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Open a Partnership in Thailand

Open a Partnership in Thailand

Are you a foreign investor looking to open a partnership in Thailand? Here is what you should know. In this country, there are three types of partnerships which are recognized:

1.    The Unregistered Ordinary Partnership: it is a partnership where all the partners have joint and entire liability for all the obligations;
2.    The Registered Ordinary Partnership: if registered, the partnership becomes a legal entity. This legal entity is separate from the individual partners;
3.    The Limited Partnership: the liability of the distinct partner is limited to the amount of capital invested into the partnership. This kind of partnership has to be also registered.

1.    The unregistered ordinary partnership in Thailand

Joint liability means that every partner is liable for all the partners’ wrong actions. Entire liability translates to all partners being liable with their personal assets for debts and other obligations the partnership might be subject to, if the partnership’s assets are insufficient to fulfill the claims of the creditors. This entails that personal assets could be liquidated to pay the debts of the business.
When you open a partnership in Thailand as unregistered ordinary partnership, it is a non-juristic entity treated as an individual for tax purposes. 

2.    The registered ordinary partnership in Thailand

The registered partnerships are registered with the Commercial Registrar, therefore constituting juristic persons, being taxed as corporate entities. The person responsible for this type of company registration in Thailand is the appointed Managing Director of the Partnership. The registration has to be made in the province where the head office of the partnership is located.   

The fee for opening such a partnership in Thailand is THB 1,000 (approximately USD 28) for every THB 100,000 (around USD 2,820) of registered capital, with a minimum THB 1,000 fee and a maximum THB 5,000 (around USD 141) fee.

In case you would like to set up another type of company in Thailand, for example a limited liability company, our team can help you.

3.    The limited partnership in Thailand 

A limited partnership must have one or more limited partners whose liability is limited to the amount of capital invested into the partnership.
Because a limited partnership is a juristic person, it must be registered with the Commercial Registrar. The person who is responsible for the registration is the appointed Managing Partner. The registration for opening this type of partnership in Thailand has to be made in the province where the head office of the partnership is located. Our Thai company formation specialists can give you more information on this matter.

The fees for registering a limited partnership in Thailand are the same as the ones for a registered ordinary partnership.

In regards to taxation, limited partnerships in Thailand are taxed as corporate entities.

Opening a partnership in Thailand will present a wide range of potential and opportunities, however, the founders will also need to observe the current tax and reporting requirements. The accounting for a partnership is lighter in comparison to the principles set out for corporations, however, for interested investors, our accountants in Thailand offer personalized assistance and advice.

If you need to know more, please contact our Thailand company formation professionals. They can help you with a wide range of corporate matters, from setting up companies to opening bank accounts in Thailand.