+66 84 021 9800

142 Sukhumvit Rd, Khlong Toei, Bangkok 10110, Thailand

Tag: thailand

Thai Limited Company Registration

CorporateImmigration SpecialistLeave a comment

Before establishing a company in Thailand, you must prepare the Memorandum of Association and call a statutory meeting. This will allow the company to define its objectives, capital, and shareholders. It is also important to note that some business activities have restrictions on foreign ownership.

A Thai Limited Company must have a minimum registered capital of 2 million baht. In addition, it must adhere to accounting and auditing procedures.

Company name reservation

A company name is a crucial part of the registration process, and choosing the right one can help you establish your brand identity and build trust with customers. It can also protect your intellectual property rights and prevent potential disputes with other companies.

In order to reserve a company name, you must submit an application with the Department of Business Development (DBD). The DBD will review the name and ensure it is unique and complies with their guidelines. It may take a few days for the department to reserve the name.

After the name is reserved, you must prepare a Memorandum of Association and Articles of Association (AOA). You will also need to deposit the capital required by the DBD. Once your documents are ready, you can open a corporate bank account and begin operating your business.

Memorandum of Association

A memorandum of association (MoA) is an official document that sets out a company’s objectives, authorized capital, shareholders, and other relevant details. It is an essential step in forming a limited company. The MoA is distinct from the Articles of Association, which outlines how a company is run.

We can help you draft a comprehensive and thorough MoA and complete all required paperwork for your business to be registered in Thailand. We can also assist you with obtaining any sector-specific licenses that your company may need to operate in the country. Contact us to schedule a free consultation, and we’ll walk you through the process of setting up your company in Thailand.

Shareholders

During the process of forming a Thai limited company, the initial promoters of the business must register themselves as shareholders. This ensures that their liability is limited to the amount of money they invested in the company. It also helps in ensuring compliance with accounting procedures.

It is recommended that at least three shareholders be registered for the company. These must be natural persons. Foreigners may hold up to 49% of the company’s shares. However, certain industries have restrictions or require special permissions for foreign ownership.

The company must prepare and submit financial statements every year. Failure to comply with these requirements can result in a Baht 50K fine. It must also issue share certificates to its shareholders and maintain a book of register.

Directors

Directors of a Thailand limited company are responsible for the management of the business. They are also liable to the extent of their shares. The most popular form of business in Thailand is the private limited company. This business structure is popular among foreign investors as it offers separation between ownership and management. However, the majority of the company shares must be held by a Thai citizen. Foreigners can also set up a BOI certified company if their activities fall within the scope of BOI promotion.

It is important to note that the registered office must be located in Thailand. The address must be registered and permission must be obtained from the property owner. The company must also submit financial statements and comply with tax regulations. It must also have an official stamp to sign documents.

Company registration

Company registration is one of the most important steps for foreign investors planning to set up a business in Thailand. However, it is a complicated process that requires careful preparation and consideration. It is best to have a service provider like Acclime handle the entire process for you to avoid any hassles.

Choosing the right name for the company is crucial. It must be unique and not resemble any other registered names in Thailand. In addition, the name must end with “Limited.” Name reservation can be done online and is usually approved within a few days.

The next step is preparing the Memorandum of Association and calling a Statutory Meeting. The MOA must outline the objectives, capital, shareholders, and directors of the company. It must also list any form of contracts entered into by the company.

Thai Will and Succession

PropertyImmigration SpecialistLeave a comment

A Thai Will is a legal document that expresses your decision as to who should inherit your wealth. Without a Will the law decides this and it is very possible that your property will end up with family members that you have not wished to give anything to.

