Dissolution and Liquidation

When a business ceases operations, company dissolution and liquidation registration is a legal process required to formally terminate the company’s legal status.

🧾Main steps in the process:

1. Registering the company dissolution with the Department of Business Development (DBD)

   • Hold a shareholders’ (or partners’) meeting to pass a special resolution to dissolve the company and appoint a liquidator.

   • The liquidator must register the dissolution with the DBD within 14 days from the date of the resolution.

   • Publish a notice of dissolution in a local newspaper at least once and notify all creditors by registered mail (if any) within 14 days from the dissolution date.

   • If the company is registered for VAT, it must file the termination of VAT registration with the Revenue Department within 15 days from the dissolution registration date.

2. Liquidation process — accounting and financial closure

   • The liquidator must collect company assets, settle liabilities, pay expenses, and complete all pending matters.

   • Prepare financial statements as of the dissolution date, and file the final corporate income tax return within 150 days from the dissolution registration date. Notify the Revenue Department and Social Security Office of the business termination.

   • If liquidation is not completed within one year (or every three months if ongoing), the liquidator must submit a liquidation progress report (Form LCH.3) to the DBD.

   • Settle all outstanding tax obligations with the Revenue Department to ensure the company’s tax records are fully cleared.

   • Prepare the final financial statements for the liquidation period and submit them to a certified auditor for review and verification.

3. Registering completion of liquidation

   • Once liquidation is complete, the liquidator must prepare a final liquidation report and hold a shareholders’ meeting to approve it.

   • After approval, the liquidator must register the completion of liquidation with the DBD within 14 days from the date of approval.

🏢 Main government agencies involved:

• Department of Business Development (DBD): For dissolution and completion of liquidation registration

• Revenue Department: For tax filing and termination of VAT/business operations

• Social Security Office: For terminating employer status

💡The entire process is quite complex and time-sensitive, requiring accurate documentation and financial reporting.

Registering a company is hard — dissolving it is even harder!

📌✅ Starting price: 15,000 THB (for final accounting period with no transactions)