Promoter for register a company Thailand
Company promoters are responsible for company registration with the Ministry of Commerce (MOC). The promoters must be an individual (not juristic persons). They must be available to sign documentation during the registration process. There must be a minimum of 3 promoters for a private limited company and at least 15 promoters for a public limited company.
The promoters of a private limited company must be 12 years of age or older; for a public limited company, the promoter must be 20 years of age or older.
Each promoter of a private limited company is required to be among the company’s initial shareholders immediately after the company’s registration and is required to hold a minimum of one share upon the company’s registration. They are generally free to transfer those shares to existing shareholders or third parties, thereafter, if they wish. It is not required for the individuals serving as promoters to reside in Thailand.
The promoters of a public limited company must also be among the company’s initial shareholders immediately after company’s registration. All promoters must subscribe for shares, which must be paid up in an aggregate amount equal to not less than five percent of the registered capital. Said shares may not be transferred before the expiration of 2 years from the date of the company’s registration unless specifically approved at a meeting of shareholders. Nevertheless, it is required that one-half of the individuals serving as promoters have their domicile in the Kingdom of Thailand.
Promoters’ potential legal liability is generally limited to the par value of the shares they will hold after registration is completed. The promoters are also responsible for paying expense associated with the company’s registration After registration, however, the company may choose to reimburse the promoters for those expenses.
Remark:
Our main page for company registration or setting up company in Thailand click here.