Forming and running a Thai limited company

Section 1097 of the Civil and Commercial Code said three until section 6 of Amendment Act No. 23 B.E. 2565 replaced it with any two or more persons, in force from 7 February 2023. The rest of the formation rules sit in the same handful of sections. Every share the company proposes to register must be subscribed or allotted before the company is registered, under section 1104. A share cannot be worth less than five baht, under section 1117. The first payment on each share must be not less than twenty-five per cent of its nominal amount, under section 1105, and section 1110 puts the collecting of it on the directors once the statutory meeting has been held. None of that is the hard part. What the Code requires in the years after registration is where companies come unstuck.