How Do You Start an Online Business in Bangkok as a Foreigner?
To be in the competition you must be where the mass is. Since every business in Thailand has an online presence why would you lag behind? And when starting an online business in Bangkok is so easy you need not worry. So what you are a foreigner? Thailand being a foreigner friendly country you need not worry about. And if you are the US Citizen you can always use the Amity Treaty to derive both tax and non-tax benefits.
These are the forms of company you can consider;
- Private Limited
- Sole Proprietorship
- Partnership
- Unregistered Ordinary Partnership
- Registered Ordinary Partnership
- Limited Partnership
- Public Limited
Once you are decided on the type of company, you must gather all these documents for registration;
- Name of the company (3 proposed names);
- Your confirm of the address for the registered address (Head Office);
- Your business objective
- A copy of passport for the 3 the Promoters/Shareholders
- Authorized director(s) name, in case you nominate more than one director. Ensure that you specify the signatory conditions
Follow these simple steps to get your online business registered in Bangkok;
- Company’s Name Registration: The company’s name should not be similar to any Thai company’s name. The Business Development Office’s guidelines assist in deciding a name for your company. However, the approved name will be valid for thirty days without any extension.
- Filing the MOA: The Memorandum of Association needs to be filed for company’s registration. Typically, the MOA is filed with the Business Development Office.
- Company’s Registration: The directors should submit their company’s establishment application within the three months of the Statutory Meeting. As for the fees, the amount for company registration is 500 baht each 100,000 baht of the registered capital.
- Statutory Meet: Upon elaborating the share structure, a statutory meeting is convened, wherein the articles of incorporation are approved. Also, the Board of Directors is decided.
- Tax Registration: Businesses should obtain their tax I.D. card as well as the number for the company within sixty days of the incorporation from the Thai Revenue Department. Companies earning 600,000 baht or more per annum should register for VAT.
