How can foreigners go for Mergers & Acquisitions in Thailand?

 

Mergers and Acquisitions in Thailand for Foreigners can be a great way to expand existing business to the Thai market. Using this option, foreign investors gain the possibility to acquire shares of Thai companies and work collaboratively toward a common goal mutually decided. The process is very open for Thai investors but holds some challenges for foreign investors.

The reasons that make the process cumbersome for foreign investors are the restrictions of the Foreign Business Act. However, there are possibilities of busting these challenges and proceeding in the process. But before that, you should understand the restrictions on foreign investors for M&A in Thailand.

Restrictions on Mergers and Acquisitions in Thailand for Foreigners

Foreign investors expecting cross-border M&A agreements in Thailand may face significant difficulties due to Thailand’s law restrictions on foreign ownership. These restrictions may affect the M&A structure chosen as well as a foreign investor’s degree of influence over a target company.

The primary law governing foreign ownership of firms in Thailand is the Foreign Business Act of 1999. Companies registered overseas or domestically with 50% or more of the shares held by non-Thais are considered foreign under the Foreign Business Act of Thailand. The Foreign Business Act contains three categories that restrict the kind of businesses that foreign corporations may do. 

This means that without a foreign business license or any conditional exemption in accordance with the provisions of the act, ministerial regulations, investment promotion laws, industrial estate laws, or treaties between Thailand and certain countries, foreign investment in companies operating a restricted business is limited to less than 50% of the shares.

Furthermore, foreign ownership is not possible for various types of businesses and activities. This is because special Thai legislation reserves these business structures for Thai citizens. For example, the Land Transportation Act of 1979, after amendment states that only limited companies with at least 51% Thai-owned shares may operate in the land transportation business. In addition, the Land Code Act of 1954 forbids foreign nationals from owning land in Thailand unless specifically approved by legislation governing industrial estates or investment promotion.

Key Takeaway with Solutions

The major reason that makes the M&A structure formation challenging for foreign investors is the restrictions of the Thai Foreign Business Act. However, for this single challenge, there are various solutions as well. Generally, these solutions relate to the methods by which foreigners can register a Thai business in Thailand and proceed to register the M&A structure. Some of these methods are as follows:

• Registration of Limited Companies with 51% Thai Shareholding
• Obtain Board of Investment Thailand Promotions and Certification
• Receive Industrial Estate Authority of Thailand Privileges

Apart from these, there are certain other processes to achieve the eligibility to form an M&A structure in Thailand. For that, you need to contact a leading corporate law firm in Thailand and seek their legal due diligence services. Legal due diligence entails a careful examination of a target company’s corporate structure, operational procedures, regulatory compliance, licenses, labor, property, and other pertinent aspects. This will reveal whether there are any foreign ownership restrictions pertaining to the target company or the proposed investment.

Stages of Forming Mergers & Acquisitions in Thailand

Stage 1:

A Memorandum of Understanding (MoU) or Letter of Intent (LoI) is signed by the parties. At this stage, an MOU should specify the binding provisions and confidentiality terms.

Stage 2:

By conducting due diligence on the business, real estate, legality, and finances, among other things, the buyer examines various issues within the target organization.

Stage 3:

The parties begin the buy-sell negotiation after the due diligence procedure and resolve issues raised by the due diligence.

Stage 4:

The parties prepare the Sales and Buy Agreements and relevant documents to make them ready for signature and the business seal. The Thai Civil and Commercial Law confirms the signed agreements.

To make yourself eligible to form a Mergers and Acquisitions in Thailand, there are various parameters that you must abide by. It starts with an understanding of the Thai corporate structure and compliances properly. Additionally, you must have a proper knowledge of the Thai tax and regulatory landscape.

However, if you hire a reliable corporate law firm in Thailand, it will make the process easier for you. All you need to do for this is to email us at officer@konradlegal.com and go for an email consultation.

NGO Registration in Thailand for Foreigners

 

For NGO Registration in Thailand, foreigners will have to go for either Thai Registered Foundations or Foreign Private Organizations. Sounds confusing?

As a leading corporate law firm in Thailand, allow us to make your plan of registering an NGO (Non-Government Organization) in Thailand a success!

We all know that a private organization engaging in charitable or social welfare activities is an “NGO”. Such organizations never conduct operations to earn profit. Thailand has become a sought-after destination for NGOs due to its advantageous location at the heart of South East Asia. Additionally, it is one of the host countries of the United Nations. 

