How to Set Up a Foundation in Thailand
Updated on Thursday 15th December 2016
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A foundation in Thailand is dealing with donations in different areas of interest like religion, education, literature or science. The money comes from corporations or simple citizens and the foundation is in charge of investing and distributing the capital. It is good to know that no executive of a foundation in Thailand can benefit from the collected money. Our experts in company registration in Thailand can provide you with information and guidelines if you want to set up a foundation in Thailand.
Important documents to open a foundation in Thailand
From the beginning, we remind that a foundation in Thailand needs to have an official name and must have a registered office in the city in which will do activities. The Thai Ministry of Interior deals with the rules and regulations of charity foundations in Thailand and certain documents need to be prepared, such as:
• the application form to register the foundation in Thailand;
• the list of the owners (at least three individuals);
• the documents that prove the donations will be offered forward;
• the papers related to the rules and regulations of the foundation in Thailand;
• identity cards;
• the house registration certificate with the owner’s consent;
• details about the main office (address, map, etc.).
A foundation in Thailand needs to have at least BHT 500,000 valued assets, half of them in cash, in order to be registered. Our company formation agents in Thailand can offer assistance when preparing the documents and register the foundation. You can also solicit details about how to open a company in Thailand.
What you need to know about a foundation in Thailand
If you want to set up a foundation in Thailand you should be patient because the entire procedure lasts for about one year because the documents need to be properly verified by different ministers. A Thai foundation can have employees, to sponsor work permits and different visas. You should know that the taxation rate for a charity in Thailand is 1%.
Additional information and details about how to set up a foundation in Thailand can be found if you get in touch with our company formation representatives in Thailand.