FAQ - How to set up distribution company
You can change the board of director and it can be done after the meeting with all the shareholders.
The procedure of changing the representative and the board of director:
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 news paper 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 today (July 23) the meeting date will be on July 31.
2. After the meeting is held, fill out the following forms in Thai:
Along with these forms, you need to also submit a copy of ID card/passport of the old representative who has authority to sign and the new representative (this applies in the case of changing a representative). Also, you need to submit a copy of ID card/passport of the new members of the board of director in case of changing the board of director.
If you have not registered the company within 30 days then you need to reapply for the name reservation again. You can reserve the same names if they are still available. The name reservation can be done at any DBD office.
After consulting with a registrar at the Department of Business Development (DBD) regarding your questions. Please kindly follow the answers in blue.
1. To set up Distribution Company
The first step is to reserve the company's name (the name reservation form in the attachment "company registration in 1 day" page 11). This is the form used by the DBD office at OSOS. You should provide three names. The names are valid for 30 days. If you have not registered the company within 30 days then you need to reapply for the name reservation again. You can reserve the same names if they are still available. The name reservation can be done at any DBD office.
The attachment "company registration in 1 day" provides information about company registration. Other attachments are DBD forms required for company registration and Memorandum of Association registration. The forms must be typed in Thai. I have also provided you a list of law firms, which provide consultation in company registration.
Since Thais hold shares more than 50 %, when registering the company you need to submit the following documents of Thai shareholders as well:
1. A copy of Thai shareholders' bank books (1. bank account's name page and 2. detail pages showing the money movement in the accounts from the previous six months to the latest page). The accounts must have a higher amount of money than the amount of share cost the shareholders must pay.2. A copy of ID cards
These copies must be signed by the Thai shareholders (owners of the documents) and by the representative who has authority to sign to certify them true and correct.