You must have read our previous articles where we guided you on the various process and requirements for company registration in Thailand. In this article, we will discuss company registration fees in Thailand. To register any kind of company in Thailand, you need to pay a registration fee with the full process notably for registration. Additionally, you must be present in Thailand and have a copy of the leasing agreement for real business registration.
- Thai Private Limited Company Registration Fees
- Thai Public Limited Company Registration Fees
- Estimate of Company Registration Fees in Thailand
- Government Fees for Company Registration in Thailand
Private Limited Company Registration Fee in Thailand
A limited partnership must have at least seven shareholders. Moreover, one of them must be a juristic person with the ability to sign all documents on behalf of the company. When establishing a Thai company with no foreign employees, the minimum capital requirement is 300,000 THB. However, at least 30,000 THB payments must be done at the time of registration.
It becomes a little more tricky if there is a foreign employer in the organization. In that instance, the company must have a minimum registered capital of 2,000,000 THB. Moreover, this will need the employment of at least four Thais. Additionally, you must justify the foreigner’s employment on the basis of their talents and the job’s requirements.
The official charge for registering a private limited company’s memorandum of association is 50 THB per 100,000 THB of registered capital. You must spend a minimum of 500 THB and a maximum of 25,000 THB for this service.
Public Limited Company Registration Fee in Thailand
For a public limited corporation with 1,000,000 THB of capital, the official registration charge is 1,000 THB. The highest amount payable is 25,000 THB. Although there are no limits to the amount of cash that can be raised, it must be sufficient for the business operation in the proposal.
Firm tax is not paid on a monthly basis, but rather at the end of the year based on your audited income statement. Elsewise, if your company is large enough, the revenue department may ask you to forecast turnover and pay a portion of the annual tax based on this estimate. Naturally, you pay VAT on all purchases, and if your annual turnover exceeds the VAT threshold, you must register for VAT and charge it on each invoice. This VAT must then be paid on a monthly basis, so if you give clients a long credit period, be aware that your VAT payments may be due before you are paid.
Estimate: Company Registration Fee in Thailand
The following is a list of the estimated company registration fees in Thailand:
- The service cost for company registration is 17,000 THB (in the case of registered capital of less than 5,000,000 THB).
- 500 THB for company stamp.
- It is not necessary to pay for tax identification.
- Registration for VAT is free of charge.
- The government charge is exclusively determined by the amount of capital, with the first 1,000,000 THB costing 6,500 THB and each subsequent 1,000,000 THB costing 6,000 THB.
- Because government fees fluctuate, the total cost of registering a business varies. However, it is anywhere between 24,000 THB and 30,000 THB.
- The service cost is also subject to a 7% VAT. (1,190 THB)
- With VAT, the amount comes from roughly Baht 25,000 THB to 31,000 THB.
Apart from advisory expenses, they all include company registration in Thailand. Importantly, you will need proper legal counsel and expert support in ascertaining accurate estimation to start your business in Thailand. Keep in mind that the cost of applying for a visa and obtaining a work permit is not included in the estimate.
Government Fees
Government fees are proportional to the size of the company’s registered capital. And, in order to recognize the minimal amount of registered capital that a company should have, we must examine the following:
- The registered capital can be as low as 5 THB per share. This is if a company’s primary shareholders are Thai. Moreover, there must be no plans to hire any foreigners. A company’s registered capital can be as low as 15 THB, as long as it has at least three shareholders. The government fee to form a corporation in Thailand, however, is the same irrespective of the capital. So the government fee for forming a Thai business is around 7,000 THB for a 1,000,000 THB registered capital.
- If a company has Thai majority owners and plans to engage a foreigner, the capital must be at least 2,000,000 THB. The capital requirement is 1,000,000 THB if the foreign employee is a spouse of a Thai native. Basically, the corporation requires 2,000,000 THB in registered capital for each work permit it sponsors. Moreover, the government charge for forming a Thai corporation is 12,000 THB for capital worth 2,000,000 THB. For each additional million, you must pay an additional 6,000 THB.
- For any type of business in Thailand, 3,000,000 THB in registered capital is the minimum requirement. However, this is in case you have foreign majority owners. With each 3,000,000 THB in the capital, you will be able to sponsor one work permit. As a result, if you just wish to run one firm, your new company must have at least 3,000,000 THB in registered capital. The government price for forming the company is approximately 18,000 THB. However, the fee for obtaining a licence to operate a foreign business in Thailand is approximately 35,000 THB.
Contact Us
But as told previously, for any type of incorporation and registration in Thailand you need proper legal counsel and assistance. Write to us at [email protected] for support in Company Registration in Thailand.