A legal Will must be in writing dated at the time of making and signed by you (the testator) before two witnesses.LegalityA Thai will allows you to choose your legal heirs and outlines your wishes on how your estate should be distributed. Without a will the law will determine this and it could mean that part of your estate ends up with people you would not have wanted to receive anything.Under Thai inheritance law the surviving spouse qualifies as a statutory heir (section 1635 of the Civil and Commercial Code) and inherits a minimum of one-half of the deceased’s property (unless there is a prenuptial agreement). The remainder of the estate will be divided among the statutory heirs in class 1, 2, 3, 4, 5, or 6 which include children, parents, brothers and sisters by full blood, half-brothers and half-sisters, grandparents and aunts and uncles.A lawyer will prepare the application for probate or administration of an estate which involves sending legal notices to all parties involved in the case. The lawyer will also help with any documentation required such as a death certificate, proof of ID and a list of all assets owned in Thailand including real estate, shares, bank accounts, etc.ExecutionA Thai Will must be written in ink and signed by the testator and two witnesses. The testator must be at least 15 years old. A will made by a minor is rendered void. However, a testator can make an oral will when no witnesses are available.A well-drafted Thai Will minimises difficulties and expenses after your death. It is also an important document to help you decide how your assets will be allocated to family members.If you die without a will, it is known as dying intestate. In this case, your estate will be distributed according to Thailand law on inheritance. This could result in legal disputes between your family members.Moreover, the process of inheritance in Thailand can be time-consuming for heirs who live overseas. For example, it can take up to several months for an heir to get the final decision from a court in Thailand. In addition, inheritance taxes must be paid, which can add up to a significant amount.ProbateWhen a foreigner dies in Thailand and they own assets here their family will hire a Thai lawyer to initiate a probate proceeding. This process is intended to project the wishes of the deceased in accordance with Thai laws and ensure that their assets are properly allocated among their legal heirs in a timely manner.The first step of estate administration is to verify the deceased’s property assets, disburse any debts, and obtain a probate order from the court. In the event that there is no Will or the Will is invalid, the court will determine beneficiaries and allocate property according to the six classes of statutory heirs stipulated in Book VI of the Civil and Commercial Code.In order to avoid delays and unnecessary expenses it is advisable that all persons owning assets in Thailand draw up a Will, even those who are not concerned about passing on their property to others. A Will allows a person to control their estate in accordance with their wishes and also prevents potential quarrels between relatives.

Thai Retirement Visa

ImmigrationImmigration SpecialistLeave a comment

The Non-Immigrant O-A Visa, often known as the Thai Retirement Visa, is a long-term visa option for people who want to retire in Thailand. The following are the main specifics of the Thai Retirement Visa:

  1. Eligibility: You must satisfy the following requirements in order to be eligible for a Thai retirement visa:

a. Age: At least 50 years of age is required.

b. You must satisfy the financial requirements, which often involve keeping a certain amount of money in a Thai bank account or a mix of money and income.

  1. Application Methodology:

a. Application from Outside Thailand: You must submit your application to the Thai embassy or consulate in your country of residence if you are applying from outside Thailand. It is best to get in touch with the embassy or consulate directly to learn about the application process and necessary paperwork since the precise requirements could differ.

b. Applying inside Thailand: If you are already in Thailand on another sort of visa, you can submit an application for a retirement visa at an immigration office there. The procedure normally entails providing the necessary paperwork and filling out the application forms.

  1. documentation needed: The following are just a few examples of the documentation needed to apply for a Thai retirement visa:

a. a passport with at least six more months of validity.

b. filled out applications for visas.

c. passport-sized images.

d. a recent three-month-old medical certificate.

e. As evidence that you have the necessary funds or a combination of funds and income, you might provide a bank statement.

  1. The initial Thai retirement visa is often issued for a period of one year, with the option to renew it. If the applicant continues to meet the requirements and submits the necessary paperwork, the visa may be renewed each year after the first.
  2. Holders of retirement visas must declare their current address to the neighborhood immigration office every 90 days.
  3. Thai retirement visa holders are prohibited from working in Thailand. Any type of employment or commercial activity would call for a different visa or work permit.

The Thai Immigration Bureau or the Royal Thai Embassy or Consulate in your country can provide you with the most current and accurate information regarding the Thai Retirement Visa application process. It’s important to keep in mind that visa requirements and procedures can change.

Getting a Work Permit in Thailand

ImmigrationImmigration SpecialistLeave a comment

As a foreigner living and working in Thailand, you need a work permit to legally perform your job. You can get this document from the Ministry of Labour if you have a legitimate job in Thailand and meet some minimum requirements. The document can be renewed if it expires, but you need to apply for this extension with your visa.

A work permit can be issued for 1 year and can be extended as long as you continue to meet the required qualifications. The document can also be granted for a longer period of time in certain cases, such as for Representative offices and for companies with registered capital of over 30 million baht.