The registration of NGOs, however, is not specifically covered by Thai law. Instead, NGOs fall under one of two categories, i.e., foreign private organizations or Thai registered foundations. Let us take a quick glance at the difference between these two types of business structures.

Foreign Private Organizations Registered as NGOs in Thailand

Without creating a local entity, foreign NGOs are allowed to register their presence and apply for work authorization in Thailand. NGOs are categorized as Foreign Private Organizations in this case. However, it is typically advisable for foreign Organizations looking to operate in Thailand to create a foundation. This is due to administrative challenges associated with running a foreign NGO in Thailand without a local entity registration.

The Committee on Consideration of the Entry of Foreign Private Organizations must grant permission for foreign NGOs to function in Thailand. A foreign NGO will be given a limited license by the Committee to work in Thailand. For international workers and volunteers, obtaining work permits and visas to remain in Thailand are two different processes.

Yet, NGOs functioning as FPOs frequently face financial and legal challenges when it comes to day-to-day problems. Thus, it is often more appropriate to register a local Foundation under Thai law. It becomes mandatory when the NGO involves in any major work or financial activity in Thailand.

Thailand Registered Foundation as an NGO

To pursue their goals and carry out operations in Thailand, NGOs may create a local legal organization called a Foundation.

Thailand Foundations are non-profit organizations with authorization from the Thai Ministry of Interior. Such organizations can carry out charitable, religious, artistic, scientific, literary, educational, and other public interest endeavors.

The process needs a minimum of three board members to supervise either Thai or international volunteers. They must do so on a voluntary basis. Additionally, they must be able to show a minimum donation of 200,000 Baht to form a foundation in Thailand. To prove this, a supporting bank account statement is necessary.

Although not mandatory, yet, one of the board members should be a Thai native. It is because the NGO will undoubtedly benefit from having a member who speaks Thai well and is familiar with local practices. Officers of the Foundation must also get a police clearance from the national police force of their home country.

Regulations for NGO Registration in Thailand for Foreigners

For a developing nation, foreign NGOs offer a possible source of material and technological support. Yet, a complex bureaucratic structure necessitates foreign NGOs to apply for authorization. They must do so before opening a local office in Thailand. The Ministry of Labor and Social Welfare oversees the operation of foreign NGOs in Thailand, and two main regulations govern this process:

• The Ministry of Labor and Social Welfare’s B.E. 2541 (1998) regulations on the entry of foreign private organizations that operate in Thailand.
• Governing principles for consideration and guidelines on the entry of foreign private organizations to operate in Thailand and the building of regional offices in Thailand, according to the Committee on Consideration of the Entry of Foreign Private Organization Regulation B.E. 2543 (2000).

The Committee on Consideration of the Entry of Foreign Private Organizations authorizes foreign NGOs to operate in the nation. It grants permission to foreign NGOs on the basis of the following criteria:

• The country’s strategy for societal advancement, economic growth, and national security
• Preserving positive ties between Thailand and other nations
• The foreign NGO’s objectives and methods of operation while requesting authorization to operate
• Relevant government department’s opinions and recommendations
• The advantages of permitting the foreign NGOs to operate in Thailand

It is significant to remember that Thai law defines the following terms:

• An “institution, organization, society, foundation or group of foreign persons who are in the private sector or who are receiving support from a foreign government” is a foreign non-governmental organization (NGO).
• The definition of “operation” as it relates to the running of a foreign non-governmental organization (NGO) is “an application to establish an office or to operate an activity in order to help or support regardless of whether the form of support is financial support, organizing seminars or exhibitions, donations, support in terms of materials or equipment or durable goods, offering knowledge and technological or other forms of support.”

If a foreign NGO has been given authorization to operate in one of the aforementioned ways, the Committee will provide them a license that is only valid for two years. The foreign NGO must abide by the particular requirements of the license, which include submitting a semi-annual report to the Committee outlining the outcomes of the NGO’s activity.

Foreign NGOs must seek legal advice before starting operations in Thailand due to the complexity of the laws and regulations in that nation. For complete assistance in the process, email us at officer@konradlegal.com and our team will get back to you within 1 Thai working day.

How Can Chinese Business Owners Register Business in Thailand?

