Belaws Home ›› Thailand ›› Comptabilité et Administratif ›› Annual General Meetings
Comptabilité et Administratif
Annual General Meetings in Thailand
A limited company in Thailand must hold an Annual General Meeting (‘AGM’) within 4 months of the fiscal year ending. Failure to do so could result in fines being imposed on the company.
Why are AGMs important in Thailand?
AGMs are important as they are used to review and approve the audited financial statements and other matters as required by law (such as the rotation of directors). The meeting is also used to discuss anything as stipulated in the Articles of Association (‘AoA’).
In order to arrange the AGM the company must follow a specific protocol. Firstly, the Board of Directors must issue a notice letter calling the AGM at least 7 days prior to the meeting date. This notice letter must be published in a local newspaper and sent by registered mail or by hand to all eligible shareholders i.e. those whose names are listed on the register of shareholders.
Pricing
FROM
THB 10,000 *
+ 7% VAT
20 Business days
(Average time from the moment we receive
all the required information from you)
Work handled by a corporate expert.Scope of work
- Arrange all aspects on the AGM including publicising and sending out the invitations for the AGM
- Attend the AGM and prepare the draft minutes.
- Edit and proofread the final draft of the minutes and submit it to the company.
- Answering questions in relation to the AGM process.
- Advising you on the future duties to ensure a smooth business operation.
Need more?
Additional services that you may need
What is the process for an AGM?
Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.
Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.
Arranging the AGM
Our experts can assist you calling, managing, and drafting the minutes for the AGM. Our expert will also collect the following required documents during the AGM: Director’s report and the audited financial statement and accounts for the company.
TIMELINE
Approx14 business days
- 1-2 day to propose and confirm the date for the AGM.
- 1 day for making an announcement of the AGM in a local Thai newspaper and distributing the invitations by registered mail (no less than 7 days prior to the meeting).
- At least 7 days waiting period for the shareholders meeting to be held after publication in the newspaper.
Filling the documents at the Department of Business Development on behalf of the company
Our expert will assist with the preparation and submission of all legally required documents at the Department of Business within 1 month of the AGM.
The required documents are as follows: Sor.Bor.Chor 3 & 3/1 & the company’s financial statement; updated list of all shareholders (correct as of the date of the AGM) and the original copy of the company’s audited financial statement.
TIMELINE
Approx. 6 days days
- 1 day for the submission
- 5 working days for the approval (due to Covid)
Drafting the final version
Our experts will then edit and proofread all the minutes taken during the meeting to assure the highest quality. The final version of the minutes and any other reports will be submitted to the company.
TIMELINE
One day for filing the application x day for receiving the approval letter
Post-registration requirements
Our experts can assist you with any necessary areas to ensure the smooth and efficient operation of your business.
- EGM Meetings
- Share transfers
- Change of Directors
- Raising company capital
- Drafting meeting minutes
TIMELINE
One day for filing the application x day for receiving the approval letter
Frequently asked questions
Does my company have to hold an AGM?
AGMs are a legal requirement as stated by the Thai Civil and Commercial Code, all companies are required to hold an Annual General Meeting of the shareholders (AGM). The meeting must be held within 4 months from the financial year-end( by the end of April each year).
What happens if my company does not hold an AGM?
Failure to hold the AGM or for failure to hold the meeting within the required timeframe (4 months after the end of its fiscal year) could result in the company being fined up to THB 20,000.
Explore other Services
Question Before You Begin? *
Question Before You Begin? *
Speak to our expert by scheduling afree call on how to set up a Retirement Visa in Thailand with Belaws.
(*) This Conversation is intended to provide basic answers to questions you may have. But it is not a Lawyer’s Consultation.
The last 3 posts of our blog
Belaws Thailand
What is the current scope of regulations relating to Blockchain in Thailand today?
Thailand was one of the very first countries to regulate blockchain, how does the legislation look today?
Buying real estate in Thailand with crypto-currencies
Is it possible to use your crypto to buy a property in Thailand? In theory, yes, but in practice it depends.
Why choose Belaws?
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed quis dui finibus, feugiat tellus suscipit, eleifend ante. Lorem ipsum dolor sit amet, consectetur adipiscing elit.