In order to promote and facilitate the Thailand’s ease of doing business as well as to improve Thailand’s ranking in the next evaluation of the World Bank, including to boost the country’s competitiveness and to increase the opportunity of Thailand to become an effective investment hub in Southeast Asia, the Ministry of Commerce has recently issued a regulation to adjust the governmental fee rates in line with the World Bank recommendations.
Starting with 21st of April 2018, the registration fees for limited companies and partnerships are collected at flat rates, as opposed to the previous official fee rates which were calculated based on the registered capital or the numbers of changes.
The registration fee for a partnership business is 1,000 THB, reduced from 1,000-5,000 THB, and for a limited company is 5,000 THB, reduced from 5,000-25,000 THB.
A 500 THB registration fee is applying to:
- Registration of the Memorandum of Association or amendment of Memorandum of Association to increase capital before incorporation
- Registration of capital increase
- Registration of change of per value in case of a partnership
- Registration of capital reduction of a partnership
- Registration of new directors
- Registration of dissolution/ liquidation of a partnership or limited company
If the registration is made through the DBD’s electronic registration system (E-Registration), an additional reduction of 30% will apply. However, the reduction shall be effective until 31st of December 2020 and is not applying to the registration of partnership and limited companies in special ad hoc development zones.
Furthermore, the fee for transferring data from the Department of Business Development computer network to an applicant’s computer will be reduced from 60 THB to 30 THB per applicant.
For the applications submitted prior to the date on which this Ministerial Regulation comes into force and which are still under consideration, the registration fees must be paid accordingly to the new flat rates.
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This article is written by lawyers from the Antares Group and edited by Rishika Pundrik of Asia Law Network.
This legal update was originally published on the Antares website.
This article does not constitute legal advice or a legal opinion on any matter discussed and, accordingly, it should not be relied upon. It should not be regarded as a comprehensive statement of the law and practice in this area. If you require any advice or information, please speak to practicing lawyer in your jurisdiction. No individual who is a member, partner, shareholder or consultant of, in or to any constituent part of Interstellar Group Pte. Ltd. accepts or assumes responsibility, or has any liability, to any person in respect of this article.