Modernizing Business: The DBD’s Digital Registration System
The Thai Department of Business Development (“DBD”), Ministry of Commerce aims to promote a brand new business registration system for partnership and company registration in order to facilitate entrepreneurs in starting and operating businesses by launching the DBD Biz Regist system, which provides online services of partnership and company registration for ease of operating businesses in Thailand.
Recently, a draft Rule of Office of the Central Company and Partnership Registration on the Partnership and Company Registration via the Digital Juristic Person Registration System (DBD Biz Regist) B.E. …. (“Draft Rule”) has been proposed to revoke the Rule of Office of the Central Company and Partnership Registration on the Partnership and Company Registration via the Digital Juristic Person Registration System (e-registration) B.E. 2564 (2021) and B.E. 2566 (2023) in order to support the new digital juristic person registration system which will replace the current electronic juristic person registration system.
The DBD Biz Regist would reduce difficulties and expenses for entrepreneurs and agents that may occur for corporate transactions. However, after submitting the documents via DBD Biz Regist, it will take approximately 3-5 days for the DBD’s officer to review and approve such application whereas registering in person at the DBD’s office will be completed on the submission’s date unless the application contains complex issues.
The Draft Rule is under public hearing until 15 April 2024. Once the Draft Rule is approved by the Director-General of DBD and becomes enforced, it could attract investors to invest and operate businesses in Thailand, enhance Thailand’s ranking on the World Bank’s Ease of Doing Business, and boosting the local economy.
Author: Panisa Suwanmatajarn, Managing Partner.
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