The Order of the Central Partnership and Company Registration Office No. 205/2556 Re: Rules and Supporting Documents of Application for the Registration of Incorporation of a limited partnership or a limited company in the case of having foreign participations in investment, or having foreigners to be authorized to sign to bind a limited partnership or a limited company, issued on 22 November 2012 came into effect as from 2 January 2013.
If a limited partnership or limited company has the following:
(1) foreign partner(s), or foreign shareholder(s) in a limited liability partnership or limited liability company investing in or holding less than 50% * of its investment or share capital; or
(2) if a limited liability company does not have any foreign shareholders BUT it has foreign director(s) to act as the authorized director(s) to sign to bind a limited company, then a confirmation letter issued by a bank, to certify or show the financial status of the Thai partners or the Thai shareholder(s) is required to be filed with the Registrar of the Companies, as one of the supporting documents submitted with the application for incorporation of a limited partnership or limited company.
In addition, the said bank confirmation letter must show the Thai partners / Thai shareholders have sufficient funds deposited with the bank that is not less than the amount of money which is the amount of the investment or the subscription price for the shares that is to be paid by such Thai partner(s) or Thai shareholder(s).
It should be noted that the above is required ONLY for an application for the registration of incorporation. It is not yet applicable for an application for the registration of a capital increase.
* Special permission must be sought in most cases if a foreign partner or a foreign shareholder holds 50% or more of the investment capital or shares of a limited liability partnership or a limited liability company that undertakes business activities in Thailand.