The easiest way to start business in Thailand for Thai nationals is partnership. It is very simple way to start business as per an agreement made by 2 partners or more and all parties agree to invest in the establishment of partnership for commercial purpose.
The terms and conditions which are made between parties can be clearly specified in orally or writing. All its very simply to do business but anyways, all parties must share all liabilities that was happened with the established partnership as personally.
However, the partnership can be registered with Department of Business Development. It called “Limited Partnership”
In case that the foreigner who want to establish any kind of partnership. It has to comply with the Foreigner Business Act. The partnership which is invested by foreigner more than a half of all investment shall be foreign nationals and the foreign business license shall be required before starting to operate the business. If the foreigner is not a majority investor, the foreigner can not act as a managing partner in the established partnership that affect the business control.
Anyways, we can give you the best advice that relay on your business nature and protect you own interests in a legally way.
The difference between Ordinary & Limited
|Agreement between partners||Required||Required|
|Registration of partner with authority||Not required||Required|
|Number of partners||2 or more||2 or more|
|Limited liability of partner||Not permitted||Permitted|
|Managing partner||Not required||Required|