Getting a work permit in Thailand is not a simple process and requires professional help to ensure you have everything needed. At Sunbelt Asia, we provide assistance to our clients on all aspects of the application and paperwork.

The first step is to get a non-immigrant visa from your country of origin (if you’re coming from the US, then you need a B-1 visa). You should also bring the following documents with you when you go to the embassy or consulate: * Your resume and degree/license* A medical certificate not older than six months from a Thai hospital* 3 passport sized photos (4 x 6 cm)

Once your documents have been verified, you can file an application for a work permit with the Department of Employment at the Ministry of Labor. You will need to be present in person and sign the document in front of the Labor Department staff to get it approved.

You can only obtain a work permit when you have a valid visa and are in possession of a Thai taxpayer identification number (TIN). The TIN is used for all documentation, including work permits. You will also need it for obtaining a passport when you travel out of Thailand.

The application can take a few days to process. You will be given a notification slip with the date you can collect your work permit in Bangkok or Phuket. You will need to pick it up with your original passport in the presence of a Labor Department employee.

A Work Permit is required for all foreigners who want to work in Thailand and are not from a country where the government has agreed to exempt them. This is because of a law called the “Alien Employment Act” which prohibits unauthorized activities by foreigners.

There are a few exemptions to this requirement, but it’s always a good idea to check with the embassy in your home country.

You can also ask the company you’re working for to fill out a letter of work permit approval before you leave your country. This will allow you to get your work permit in Thailand without having to travel overseas to do so.

Once you have your work permit, it must be returned to the Ministry of Labour within seven days of your resignation from your job. If you don’t return the permit, you can face fines of up to 1,000 baht.

Property Title Transfer in Thailand

PropertyImmigration SpecialistLeave a comment

Buying property in Thailand is an exciting, once in a lifetime experience. It is a beautiful, exotic country with tropical beaches, ancient ruins, and opulent royal palaces and temples. Expats are always keen to buy their very own place in this enigmatic land of wonders.

There are several different types of Thai title deeds available to foreigners looking to purchase a piece of real estate in the country. These include the Or Chor 2 (Condo deed) and Sor Por Kor 4-01 (Agricultural deed).

Condominium titles are perhaps the most popular type of property to invest in because they offer complete ownership of the condo unit together with a small share of the common property. The document holder will be able to rent the unit, sell it or leave it to an heir as they please.

Sor Por Kor 4-01 is an agricultural title deed that is mainly used by farmers in rural areas of the country. It is not generally available to foreigners and it is a difficult process for foreigners to acquire this type of Thai title deed.

Chanote is the strongest form of land title deed in Thailand and it is a true document of full ownership. The land plots under a chanote have been accurately surveyed, GPS plotted according to a national survey grid and marked by unique numbered marker posts set in the ground.

NS3K is another form of land title deed that is issued without parcel points having been set by aerial survey. It is not as accurate as a chanote and may not have been inspected by the Department of Land in the past but it does indicate confirmed possession rights of the land.

Nor Sor Sam These are a less accurately surveyed form of land title deed that can be sold or leased unless the previous owner stipulates that it cannot be sold or leased for 5 or 10 years after the transfer of ownership. These are less expensive and easier to purchase than a chanote but they do not offer the same level of security or protection.

A title search is a very important part of any purchase and can help ensure that the seller has a clear legal claim to the property and is not under any liens or other restrictions. It can also identify if the seller has any leases or other properties which are associated with the property, as well as the type of documentation which has been issued.

The transferring of the title is the final step to completing the sale or purchase and is typically done at the local Land Office. This can be a quick and easy process, however it is important that all the correct documents are presented for this to happen smoothly.

Before going to the Land Office, it is always a good idea to check with your agent or lawyer about any potential problems that may arise during this process. They will know what documents are required and when they need to be presented. They will also have an understanding of the fees and taxes that are applicable. They should be able to guide you through the entire process.

Property Due Diligence in Thailand

PropertyImmigration SpecialistLeave a comment

When buying property in Thailand, it is important to do proper due diligence before purchasing a property. This is because it helps you avoid potential legal issues and financial risks. It also allows you to make a smart investment decision.

