Business plan representative office thailand
It is extremely important to know the penalties should you not adhere to the restrictions imposed. However, after the name has expired, the promoter can still re-apply for Name Reservation again and again if the name is still available.
Search for a source of goods or services in Thailand for a headquarters overseas; 2.
Representative office dbd
As a result there are many agencies who can support foreigners setting up their business, but for a fee. Can I own or buy assets through the business? Still, it functions as a separate tax entity. You can also find out about the status of Thai infrastructure, including facilities such as airports, deep sea ports, and highways, and the availability of power, water and telecommunications. When you are considering starting a business in Thailand you will need to understand what options are available to you in the same way that you would if you were in your home country. Sure, business costs are lower, but with that comes red tape — in business, banking and legalities. This is mainly because of the similarity of its structure to corporations in other countries. Get the full rundown on corporate tax rules here. Advise the headquarters about what goods to order; 4. The arrangement of these tasks requires special know-how and expertise. Some business activities are not permitted to be conducted by foreigners as they would provide too much competition for the local labour market. The chances are you will only receive an ATM card as the bank will not grant you a cheque book. While the scope of business of a Thai corporation Company Limited is generally unlimited, the Representative Office renders its service to the head office or an affiliated company or a group company only.
If the company intends to employ foreigners, other minimum registered capital requirements may also be applied.
Many times, the first name or even the first two names are rejected due to the violation of one of the two rules stated above.
Cross-border tax planning is an underestimated but often the paramount aspect of the structuring of a representative office in Thailand.
You'll need a company chop stampwhich acts as the signature to certify company documents.
Business plan representative office thailand
The Alien Occupation Law requires all foreigners working in Thailand to obtain a Work Permit prior to starting work in the Kingdom, except when they are applying under the Investment Promotion Law, in which case they have 30 days to apply. It is recommended that you apply for these at the Thai embassy or consulate in your home country prior to travel. Limited Company. For a public limited company, the official registration fee is 1, baht per 1,, baht of registered capital. As it currently stands, the minimum capital requirement for a Thai majority shareholder company limited is 2 million Baht, with a government set up fee of roughly 7, Baht. The Patent Act protects both inventions and product designs and pharmaceuticals. Failure to do so can lead to the company being delisted. These include: A copy of a contract which has been signed or a proof of the project approval if the contract has not yet been signed ; A letter, released by the contracting party and directed to the Director General of the Business Development Department, that will certify the project. Under certain circumstances, the use of preferential voting rights and the requirement of a super majority of shares to votes may alter voting rights in favour of minority shareholders. Buying property in this manner is common practice although it should be noted that the company should not be setup purely for this purpose as this is illegal.
It concerns for example requirements regarding the minimum capital 3, THBthe ratio between the loans and inward remitted funds maximum 7 to 1 and the need to have at least one person domiciled in Thailand.
A representative office that has sourced more than , THB goods from Thailand during the preceding year may be eligible for even more work permits. A Branch is not a separate legal entity but a part of the main company. However, it is necessary for the business operator to obtain the FBL before starting business in Thailand.
Report economic movement in Thailand to the headquarters. This includes a description of the company functions and an explanation why the office is necessary. A fraction of 1, baht is regarded as 1, baht. Limited Company As with pretty much every other country in the world, there are two forms of Limited Company.
based on 74 review