Company set up

Company set-up

Before starting business in Thailand or buying a property in Phuket, we strongly recommend to all the clients to set up a new Thai company.

If you are serious about your business and protection of your assets, it should actually be the FIRST step you do here.

Limited liability company does exactly what its name suggests:

Creates a "buffer" between responsibilities that may arise from your business and your personal liability.

For us, this is the most important part of doing business, especially in another country.

The same applies for protection of your investment and assets in Thailand.

Protect yourself and your assets first.

Let's discuss Company set up a little bit more...

Just to outline a few checkpoints of the whole process:

You need a name of the company you want to set up. And you need to check if such a name does not exist yet
You need a seat of the Company (headquarters) and relevant paperwork from the owner of the property, including title of ownership
Depending on type of set-up process, you need 2 or 4 Thai shareholders at the beginning
You need Thai director at this stage
You need to set up all the shareholders and directors rules in Company bylaws properly
And at the end, you need to register your Company with relevant government body

For a start.

About Company set-up in Thailand

Setting up a company in Thailand looks like
"a template job", right?

Wrong.

Setting up a Company, no matter in what country, can be done 2 ways:

as a template job, with “friends”, help from Facebook and Google search
in a proper way

We do not know anyone, who was able to set up Company in Thailand by himself alone. Not only because of the language barrier. Not only because complicated and vague processing by Thai authorities. The main reason is – you are setting up a new legal entity and all its rules at this stage. And when 51 per cent of shares in the Company has to belong to a Thai person, for sure you want to set up all the rules, decision making, assets disposition and responsibilities right from the start. Right?

OK. Are there any good news at all?

Of course there are good news

First, we are fluid in the process of establishing a Company in Thailand and we delivered this service to many clients.

The second, the process is complicated only at the beginning. After Company set up you only need accounting (book keeping) services, which we also provide. You can learn more here.

Next, internal rules within your Company are very similar to what you are used to from your home country, so there is no need for a lawyer on this later.

And last, but not least: Yes, someone else can always do it cheaper. But do you really want to risk building something without proper foundation? We would not.

SECRET BONUS PRO TIP: Doing business or owning a property in Thailand as your Company asset, has a BIG tax advantages.
But this, we can maybe discuss in person later.

Contact

Free initial consultation:

Email us on

[email protected]

Cell / Whatsapp

+66 9871 55 201

Line app.

+66 9871 55 201

FB messenger

@iuraphuket

Instagram

@iuraphuket

@bestofphuket

What is next?

After incorporating the company and finishing the registration process with Thai government, you will need to change shareholders structure and the director, according to your plans.

If you want to apply for a work permit, becoming a director of your Company is the first step. Of course, we can manage all necessary visa and work permit paperwork for you. Here you can find more details about our visa and work permit services.

Further, you will need to keep books, meaning you will need an accountant and, depending on type of your business, tax advisor. You can use yours, or, if you do not know anyone trustworthy, our accountants and tax advisors can do this for you, long term, for a fair price. You can read about your accounting and tax services here.

Another important thing after establishing a Company is to decide, if you want the seat of the Company being kept in our headquarters or you want to move it somewhere else. For the beginning, we strongly recommend you to use our virtual office services, which allows you to have registered seat of your company at our premises, with post and secretary services being dealt with by our staff. It has a lot of benefits and is very convenient for you. You will find more about virtual office here.