Tips For Company Registration People who want to start new business need to follow some of legal steps. One of the most important legal procedures that a person needs to follow before opening his company is registration. A company registration is necessary for all types of business. Registering a company is a complicated task and a person needs to take the assistance of the reputed legal firm for doing all the formalities in a small time. One should check the background of the legal practitioner so that he does not have to face any inconvenience later. To get the assistance of an experienced legal practitioner one can contact a firm that undertakes the work of company registration.
To register a company one needs to know some basic things. One should have a bank account package that provides all the documents needed by a Company for opening and account with the Banker. The documents are subjected to the 100-point test of the bank. A person who wants to his company should have a copy of the Form 201. The copy should come along with ASIC. One needs to submit the consent as sectary and director. To open a firm one requires having register of Shareholders, Register of Secretaries and Register of Shareholders.
There are several other things that a person requires for registering a company. He needs to submit of the Registers along with formal templates. One who wants to register a company should have the minutes of Director meetings. They should also attach formal templates for the next meetings. One should also have the share applications along with the templates, which can later be used for further application. One should have certificate of share, duplicate receipt for acknowledgement and some formal templates. The Constitution of the Company should also be submitted in English so that one can understand them easily.
The professional of the registration firms help people to prepare all these documents. They also give CD for these documents. The reputed firms provide some additional services for company registration. They prepare all the documents by the expert lawyers and present them in a ring binder that is user friendly. The ring binder helps the company to keep the record of their later works. In many cases, the company has provided ACN within an hour. The company does not charge any extra fees for delivering these documents to the clients. A person needs to wait for maximum 24 hours for receiving the complete documents.
One can search the website of the authentic firms and see if they have facility to register a company online. The reputed firms provide legal support to their clients even after the incorporation is completed. They are always available for answering the queries. These professionals are careful about the satisfaction of their clients and them on their request. Only the authentic firms provide lifetime warranty for their services. They keep their client updated about the legal procedures and changes that occurs with time. A person who is searching for a legal practitioner for registering his company can visit exelco.com.
However, the most common form of business units in Thailand is private limited companies. In general, the limited companies in Thailand are similar to the Western Corporations. Discussed in detail in this article is regarding the procedures involved in the different types of companies in Thailand.
For the registration of a private limited company in Thailand, there must be at least a minimum of seven promoters. In the case of public limited companies, they must have a minimum of 100 shareholders, and no single entity must hold more than 10% of the stock, and 50% of the stock must be possessed by small shareholders.
A company incorporated in Thailand has option to apply in order to get their securities listed in the Securities Exchange, as either 'Authorized' or 'Registered', under the Securities Exchange of Thailand Act of 1975. Let it be a private limited company or a public limited company, in order to form a limited company, it includes several important steps.
First and foremost step in the process of the Thai company registration is the reservation of the desired company name with the DBD (Department of Business Development), Ministry of Commerce. On the approval of the name, the registration becomes valid for a period of up to 30 days.
However, prior to the registration of the company, it must be decided who will be the promoters and shareholders of the company. Registration processes also include organization of statutory meeting, during which such matters as official address, company objectives, and the amount of share capital to be registered, are discussed.
The next step is the filing of a Memorandum of Association (MOA), which must be inclusive of the objectives of the company, the company name that has been approved, company's authorized capital, the desired location of the company, and the directors' extent of liability. In addition, the Memorandum of Association must contain the name, nationality, occupation, age, and address of at least seven shareholders, of which at least one must be Thai. All of these shareholders must be natural persons, and they actually sign the original application form.
Further, it is necessary that all of them should at least subscribe to a minimum one share of the company each. As a next step, develop an attractive logo as well as a company stamp with the logo. With regard to the registered capital, it is important that there must be proper amount of money in your bank account. Also, update your bank account.
Another step with regard to the registration of the limited companies in Thailand is the submission of the Articles of Association, which contains company details pertaining to the types of shares, structure and distribution of shares, voting rights, dividend information, directors, auditors, quorum, and all other important characteristics and regulations that are related to the company.
Once the Article of Association is submitted, the company's registration process is completed. Later, the Certificate of Registration, along with supporting documents, is issued to the company. On the receipt of the Certificate of Registration, obtain your company tax identity card and number from the Revenue Department. After this, approach the bank with company tax ID card and other relevant documents to open a bank account. Then, seek the assistance of an expert accountant for further company proceedings. Later, apply for VAT (Value Added Tax) with the Revenue Department.
Further, on registration of the company, it is important that company's accounting procedures must comply with the Accounts Act, the Civil and Commercial code, and the Revenue Code. A balance sheet must also be prepared yearly and filed with the Department of Revenue and Commercial Registration.
However, the procedures involved in the process of company registration in the Kingdom of Thailand are quite a daunting experience because of its complicated laws, regulations, and language. Hence, it is recommended to seek the assistance of a specialist consultancy firm or an expert as well as licensed Thai lawyer for company registration purposes.
They help you carry out a range of activities with regard to the registration of company, including, selection of appropriate company name, financial consulting, legal consulting, drafting of company by-laws and business objectives, developing shareholder structure, coordinating Thai shareholders, preparation as well as filing of the Memorandum of Association, registering Corporate Tax and VAT, creating company logos and seals, and setting up of bank accounts.
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Wolfgang Jaegel has sinced written about articles on various topics from Health, Family Travel and Hybrid Cars. For nearly 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on