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After the statutory meeting is held, the promoters shall turn over the business to the directors,
who shall then cause the promoters and subscribers to pay immediately upon each share payable in money such amount, not less than 25%, as detailed by the notice, advertisement or invitation. When the shares have been paid, the directors must then apply for the registration of the company within 3 months from the date of the statutory meeting.
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All companies in Thailand have to be registered for tax purposes and must obtain a company income tax identity card from the Revenue Department within 60 days of incorporation or start of operation.
Same as all other business forms, once established, a limited company must also follow accounting procedures specified in the Revenue, Civil and Commercial Code. Companies are required to file their audited financial statements once a year with the Department of Business Development and the Revenue Department.
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