If you plan to appoint new members to the board or replace existing directors, changing the composition of the board will require a resolution at a shareholders' meeting. To do this, follow these steps:
To change the director of the company, follow these steps:
The company publishes an announcement of the change of director in a local newspaper (since February 2023, only for companies with bearer shares) and sends a letter of invitation to a shareholders' meeting. According to Thai law, the company must send a letter of invitation to shareholders regarding the change of director. The letter must be sent by local mail (with a notice of delivery) to shareholders and published in local newspapers. This process must be completed within 7 days.
The company prepares the application forms, and the director will be asked to sign these documents. If the director is abroad, he/she must come to Thailand to sign the registration form with a copy of the passport and the date of arrival. Thus, the signing must take place in Thailand.
The company must submit the change of director form to the Department of Business Development (DBD). On the same day, the company must submit an amended business affidavit form indicating the current board members.
The company must file an application with the government to register the change of director and change of director's credentials within 14 days of the change. The required paperwork includes the name of the retiring director, as well as the name, address, and a copy of the new director's passport. It is also necessary to indicate changes in the director(s) authority to sign documents.
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