Appointed Minimum Capital and period of time
Sending Minimum Capital to Thailand 2002
Alluding to section 14 and section 46 of Alien Business Act B.E. 1999, legislated the limited rights and freedom which section 29, section 35 and section 50 of Thai Constitution gave permission by legal. The Commercial Minister issued the regulation as follows :
The alien must start business in Thailand with the minimum capital at 2,000,000 Baht according to section 14 paragraph 1.
The alien must start business in Thailand with minimum capital which must not less than 25% of the annual estimate expense for each business for 3 years, but all of them must be at least 3,000,000 Baht for each business.
In case the business performance is less than 3 years, allow to average by years of business as rule, and all of them must be at least 3,000,000 Baht.
The estimate expense according to paragraph 1 means the money in total amount that the alien will spend in Thailand to run the business in order to get the fix assets and for business using as expense during the year.
The alien is an individual or juristic person did not register in Thailand, must send or get the foreign money to Thailand for minimum capital with complete amount according to clause 1 or clause 2, depend on situation within 3 years commence from the date started the business according to section 14 paragraph 1 or date received permission according to section 14 paragraph 2. During the first 3 months, must send or get not less than 20% of the minimum capital and must complete 50% within 1 year, for the rest, must send or get not less than 25% each year.
In case the business performance does not reach 3 years, must send or get the minimum capital within 6 months from the date started the business according to section 14 paragraph 1 or date of permission according to section 14 paragraph 2.
The alien need to show the evidence of sending or getting the minimum capital to Thailand and calculation of exchange foreign money to Thai Baht by using the exchange rate on the date of sending or getting the minimum capital to Thailand as rule, submit to the Domestic Commercial Development Division within 15 days from the sending or getting date of the minimum capital to Thailand.
Issued on 20 October 2002.
Signature of Mr. Adisorn Photharamik
The Commercial Minister