There are many types of Thai companies. The following are some of the most common types of Thai companies:
1. Joint venture/partnership
According to the different liability systems, it can be divided into three different forms of joint venture/partnership: unregistered common joint venture/partnership, registered common joint venture/partnership and limited liability joint venture.
2. Private limited liability company
The private limited liability company in Thailand is similar to what is usually called a company. Companies can be wholly owned by foreigners, but in those commercial industries and fields reserved and protected by Thailand's national policies, the proportion of foreign investment usually cannot exceed 49%.
3. Public limited liability company
The main difference between public limited liability companies and private limited liability companies is that private limited liability companies are prohibited from selling their shares to the public.
4. Branches/branches of foreign companies
Companies established under foreign laws can set up branches in Thailand to jointly operate their business.
5. Representative offices of foreign companies
Foreign legal entities can set up representative offices in Thailand to engage in limited and unprofitable business activities.
The main process for China to set up a company in Thailand (taking the most common limited company form as an example) is as follows:
1. Registration and approval of company name
Select the company name for registration and pass the examination of the commercial registration authority. The registered company name cannot be similar or the same as other company names.
2. Articles of Association
Approved company registration name, company detailed registered address, company objectives and business scope, names of seven promoters of the company and other personal details. Data of shares subscribed by shareholders and registered capital approved by the company.
PS: Capital information must include the number of shares and the par value of each share. Capital can be invested in stages, but the total amount should be clear.
3. Convene a statutory meeting
After the ownership structure of the company is determined, with the approval of laws and articles of association, organize all shareholders to hold a statutory meeting, elect the board of directors of the company, approve the transactions and expenses of the promoters of the company, and appoint auditors.
4. Registered company
Within 3 months after the statutory meeting, the board of directors of the company must submit an application for company registration to the business registration office.
5. Tax registration
Within 60 days after the company is formally established and begins to operate, it must apply to the tax authorities for the company tax registration card and enterprise code (tax number) to pay income tax.
PS: Foreigners can wholly own a private limited company. In some commercial activities reserved for Thais, foreigners can only own 49% of the shares at most. You can register a private limited company by setting up a company in Thailand to hold villas and land.