3. Types of Business Organizations
Thailand recognizes 3 types of business organizations: partnerships, limited companies and joint ventures.
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. Ordinary partners may contribute money, other property, or labor to the partnership. These partnerships may be registered or unregistered. 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. Types of Business OrganizationsThailand recognizes 3 types of business organizations: partnerships, limited companies and joint ventures. 3.1 PartnershipsAccording 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 PartnershipsIn an ordinary partnership, all the partners are jointly and wholly liable for all obligations of the partnership. Ordinary partners may contribute money, other property, or labor to the partnership. These partnerships may be registered or unregistered. 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.
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