A company director in Thailand bears serious responsibility before the state, including potential criminal liability.
This is often overlooked by directors of “dormant” companies registered solely for holding real estate.
Even where the company has no active business operations, the director’s duties include:
- obtaining the company tax identification number. Within one month after application, the tax number card must be delivered to the company’s registered address.
- obtaining a tax identification number for the director.
- issuing share certificates, which are documents provided to each shareholder.
- maintaining the company’s accounting and financial reporting on a monthly and annual basis.
Failure to fulfill these obligations may result in fines and other penalties.
Alexandra Agapitova.
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