Thailand: One Person Company Bill, Released For Public Hearings.
Legal News & Analysis - Asia Pacific - Thailand - Regulatory & Compliance
12 December, 2018
In January 2017, the Cabinet approved a Bill proposed by the Ministry of Commerce to permit the establishment of a private limited company with only one shareholder (as opposed to the normal requirement of three shareholders). One condition was that the shareholder must be a Thai national.
The Council of State was assigned to review the Bill. As part of the review process, public hearings for this Bill will be open from 19 November 2018 to 5 December 2018.
Note that unlike the Bill approved by Cabinet in 2017, the Bill released for public hearings does NOT state that the single shareholder must have Thai nationality. It only states that such person must be an individual who will be liable in an amount not exceeding the registered capital of the company.
We will monitor developments and keep you updated.
For further information, please contact:
Peerapan Tungsuwan, Partner, Baker & McKenzie