Q37: I would like to contact Thai importers and exporters, where could I find an index with such information available? Q16: What are Government expected tax amount of dormant company I have to take in consideration for one year? Panwa: you can mention on the incorporated document that the authorized signatory will be yours as well as your wifeâs signature together. The registration for a company limited shall be divided into 2 steps as follows: Tax ID Number Registration Q41: Can we use a residential address for the company, as long as there is a sing in front? (Free of Charge). If canât how we solve this? and can be reimbursed those expenses from the company when the registration is completed? Any withholding tax on dividends? by issue the letter and then send to them. Hi there Visitors and Prospected Clients. Timeline:Â. a. To register a company, process take time 2 or 3 working days. (item-5 as bellow detail). Normally, net profit will be calculated by = Income â Expenditure, for this should concentrate on kind of income as below situation: You put capital fund into bank( such as saving account), this kind of income is âInterest from Bankâ. However if bring foreign currency to Thailand, individuals and juristic persons are required to sell any foreign currency received to an authorized bank or authorized person or to deposit the money into a foreign currency account within 360 days from receiving date. Business operators earning more than 1,800,000 Baht per annum must register for VAT with in 30 days of the date they reach 1,800,000 Baht in sales. Apply import license is Baht 5,000 ( but for this you should discuss with Shipping provider first due to most of them provide free for charge). Of course the current interest rate is lower, it's may 1.5% - 2% now but our office still recommend to calculate at 3% to prevend any be negotiated by tax officer, since most of our customer is foreigner. The VAT registration certificate is to be displayed at the place of business, in a visible location.In case this is lost or destroyed, a substitute can be issued by the Thai authorities. Panwa: You can operate a business in Phuket or anywhere else, since you register your company in Bangkok but your else where which having working station or generate income have to register that place as a branch of the company. Within 1 day from company registration, you can get company's bank account and import - export license. others: some other costs can include those related to specimen signatures, statements made by directors and others; the fees here will vary according to the tariffs of the law firm or the services requested. Please give me the cost and how long does it take?. the constitutive meeting: this is held by the shareholders after the registration for the purpose of adopting the Memorandum of Association. Auditing service - Share; normally each shareholder must hold at least 1 share which means the registered company must have at least 3 shares and value of each share is minimum Baht 5. Contact us Contact Our Professional Team We can make it simple. Copy of ID card or Passport of 2 witness(s). Case of your company do not sale locally in Thailand, you can get 0% VAT for export business that's mean for purchase (impout) VAT can be refunded for full amount, anyway shipment and custom document have to support for tax purpose in Thailand. However, we would not be employed by the company. We have discussed a new company registration fee in Thailand that is government fee and consultancy fees: To set up any kind of company in Thailand, you need to pay a certain amount of money associated with the whole process especially for registration.For the actual business registration, you need to submit a fixed address and provide proof of this by means of a copy of the lease agreement. Panwa: Condition of registration of VAT: Business Operator who carry on business in Thailand earning more than 1,800,000 Baht per annum must register for VAT within 30 days of the date they reach 1,800,000 Baht in sales or services. Case of require monthly report, the monthly report will be done in our office and will be finished and sent you within 25th of the following month. The police record of the director, due to the officer will conduct a background check of the companyâs director as below; Property or registered asset (car, machine) must submit the copy of evidence that shows limited partnership or company limited has ownership right. To legalize translated official Thai documents, the original and translated document must be sent together with the name and phone number of the translator clearly shown. Panwa: Due to your question is not clear, itâs depend on the purpose of transferring to Thailand such as transfering for investment or loan to Thai company there is no tax (not subject to Tax) in Thailand. Q48: If I use your address for Tax ID and VAT registration - can I have an office location is another place, eg Silom or Sukhumvit or Wireless road. You do not put that capital fund into bank that mean still keep in your personal bank, that fund must be recorded as âLoan to directorâ, this kind of income is âInterestâ form its loan. Q33: After read the information on your website, knowing that if we form a private limited company in Thailand, the majority share must be on Thais. Let our Thai lawyers or any of our foreign lawyers provide you with guidance when registering your limited company in Thailand. Paid up capital, Does it need to deposit into company bank? In the same case study; tax amount for capital Baht 5 million with paid up capital 25% is Moreover, with respect to your request, kindly be informed that our firm serve as a cheap model, thus, we prefer to serve directly to customers as mentioned in the website (right side, red box), hence, we would appreciate and thank you in advance if you let your customers contact us directly. The first step is the reservation of a company name.This is done online with the Department of Business Registration.Usually 3 names are given, ranked by preference, and approval of the name will usually take up till 3 days. We recommends you to set up company with capital of Baht 1 million and paid up only 25% of registered capital. Panwa: We would like to inform you that the export unprocessed agricultural products do not fall into VAT exemption (exemption only sale locally) so your business have to register for VAT, please read below Revenue Code, Section 81. Reporting business movements in Thailand to the head office. Panwa: Yes, our office can provide the address for registration company our fee is Baht 18,000 per year. Registration certificate of the original company : 170. Establishment of Company Limited Section 81 Value added tax shall be exempt on the following businesses: (1) sale of goods but not for export purpose or provision of services as follows-, (a) sale of agricultural products whether they are trunks, branch, leaf, bark, offshoot, root, bud, bulb, pod, seed or other parts of plants and their by-products in fresh or preserved condition in order to temporarily prevent from spoiling during transportation by chilling, frozen means or by other means or preservation to prevent from spoiling for retail sale or whole sale by chilling, frozen, drying , grinding, segmentation method or by other method, white rice or by-product from rice milling but not including wood, firewood or products from wood sawing or food products in can container or package processed on manufacturing basis in accordance with terms and conditions prescribed by the Director-General.7. Q16-B: I have my other questions answered already from your website, all i want to know now is if i setup in bangkok, can i operate in phuket? Q12: We are Singaporean Company base in Singapore we want to set up company in Thailand without office and staff there, can do? How much will it cost ? 26th â 27th            we do prepare calculation personal income tax, and detail of salary payment. BOI allow the company to apply before company registration (you can apply under individual name) when the project is approved you can register the company later to obtain the BOI certificate and that time you will know all of their requirements especially the registered capital and location. As I am auditor who are very conservative in publishing information and try to set framework content for you to clarify on overall structures, some content and information are hardly to disclose and explain on this publication, in case of you have further information or need to know in deep details of any matters related to setting up company in Thailand, you can contact me either via email at bkk@panwa.co.th or phone +66 2 933 6121 (to 2). Q95: If I choose to have office address with you how do I pay rent? Q38: I am looking for information on import tariffs, custom duties, and excise tax rates for every product category in every country. Panwa: We can propose you the service of company registration with the fee of Baht 15,000 and please note that after your company registrationâs completed, you need to apply for export and import license as well. Since May 2018, the Government reduces the government fee to be flat rate. Accounting, tax and social security services. Capital not exceeding The Royal Thai Consulate is not responsible for contents of the translation. We will send you the copy of receipt by email or fax (upon your request) for your reference with 8th or 16th for VAT filling. Panwa: Yes, you can reimburse from your newly set up company if you have declared into the registration form and this amount can be a part of capital fund and also can use as tax deductable expenses. ** Case of request by tax officer, we will take a responsibility to meet, declare on behalf of your company. (2) Be 12 years old or above Local Thai director service, required minimum of 6 months period with the fee of Baht ____ (case by case). Company registration and setting up in Thailand, Corporate and Company Secretarial services in Thailand, your business entity can be easily started in a few days with reasonable cost (cheap cost), call us +66 2933 9000 : PG Corporate Service Co., Ltd. Personal profile - Mr.Prasert Poothong In case the foreign investment lower than 50% or being signatory director, all Thai shareholders must