 

Thailand, with its strategic location, vibrant economy, and investor-friendly policies, has become an attractive destination for foreign investors, including those from China. Setting up a company in Thailand offers numerous advantages, such as access to a large consumer market, a skilled workforce, and various business incentives. This article serves as a comprehensive guide to Company Registration in Thailand for Chinese investors.

Understanding the Business Structure Options

Thailand allows foreign investors to choose from different business structures, including:

a) Limited Company (Private Limited or PLC):

This is the most common form of business structure, offering limited liability protection for shareholders and a minimum requirement of three promoters.

b) Public Limited Company (PLC):

This structure is suitable for larger enterprises planning to raise capital from the public through the stock exchange. It requires a minimum of 15 promoters.

c) Representative Office:

Ideal for companies looking to conduct market research, feasibility studies, or liaise with clients but not engage in revenue-generating activities.

d) Branch Office:

A branch of a foreign company that allows it to operate in Thailand under the same name and business activities as the parent company.

• Reserved Business Activities

Thailand has a list of business activities reserved for Thai nationals. Chinese investors must ensure that their desired business activities are not on this list or obtain necessary permits through the Foreign Business Act.

• Minimum Capital Requirements

For a limited company, the minimum registered capital requirement is 2 million Thai Baht (THB), out of which 25% must be paid up. There are no minimum capital requirements for representative offices or branch offices, but sufficient funds should be available to cover initial operating costs.

Company Registration Process

The company registration process involves several steps:

a) Reserve a Company Name:

The first step is to reserve a unique company name at the Department of Business Development.

b) Obtain a Thai Foreign Business License (if applicable):

If the business activity falls under the restricted list, you must obtain a Foreign Business License from the Ministry of Commerce.

c) Deposit Initial Capital:

Transfer the initial capital to a local Thai bank account.

d) Prepare Necessary Documents:

Prepare the company’s memorandum of association, articles of association, and other required documents.

e) Submit Application:

Submit the application for company registration to the Department of Business Development.

f) Tax Identification Number (TIN) and VAT Registration:

Once the company is registered, obtain a TIN and register for Value Added Tax (VAT) if applicable.

Engage with Professional Services for Company Registration in Thailand for Chinese Investors

Navigating the company registration process in Thailand can be complex. You must engage with local corporate lawyers or company registration firms. You must check whether these lawyers or firms have experience in assisting Company Registration in Thailand for Chinese investors. This will ensure a smooth and efficient registration process.

After company registration, it is crucial to comply with all relevant Thai laws and regulations. This includes obtaining work permits and visas for foreign employees, complying with tax requirements, and adhering to labor laws. For assistance of all types, feel free to let us know at officer@konradlegal.com. 

Registering a company in Thailand presents an exciting opportunity for Chinese investors. Undoubtedly, it helps them to tap into Southeast Asia’s dynamic markets and business landscape. However, understanding the available business structures, meeting minimum capital requirements, and adhering to Thai regulations is crucial. Through this, Chinese investors can establish a successful business venture in Thailand.

Therefore, seeking assistance from professional services ensures a seamless and compliant registration process, setting the stage for a prosperous business journey in the Land of Smiles. Contact us and our team will thoroughly guide you through the process of Company Registration in Thailand.

How can Singaporeans Register Business in Thailand?

 

There are various factors that make Thailand and Singapore comfortable for investors of either region to do business in. The bilateral trade treaties make the process of Company Registration in Thailand easy for Singaporean business owners. Furthermore, both these companies complement each other in various sectors, hence, boosting these bilateral ties.

Are you an Investor from Singapore? Then now is the time to register your business in Thailand. Singapore is the leading financial hub in Southeast Asia and a well-liked location for foreign investors to set up regional offices. The second-largest economy in ASEAN and a major producer of exports is Thailand.

Relationship between Thailand and Singapore

Thailand and Singapore share healthy and mutually beneficial economic ties. With an investment of US$11.85 billion, Singapore was the second largest foreign investor in Thailand in 2022 just after China. Singapore holds a total stock of US$24.9 billion in direct investments in Thailand. It is mostly in the real estate, manufacturing, wholesale and retail trade, banking and insurance services, and manufacturing sectors.

