The Thai Civil and Commercial Code Amendment Act (“Act”) alters the requirements on corporate governance and the constitution of private companies. The Act is effective from February 16, 2023. The main changes are as follows: Minimum number of shareholders The minimum number of persons to establish a private limited company(“Promoters”) is reduced from three to…
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A major challenge for foreign investors is maintaining proper governance of their Chinese limited liability company and generating a profitable business. Whilst there are significant improvements in the business environment, including regulatory reforms to streamline administrative procedures, investors, especially those residing abroad, face challenges in establishing the proper corporate governance and ensuring the Chinese subsidiary…
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Shareholders may wish to amend the share structure of their subsidiary in China for several reasons. Specifically, the existing share proportion between shareholders can be amended or ownership of shares can be transferred to an existing shareholder or third party (non-shareholder). In China, any changes to the share structure shall be filed at the Administration…
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