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Thailand: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Public Limited Company. No minimum capital.	Minimum 15 shareholders Liability is limited to the amount contributed.
Private Limited Company. Minimum: THB 15	Minimum 3 partners Liability is limited to the amount contributed.
Unregistered ordinary partnership. No minimum capital.	Minimum 2 partners. Partners' liability is joint and several.
Registered ordinary partnership No minimum capital.	Minimum 2 partners. Liability is limited to the amount contributed for at least one partner and unlimited for the others.
Limited partnership No minimum capital.	No minimum Liability is limited to the amount contributed for at least one partner and unlimited for the others.

The Competent Organization: Department of Business Development

Setting Up a Company	Thailand	East Asia & Pacific
Procedures (number)	7.0	7.8
Time (days)	32.0	39.0

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Thailand.
Thailand Company Registration
Department of Business Development

Working Conditions

Legal Weekly Duration: 48 hours
Retirement Age: There is no legal age of retirement except for civil servants who can retire at 60.
Working Contracts: Employment contracts are regulated by Law. Individual negotiations and collective agreements complement it.

Cost of Labor

Minimum Wage: between 140 baht (USD3.75) and 168 baht (USD4.94) by day
Average Wage: The average monthly gross earnings in Thailand is THB 7,730 (USD 226).
Social contributions: Social Security Contributions Paid By Employers: 2 %.
Social Security Contributions Paid By Employees: 2 %.

Social Partners

Social Dialogue and Involvement of Social Partners: N/A.
Unions: THAI LABOUR Web site.
THAI LABOUR Campaigns.
THAI LABOUR Portal.
Unionization Rate: For information on influences and percentage of Thai in Unions please consult the THAI LABOR Web site.
Labor Regulation Bodies: Department of employment

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Last Updates: January 2012