Foundations are in Thailand to promote the objectives of public charities, religion, art, science, literature, education or other public interest. However, the Foundation’s work begin to be registered with the Thai government. Therefore, the basis of the regulations by the Ministry of the Interior must be determined. Once the requirements are fulfilled, the basis may then apply for certification.
Requirements: A foundation must be in accordance with the Interior Ministry’s instructions are structured. Therefore, the following provisions apply.
. 1) Identify requirements: First, the name should not be too similar to any existing foundation is (the similarity is determined by the local registrar review of the application). Secondly, the names of all foundations contain the word foundation. Thirdly, the name does not respect all members of the royal family, government agencies or individuals without prior consent. Fourth, the name should never give the name of the holy sites and the political parties without exception.
2) Requirements of the Bureau. Foundation office must be on private property and the location of the office.
3) Requirements goal. The foundation must be for the public interest and are not organized in the interest of individuals. It may not be a public charity, religion, art, science, literature, education or other be in the public interest.
4) asset requirements. The foundation must meet the minimum requirements of the assets. The minimum varies, but for unspecified amount of the basics that is necessary to either 500,000 baht in cash and cash equivalents 250 000 Baht with other available assets.
5) requirements of the regulations. A foundation must have written rules and a board of directors of at least three people together. Regulation should list the objectives of the foundation, the structure of the board, a list of the assets at the time of founding, and how the assets are managed (more…)
November 28th, 2011
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