What is property due diligence?

Property due diligence is a process of checking the legitimacy of a property and ensuring that it meets your needs. It can help you avoid costly mistakes and a lot of inconvenience in the future.

Real estate in Thailand is a big investment and it requires a lot of effort from you as an investor. You need to be sure that you are getting the best deal for your money and that you are not wasting it on a wrong property.

There are a lot of different factors that you should consider when conducting your due diligence. The main one is that you should look into the history of the property. This can reveal a lot of information about the property and its current owners.

The next thing that you need to do is check the title deeds. This can help you identify the real owner of the property and it can tell you if there are any liens that need to be paid off.

This is an important step because you want to be sure that the person you are buying the property from actually owns it and that they do not have any liens against it. It is also a good idea to check the title deeds to make sure that they are in the correct form and are freehold.

Another thing that you need to do is to check if there are any usufructs and servitudes over the property that might prevent it from being developed or sold. This is very common in Thailand and it is something that you should not ignore.

If there are any of these things on the property that are not legal it will cause a lot of trouble in the future. It can even result in your having to sell the property or losing the money that you have spent on it.

You should also look into the zoning of the property. This is important because it will help you know whether the property is allowed to be built on the land or not. It will also help you know if the land is in an area where the government plans to expropriate it or not.

A good real estate agent can help you do the necessary research. It will not be cheap but it will save you a lot of time and hassle in the future.

Divorce in Thailand

FamilyImmigration SpecialistLeave a comment

Divorce in Thailand is a complicated legal process which can be both emotional and financially stressful. However, if you know what your options are and how to proceed in the best way possible, then you can get through the whole process without any major issues.

There are two types of divorces in Thailand – one is called “Contested Divorce” and is very complex and expensive while the other is called “Administrative Divorce”. The administrative form of divorce can be done at any local District Office (Khet or Amphur) and it’s much cheaper, quicker and easier to complete than a contested divorce.

A Contested Divorce is a court procedure where one of the parties goes to court and files a case against the other party. This is usually done when the parties cannot agree to end their marriage or if they have disagreements on child custody and property sharing.

In a contested divorce, the spouse who is filing must identify the grounds for divorce under Thai law, verify that the grounds are valid and represent themselves in court. This type of divorce can be costly and time-consuming, as it requires multiple court appearances.

Uncontested Divorce

The most common divorce in Thailand is the “uncontested” or “administrative” form of divorce, which can be done at any local District Office. It is the preferred option for most Thai couples as it averts further conflict between husband and wife and their respective families.

Once a couple has agreed to end their marriage, they must sign the divorce papers and have them witnessed by two witnesses. The documents are then filed at the Amphoe (registrar office) in the area where they got married.

If there are no disputes, the couple can complete their divorce in a day. The couple must show proof of their marital status such as a copy of the marriage certificate to the Thai lawyer at the registrar office.

The registrar office will then issue a certificate of divorce to both parties. This decree will need to be translated into English and legalized at the Ministry of Foreign Affairs in Thailand, if the person is not a Thai citizen.

A Thai divorce can be difficult, especially if you have been living in Thailand for a while. It is therefore important to have the advice of a lawyer who can guide you through the process.

When a couple gets divorced in Thailand, the assets and property that were owned before they married will still belong to the original owner. They will also be divided according to the Thai law and facts of the case.

Personal or Marital Assets

Under Thai law, personal assets are separate from marital assets and such contracts as gifting or loans are not considered part of the marriage property. During a divorce, any such contract can be voided and the money returned to the original owners.

It is advisable to have a prenuptial agreement and keep a registration of all your personal and marital assets in order to avoid any potential disputes during the divorce process. This will improve your legal position and protect you from the loss of your assets during a divorce.

Marriage Registration in Thailand

FamilyImmigration SpecialistLeave a comment

Marriage Registration in Thailand is the most important step for any couple wishing to get married in Thailand. It is a legal process and requires a lot of paperwork that can feel overwhelming for some people.

There are many different types of Thai marriages that can be performed. Some are solemnized through a ritual ceremony, while others may be registered in the courts. The ceremony can be either traditional or a modern one, and can take place in any location that the couple chooses to marry at.