Bilateral trade increased by 31.9% over the same period last year. Its value is S$21.6 billion (US$15.7 billion) through the first half of 2023. Gems and jewelry, unwrought gold, refined oil, circuit boards, computer equipment and components, and other industrial goods are among the main Thai exports to Singapore. Computer hardware and components, chemicals, refined oil, circuit boards, jewelry, diamonds, and bullion and gold are the main exports from Singapore to Thailand.

The nature of agreements between the nations clearly reflects that the Thai government is readily embracing Singapore’s top strategies. Most importantly, this is to encourage investment and effective regulation. As the two nations’ relations deepen, Thailand will be better able to transform its economy towards innovation and services. Furthermore, business owners and investors from Singapore with headquarters here will have access to a significant regional economy.

So isn’t this appealing enough? Therefore, both nations are well set to collaborate with each other in mutual development. So, why should you fall back on availing of the benefits? 

Here is the process to do business by Company Registration in Thailand as a Singaporean! 

Company Registration in Thailand for Singaporeans involves a specific process with the following general steps:

• Foreign Business License (FBL) Application: As a Singaporean, you will need to obtain a Foreign Business License in Thailand. This is mandatory to engage in certain business activities. Furthermore, the FBL is mandatory for most types of businesses unless they fall under specific exemptions.
• Business Activities Check: Make sure the business you want to set up is not on Thailand’s restricted or prohibited list. Note that, some businesses are limited to Thai nationals or require special permits.
• Company Name Reservation: Choose a unique company name and reserve it with the Department of Business Development.
• Memorandum of Association (MOA) and Articles of Association (AOA): Prepare the MOA and AOA in Thailand. This must outline the company’s structure, objectives, and rules.
• Shareholders and Directors: Identify the shareholders and appoint directors. As a Singaporean citizen, you can be a shareholder and director of the company.
• Registered Office Address: You’ll need to have a registered office address in Thailand for official communications.
• Submission of Documents: Submit all required documents, including the FBL application, MOA, and AOA, to the Department of Business Development.
• Registration and Tax ID: After approval of your application and documents, you’ll receive a company registration certificate and a tax identification number.
• VAT Registration: Depending on your business activities, you may also need to register for Value Added Tax (VAT) with the Revenue Department.

You should note that there are various bilateral trade treaties between Thailand and Singapore. Availing them will help you ease the process of company registration in Thailand. For any and all types of professional legal help for company registration in Thailand, email us at officer@konradlegal.com. Our team will get back to you within 1 business day.

Registration of Holding Company in Thailand

 

Are you planning for a Holding Company Registration in Thailand? Irrespective of the fact as whether you are a Thai or a foreign business owner, you may proceed with that. But before everything, you must know what is a Thai Holding Company and what are its features and privileges. The purpose of this guide is to comprehensively guide on the same. For further assistance, we are always reachable to help you with the best corporate law and accounting services in Thailand.

A Thai holding company primarily exists to hold and control the shares or assets of other companies. It is applicable to both domestic and foreign companies. A holding company cannot purposefully engage in direct business operations. However, it can manage its investments in other companies, known as subsidiaries. Holding companies are common in Thailand, due to their various benefits and advantages.

Key Features & Functions of a Thai Holding Company 

Ownership and Control

The purpose of a holding company in Thailand is primarily to have ownership and control over other companies. It achieves this by acquiring a significant portion of shares or assets of these subsidiary companies. Acquisition of such shares or assets is the "holding company's investments."

Risk Management

By holding diversified investments in multiple companies, a Thai holding company can evenly distribute its risk. If one subsidiary faces financial difficulties or legal issues, the other companies may remain active. Furthermore, these companies can provide aid to the subsidiary at risk. This provides a buffer against potential losses.

Asset Protection

Holding companies can offer asset protection by separating the ownership of assets from the operational risks. This structure can help shield the holding company's assets from potential liabilities incurred by its subsidiaries.

Tax Planning

In some cases, holding companies can facilitate tax planning strategies. Depending on Thailand's tax laws and the countries in which its subsidiaries operate, a holding company may be able to optimize tax efficiency within legal boundaries.

Consolidation of Financial Statements

A holding company typically prepares consolidated financial statements that include the financial results of all its subsidiaries. This provides a comprehensive view of the overall financial health of the entire group of companies.

Financing and Investment

Holding companies can raise capital through debt or equity financing and then use these funds to invest in new businesses or expand existing ones.

Dividend Income

The holding company can receive dividend income from its subsidiaries, providing a steady stream of revenue.

