A
limited company can be formed by seven promoters, one of who
can reserve the company’s name. The company is required
to file a Memorandum of Association with the Department of
Business Development and subsequently subscribe the shares.
Once the shares have been fully subscribed, a statutory meeting
is then called to approve the Articles of Association, to
elect the Board of Directors and to appoint an auditor. The
minimum of 25 percent of the par value of each subscribed
share must also be paid.
Within three months after the date of
the Statutory Meeting, the directors must apply for the company
registration. The Limited Company is then ultimately established
after filing a series of corporate documents with the Department.
An ordinary meeting of shareholders must be held within six
months after the registration of the company and subsequently
at least once in every 12 months. The incorporation process
should normally takes around four to five weeks.
The Memorandum registration fee is 50
Baht per Baht 100,000 of registered capital, but not less
than Baht 500 and not exceeding Baht 25,000. As for Company
Registration fees, 500 baht per 100,000 baht is applied, but
not less than Baht 5,000 and not exceeding Baht 250,000.
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