Thailand Company Registration and Setup.
The following is general information and advice about setting up a company in Thailand and doing business here, and about working environment in Thailand.
Generally, if you have real intentions of doing business in Thailand, then setting up a company and doing legitimate business in Thailand is fairly straightforward and not difficult, especially compared to many other countries in Asia .
Pattaya is a good place to do business, not a bad place. It is a fairly free-wheeling market economy, and reasonably flexible.
The Thai legal system as regards company and tax matters is largely patterned after the USA and European countries such as Switzerland and France.. Most foreigners find it quite reasonable and easy to work within.
Setup a Thai Company Ownership.
The laws in Thailand are pretty nationalistic. In the vast majority of cases, the company must be “majority owned” by Thais, in terms of shareholders. This means that the company can be no more that 49% foreign owned. Sometimes, it is a maximum of 39% foreign ownership, for practical reasons. In most cases it’s 49% foreign owned.
Balance Sheet and Tax
Every company must make a balance sheet for the last year before end of May. Accounting office’s charge you 15 to 20,000 Baht to make such a balance sheet.
Buying property in Thailand
Foreigners can buy a condo in Thailand Ownership is 100 % freehold,with their own name registered on the Title Deed,However only 49 % of the units (really : 49 % of the square meters) in one building can be sold to foreigners and 51% will be Thai buyer or Thai Company.
On the transfer of ownership at the land office the buyer has to verify, that the funds required to purchase the condo was sent into Thailand from abroad and in Foreign Currency (Important !). In order to verify this he needs a document called TT3 (Tor Tor Sam)from the local Bank in Thailand, which confirms the money transfer form overseas .
For more information please feel free contact Pattayaconsult 062 556 2523.