present evidence of source of funds issued by bank (it's mean letter issued by bank to prove that related fund are keeping at bank), refer to DBD's Regulation no.205/2555. a. Request Tax Certificate in English. Panwa: I recommend you to register 1 million itâs better, because of the cost of Government fee itâs the same cost, and please donât worry about the money deposit in the Bank. http://www.panwagroup.com/setupcompanythailand.htm. Note: All packages are exclusive of VAT and government fees. Entrepreneurs who wish to know more about the process of, Change the Registered Office of Your Thai Company, Taxation of Holding Companies in Thailand, Set Up a Company for Selling Flowers in Thailand. d. VAT, there are no requirement for registration of dormant company because of income still not exceeding Baht 1.8 million. Actually you should meet the expert advisor who has long experience to help you to give advise to you not only on the setting up of company but also on the tax structure, regulations related to your business and also accounting system and financial control, thatâs why I can say itâs not difficult when we compare with opportunity on the profitable on your business. tax rate, is not acceptable for incentive rate, meanwhile the private company is very low tax rate especially for buying a old company there is 0% tax for this year and also 10% tax for the next year if the income is not exceeding Baht 30 million. Around 6th or 7th our staff (messenger) will visit and pick up the tax amount in Cheque and will file to tax office in the same day. Further Information for company registration by Foreigner,  1.Guidelines for forming a limited company in Thailand. หมายบังคับคดีของศาล : Summons: 173. Panwa: Expenses occure before incorporation date and related to this setting up are allow to be deductible expense but must to declare those amount into "Minute of Statury Meeting" in step of company registration and also need to collect the bills to support too. A fraction of 100,000 baht is regarded as 100,000 baht. (5) Name, address, age, occupation and number of shares that persons who start up the company reserve to buy the shares) *** For more information of Alien (Foreign) Business Act.1999 and its annexs, please visit our website at: http://www.panwagroup.com/foreignbusinessact.htm. สำเนาคำพิพากษา : Copy of court's decision: 172. Normally, dormant company no business activity will no withholding tax amount. Meeting agenda. Therefore better to find the office place first. Thailand Company Registration . The promoters shall turn over the business to the directors. Who will absorb property tax for the rate 12.5% of whole year rental payment. For example, is it ok for USD100K equivalent to 3million baht? the fee for registering any types of changes to the company particulars is 20 Baht for each registration; the fee for the issuance of a Business Registration Certificate Substitute is 30 baht for each copy; the same fee applies for a request to make certified copies of documents related to business registration; registration certificate fee: a subsequent fee can apply for the registration certificate for companies. If want to open branch office then what kind of docs you need & what kind of restrictions are there. Q70. - for annex 2 alien can hold share up to 60% if obtain license approved by Department of Business Development and can hold share up to 75% if obtain license approved by Minister and To renew visa to be 1 year, when you complete filing for 3 months of both PND.1 and SSF you can renew the visa to be 1 year visa at Immigration Office. Obtaining information about Thai companies is also crucial when you intend to establish joint ventures or partnerships in the country, or to know if it is worth it to pursue legal action after an issue has come up with a company in Thailand.The Department of Business Development (DBD) in Thailand from within the Ministry of Commerce is a reliable source of information where you can obtain data on the history of a Thai company. Panwa: At first you need to register the company, then kindly note that for your business, after you finished the process of company registration then you need to apply the licenses for Food and Beverage license and Liquor license first before starting to do the business, which if the food need to cook first before sale, you also need to get the permission from the local district area as well, but if in case ready-made food (instant food) to sale, no need to apply more permission. This process can complete within 2 or 3 working days. WhatsApp : +66 81 919 6225. - 2nd paragraph the PIT is imposed based on "Resident Rule" for the case you reside in Thailand totaling 180 days of tax year and bring that assessable income into Thailand in the same of tax year (if bring in difference of that tax year is no need to pay tax in Thailand). Rights granted with unlimited time and equal zones to the following: For more information of BOI privilege you can visit our website at; http://www.panwagroup.com/boithailand.html. Where can I find this information? A Thailand foreign company is a business entity which shares are majority-owned