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

Greenwich Mean Time +7

 

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 currenciesThai Baht
Standard currencyThai Baht
Minimum issued capitalMust be adequate for operation, but subject to minimum requirements under relevant specific laws and nature of businesses
Authorised capitalMostly paid-up in full, but not less than 25% of issued capital
Par / nominal valueBaht 5 per share
DIRECTORS
MinimumOne (1)
Corporate directorNot allowed
Local director requirementsNo
Location of meetingAnywhere, but require physical presence to quorum the meeting
Minimum number of meetingsPer Articles of Association
Publicly accessible recordsYes
SHAREHOLDERS
MinimumThree (3)
Bearer sharesYes, but not popular
Corporate shareholdersAllowed
Local shareholder requirementsYes, 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 meetingIn Thailand, but not restricted
Minimum number of meetingsOne (1) annually
Publicly accessible recordsYes
COMPANY SECRETARY
RequirementsNo
REGISTERED OFFICE
RequirementsMust be the place of operating activities; virtual office is not allowed
ACCOUNTS
Preparation of accountsYes
Audit requirements and filingYes
Publicly accessible recordsYes
TAXATION
Corporate tax20%
Foreign-sourced incomeTaxable in Thailand
Capital gains taxYes
ANNUAL REQUIREMENTS
Annual returnYes
Tax filingYes
GENERAL
Legal systemCivil Law
Corporate re-domiciliationNo
Double taxation treaty accessYes
Exchange controlYes

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.