Jul 10, 2016

Single-person company formation will be allowed in Thailand

Thailand Ministry of Commerce is about to submit a draft act on establishment of single-person company to the Thai cabinet for consideration.
After the cabinet approves, the draft act would go to the Council of State (Krisdika commission), and then to the parliament. It is expected to become law before the end of this year, 2016.
This is aimed to facilitate easier establishment of new SME and help them access to funds. Only
Thai nationals will be allowed to file for setting up single-person companies and measures will be set up to prevent against nominees of foreigners. The Ministry hope to double the number of registered companies to 1.2 million within 2 years after the law is passed.

There are 12 other countries which allow formations of single-person companies.

Ref: Manager (in Thai)