How do you register a company?

The company registration process consists of 7 steps.

1. Choose and Reserve a Company Name for Registration

Before registering a company, you must first choose a company name. The name must not be the same as or too similar to an already registered company. It cannot include the names of ministries, departments, or agencies, nor can it include the names of the king or members of the royal family in the current royal lineage. The process for checking and reserving a company name involves two steps as follows:

1. Register as a member on the website of the Department of Business Development.

2. Go to the "Reserve Name/Check Corporate Registration" section to reserve your company name. You can submit up to 3 name options, which will be considered in order. If the first name is already taken or does not meet the criteria, the registrar will consider the next name in the list.

2. Register the Memorandum of Association and Submit It to the Registrar

The Memorandum of Association is a document that expresses the intention to establish a company and must be submitted to the registrar. It must be filed within 30 days from the date the registrar confirms the company name. If the MOA is submitted later than 30 days, the company name must be re-reserved. The Memorandum of Association includes the following information:

Information required for company establishment:

- Company name (as reserved)

- Address of the head office/branches

- Company objectives

- Registered capital

- Name, address, age, and nationality of two witnesses

- Articles of association (if applicable)

- Amount of capital (share capital) that has been called up, at least 25% of the registered capital

- Name, address, and age of directors

- List or number of directors with the authority to sign on behalf of the company (director authority)

- Name, license number, and compensation of the certified public accountant

- Name, address, nationality, and number of shares held by each shareholder

3. Open Share Subscription and Schedule a Shareholder Meeting

After the Memorandum of Association is registered, the next step is to open share subscriptions. Anyone can purchase shares, not just the founders. A minimum of one share must be purchased. Once all shares have been sold, a notice must be issued to schedule a meeting with all shareholders.

4. Organize a Meeting with Personnel to Ensure Consistent Understanding

The next step is to organize a meeting with the selected personnel in the company to ensure everyone has a consistent understanding of the information. The agenda of the meeting should include important matters such as:

- Establishing the company’s regulations

- Electing the company’s board of directors

- Selecting an auditor to examine and certify the financial statements

- Approving contracts made by the founders prior to the company registration

- Compensation for the initiators or founders of the company

- The total number of shares of the company.

5. Establish the Company’s Board of Directors

During the meeting, a board of directors should be selected to collect at least 25% of the share value from the founders and those who subscribed to the shares. Once the shares are fully paid, the directors must submit a request to register the establishment of the company and complete the registration within 3 months from the date of the meeting. If the registration is delayed beyond this period, the meeting will be considered void, and a new meeting must be held.

6. Pay the Company Registration Fees

The following are the fees that must be paid for company registration:

- Fee for registering the Memorandum of Association: 50 THB per 100,000 THB of capital, with a minimum of 500 THB.

- Fee for company registration: 500 THB per 100,000 THB of registered capital, with a minimum of 5,000 THB.

- Fee for issuing a certificate: 200 THB per certificate.

- Fee for the registration certificate: 100 THB per certificate.

- Fee for certifying copies of documents: 50 THB per page.

- Stamp duty: 200 THB.

7. Receive the Certificate of Incorporation and Company Registration Certificate

The final step in company registration is receiving the certificate and company registration certificate. This means that the company has been properly registered according to the law and has been officially established. The documents can be collected at the Department of Business Development in the area where you reside.