากคุณสามารถหาผู้ร่วมลงทุน
In the past few years, we have witnessed an increase of global brands, business owners and foreigners start a business in Thailand. Why? Well, Thailand is ranked the second-largest economy in Southeast Asia. The economy continues to show promising growth for 2021. A Limited Liability Company is the most common choice for foreigners because it…
When company owners choose to change the registered office or business address of the Thai company, an important distinction is made between changes that take place in the same province compared to those changes that involve moving the company to a different province in the country. Some business owners may even choose the new office location…
You may apply for investment promotion from the Board of Investment (BOI) if the nature of your business falls under one of the promoted activities, in which case you would be entitled 100% foreign ownership with the foreign business license (without the usual capitalization requirement) and would be permitted to bring in foreign skilled workers without having to comply with…
The visa and work permit application process for a foreign national can be summarized into three steps as follows: 1. Apply for a 90 days single entry Non-immigrant B visa at a Thai Embassy/Consulate abroad once the company has been incorporated and registered for VAT with the Revenue department; 2. Apply for the Work permit from the…
In the case that the company would be required to support a foreigner’s visa and work permit, the company must meet the following conditions: 1. Have two million Thai Baht in registered capital to support each foreigner’s work permit – this amount will not need to be shown in cash unless it exceeds 5 million Baht;…
There are 6 ways to achieve it, and the company must fall under one of the following categories: 1. Export or manufacturing company – if the company will only be involved in the manufacturing and/or export business, with no local trading, and where importing of goods (raw materials, machinery, etc.) are strictly for the purpose of manufacturing…
