In order to set up a limited company in Thailand, the following procedures should be followed :

          Corporate name reservation. The name to be deserved must not be the same or close to that of other companies. Certain names are not followed and therefore the name reservation guidelines of the Commercial Registration Department on the Ministry of Commerce should be observed . The approved corporate name is valid for 30 days. No extension is allowed.

File a Memorandum of Association

          A Memorandum of Association to be filed with the Commercial Registration Department must include the name of the Company that has been successfully reserved , the province where the company will be lacated, its business objectives , the capital to be registered ,and the names of the seven promoters. The capital information must include the number of shares and the par value. At the information step, the authorized capital, although partly Paid , must all be issued. I find love russian wife, for you.

          Although there are no minimum capital requirements, the size of the capital should be respectable enough and adequate for the intend business operation.

          The Memorandum registration fee is 50 baht per 100,000 baht of registered capital. The minimum fee is 500 baht , the maximum 25,000 baht.

Convene a Statutory Meeting

          Once the share structure has been defined , a statutory meeting is called. A minimum of 25 percent of the par value of each subscribed share must be paid .

Registration

          Within three months of the date of the Statutory Meeting , The directors must submit applications to establish the company, Company registration fees are 500 baht per 100,000 baht or registered capital . The minimum fee is 5,000 baht; the maximum fee is 250,000 baht

Tax Registration

          Businesses liable for income tax must obtain a tax I.D. card and number for the company from Revenue Department within 60 days of incorporation or the start of operations. Business operators earning more than 600,000 baht per annum must register for VAT within 30 days of the date they reach 600,000 baht in sales.

Reporting Requirements

          Firms must keep books and follow accounting procedures specified in the Civil and Commercial Code, The Revenue Code and the Accounts Act. Documents may be prepared in any language, provided that a Thai Translation is attached. Imposition of Taxes

          Companies are required to withhold income tax from the salary of all regular employees. A value-added tax of 7 percent is levied on the value added at each stage of the production process, and is applicable to most firms. The VAT must be paid on a monthly basis.

          A specific business tax is levied on firms engaged in several categories of business not subject to VAT, based on gross receipts at a variable rate ranging from 0.1 -3.0 percent. Corporate income tax is 30 percent of net profits and is due twice each fiscal year. A mid-year profit forecast entails advance payment of corporate taxes.

Annual Accounts

          A balance sheet must be prepared annually. The performance record is to be certified by the company auditor, approved by shareholders , and field with the Commercial Registration Department, Ministry of Commerce , within five months of the end of the fiscal year, and with the Revenue Department, Ministry of Finance, within 150 days of the end of the fiscal year.

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Types of business organization

          Thailand recognizes three types of business organizations :

Sole proprietorship

          This is a firm owned by a single individual which is not incorporated. All of the proprietor's assets , both business and personal,are subject to attachment or other legal actions which may be brought with respect to the business.

Partnership

          Thai and Western concepts of partnership are broadly similar . Thailand provides for three general types of partnerships :

          Unregistered ordinary partnerships in which all partners are jointly and wholly liable for all obligations of the partnership

          Registered ordinary partnership. If registered, the partnership becomes a legal entity, separate and distinct from the individual partners

          Limited partnerships. Individual partner liability is registered to the amount of capital contributed to the partnership, Limited partnerships must be registered.

Limited Companies

          There are two types of limited companies,i.e. private or closely held companies and public companies.The first is governed by the Civil and Commercial Code, The Second by the Public Company Act.

          Limited Companies in Thailand have basis characteristics similar to those of Western corporations. A limited company is formed through a process which leads to the registration of a Memorandum of Association (Articles of Incorporation) and Articles of Association (By-laws), as its constitutive documents.

          Shareholders enjoy limited liability, i.e. limited to the remaining unpaid amount, if any , of the par values of their shares. A minimum of seven shareholders in the case of a private limited company, is required at all times.

          Public Limited Companies registered in Thailand may, subject to compliance with the prospectus,approval ,and other requirements, offer shares , debentures and warrants to the public and may apply to have their securities listed on the Stock Exchange of Thailand(SET).

Other Forms of Corporate Presence

          Branches or Foreign companies. There is no special requirement for foreign companies t register their branches in order to do the business in Thailand.However, most business activities fall within the scope of one or more laws or regulations which require special registration , either before or after the commencement of activities. Foreign business establishment must, therefore, follow generally acceptable procedures.

          A representative office of foreign corporations may also be established to engage in limited "non-trading" activities such as souring of goods or services in Thailand for its head office or inspecting and controlling quality of goods which its head office purchases in Thailand.

          A regional office of a multinational corporation may also be established to coordinate and direct the operation of the branches and affiliates of the head office in the region on behalf of the head office. It must not generate any income or engage in any business negotiation. Regional offices are, however , eligible to apply for promotion from the Board of Investment and are eligible to generate income if they are approved (See chapter 5,page 24)

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Labor Regulations

          Employment legislation has a direct bearing on labor practices for each type of a business. Investors should seek appropriate advice to determine which legislation applies to their line of business.

Labor Protection

          In August 1998, the labor protection Act(1998) went into effect. It applies to all business with at least one employee. Under the law, employers who disregard the law ate subject to fines ranging from 5'000 to 20,000 baht and imprisonment of up to one year.

