Changes to the company name or the number and the identities of the shareholders can be needed in order for a company in Thailand to continue its business activities. These modifications can be useful for creating a new business identity as well as for entering a new evolution phase.
Our Thai company formation agents can help you change the name of the business, to operate changes to the share capital, introduce new shareholders or remove existing ones as well as changing the registered address of the company. All of these changes can be performed by observing the regulations set forth by the Department of Business Development and working with our team will mean that the steps will be duly followed as needed in order to allow for a quick change in the company details. By working with our team, you can focus on the business activities while one of our agents handles the changes.
Table of Contents
How can you change the company name in Thailand?
A new company name can reflect a new owner or it can mark the rebranding of a legal entity. Regardless of the reasons that justify the companyname change, this is a modification that needs to be brought to the attention of the relevant Thai authorities.
The new company name must be checked and, if available, reserved. This is the same process that was initially followed in order to open a company in Thailand and it is mandatory that the new name complies with the restrictions and the conditions for originality. The name change must be brought before the company shareholders in a special meeting and after this step, the modification will be applied for with the Department of Business Development (DBD). A special application form together with the needed documents (plus proof of shareholder notification) is to be submitted with the application. In most cases, the name is changed within approximately two weeks from the shareholder’s meeting.
The name change will be notified both to the Department of Business Development and the revenue Department because the name of the company will influence the VAT registration. The document that certifies the company’s VAT registration will be amended after this change. The applicant will need to submit the amendment form, the original VAT certification as well as ID copies and the updated company documents received from the DBD.
How can you change the company’s address in Thailand?
Our team of Thailand company formation agents can also help you change the address of the company. This is also a change that is to be notified to the Department of Business Development and also to the Revenue Department because the address used for tax purposes will also change. The change requirements will differ according to the location of the new business headquarters. When the company relocated to the same province, the change is not recorded in the newspaper, the address is simply updated via a request submitted with the authorities. When the new address is located in another province in the country, the change will be advertised and the process will take longer. When submitting the application request, the company owners will need to bring forward proof that the new address was publicly advertised and that the shareholders have been notified of the change. When changing the company address, the bank will need to be notified of these changes.
How can you change the shareholder structure in Thailand?
When changing the shareholder structure for a Thai company it is important to notify the existing shareholders within a reasonable amount of time. A special application for the change of the shareholder ration is submitted to the Thailand Board of Investment when this change takes place within a company where the foreign investor percentage will change. The notification will include information on the major shareholders (those who hold more or 10% of the shares), their nationality as well as the promotion certificate (issued by the Board of Investment) and the activity of the company. a letter of consent from all of the Thai shareholders that certifies the approval for the shareholder ratio change is also included with the submission. One of our agents who specialize in company registration in Thailand can give you more information about the process involved in changing the shareholder structure.
Operating the needed changes to the company particulars in Thailand is a process during which investors may need specialized help for the purpose of preparing all of the needed documentation and registering the change with all of the Thai authorities. Investors can contact our Thailand company formation agents and submit a request for any needed company changes.
Updating the company’s particulars is essential for compliance with the business management requirements. Part of the mandatory requirements for Thai businesses are also those related to tax payments and the adequate keeping of financial documents. Our team of accountants in Thailand assists businesses with bookkeeping services, annual financial statements preparing, tax payments, audit services and more.