Thailand Private Limited Company is the preferred form of a legal entity for foreigners interested in establishing a full corporate presence in the Kingdom.
The company must be set up by a minimum of three natural persons, called promoters, as stipulated in section 1097 of the Civil and Commercial Code. The promoters must be 12 years of age or older and can reside in Thailand or abroad. Each promoter is required to be among the company’s initial shareholders immediately after the company’s registration and is required to hold minimum one share upon the company’s registration. Those shares are generally free to transfer to the existing shareholders or third parties after incorporation. Once the company has been established a shareholder can also be a juristic person.
A private limited company must at all times have at least three shareholders; otherwise it risks a court order for dissolution.