Thailand - Business Vehicles - Limited Company

1. Incorporation

In order to set up a limited company, the following basic procedures must be followed:-

- Filing a Memorandum of Association with the Company Registrar at the Ministry of Commerce. This should contain the name and location of the company, its objectives, capitalisation, the number of shares and value per share, as well as personal details of the promoters, (at least seven) and the number of shares to which each subscribe. There is no minimum capital requirement. The Fee to register the memorandum is 50 baht per 100,000 baht of capitalisation, subject to a minimum fee of 500 baht, and a maximum of 25,000 baht.

- A Statutory Meeting is called after all shares to be paid for, have been subscribed. At least 25% of the value of each share must be paid up. The promoters are required to send to every subscriber a Notice of the Statutory Meeting together with a statutory report at least seven days before the date of the Statutory Meeting.