How to Set-up an Accounting Service Business

For a foreigner to set up an accounting service business, a limited company is the best option. In fact, that’s what the majority of them do. However, just so you know 51% of the shares must be with the Thais. Plus you must have 3 promoters of the company, who will be later converted into shareholders.

Incorporation of Your Company

This will require reserving the company’s name; the most important thing. The name can be chosen based on your preference. You just need to make sure that it doesn’t match with any. Make a note that a few words will be restricted from using.

However, once approved next step would be filing Memorandum of Association with the Commercial Registration Department.  The fee is 500 Baht approx. for every 100,000 Baht of the registered capital.

And then the final step of incorporation includes convening the statutory meeting. In here, a minimum 25% of the value of the subscribed share should be paid.

That’s being all; let’s go through the different documents you will require to incorporate an accounting business in Thailand;

1. Name of the designated company (please provide 3 names);
2. Registered address (in Thailand) for your company (please provide a copy of the house registration);
3. Company’s objective (please provide full detail of your business functions);
4. Shareholders Information:
   1. Copy of passport of your 3 promoters/shareholder;
   2. Share allocation of each shareholder;
5. Directorship Information:
   1. Name of the Authorized Director(s);
   2. Copy of passport for each Director;
   3. Signatory condition of the director(s)
6. The number of foreigners (non-Thai) that you expected to have been working for this juristic entity.

Apart from this, having an office space is equally important as you will need to show a registered address in Thailand. For that you can rent a space. The rate starts at 4,000 Baht per month with a lease period of 6 months. Additionally, you must have a corporate bank account. And for that you will need to submit the minutes of meeting of the boards of directors.

Hope this helps!