When a foreigner wants to marry in Thailand, they must first visit their embassy and receive an affirmation that they are single and free to be married. They also need to bring proof that they have never been previously married and copies of divorce or death certificates if their previous spouse passed away.

They should then present their affirmation, translated affidavits and a certified copy of their passport to the appropriate office before they are allowed to marry in Thailand. They should also present a house registration certificate and identification card as evidence of their residence in Thailand.

The affidavits should be certified by an approved Foreign Ministry Translator to make sure that they are authentic. They must also have their signatures notarized before being submitted to the Registrar.

Once the affidavits are notarized and all necessary documents are provided, the marriage can be legally registered in the Ministry of Foreign Affairs. This will give them a legal marriage certificate in Thai language which they can use when traveling abroad.

Getting married in Thailand isn’t as hard as it might seem, but it does require a lot of documentation and a good knowledge of Thai law. It is recommended that foreigners seek professional help from a Thai lawyer to ensure that their marriage is properly registered and meets Thai legal requirements.

Prenuptial Agreements

Before a foreign couple gets married in Thailand, it is important to consider whether or not they would want to enter into a prenuptial agreement. These agreements are designed to prevent disputes that might arise between the couple.

In a prenuptial agreement, the couple agrees on how they would handle their assets in the event of a separation or divorce. These agreements are important to preventing any potential problems that might occur later on in life and can protect both the foreigner and Thai spouse.

A prenuptial agreement is a legally binding contract that states the rights of each party in the event that their relationship ends. This can help to ensure that their property is properly distributed amongst the parties and also that any spousal support that may be required can be agreed upon.

The prenuptial agreement must be signed before the marriage is registered in order for it to be effective. It is also essential to have these agreements notarized by the Thai Embassy before registering the wedding.

Getting married in Thailand is an exciting and fulfilling experience for those who are looking to tie the knot. It is also an ideal option for those who are interested in getting married in a beautiful and unique setting. This will help to make the occasion truly memorable and unforgettable for both the couple and their guests.

Advantages of a Prenuptial Agreement in Thailand

FamilyImmigration SpecialistLeave a comment

A Prenuptial Agreement in Thailand is a written contract made between two people prior to marriage. It details all of the property and assets that both parties own, as well as how those properties will be divided after a divorce.

In many cases, a prenuptial agreement is the best way to ensure that both spouses have equal rights to their own property during a marriage and in the event of a divorce. A prenuptial agreement is enforceable in Thailand, but it must be prepared by an experienced Thai family lawyer or solicitor who is familiar with both Thai and the country’s laws.

If you are a foreigner marrying in Thailand, a prenuptial agreement may be advisable to protect your assets from being split up with your Thai partner. It will also help you to determine which country’s law should apply to your matrimonial property regime in the event that a dispute arises about your assets abroad or in your home country.

The primary advantage of a prenuptial agreement is that it can prevent future disputes over property ownership in the event of a divorce or death. A prenuptial can provide for the disposition of property owned by both spouses, enumerating each person’s assets and dividing them up according to the provisions of section 1476 of the Civil and Commercial Code.

Another benefit of a prenuptial is that it can eliminate any potential conflicts over debts. This is especially true if one of the parties to the marriage has a large amount of debt or a negative credit history. A prenuptial can assign that debt to the appropriate spouse, making sure that neither party will have to take on that debt as their own.

A prenuptial agreement can also include a provision that allows one spouse to manage jointly owned assets. This is especially useful for couples of different nationalities who have a significant amount of assets in another jurisdiction.

Unlike some countries, a prenuptial agreement in Thailand must only deal with personal and marital property, which means that it cannot exclude the general statutory system of property between husband and wife (section 1465 of the Thai Civil Code). If a couple’s prenuptial agreement contains terms that are against public morals or good morals, these clauses will be void.

In the case of a contested divorce, a court in Thailand must determine whether or not each clause of a prenuptial is valid and enforced under Thai law. If they are not, the court will find that it is void and refuse to enforce the terms of the prenuptial.

It can be difficult to talk about money and property during a marriage in Thailand, especially when the marriage is taking place abroad or at the same time you are planning to relocate to a different country. Having a prenuptial in Thailand will make it easier to get to the point of agreeing on money and property matters, which can save you both stress and time during a divorce.