Registering a Company in Phuket Thailand
Registering a company in Phuket Thailand is not difficult. It is free and the process takes only a day. The process starts with the company name reservation, which takes just a few minutes to process. The company name will then be registered at the Department of Business Development. You can even register the company under your own name, as long as you have the Panwa address.
Company Registration in Phuket
The Andaman Sea island of Phuket is home to some of the most beautiful beaches in Thailand. Its western shore is a popular destination for luxury seaside resorts, spas, and restaurants. The island's capital, Phuket City, has an old town center and many restaurants and nightclubs.
To register a limited company in Phuket, you need to apply with the DBD's Phuket representative office. The process can take from a few days to a few weeks, depending on the documents that you submit. In addition, foreign investors will need to propose three alternative names for their company. Once approved, these names will remain in effect for 30 days.
Once you've decided on a name, the next step is registering the company. In Thailand, you must display your business registration certificate in your office. If you lose the certificate, you must replace it within thirty days. Moreover, if you wish to make any changes to your company, you must report this information to the Business Registration Office within 30 days.
Thailand Board of Investment
When registering a company in Phuket Thailand, it is important to follow the rules and regulations of the Board of Investment (BOI) to avoid any unnecessary delays. The BOI promotes companies that are important and beneficial to the country. These activities include those that use agriculture as a raw material or that generate exports.
The Thailand Board of Investment is an agency of the government that assists foreign investors in setting up businesses in Thailand. They help foreign businesses grow and prosper by providing tax incentives and special privileges. They also support businesses wishing to expand their business to other Asian markets. In addition, they are dedicated to encouraging new projects in Thailand.
Once a company has received approval from BOI, they need to submit all required documents within a certain deadline. Failure to submit the documents within the deadline may result in the promotion being withdrawn. If this happens, the applicant should follow up with the BOI by submitting an explanatory letter. The BOI will extend the deadline for submission if necessary. However, it cannot be done more than three times.
Thai Work Permits For Foreigners
Before starting a business in Thailand, it is vital for a foreigner to obtain a work permit. Without a work permit, a foreigner is not allowed to work for a Thai company or volunteer for a Thai company. A work permit is mandatory and costs a minimum of 5000 Baht per month. This amount is quite large, especially for a small business. To avoid spending a lot of money on work permits, foreigners register their businesses under a Thai partner.
The process of applying for a Thai Work Permit requires certain documents from both the foreigner and the Thai employer. These documents must be legalized and translated into Thai before being submitted to the Ministry of Labor. Additionally, the employer's documents must be stamped with the company seal on each page and signed by the Managing Director.