Thai business, Thai company formation legal services

Thailand has become an important country for starting a business and a center for doing business in Asia. Whether legal assistance is required for setting up a company in Thailand or matters in relation to an existing Thai company or employment we offer cost effective legal solutions online. 

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  Company formation (Thai limited company)

• Setting up Thai incorporated limited liability company:

  • Thai company name search and registration
  • Memorandum of Association
  • Articles of Association
  • Tax ID registration
  • VAT registration (if required)
  • Preparation minutes of meeting and statutory meeting
  • Company registration
  • Translation Thai company documents
  • General legal advice
  • Work Permit

Resources:

How foreigners operate a business in Thailand Thai company formation Visas and work permit in Thailand Preference shares in a Thai company

Representative office in Thailand Regional office Foreign Business Act

  Legal service for company limited

Thailand has become an important country for starting a business and a center in Asia for doing business.

  Employment contracts

A contract of employment is an agreement between an employer and an employee (on the one end stands an employee who is employed by the employer). The employment contract sets out duties, right and responsibilities between parties such as the probation period, purpose of employment, working hours, the number of paid sick leave days per year, remuneration for work performed, public holidays and vacation leave, termination of employment. A written employment agreement is recommended and should be drafted by a skilled lawyer experienced with employment laws in Thailand.

A foreigner may work in Thailand only if he has a work permit and complies with the Alien Employment Act. The rights of employees and obligations of employers are specified in the Thailand Labor Protection Act. We draw up Thai and/or English employment contracts and provide general legal advice on the contract to be drawn up and on any employment contract or work permit issue.

• Work Permits in Thailand

  Accounting and Tax

Companies must keep books and follow accounting procedures specified in the Civil and Commercial Code, the Revenue Code and the Accounts Act. The director is responsible for the regular keeping of books and documents in accordance with the law and must file balance sheets and audited accounts every year with the Revenue Department and Ministry of Commerce. The basic accounting principles practiced in the Europe and the United States are accepted in Thailand. Accounting transactions may be recorded in a foreign language, but there should be a Thai translation.

 

Corporate income tax is imposed at a rate of 30 percent of net profits. Personal income tax is imposed at a progressive rate ranging from 5 percent to 37 percent. The government has reduced corporate tax rates to promote specific business sectors and small and medium enterprises. The tax rate for companies with a paid up share capital not more than 5 Million Thai Baht at the end of its tax year shall be taxed at rate of: 15% over the first one million Thai Baht profit,  25% over the profit between one million and three million and 30% for profits over three million Thai Baht. 

 

If it is expected that its gross income will exceed 1.8 million baht per annum the company must register for Value Added Tax within 30 days of the date they reach 1,8 million baht in sales. More information can be found on the Revenue Department Website.

 

Contact:

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