by non-Thai nationals or foreigners. For more information, please feel free to contact us: Call to Mr.PP (Prasert Poothong): Hi there Visitors and Prospected Clients. Q15: How many Directors required in the company? a>. Thai limited companies are the most common form of business registration in Thailand. This is a kind of company which is formed with a capital divided into equal shares, the liability of the shareholders being limited to the amount unpaid on the shares respectively held by them. However we wish to own the majority stake in the Company. Q 75: And how we should learn before talk to the building owner or landlorad? But for the case of the fund is derived by income generated outside Thailand, itâs subject to Tax in Thailand. Government fee is higher than private company. Interloop Solutions & Consultancy can make it simple. If all 3 named submitted are rejected the applicant will be required to re-submit the form with another 3 new names. step C. To get certification at Ministry of commerce, take time around 15 days. It can be a very important document and in some cases a foreign national is eligible to receive one. Please be informed that in step of company registration stated in the registration form, it must be declared that the investment fund will be kept with the Director. step A. Panwa: Actually our service fee start at Baht 17,000 which covering; company's name reservation, preparing registration form such as Memorandum, Company's Article, Sharholders' List and etc, and its form submission to Ministry of Commerce for company registration and of course we can provide free of charge for VAT registration too but it's must be applied within 6 months when the quotation is approved. No other company can make use of that name in thailand. If so, what its requirement. Q3: What is the rule & regulation apply in-order to be 100% foreign ownership? Q 43: Can we create a 'bookself' company, having 0 revenue, and paying the very minimum until we are ready to open business? step B. Just to double confirm that we dont need to physical transfer the funds to Thailand, correct? No resolutions of the statutory meeting are valid unless passed by a majority including at least one half of the total number of subscribers entitled to vote, and representing at least one half of the total number of shares to such subscribers. Dissemination of various information pertaining to new goods or services offered by the head office. For paid up Share â For now, we will put partially paid up of 25% first then we will just update to 100% since our Thai nominee will need to show his bank statement. 3. Panwa: Yes, you can and many Thai companies have done this way as well for prevention be visited by tax officer to work station but I do not recommend due to under the law the company address should be the same place of work station, case of different the work station or place which generate income need to register for branch office. (3) Persons who start up the company assign all the affairs to the director. For size 10 staffs, Service fee is Baht 15,000 per month. contact us COMPANY REGISTRATION For registering a Thai Limited Liability Company (LLC) with […] b. register as Private Company, you can apply FDA license. Q35: At the beginning, in order to reduce the fix costs and test the market, I would prefer to setup a home office (I am the owner of my condominium). Open bank account the fee is Baht 5,000. Q52: Our company are planing to set up subsidiary company in Thailand, may I know the expenses will be occured during the setting up process can be deductible expenses and how? Q69: What is the paid up capital requirement? How many days in advance should be put the money? c. Monthly withholding tax, will withhold and be paid within 7th day of the following month. My service fee for register company (step 1) is Baht 17,000Â, My service fee covering for step B and C is Baht 35,000. Corporate income tax (CIT), imposed base on ânet profitâ below is tax rate for year 2017 - 2019 as below: Incentive for SME To register a company under Treaty of Amity, the rough steps as below: Q 88: If we request your company service, the fees will be 7000 baht. Could you please give me some advice? ( BOI card issued before 1st December 2001 has no limitation on exemption of income tax). Panwa: kindly note that it is possible to have 1 Thai shareholder who holds 51% and 2 foreigners hold a total of 49% and there is no problem also if both foreigner shareholders would also be director. (4) The fixing of the number of preference shares, if any, to be issued, and the nature and extent of the preferential rights accruing to them. Agreement, who will draft and that agreement have English version? Q62: As on Indian Passport we can get 14 days VISA on Arrival but if need to get 1-2 years multiple Business VISA then can get on basis on our company in Thailand (if we register a new company) OR need to do business for 1-2 years then can apply. CIT = Baht 0.00 per year. foreign direct investment has an average of 20451.47. Consultation for being majority shareholder. You’ll need a Residence Certificate for many cases in Thailand.