Evidence Required During Company Incorporation
Keywords: Mazars, Thailand, Legal, DBD
25 January 2013
The DBD has announced Order No. 205/2555 to define new requirements effective from 2 January 2013:
Old Condition | New Condition |
1. Shareholding structure Foreign shareholders hold between 40 % and 50% of the registered capital. | 1. Shareholding structure Any foreign shareholders. |
2. Authorised Director Foreign shareholders hold less than 40% of the registered share capital but there is a foreign authorised director. | 2. Authorised Director 100% Thai owned but foreign authorised director. |
3. Financial evidence required to be presented by every Thai shareholder: Certificate issued by a commercial bank; Bank statement; or Copy of bank passbook. | 3. Financial evidence required to be presented by every Thai shareholder: Certificate issued by a commercial bank.
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We note that the purpose of this amendment is to review whether the Thai shareholders’ have sufficient funds to invest in the newly incorporated company.
Please read Order No. 205/2555 for more information.