Limited Partnership & Company Limited, How is different?
COMPARISON BETWEEN COMPANY LIMITED AND LIMITED PARTNERSHIP
Points of Comparison |
Company Limited |
Limited Partnership |
| Part A. Legal process | ||
| a.1 preparing Shareholders’ meeting and step of AGM | Yes | No |
| a.2 Approval of Financial Statements | By AGM–Resolution | Certified by Managing Partner |
| a.3 Obligation | Limited on registered capital (which remains) | 1. For managing partner unlimited 2. For regular partner as the number of shares held |
| a.4 Appointed Management | Anyone | From unlimited partner |
| a.5 Able to be transformed | No | Can be transformed to Co., Ltd. |
| Part B. Presentation | Most common form of business structure; more formal and reliance | — |
| Part C. Registration | ||
| c.1 Requirement by Law | Need to have 3 promoters, 3 shareholders (at least 1 Thai for 51% shares) and 2 witnesses; | At least 2 persons can form a partnership (1 must be the Managing Partner) |
| c.2 Timeline | 5 business days | 5 business days |
| c.3 Government fee | 6,500 per 1 M Baht capital | 1,350 per 1 M Baht capital |
| Part D. Fee, scope and required documents | ||
| d.1 Our fees | 15,000 Baht | 15,000 Baht |
| d.2 Scope of services | Refer to Attachment A | Refer to Attachment B |
| d.3 Required documents | Refer to Attachment C | Refer to Attachment D |
Attachment A
Scope of Limited Company registration
1.Reservation the name of the company take time around 2-3 days.
2.Company registration with the Department business of Development take time only 1 day.
3.Request for Tax ID Card take time only 1 day.
4.VAT Registration will be done the same day with request Tax ID Card.
Attachment B
Scope of Limited partnership registration
1.Reservation the name of the company take time around 2-3 days.
2.Company registration with the Department business of Development take time only 1 day.
3.Request for Tax ID Card take time only 1 day.
4.VAT Registration will be done the same day with request Tax ID Card.
Attachment C
Attachment D