          Important protections contains in the the new law are :

          Work Hours and Holidays : Maximum work hours for non-hazardous work is eight hours a day or 48 hours a week. Hazardous work may not exceed seven hours a day or 42 hours per week. Employees are entitled to no fewer than 13 national holidays a year, and a minimum of six days of annual vacation. Employees have the choice of whether they wish to work overtime or on holidays

          The minimum age for employment is 15, and workers below the age of 18 are banned from dangerous and hazardous jobs. They are also prohibited from working overtime, on holidays, or between the hours of 10 p.m. and six a.m. Pregnant employees are also prohibited from working overtime,on holidays, or between the hours of 10 p.m. and 6 a.m.

          Sick Leave: Employees can take many days of sick leave as necessary, but if an employee takes three months of sick leave, the employer is required to pay only one month' s wages.

          Severance Pay: For employees who have worked more than 120 days, but less than one year,they are entitled to 30 days severance pay. For personnel employed between one and three years, the severance pay is not less than 90 days pay. Employees with three to six years of service will receive six months salary, those with more than six to 10 years service will receive eight months salary and employees with more than 10 years service will receive 10 months salary. filme online 2010 traducere in rusa gratis.

          Employee Welfare Fund : For companies with at least 10 employees that do not have a provident fung, an Employee Welfae Fund will be established to compensate employees who resign, are laid off , or die in service. Employees will be required to contribute to this fund. Note; Implementation of this fund will be delayed until the economy improves.

          In addition to these provisions, there are restrictions on the kind of work women and children can perform. Guidelines are set for wages and overtime, as well as resolution of labor-management disputes. Employers are required to pay workers compensation if an employee suffers injury, sickness or death in the course of work.

          Thai law also requires employers to provide welfare facilities, including medical and sanitary facilities. Firms with more than 10 employees must establish written work rules governing working conditions.

          Minimum wages regulations apply to all business and rates depend largely on the location of the workplace. Regular employees are also entitled to severance pay. Conditions for termination of employment are also laid out, and a code governs unfair practices and unfair dismissals, which often are the result of the failure to follow correct legal procedures, which are clearly spelled out . Employee Association and Labor Unions must be registered at the labor Department, and require a license for operation . Finally, a labor Court specifically settles employment disputes. Legal download mp3 songs

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Legal Implications of Labor Management

          In general, Thai labor law provide for considerable freedom on managing labor. In many countries, it is not legal to discriminate on the basis of age or sex. Perusal of personnel ads in Thai newspaper finds employers narrowly defining their needs:' The successful candidate will be male, under 35 years of age, not a member of a labor union, and at least 150 cm, in height, etc.

          Further, the government doesn't interfere with a company's retrenchment policies when economic conditions necessitate cutbacks. There is no "first in , last out" requirement in Thailand.

           Similarly, Thai employers have the right up transfer employees to other work locations, provided the transfer is not ordered with the exclusive intent to create hardship on them. Refusal to transfer is legal cause for dismissal.

Tips on Recruiting an Development Staff

          The ability of a company to attract and retain staff is considerably enhanced by tailoring compensation packages to meet individual employee needs. Increasingly, factors such as work ecbironment, organizational policies, relationships with superiors, and career path influence decisions whether to join, or remain with , a company . In a challenging living environment such as Bangkok, these " Quality of life" issues takes on even more importance.

          Organizing training programs to upgrade skills helps to motivate staff and demonstrates a company's commitment to its employees. Admission to such programs can be seen both as a reward for good performance and as part of the total compensation package.

Recruiting Technically- skilled Manpower

          There are two main English language daily newspapers which contain significant numbers of advertisements, both in English and in Thai. Both the Bangkok Post and the Nation boast circulation figures of close to 60,000 copies per day and advertising rates of two newspapers are similar.In addition to these mass-market dailies, there is an English - Language daily ,Business day which claims a daily circulation of approximately 10,000. In addition to reaching prospective employees through the print editions of these newspapers, it should be noted that the newspaper have classified advertisement on-line through their Home Pages.

          In addition, the Development of Employment, Ministry of Labor and Social Welfare. has a web site listing both job fairs and employment opportunities. It can be found at : www.doe.go.th

          Several domestic and international personnel recruitment services operate in Bangkok. In addition to securing personnel, these companies offer services such as advice on issues of organizational structure, labor relations, and the cultural implications of managing labor in Thailand.

          Developing contacts with educational institutes to identify and court potential candidates as early as possible is also recommended. For firms with ongoing manpower needs, establishing a network of contacts can be especially valuable.

          In addition to tailoring compensation packages to individual need and emphasizing long-term and organizational benefits, high-end technical employees, such as scientists and engineers, need to be given work commensurate with their skills. By allowing them greater challenges, and less narrowly defining their role so that it may include responsibilities in systems design and possibly management , technical personnel become more productive and are more likely to view themselves as integral to the company as a whole.

          Concrete, long-term benefits are an effective retention tool. Long - term benefits motivate personnel to work through problems and to identify self - Interest with company interest. Committing resources to long-term benefits also insures that companies realize increased production levels from staff as they gain experience.

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