Governance and Decision-making

The holding company's board of directors exercises control over the group and its subsidiaries. This centralized governance can lead to more effective decision-making and resource allocation across the group.

It's important to note that while holding companies can offer various advantages, there are also legal and regulatory considerations to keep in mind. The establishment and operation of a holding company in Thailand must comply with the country's corporate laws and relevant regulations.

Foreigners may own a holding company in Thailand, provided that there is a genuine Thai partner in the business venture. This local partner will be a shareholder that must invest his own capital. It is prohibited under Thailand's company laws to have a local Thai partner who hasn't invested his own capital and holds company shares owned by somebody else. It is thus important to partner with genuine shareholders to operate your business under this structure. 

Benefits of Holding Company Registration in Thailand

Foreign investors choose to open a Thai Holding Company due to its ability to evolve and expand into new companies. It can be through local and/or foreign subsidiaries irrespective of their connections with their present business activities.

Additionally, setting up a Thai Holding Company helps foreigners avoid difficulties when applying for a listing on the Exchange. Holding companies can acquire subsidiaries that have various firm structures and subsidiaries on the list of the Exchange. Through this, they have better chances of having their stock listings without encountering any problems. 

Eligibility to Start a Holding Company in Thailand

There is no need to find a wealthy Thai investor to set up a holding company in Thailand. All you need is a local person you can trust, who can fork over 51% of the registered capital of 100,000 baht. 

You can set up a second company to hold a majority of the company shares and then offer shares from the operating company. This second company, being an investor, has a substantially lower capital than the operating company as its purpose of existence is to hold the operating company's majority of shares. 

What you need then is a Thai investor who can finance the holding company's capital that is much lower than the 51% of the usual 1 million baht required from regular investors. Applying for a holding company can take five to seven days to complete. 

As a result of this arrangement, both the operating and holding companies will be recognized as Thai companies that will be allowed to be involved in any business activity. This is because 51% of the operating company will be held by the holding company, whilst 49% will be held by foreign owners. This 51% is to be held by the true local investor, whilst 49% is to be held by the foreign owner.

Steps of Holding Company Registration in Thailand 

A holding company falls under the Thai Limited Liability Company (LLC) Category. Although LLCs allow companies to be 100% foreign-owned, holding companies require the majority of the company's shares (at least 51%) to be owned by a Thai national. 

To open a holding company, follow the steps of setting up a Thai Limited Company: 

• Reserve a Company Name 
• File the Memorandum of Association
• Organize a Statutory Meeting
• Holding Company Registration
• Tax Registration (Corporate Income Tax, Value Added Tax, and Withholding Tax)
• Open a Corporate Bank Account 

Get Work Permits and Visas 

All foreign employees and directors must get a work permit before being allowed to do business in the country. The company can be eligible to sponsor one non-immigrant foreign member if they meet the Ministry of Labour and Immigration Bureau requirements.

If you're considering setting up a Thai holding company or incorporating any type of business entity in Thailand, it's advisable to consult with Thai legal and accounting experts who can provide tailored advice based on your specific business goals and circumstances. Therefore, for the best professional results, email us at officer@konradlegal.com.

What are the Rights and Responsibilities of Company Director in Thailand?

 

This is a basic overview of the rights and responsibilities of a company director in Thailand.

In Thailand, each corporation is required to have at least one director who will oversee the company’s operations in accordance with its bylaws and annual shareholders’ meeting.

Role of a Company Director in Thailand

• Deciding by voting at the board meeting
• Deciding on matters required by laws or proposed by the management
• Setting goals, policies, and strategies
• Monitor, oversee, and evaluate

Eligibility to Become a Company Director in Thailand

The qualifications for an individual to be a director are:

• Must be at least 20 years old
• Not incompetent or bankrupt
• Can be a resident or non-resident

Appointment of Company Director in Thailand

The general shareholder meeting has the power to elect directors. A new director for the corporation may only be appointed by the majority of shareholder votes. After the election is complete, an individual earns the position, rights, and responsibilities of a company director in Thailand.

Resignation of Company Director in Thailand

Any director who wishes to resign must submit a resignation letter to the company in accordance with section 1153 of the Thai Limited Company Law, and the resignation is effective as of the day the letter is received by the business. Resigning directors may also inform the Registrar of their resignation.

