Today, we talk about the first step of the company registration process, the corporate name reservation.
To reserve a name, the company can either submit a signed Name Reservation Form (one of the promoters is required to sign in such form) to the Department of Business Development of the MOC or fill in a Name Reservation Form and submit it through the Department of Business Development’s website.
The promoter is required to provide the requested company name together with two alternative names. The registrar will then examine the application in order to ensure that:
(a) No similar company name have previously been reserved; and
(b) The names do not violate any ministerial rules
If the applicant’s preferred name is in conflict with either of the above, that name will be rejected and the registrar will consider the two alternative names submitted. This process can normally be completed within 2 to 3 working days. If all three names submitted are rejected, the applicant will be required to re submit the form with 3 new names.
The registrar has considerable discretion with regard to the matter of company names. Oftentimes, the first name or even the first two names are rejected due to the violation of one of the two rules stated above. Once the name is approved, the corporate name reservation is valid for 30 days, with no extensions. However, after the name has expired, the promoter can still re apply for Name Reservation again and again if the name is still available.
We will talk about the next steps of the company registration process in the succeeding articles. Contact ThaiLawyers for company registration in Thailand.