News

Forming New Company at Ease by New Law

Forming New Company at Ease by New Law

Legal Article

On February 7th, 2023, the Civil and Commercial Code (No. 23) B.E. 2565 was amended to update the company registration law. This will support change and development in technology and encourage the registration of a limited company since it is much easier, as well as increase business flexibility. This could also strengthen the competitiveness of the country, create a reputation in Thai business, and support the digital economy and society.

There are several issues with this amendment to the Civil and Commercial Code. However, the main point is that the law changed the conditions for setting up a business. At present, 2 or more people can set up and register a limited company, which is different from the original, which specified that 3 or more people could register a limited company.

This will positively result in more company registrations because it will be more convenient and easier to make a decision with only 2 people, as well as increase business opportunities with more benefits in taxation.

Setting up a company is not difficult anymore. If you are interested, you can contact Naga Business Consulting’s teams. Our teams consist of legal, accounting, and immigration. With many years of experience, our service will be a one stop service for you.