New MOC’s Requirements for e-Registration
As part of its efforts to streamline the electronic system for corporate registration (e-Registration) to improve Thailand’s ranking in World Bank’s Ease of Doing Business program, the Department of Business Development (the DBD) of the Ministry of Commerce, has recently issued an announcement setting out the process for users of the e-Registration to apply for username and password, i.e. the Announcement on Criteria and Procedures to Apply for Username and Password and Process for Verification of User’s Identity for e-Registration, B.E. 2560 (2017) (the Announcement).
The DBD will use the e-Registration as a platform to provide full electronic services for corporate registrations and filings, from incorporation, amendments to corporate particulars, to dissolution and liquidation. This is in addition to the various electronic services that the DBD already provides, e.g. filing of financial statements via online system (e-Filing) and provision of online information of juristic entities (DBD e-Service).
The Announcement requires individuals who will be signing documents on behalf of juristic entities (e.g. directors) to file an application with the DBD to obtain username and password and verify their identity in order to use the e-Registration. The DBD will start accepting the applications for the username and password from 20 March 2017 onwards, with the aim to fully implement the e-Registration in mid-April 2017. We are monitoring the authority’s practice in this regard and will keep you posted of significant developments of this new application process.
Although the Announcement sets out the process for the application for username and password, various questions remain regarding the implementation of the e-Registration. We highlight below some of the key points:
- When the e-Registration is implemented, will there be a transitional period for the use of the current paper registration system?
- What are the steps and requirements for registering corporate particulars via the e-Registration, e.g. how to submit application documents, pay official fees, and obtain corporate documents reflecting the registration?
We anticipate that the DBD will be issuing supporting regulations for the e-Registration in due course. We will continue to monitor the new requirements and keep you updated.