Opening a manufacturing unit in Thailand can be a simple thing if you follow all the instructions carefully. As a beginner or foreign investor, you can take help from experts in the area to do company registration in Thailand. In fact, it is quite easier to start a manufacturing company as compared to a domestic business in Thailand.
The first most thing a foreigner needs to set up a manufacturing company in Thailand is land. As a foreigner, you can either take land on lease or think of buying it. The great news is that you can also buy an already built factory in Thailand. However, it is important to mention that for a company with complete foreign ownership, it may be difficult to get landholding. However, the process of getting freehold land often gets easier when the company is promoted and maintained by the Board of Investment. Another method of getting land for your manufacturing unit is by setting up a company in public industrial estates. Note that these estates are developed by the Industrial Estate Authority of Thailand that is a part of the Ministry of Industry.
Easy steps to set up a manufacturing company in Thailand
Here we have listed a few simple steps to set up a manufacturing company in Thailand:
Step 1: Reservation of company name
First of all, you have to choose a unique name for your manufacturing company in Thailand. It is important to run a detailed check that no other organization holds the same name. Also, as per the rules and regulations set by the Thai government, few words are prohibited from being a part of the company name. You can take help from professionals to reserve the company name for your foreigner owned manufacturing unit.
Step 2: Filing memorandum of association
As soon as the name of the company is approved, the founders need to file the memorandum of association. The documents must be processed at the Commercial Registration Department or Business Development Office.
Step 3: Organizing statutory meeting
Once you are done with the above two steps, the next task is to organize a statutory meeting where bylaws and the articles of the corporation can be approved and discussed. Note that business owners also need to prepare a share structure before organizing this meeting.
Step 4: Company and tax registration
Within three months of the statutory meeting, you may need to submit a company registration application. This application is prepared and submitted by directors. The next task is collecting tax ID card as well as the tax number from the revenue department. This is necessary for all the businesses that are liable for income tax and must be done within 60 days of beginning the company operations.
The best thing about manufacturing company registration in Thailand is that process is pretty simple. The Thai government has opened the barriers for foreign investment and you can enjoy the benefits of improved regulations now. Make sure you target the most potential market in the country with your innovative niche to make profits in the long run.
The first most thing a foreigner needs to set up a manufacturing company in Thailand is land. As a foreigner, you can either take land on lease or think of buying it. The great news is that you can also buy an already built factory in Thailand. However, it is important to mention that for a company with complete foreign ownership, it may be difficult to get landholding. However, the process of getting freehold land often gets easier when the company is promoted and maintained by the Board of Investment. Another method of getting land for your manufacturing unit is by setting up a company in public industrial estates. Note that these estates are developed by the Industrial Estate Authority of Thailand that is a part of the Ministry of Industry.
Easy steps to set up a manufacturing company in Thailand
Here we have listed a few simple steps to set up a manufacturing company in Thailand:
Step 1: Reservation of company name
First of all, you have to choose a unique name for your manufacturing company in Thailand. It is important to run a detailed check that no other organization holds the same name. Also, as per the rules and regulations set by the Thai government, few words are prohibited from being a part of the company name. You can take help from professionals to reserve the company name for your foreigner owned manufacturing unit.
Step 2: Filing memorandum of association
As soon as the name of the company is approved, the founders need to file the memorandum of association. The documents must be processed at the Commercial Registration Department or Business Development Office.
Step 3: Organizing statutory meeting
Once you are done with the above two steps, the next task is to organize a statutory meeting where bylaws and the articles of the corporation can be approved and discussed. Note that business owners also need to prepare a share structure before organizing this meeting.
Step 4: Company and tax registration
Within three months of the statutory meeting, you may need to submit a company registration application. This application is prepared and submitted by directors. The next task is collecting tax ID card as well as the tax number from the revenue department. This is necessary for all the businesses that are liable for income tax and must be done within 60 days of beginning the company operations.
The best thing about manufacturing company registration in Thailand is that process is pretty simple. The Thai government has opened the barriers for foreign investment and you can enjoy the benefits of improved regulations now. Make sure you target the most potential market in the country with your innovative niche to make profits in the long run.
