Setting up company - Chumporn

by Panwa Group of Companies

Setting Up Company, Company Registration, Company Formatting - Chumporn (ชุมพร)

What we serve you for set up company in Thailand

Fee;   Baht 15,000.
*** Covering company registration,, Application for Tax ID. Number and VAT.
*** Do not cover; Company Share Certificate, Share Certificate Book.
++ In case of sending documents to be signed outside Thailand, the above fee will have an additional charge of Baht 5,000.
++ Incase the delay came from your side, which will extend the time for registration more than 1 month, the above fee will have an additional charge at rate 20% per each month of delay.

Other services, if you need;

• Usage our address for only registration is Baht 12,000 per year.
• Usage of office address and handling mails. Our fee for 1st month 5,000 Baht, 2nd month onwards 3,000 Baht.
• Business package; doing business is easy through our services, no need to have office, staff and no need to come to Thailand... you are able to start business here Click Here.
• Dormant (Shelf) company ready for sale, contact us.

Procedures and Timeline:

Our procedure will be finished within 1 week, below is the sample of timeline. Assume that we have obtained information for setting up a private company from your side by complete the "Setting Up Company Info" on Jan 22, 2010, so below is the process and timeline of company registration:

 Remark:

1. Step of company registration, DBD requires Thai shareholder to present their bank statement.
2. The above timeline may be changed depend on your support of documents and if signatory director will standby here or not.
3. The above requirement based on usage of Panwa address which mostly required on VAT process will be provided by us,  case of use other address please let us know immediately and be informed that still need to support us about evident of using its address including office’s picture, location map and etc.

*** Government fee depends on capital, for Baht 1 million is Baht 6,500 and will plus Baht 5,050 for every capital increase of Baht 1 million.***

Required Document for Company Registration:

1. -       Copy of ID card or Passport of every director(s) with certify.
2. -       Copy of ID card or Passport of every promoter(s) with certify.
3. -       Copy of ID card or Passport of 2 witness(s) with certify.
4. -       Copy of Housing registration.

 Required Documents for Tax ID Number registration: please visit our website at: http://www.panwagroup.com/taxid.htm (free of charge)

 Required Documents for VAT registration (if need to apply): please visit our website at: http://www.panwagroup.com/vatregistration.htm (free of charge)

Further Information for company registration by Foreigner

 1.Guidelines for forming a limited company in Thailand

We would like to explain you the guidelines for forming a limited company in Thailand as below:

Company Limited
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.

Corporate name reservation
The name to be reserved must not be the same or close to that of other companies, which approved by the Commercial Registration Department at the Ministry of Commerce. The approved corporate name is valid for 30 days. No extension is allowed.

Establishment of Company Limited
In order to establish a company limited, the registration must be processed according to the following:
    1. Must have at least 3 persons signing together in order to prepare Memorandum and then register. Upon receiving the amount of shares, the director must register as the company within 3 months from the date of company’s meeting to establish the company.

The promoters must have the following qualifications :
            (1) Be ordinary person, not juristic person
            (2) Be 12 years old or above
            (3) Must reserve to buy at least 1 share

Information used to register the Memorandum
            (1) Company’s name (the same as the name reserved)
            (2) Location of head office (located at which province)
            (3) Objective of the company
            (4) Registered capital must be divided into each share with the same value (share’s value must be at least 5 Baht)
            (5) Name, address, age, occupation and number of shares that persons who start up the company reserve to buy the shares)
            (6) Name, address, age of 2 witnesses
    2. When the Memorandum has been registered, shall perform the following:
            (1). Every promoter can manage to reserve and buy all the shares
            (2). When all the shares are reserved, the promoters must not delay to hold a general meeting of subscribers which shall be called the statutory meeting.
    3. Meeting agenda.
            (1) The adoption of the regulations of the company, if any.
            (2) The ratification of any contracts entered into and any expenses incurred by the promoters in promoting the company.
            (3) The fixing of the amount, if any, to be paid to the promoters.
            (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.
            (5) The fixing of the number of ordinary shares or preference shares to be allotted as fully or partly paid-up otherwise than in money, if any, and the amount up to which they shall be considered as paid-up.
            The description of the services or property in return for which such ordinary shares or preferred shares shall be allotted as paid-up shall be expressly laid down before the meeting
            (6) The appointment of the first directors and auditors and the fixing of their respective powers.
             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.
    4. The promoters shall turn over the business to the directors.
    5. The directors shall request the promoters and subscribers to pay forth with upon each share payable in money such amount, not less than twenty-five percent of the share's value.
    6. When the collection of share’s price is complete, the authorized director shall prepare the request for the registration of company’s establishment and submit to the registrar.
      Regarding the submission for registration, the authorized director shall sign the name on the request and must submit to register within 3 months from the date of company statutory meeting. If not registered within the specified period, the company statutory meeting shall be void and if would like to register to establish the company, shall arrange the meeting for persons who reserve to buy the shares again.
    3. Regarding the company establishment, if can perform every step as follows within the same day that the promoters prepare the Memorandum, and the director can request to register the Memorandum and register the company within the same day.
          (1) Shall have the persons reserve to buy all the shares that the company can be registered.
          (2) Arrange the meeting to establish the company to consider various affairs according to the Civil and Commercial Code, section 1108, and all the persons who start up the company and all the persons who reserve to buy the shares shall attend the meeting, and all of them shall agree in the affairs in the meeting.
          (3) Persons who start up the company assign all the affairs to the director.
          (4) The director call the person who reserves to buy the shares to pay the shares according to the Civil and Commercial Code, section 1110, section 2 and such share’s price has already been paid.

Registration
      The registration for a company limited shall be divided into 2 steps as follows:
      1. Registering the Memorandum.
      2. Registering the establishment of a company limited

Tax ID Number Registration
Businesses liable for income tax must obtain a tax I.D. card and number for the company from the Revenue Department within 60 days of incorporation or start of operations. For more information please visit our website at: http://www.panwagroup.com/taxid.htm

VAT Registration
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. For more information please visit our website at: http://www.panwagroup.com/vatregistration.htm

2. For the new rules and regulations in registration of a new company in Thailand, please notice that:

a, A private company, mostly the foreigner or foreign company can hold maximum 49% and the other 51% will be held by Thai, to follow this regulation you can find some Thai people to be nominee. However foreigner or foreigne company can hold more than 50% up to 100% to be majority shareholder by 3 channels, please contact us for more information.

b. In case that a foreigner shareholder holds more than 30% of company shares, the Government will require all Thai shareholders to declare their bank statement of the respected amount. In case could not present bank statement, we will avoid this regulation by registration with 2 steps; Please contact for its solution.

Q & A

Accounting, Auditing, Tax and Incorporated registration in Chumporn click here.

For your need in above package of doing business here in Thailand, contact us:
Phone Nos.: +66 2 933 6121, +66 2 933 6122, +66 2 933 5601
(for call inside Thailand use 0 instead of +66)
Fax: +66 2 933 6120
Email: mgr@panwa.co.th
Please CC: to our alternate email: panwagroup@gmail.com