Following on from our previous FAQ about dealing with company registration in Thailand we will now discuss a few more issues that are involved in the entire process. After all there are numerous laws in Thailand that will affect the company in Thailand as well as abroad and sadly company registration in Thailand cannot be achieved merely by filling out forms without having the knowledge of the application of law to guide you along your way also as without that serious problems and complications may occur. Company registration is an exhaustive process but the benefits of doing it are worth it although sadly many people see it as having too many hoops to jump through but for establishing a legal company in Thailand it is all required and it should be followed to the letter also.
As said there is an entire business act dedicated to company registration for foreign naturals in Thailand. It is lengthy and will not be discussed here but it needs to be adhered to and covers everything from shareholders to the number of staff the company can employ. For example did you know that you are legally required, under this act, through registering a company in Thailand, to employ a certain number of Thai staff to every foreign national you employ. This means that you have to be very particular in terms of the Thai staff you employ in terms of their skills and you also have to make sure that the foreign staff you employ are university educated so that they can legally be given a work permit which is one of the signs of legality in Thailand in terms of company registration and it also proves that the foreign national is also not a tourist which is a considerable boost also seeing as tourists are illegally not allowed to work in Thailand.
There was a time when a business could not be started in Thailand by less than 7 people but this was lowered to a much more respectable 3 which also meant that more and more foreign businesses sprung up which lead to more tightening of other rules. After all it is easy to start a company on paper but the idea of the company registration process that Thailand offers is to prove that what is set out on paper actually exists in the real world which proves that the business is legitimate and can provide advancement for Thailand and its economy in the area of business it is dealing with. This further means that the company has to provide, as part of the company registration process, evidence that it is viable and sustainable and can survive for a notable period of time (e.g. 3 – 4 years) as giving approval to a company registered in Thailand that only lasts six month is definitely what is known as bad business and this is why company registration in Thailand is such a strict and lengthy process but as with everything it is definitely worth it in the long run.
If you need to know more about Thailand company registration. Then please visit us.
If you need to know more about company registration in Thailand. Then please visit www.tilalegal.com