Shelf Company in Thailand
A shelf company in Thailand, or a ready-made company is a business that is already incorporated as per the standard procedure and it is available for purchase. The main advantage of this type of company is the fact that the investor can start his business immediately after the purchase. Thus, he no longer has to go through the company registration procedure in Thailand. Investors who do wish to know more about this procedure can contact the Department of Business Development for information about commercial registration.
Table of Contents:1. Alternative Solution for Business Seekers in Thailand. 2. Changes that Shelf Company Buyers can make. 3. Requirement in buying a Shelf Company in Thailand. 4. Requisites for owning a Shelf Company in Thailand.
1. Alternative Solution for Business Seekers in Thailand
In case you want to create a company immediately or you don’t have a Thai share holder to complete the law’s requirement do not worry because you can consider this method of buying one of these off-the-shelf companies (or shelf companies as they are more commonly termed) quickly and easily. Do you even know what does a shelf company in Thailand stands for? It is basically a dormant company mostly set up by individuals who want to own a company in Thailand, but are failing to cater to the requirements for the time being; say suppose not having Thai shareholder.
The process involved in buying a Thailand shelf company is simple. Therefore, it doesn’t have a time-consuming process. Upon incorporation of the dormant or shelf company, the buyer will need to perform a few steps only after purchasing or transferring the ownership. However, our Thai lawyers can assist in the stages of purchase.
2. Changes that Shelf Company Buyers can make:
- Changing the company’s name
- Setting out for new business objectives
- Establishing a new business address
- Appointing new directors
3. Requirement in buying a Shelf Company in Thailand.
The only requirement for a buyer to purchase a shelf company was for the provider to transfer the shelf company’s shares to the buyer, and arrange the resignation of the directors of the original shelf company, who would be replaced by the new directors (the purchaser or their nominated agent/s). Sometimes, the shelf company name would also be changed by the buyer.
4. Requisites for owning a Shelf Company in Thailand:
Once the shelf company is transferred to its new director, the investor should register for VAT and social security. This company has the right to perform similar activities as any other company has. The directors of the Thai shelf company are eligible to perform many activities even though they are foreign nationals without having a work permit. They can;
• attending a technical or some special seminars
• convening meeting of the Board of Directors
• negotiating a business matter
• participating in any official meeting
Here at Siam Attorney we offer the best and the most effective solution and advise for you on this matter. Please contact us for our packages for Shelf company: