This guide provides an overview of selecting and changing a company name in Thailand.
Choosing a company name is the first step of incorporating a company in Thailand, and there are specific restrictions and requirements you must follow to reserve a company name.
Let’s learn more.
Selecting a company name
Before registering a company name, you must check the availability of the name as company names must not be identical or the same as other pre-existing companies.
The following names and terms are not allowed for company names in Thailand:
- Names similar or the same as ministries or government departments
- Names associated with the royal family
- Names similar to other companies
- Names that are misleading
- Names violating public morals
- Terms prohibited from being used in a company name, such as investment
The term investment cannot be used in a company name, but capital can be used. The company name must also end with the word Limited. The same company name can be used for several companies if the name is accompanied by a different figurative word, such as XXX Holdings Ltd, XXX Capital Ltd or XXX Trading Ltd.
The company name is reserved with the Department of Business Development (DBD) of the Ministry of Commerce. You should submit three company names to increase the chances your company name is reserved. The company name must be reserved in Thai, even if the name is in English.
The approval will take approximately three working days, and once the company name is approved, it will be valid for 30 days which you must complete the next steps of registering your company. Do note that no extension is allowed.
Changing the company name
Required documents for company name change
Documents required for changing the company name are:
- Amendment for VAT registration (form porpor.09)
- The original and one copy of the VAT certification (porpor.20)
- Three copies of the VAT registration (porpor.01)
- Passport and ID card copy of the director
- Company affidavit
- Copy of the director’s house registration
- Updated company documents from the DBD
- Power of attorney
How to change the company name?
If your company changes its name, the Revenue Department and other government offices must be notified about the change. The corporate seal must also be updated upon changing the company name.
The first step of changing the company name is reserving a new company name with the DBD and order a new company seal consisting of the company’s new name.
The next step is to publish the calling of a shareholders meeting in a local newspaper within 14 days before the meeting. A notice of the meeting must also be sent to all shareholders by registered mail.
After the meeting is held and the shareholders approve the new company name, the change must be documented in the government’s forms and registered with the DBD within two weeks of the meeting.
Conclusion
When you set up a company in Thailand, you will first need to choose a company name and register it with the DBD, but you must ensure that the name is not already used by other companies. Name changes are allowed with approval from the company’s shareholders. Acclime has a professional legal team who can help you with the process.
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