The director’s declaration to resign from his position as a corporate director must be included in the resignation letter and must be signed by the departing director.

Removal of a Thai Company Director

A general meeting resolution that removes a director may be adopted.

If a director refuses to sign the resignation letter, issues may occur when removing them. A shareholder resolution to fire the director should be secured if this occurs.

The company must file the registration to the Ministry of Commerce within 14 days of a change in the board of directors.

Duties of a Thai Company Director

Statutory Duties

The duties of a director in a Private Limited Company in Thailand include:

• Manage the company according to their experience and knowledge
• Make sure that shareholders make the payment of shares
• Organize the keeping of books and documents
• Distribute the dividend or interest payments
• Enforce the decisions in the shareholders’ meetings
• Not undertake commercial transactions of the same nature as, and competing with the company, either on his own account or of a third person
• Not be a partner with unlimited liability in other companies of the same nature as or competing with the company

In addition to the above, Public Company Directors have the entitlement to some more duties like the following:

• Observing the Public Companies Act, the company’s objects and articles of association
• Not engage in any business in competition with the company
• Where a director purchases or sells property or does any business with the company, such transactions do not bind the company, unless approved by the board of directors

Fiduciary Duties

The fiduciary duties of a director are to:

• Act in good faith and in the best interests of the company
• Act with proper intentions
• Avoid conflict of interest between personal and company matters

Powers of Thai Company Directors

• Although there may be vacancies among them, the remaining directors may still act. However, if and for as long as their number falls below that required to constitute a quorum, the remaining directors may only act to call a general meeting of the company or to increase the number of directors to that number (section 1159).
• Directors may determine the quorum for the transaction of business at their meetings. However, in case of no quorum, three directors must form the majority when there are more than three directors (section 1160).
• At every board meeting, a majority vote settles the questions. However, in the event of a tie vote, the chairman has a casting vote (section 1161).
• A director may convene a board meeting at any moment (section 1162).
• The directors may choose one of their members to preside over meetings. Additionally, they can set the tenure of his/her term in office in the absence of a chairman (section 1163).
• Any authority held by the directors is subject to transfer to management or committees made up of other directors. Every manager or committee must follow any directives or rules that the directors may impose on them when exercising the authority entrusted to them (section 1164).

Liabilities of a Thai Company Director

If a director doesn’t carry out their duties or responsibilities, they may face termination, face financial penalties, or have to pay the firm, their shareholders, or other parties that suffered losses.

If the director’s negligence causes a criminal offense, such as public cheating and fraud, defamation, document forgery, or currency counterfeiting, the offense is due to the director’s action or negligence in order for the director to be criminally accountable.

According to Section 1169 of the Civil and Commercial Code, the company or, in the event the company declines to act, any shareholder, may file claims against the directors for compensation for harm they caused to the firm.

In the event that the company’s creditors have unresolved claims against it, they may also enforce such claims.

In order to avoid any duty violations, it is crucial that you understand the functions and responsibilities of a director, who are a necessary component of any Thai firm. 

However, to be a Director of a Thai company, you must register your company in Thailand. Are you aspiring to be one? 
Contact Konrad Legal Company Limited for complete support and coordination in the process with expert company registration services in Thailand. Email us at officer@konradlegal.com and our team will get back to you within one working day! Additionally, we can also help you through the process of maintaining decorum and executing all the rights and responsibilities as a company director in Thailand.

How to Find the Top Corporate Law Firm in Thailand?

 

Have you recently moved to Thailand and planning to register a company or your existing business in Thailand? Then you must have the best corporate law firm in Thailand by your side!

To start with, let us suggest you something – “It’s never true, that law firms giving high quotes for their services are the best ones in Thailand”. Don’t get carried away by the sophistication of talks and the process of starting a conversation or deal. You may suffer delay or transactional setbacks in later stages. Do your research properly!

We, as a leading corporate law firm in Thailand, feel that even if you hesitate to reach out to us, you should make a well-informed and wise decision in making your selection. To support our feeling, we have shared some points that will help you take the best decision.

Ask the Internet – “Best Corporate Law Firm in Thailand”

Now we all have “the internet” in our pockets. Simply ask Google or Safari for the “best corporate law firms in Thailand”, by typing the same on the search bar or doing a voice search. Within a fraction of a second, you will be able to see a non-exhaustive list of law firms and corporate lawyers in Thailand. 

