The following steps must be followed to set up a private limited company:

1. Company Name Reservation

The first step in setting up is to reserve a company name at the Ministry of Commerce. Once the company name is prepared, a lawyer is appointed to apply for the approval of the company name at the Registry of the Ministry of Commerce of the government. (It can be registered in Thai, Chinese and English***) If the same name already exists, it must be changed until it is determined that it has not been registered before, and the team will reserve your company's name for up to 30 days, during which time no one else can apply for the same name. Extensions may be granted if necessary.

2. Promoters

At least three natural persons are required to register the company's Memorandum of Association as promoters, and there are two important documents that must be registered with the Department of Thailand - the "Memorandum and Articles of Association" and the "Memorandum of Association. ".

A Memorandum of Association and Articles of Association are required for all companies in Hong Kong

The Memorandum of Association of a company must contain the following information:

- Name of the company

- Province in which the company is established

- Scope of business

- Registered capital (at least 3 shares with a nominal value of at least 5 baht each)

- Name, address, occupation and signature of the promoters and the number of shares to be subscribed by each of them

- A statement regarding the limited liability of the shareholders and directors

The articles of incorporation require the payment of a registration fee, which is based on the sum of the registered capital. It is usually between 500 and 25,000 baht

3.? Subscription of Shares

In the next step, the potential shareholders subscribe for their respective shares, and each promoter must also subscribe for at least one share (however, after the company is incorporated, it is possible to transfer its shares to the rest of the shareholders or to any other person as long as there are at least three other shareholders in the company

). Once all the shares have been subscribed, the promoters shall call a statutory meeting without delay.

4.? Statutory meeting

At the statutory meeting, the promoter's fees or remuneration shall be approved, the type of shares (ordinary vs. preference) shall be determined, the articles of association shall be adopted, and the directors (which may be more than one) and auditors (which may be more than one) of the company shall be appointed.

5.? Payment of Share Capital

After the statutory meeting, the promoters shall hand over the business to the directors, who shall call for payment of their respective shares from the prospective shareholders (including the promoters). At least 25% of each share shall be paid in cash.

6.? Incorporation of the company

Within three months after the statutory meeting, the director shall register the incorporation of the company with the Ministry of Commerce and confirm the existence of the share capital (at least 25%). Once the registered capital exceeds 5 million baht (note: approximately 1 million yuan), the directors must certify that the funds are in their private yin bank account.