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Public Company formation can be done by gathering minimum of 3 founders (As of July 2008, the law has been deregulated, with number of minimum founders to be decreased from 7 to 3). The foreign-owned businesses in Thailand are often established in Public Company format.
Whilst establishing a Public Company, it is not required to prove the capital fund under Thai law. However, with law regarding to foreign intervention in Thailand, foreign business can only hold a share of up to 49%; therefore unless the case has been approved by Board of Investment (BOI), rest of 51% must be capitalised by Thai investor. |