Obtain Information about Thai Companies
Updated on Friday 23rd September 2016
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If you are a foreign investor interested in doing business with a company in the Land of Smiles, it is important that you research and obtain the appropriate information about the Thai company you will be dealing with. Obtaining information about Thai companies is also crucial when you intend to establish joint ventures or partnerships in the country, or to know if it is worth it to pursue legal action after an issue has come up with a company in Thailand.
The Department of Business Development in Thailand
The Department of Business Development (DBD) in Thailand from within the Ministry of Commerce is a reliable source of information where you can obtain data on the history of a Thai company. The DBD is the principal regulatory authority when it comes to a company registration in Thailand, being the main government entity that local, as well as foreign investors doing business in the country have to deal with.
The DBD in Thailand is responsible for regulating and imposing laws such as:
• The Civil and Commercial Code (the legislation on partnerships and private limited companies);
• The Public Limited Companies Act;
• The Chambers of Commerce Act;
• The Commercial Registration Act;
• The Accounting Act;
• Other legislation. A Thailand lawyer can provide more detailed information on what this legislation consists of.
How to register a company in Thailand
In order to register a company of medium size with the DBD in Thailand, the following steps have to be taken:
• Search and reserve a company name online with the DBD in Thailand;
• Deposit capital with a bank;
• Get a corporate seal form a seal maker;
• Obtain approval for memorandum of association, apply to register the business as a legal organization and file company work regulations with the DBD in Thailand;
• Make payments for the memorandum of association and company registration with the DBD in Thailand;
• Register for VAT.
Our Thai lawyers can provide more data on the procedure of registering a company with the DBD in Thailand, as well as the costs and time involved in this process.
For further details on how to obtain information about Thai companies, we invite you to get in touch with our law firm in Thailand.