Foundation in Thailand

A foundation is a non-profit charitable organization that will donate funds to public charity, religious, art, scientific, education or other purposes for the public benefit and not for sharing profits, Sec 110 Civil and Commercial Code).

Requirements:

  • Firstly the total assets of a Foundation in Thailand must be of 500,000 baht, with a minimum of 250,000 baht in cash. Entities with certain charitable objectives are allowed to have assets of 250,000 baht, and 100,000 baht in cash.
  • The Board of Director must consist of at least 3 people (at least one must be Thai) who are going to conduct the businesses of the entity according to its regulations. (The Board of directors can not be composed by Juristic persons.)
  • A foundation must be established solely for non-profit purpose and for purposes of charity, arts, science, literature, education, or any other purpose intended to benefit the public.
  • Also The foundation must be a self sustainable business, with enough assets to operate.
  • The foundation has to be registered in the jurisdiction in which its headquarters will be located and where it operates.

Foundation application procedure:

The Application to register a Foundation must be submitted at the local district office of the Foundation’s headquarters.

Documents required:

  • List of assets of the owners.
  • List of allocated assets for the organization and registered document indicating the promise to donate these assets.
  • Copy of testament if any.
  • Name, address, and work profile of all the members of the board of directors in the foundation.
  • As well as Rules and Regulations of the Foundation

Foundation rules and regulations:

  • Copy of ID card or other types of Identification cards issued by the government and copy of the house registration of the owners and members of the board of directors (if he is a priest or a foreigner, other documents reflecting his status and address would suffice)
  • Map of the main office and its branch offices (if any) and the written consent of the landlord or owner of these properties.
  • Lastly the Minutes of the meeting of the Foundation’s establishment.

Timeframe:

  • Generally the entire application process may take up to one year. Then the Ministry of Interior’s decision will notify the final decision . Once approved, the organization will be registered.  After the issuance of the registration certificate, the organization can start operating.
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