Thai Corporate Documents – The Memorandun of Association

January 23 2012 Categories: Thailand Business, Thailand Company Registration No comments yet

In a previous post I explained step by step the formalities to incorporate a Thai Limited Company. Many readers have contacted me to request whether I could also post the english translation of Thai Limited Company documents for information. Today and the next few days I will post the translations of the main corporate documents of a Thai Private Limited company. Please note that this is an unofficial translation only.

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Originally posted 2009-09-03 14:40:40.

Company Criminal Liability: May a Company be Prosecuted?

January 22 2012 Categories: Thailand Business, Thailand Company Registration No comments yet

While companies are juristic persons and cannot be as such subject to the punishment of imprisonment it does not mean that a company may not be prosecuted for a criminal offence in Thailand. To the contrary, companies may be prosecuted the same way as individuals.

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Originally posted 2009-12-15 10:20:04.

Buying a Business: what are your options?

January 22 2012 Categories: Doing Business In Thailand, Thailand Business No comments yet

An investor that desires to buy a business in Thailand will have several options as follows:

1. Acquisition of Shares

2. Transfer of the Entire Business Assets

-          with immediate liquidation of the transferor company

-          without liquidation of the transferor company

3. Amalgamation

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Originally posted 2009-09-11 06:14:37.

Business Registration: Company Registration Step by Step

January 22 2012 Categories: Thailand Business, Thailand Company Registration No comments yet

The private limited company is the legal vehicle that is the most commonly used by foreign investors in Thailand and we will hereinafter review the formalities of registration of a private limited company. In this article we will only review the conditions of incorporation of a Private Limited Company to the exclusion of nominees and Thai/foreign shareholders ratio which are discussed in other posts. [This post replace our previous post on the subject “How to register a company step by step”.

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Originally posted 2009-10-20 07:09:45.

The Letter of the Foreign Community to Thai Somchai (Santa) Claus

January 20 2012 Categories: Doing Business In Thailand No comments yet

I wish you all a Happy Christmas and Best Wishes for 2010 and I hope that we will see many of you in Thailand next year. Now if Somchai (Santa) Claus was Thai what would be the wish list of the Foreign Community in Thailand?

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Originally posted 2009-12-24 07:15:15.

Thailand 2011 Ranking In Competitiveness

January 20 2012 Categories: Doing Business In Thailand, Thailand Business No comments yet

I just read an article from the Nation about a survey from IMD ranking Thailand as 17th in terms of diversification. According to the Nation “According to IMD, in terms of diversification of the economy, Thailand is ranked the 17th. Among Asian economies, it is lagging behind Korea (3), Taiwan (4), India (8), Japan (10), Malaysia (14) and China (16). However, its ranking is higher than that of Singapore (20), Indonesia (24), Hong Kong (30) and the Philippines (44)”. Now the problem with the Nation article is that i cannot find the results on the IMD website.

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Investing in Thailand: Prohibited or controlled businesses

January 19 2012 Categories: Thailand Foreign Business Act No comments yet

What is the Foreign Business Act?

The Foreign Business Act B.E. 2542 (A.D.1999) (“FBA”) was enacted on March 4, 2000 to replace the Alien Business Act of 1971. The FBA does not regulate the entire matter of foreign investment in Thailand. The FBA purposes are:

  1. to define businesses activities, which exercise by foreigners, is prohibited or controlled and
  2. to define what a foreigner is.

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Originally posted 2009-07-21 08:54:44.

Corporate: Disclosure requirement of Thai shareholders

January 19 2012 Categories: Thailand Business, Thailand Company Registration No comments yet

What is the disclosure requirement?

The disclosure requirement was one of the measures taken by the Thai Government to avoid the use of Thai nominees by foreign investors. Since August 14th 2006, the Department of Business Development is compelled to require at time of incorporation of a company that the company Thai shareholders justify the source of their investment if certain circumstances are met.

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Originally posted 2009-07-24 10:40:28.

Thailand – Short Term Business Trip – Do you need a work permit?

January 19 2012 Categories: Doing Business In Thailand, Thailand Business, Thailand Visas, Thailand Visas & Work Permit, Thailand Work Permit No comments yet

Many foreigners enter Thailand for short businesses trip of one or two days whether for the purpose of negotiating an agreement, to attend or to speak at a conference, to provide technical support, or to source a local supplier, without being aware that the purpose of their visit requires a work permit in accordance with Thai laws.

Indeed Thai Labor law work definition is very broad and consists of exercising any activity whereby one exerts energy or uses knowledge, whether or not in consideration for wages or other benefits relating to business deemed as work under the law. It furthermore covers any work-related activity, either permanently or temporarily.

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Thai Corporate Documents – The Statutory Meeting

January 18 2012 Categories: Thailand Business, Thailand Company Registration No comments yet

In a previous post I explained step by step the formalities to incorporate a Thai Limited Company. Many readers have contacted me to request whether I could also post the english translation of Thai Limited Company most important documents for information. After the Memorandum of Association (please see previous post) please see below a translation of the Minutes of the Statutory Meeting. Please note that this is an unofficial translation only.

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Originally posted 2009-09-04 07:35:27.