GENERAL INFORMATION
Thailand is a country in Southeast Asia, bordering Laos and the Kingdom of Cambodia to the east, the Gulf of Thailand and Malaysia to the south, and the Andaman Sea and Myanmar to the west. Bangkok is the capital city.
Thailand is regarded as one of the fast growing economies in Asia with corresponding improvement in quality of public services. It has a robust regulatory, supervisory and legal framework.
Other basic facts: | Time zone | +0700 GMT |
Official language | Thai. Dialects of Chinese, Malay and English are also widely used. | |
National currency | Thai Baht (THB) |
KEY CORPORATE FEATURES OF THAILAND LIMITED COMPANIES
| SHARE CAPITAL | |
| Permitted currencies | Thai Baht |
| Standard currency | Thai Baht |
| Minimum issued capital | Must be adequate for operation, but subject to minimum requirements under relevant specific laws and nature of businesses |
| Authorised capital | Mostly paid-up in full, but not less than 25% of issued capital |
| Par / nominal value | Baht 5 per share |
| DIRECTORS | |
| Minimum | One (1) |
| Corporate director | Not allowed |
| Local director requirements | No |
| Location of meeting | Anywhere, but require physical presence to quorum the meeting |
| Minimum number of meetings | Per Articles of Association |
| Publicly accessible records | Yes |
| SHAREHOLDERS | |
| Minimum | Three (3) |
| Bearer shares | Yes, but not popular |
| Corporate shareholders | Allowed |
| Local shareholder requirements | Yes, for some business activities under relevant specific laws. A company with foreign ownership in shares is subject to restriction and government control. Anyway, major foreign shareholding may be allowed up to 100% with or without license or permission depending on business activities |
| Location of meeting | In Thailand, but not restricted |
| Minimum number of meetings | One (1) annually |
| Publicly accessible records | Yes |
| COMPANY SECRETARY | |
| Minimum | No |
| Requirements | No |
| REGISTERED OFFICE | |
| Requirements | Must be the place of operating activities; virtual office is not allowed |
| ACCOUNTS | |
| Preparation of accounts | Yes |
| Audit requirements and filing | Yes |
| Publicly accessible records | Yes |
| TAXATION | |
| Corporate tax | 20% |
| Foreign-sourced income | Taxable in Thailand |
| Capital gains tax | Yes |
| ANNUAL REQUIREMENTS | |
| Annual return | Yes |
| Tax filing | Yes |
| GENERAL | |
| Legal system | Civil Law |
| Corporate re-domiciliation | No |
| Double taxation treaty access | Yes |
| Exchange control | Yes |
| Shelf companies available | No |
The information in this document is not advice of any kind but general information only and should not be relied on as legal advice. Kensington Trust Group recommends seeking professional advice on legal or tax issues affecting you before relying on it. While Kensington Trust Group tries to ensure that the content of this document is accurate, adequate or complete, it does not represent or warrant, express or implied, its accuracy, correctness, completeness or use of any of the information. Kensington Trust Group does not assume legal liability for any loss suffered as a result of or in relation to the use of this document. To the extent permitted by law, Kensington Trust Group excludes any liability for negligence, for any loss, including indirect or consequential damages arising from or in relation to the use of this document.