How to Start A Real Estate Business Company in Thailand?
RE/MAX Thailand will guide you all the way to success and will help you to establish your new Thai company.
Our legal department will help you during the registration process of your setting up and open new Thai company.
Regulation of Opening a Thai Company in Thailand:
The process of forming a Thai a limited-company in Thailand, we can help you and ensure that your business is operating in as little as 2-4 weeks. For Thailand company registration, Thailand work permit, and Thailand visas.
The basics of Thai limited-company registration in Thailand:
The most utilized type of legal entity in Thailand is the limited-company. A Thai limited-company is owned by a minimum of three shareholders and managed by at least one director. One of the biggest advantages of the Thai limited-company is that it is legally a stand-alone company under Thai law.
As for company registration in Thailand, it’s important to be aware that the at least 51 percent of a company’s shares must be held by Thai citizens. The remaining shares may be held by anyone. In spite of this, it is still possible for a foreigner to maintain controlling interest in a company by issuing two separate classes of shares: ordinary shares and preferred shares, this will provide a full control of the business by the foreigner that own it.
Shareholders with ordinary shares have more voting rights in the company. At least one director is chosen by the shareholders. Only the director(s) is authorized to sign anything on behalf of the Thai company, and individual shareholders are only liable to their percentage of shares.
Financially, when registering a Thai company, you must have at least two million THB of capital registered in order to be eligible for 1 work permit. However, this does not mean that you need to have this amount of money to start, it is the merely the limited liability of your Thai limited company.
There is an exception if the company is established only to hold property, in which only one million THB is necessary. There is an exception for US citizens that can have a business and open a new company and own 100% of the shares.
you will need to register your business as dealing with Real Estate Transaction. if your registration is less than 65% owned by Thai you may have a problem to deal with Land transaction as it is reserve only to Thai Nationality.
so we recommend that you will register your real estate business on a thai name only and change the ownership later on.
Start with Name Reservation of your new company setup
Naturally every business require a Name, therefore you must first provide the desired name for your new company along with two alternative names then submit these to Thailand’s Ministry of Commerce. The Minister will then verify that no similar company names have been reserved and that the name does not violate any ministerial rules. Note: you cannot use any RE/MAX Name or any trademarks in your company name.
This registration is very simple and only requires 2-4 days to be completed.
Thai company registration File a Memorandum of Association (MOA)
Once your company name has been reserved, all shareholders must sign a Memorandum of Association (MOA). The MOA is a document which provides the names and personal information (such as contact details) for all of the company’s shareholders, as well as the company’s address, registered capital, and intended scope of business activities.
Once all shareholders have signed the MOA, it may be submitted to the Ministry of Commerce along with all of the documents pertaining to the company’s registration in Thailand. The Ministry of Commerce is located within Bangkok, but if the company’s office is located outside of Bangkok province, these documents may be submitted the filing office of the province where the company is located.
Once this step of Thailand company registration is completed and processed, the Ministry of Commerce will then issue the company affidavit, certification, list of shareholders and company articles of association.
Tax and VAT registration of your Business Setup:
All documents associated with the registration of the company’s Tax ID Card and Vat Certificate must be submitted to the Central Filing Office of the Revenue Department.
Also, as part of the process of obtaining a VAT Certificate, you must obtain permission from the landowner of your company’s address if your company does not own the land outright.
Step 4: Open a Corporate Bank Account
Once the registration is completed, your company will probably want to open a corporate bank account. The company directors must be present. If any of the signatories for the bank account are foreigners, some banks will require each of the foreign signatories to submit a valid work permit prior to opening the account. We are recommending you to register to some of the bank services to make your REMAX business work much more easy This can be completed within a day.
The Steps above will take approx 2-3 weeks from the moment you start
Applying for Business Visa and Thai Work Permit
That will be the last Step of setting your company
In order to obtain a Thailand work permit, you must first have a Non-immigrant visa. (often called a Non-B Visa) The way to obtain this visa changes all the time please get an updated visa consulting.
For a Thai work permit you will need to submit all necessary documentation to the Department of Labor. If submitted correctly, an application can be processed in as little as 7 days.
Further, for each foreigner working within your Business, your company is required to have a registered capital of 2,000,000 THB, i.e. if you have two non-Thai working in your company, it is required to have a registered capital of at least 4,000,000 THB. However this does not mean that you need to have this amount of money to start, it is the limited liability of your Thai limited company.
Note: For each foreigner that work in the company you will need to hire 4 Thai staff
Our Team will be happy to assist you to start your Real Estate company and/or with your visa
Note: Laws and Regulation are changing frequently so it is always recommended to check the latest rules and regulation You can find more information in: Ministry of Commerce Revenue Department Immigration Bureau