But the results that are ranking on top in the search engines may not be the ones you are looking for!

Have you gone through the reviews? That should be your first target to check upon. Check the reviews and try to identify how many of them sound natural to you. Remember that to rank up in search engines many businesses and organizations use resources to get paid reviews. So comments in the reviews that sound highly professional and perfect in English needs to have your consideration of their genuineness.

Check the reviews and try to match the statements of the reviewers with your case or the service that you require from that law firm. If you can find a resonance, you can proceed and contact them.

Seek References and Recommendations

In this case, two types of your acquaintances can help you out. First, any of your family members or friends who is/are living here in Thailand. Second, any of your business connections who have their branches, affiliations, units, or associates operating here in Thailand. This will be the most trustworthy source of information to help you find the “Best Corporate Law Firm in Thailand.

If you have this option active, then there is no need to rely on any other source of information or do any further research. However, there can be times when the referred or recommended lawyer, law firm, or agency may not be appropriate for your requirement.

In that case, you can take reference from the law firm that your acquaintances have referred you for. Being a unit in the circle of trust, they will surely help you with the correct information and connect you with the right professional.

Cross-check with the Authorities

Every law firm or agency holds a registration number in Thailand. The same goes for lawyers as well. This is a global practice. Therefore, after getting convinced about the ability of any law firm or agency, or lawyer in Thailand, do check their authenticity. There are certain websites of relevant authorities that can help you find the difference. Let us help you with the links –

To check Corporate Law Firms in Thailand: Department of Business Development Data Warehouse

To check Lawyer Profiles in Thailand: Lawyer Council of Thailand under Royal Patronage

These two are the most trustworthy sources to check the authenticity of any corporate lawyer or law firm in Thailand. If you can’t see the name of the Thai law firm or lawyer listed in these databases, be assured that they are not registered entities and are carrying on their business illegally.

Be True to Share your Plans and Bold to Ask Questions

After completing all of the above stages, you can be apparently confident that you have found the best corporate law firm in Thailand. But, never be assured that this is going to be the best. It is because once you start believing this, you will fail to gain the confidence to ask questions.

Your corporate lawyer can help you only if you are able to disclose your business plan clearly. For example, merely stating that “I want to do manufacturing business in Thailand” will never work. You should state your objectives very clearly – “I want to start a production unit in Bangkok to manufacture automobile parts”. 

The more clear you can be in sharing your plans, the better suggestions and advice can you expect from your lawyer. Additionally, you may receive suggestions for benefits like:

• Promotions from the Board of Investment Thailand
• Industrial Estate Authority of Thailand Privileges
• Bilateral Trade Treaty Benefits like the US-Thai Amity Treaty

After you share your requirements in detail, the corporate lawyer will now be able to guide you with the best options. Now after patiently listening to all the advice, suggestions, and guidance of the lawyer you approach, feel free to ask him/her/them the following few questions:

– Have you registered such a type of company before?

If Yes, ask for references. They may talk about non-disclosure agreements, but still, they can share the name of the company with you.

If No, ask, have you registered any similar business structure earlier?

– Do you have strong relations with Thai authorities?

If Yes, then there’s an assurance that your process is going to be complete very fast. However, no need to dive into demotivation if the answer is No.

– How many similar types of company registration requests do you receive in a month?

– Will you be able to appoint a dedicated officer or legal professional for my task?

– What is the minimum and maximum time that you need to complete my registration process?

– Can you help me with a simple outline of the cost involved in the process?

While receiving the answers, keep the following things under observation:

• Was the reception warm enough and you were feeling comfortable in the premises and company?
• Were the lawyers confident enough in disclosing their capabilities and answering your questions?
• Were they able to answer all your queries in a single sitting or did they take any break during the session?
• Were they listening to your explanations about the task patiently or interfering in your speech?
• Did they postpone some of the answers that they will deliver at the next meeting or over email or call?

Overall, you have to trust your instincts in this case. If you feel comfortable and gain confidence in the capabilities of the firm you approach after researching or gaining references, you may proceed.
However, if all these seem difficult, you may email us at officer@konradlegal.com.

We are a Department of Business Development of Thailand registered corporate law firm in Thailand since 2013. We patiently listen to our client’s requirements and then share our capabilities by which they can easily achieve success in their business objectives. To date, more than 1000 companies got benefitted from our services. Want to be the next one? Write to us!