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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The Revised Draft of the Company Law of the People's Republic of China ("Revised Draft") marks a significant chapter for corporate law. Promulgated on 20 December 2021 by the Standing Committee of the 13th National People's Congress, the Revised Draft amends 70 articles. Enacted in 1993, the Company Law has been revised several times with…
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