FAQ - How to add directors and change shareholders
Now we had finished the establishing a foreign company in Thailand. Our promoters are made up with 2 Thai and 2 foreign people who are not only directors but also shareholders. I would like to know the whole process of changing the foreign shareholders and directors.
Which document do we prepare and how long does it take time?
Which document do we prepare and how long does it take time? 81
When changing shareholders please make sure your company maintains the amount of at least three shareholders.
In order to add directors you need to follow the procedure below:
1. Call for a meeting of shareholders by 1. sending a letter calling for a meeting via acknowledgement posting and 2. making an announcement in the local Thai newspaper where your head office is. You have to do these two things 7 days prior to the meeting date. For example, if the announcement is posted in the local newspaper on August 6, the meeting date will be on August 14.
2. After the meeting is held, fill out the following forms in Thai:Document
1. BOJ 1
2. BOJ 4
3. BJ Certify
4. Form K (list of new board of director)
5. Power of attorney + a copy of attorney's (lawyer) law society membership card with his/her signature (the attorney needs to sign in the BOJ 1 form to certify the old director's signature). These two documents are required in case the director does not submit all the documents himself.
Along with these forms, you need to also submit a copy of ID card/passport of the old director who has authority to sign and of the new directors.
In order to change shareholders you need to fill out the following forms:Document
1. BOJ 5
2. Send shareholder form
Please remember that all DBD forms must be filled out by typing in Thai. Once you have prepared all the required forms and documents you can submit at the DBD provincial office where your head office is located in and they can proceed your application in one day.