3.1    Partnerships

According to the Civil and Commercial Code (CCC), the partnerships can be divided into 2 types:
(1)    Ordinary Partnerships
(2)    Limited Partnerships

3.1.1    Ordinary Partnerships

In an ordinary partnership, all the partners are jointly and wholly liable for all obligations of the partnership. An ordinary partnership may or may not register as a juristic person. Therefore, an ordinary partnership can be divided into 2 types:
(1)    Non-registered Ordinary Partnership – has no status as a juristic person and is treated, for tax purposes, as an individual.
(2)    Registered Ordinary Partnership – is registered with the Commercial Registrar as a juristic person and is taxed as a corporate entity.

3.1.2    Limited Partnerships

The limited partnerships must have 2 kinds of partners as follows:
(1)    One or more partners whose individual liability is limited to the amount of capital contributed to the partnership, and
(2)    One or more partners who are jointly and unlimitedly liable for all the obligations of the partnership.

The limited partnerships must be registered and are taxed as a corporate entity.

3.1.3    Partnership Registration

When two or more people agree to invest in one of the aforementioned types of partnership, the appointed managing partner is responsible for registering the partnership with the commercial registration office of the province that the head office of the partnership is located in. The limited partnerships must be only managed by a partner with unlimited liability. The fee for registering a partnership is 100 baht per 100,000 baht of registered capital. A fraction of 100,000 baht is regarded as 100,000 baht. The minimum fee is 1,000 baht and the maximum fee is 5,000 baht.

Updated 27 September 2011

Data Verified by Seri Manop & Doyle Ltd.