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Three basic forms of corporate structure are recognized in
Thailand: sole proprietorship, partnership and a limited corporation.
In addition, foreigners can register a company as a branch
office, representative office, regional office or joint venture.
Americans should seek the advice of legal and/or tax counsel
to determine the most suitable type of business organization.
Initial discussions with a lawyer or tax consultant can be
useful not only for information regarding business registration,
but also because they can offer advice on special licenses
or registrations that might be necessary for a particular
product or industry. For example, restrictions exist on a
variety of imports and export items such as some agricultural
products, pharmaceuticals, and cosmetics. Special licenses
may be required from the appropriate Thai Government ministry
before trading in these products can be undertaken.
While other forms of business entities are recognized in
Thailand, a private limited company is the most commonly used
vehicle for conducting business by foreigners. Application
for registration of the company must be made to the Commercial
Registration Department of the Ministry of Commerce or relevant
Provincial Registry.
For a straight-forward corporate business registration, international
firms can prepare the necessary documentation and register
the new business with the Ministry of Commerce for between
US$1,200 to $2,500, excluding filing fees and some other charges.
Filing and consultants fees depend on the amount of the company's
registered capital. The process usually takes three to five
weeks.
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