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A business can be set up in a
very short time, provided all the
necessary information is available
to us at the onset. The principal
types of business structures available
to the foreigner include:
a) registered partnership;
b) privately-held corporation;
c) publicly-held corporation;
d) branch, representative or regional
offices of foreign companies.
By far the most popular, as it
allows a wide latitude to the
business owners, is the privately-held
company.
The privately-held company requires
approximately four weeks to establish,
and the process takes place in
three stages:
Stage I:
Name reservation
Stage II: Filing of the
Memorandum of Association
Stage III: Company
registration
It should be noted that small,
privately-held corporations must
be 51% Thai-owned; U.S. citizens,
however, have the privilege of
setting up majority-American owned
companies, if they meet certain
criteria.
Those companies wishing to apply
for a work permit for their foreign
staff must demonstrate a minimum
capitalization of Two Million
Baht per foreign work permit.
How this requirement is implemented
will be discussed with each of
our clients at the outset of our
meetings.
Following incorporation,
companies must:
--establish an official office,
suitable for a number of staff
(minimum four Thai nationals);
--register the company with the
tax authorities;
--open a company current account.
With our team of experienced
legal and accounting personnel.
Saen Yim Co. Ltd will assure a smooth company
set-up and timely issuance of
the various licenses and work
permits required by your company
and staff.
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