Setting up a Thai Limited Company is the one of the best ways for a foreigner to operate a business in Thailand because Thai Law prohibits Foreigners to own a business in Thailand as an individual.
A Thai Limited Company must consist of a minimum of 3 shareholders and a Director(s). For the Company to remain a Thai Limited Company the porpotion of a foreign shares in the Company must not exceed 49% and the Thai shareholders must possess 51% of the total shares. However, the Foreigner in this arrangement can be the sole Director and is able to manage and run the business with sole decision-making authority. Foreigners can also hold Preferred shares to give them more voting rights and hold the majority voting power over the Thai shareholders, even though the Thai shareholders must hold 51% of the shares.
The benefit of a Thai Limited Company is that foreigner would not have to apply for a Foreign Business license, which is more costly and time consuming, while still maintaing full control over the Thai Company by having a majority voting rights and sole Directorship.
WLS offers Thai Limited Company Registration Services, including:
Company Registration (2 Million Baht – see currency converter here – in registered Capital must be shown in order to obtain a work permit)
Company Tax Registration (required by Law)
Value Added Tax Registration VAT (requirement for Work Permit)
Amendment of existing Company (address, director(s), shareholders, Objective, Article of Association, Tax address etc.)