Requirements for the establishment of the Thai Foundation
Thailand's Foundations are designed to reach state charity organizations, religion, arts, sciences, literature, education, or any other public interest goals. However, to start your work, a foundation must be registered with the Thai government. Therefore, the Foundation must abide by the rules set by the Ministry of the Interior. Once the requirements have been met, the foundation can then apply for a certificate.
Requirements: The foundation must be formulated in accordance with the instructions of the Ministry of the Interior. Therefore, the following requirements apply
1. Entry Requirements: First, the name can not be too similar to any existing base (similarity is determined by the local registrar). Secondly, the foundations' names should include the word foundation. Thirdly, the name can not rely on any member of the royal family, governmental bodies or private individuals without prior consent. Fourthly, the name should never use the names of holy places or political parties without exception.
2.) Office Requirements: The Foundation's office must be privately owned and office locations.
3.) Objective: The Foundation should be organized in the public interest rather than on individuals' private interest. Only public charity organizations, religion, works, sciences, literature, education or any other public interest can serve.
4.) Device Requirement: The foundation must meet the minimum claim requirement. The minimum variable, but for unspecified foundations, the amount required is 500,000 baht in cash or 250,000 baht cash and other available assets.
5.) Requirements of the Decree: The foundation must have written rules and a Management Board of at least three members. Legislation should include the objectives of the foundations, the structure of the board of directors, assets at the time of asset management, and how the assets are managed.
Process After the Foundation is satisfied that the above requirements meet the tender process. The official application can be purchased for ten forints in the Ministry of the Interior or at a number of local offices. The application must be filled in accordingly and sent to the local office (only the local registrar of the headquarters of the foundation). The application must then be submitted with further documentation. This documentation includes:
1. List of assets available to the Foundation
2.) The list of assets allocated to the Foundation and the documents registered with the assets may be donated to the goals set by the Foundation. If inheritance has been donated to the Foundation, a copy of the will will also be required
3.) List of members of the Management Board, including their names, titles and professions
4.) Copy of the Foundation's Rules
5.) Government certificates of the Foundation's holders or foreign nationals or priests are sufficient for comparable identification
6.) Map of the main office and branch offices that can exist and check whether the offices are under the control of the foundation. The written testimony of the lessor or owner satisfies this requirement
7.) The meeting was recorded at the foundation's creation. This is a written record of the record or record or a direct recording.
Materials will be evaluated and the review officer will also check whether there is an existing foundation with a similar name. If the officer suspects the methods or objectives of the Foundation, the request will be sent to the National Council for Cultural Affairs for review. If the registration officer or the Council approves the application, the foundation must issue a registration certificate that will allow Thailand to operate inside.
Conclusion: Thai foundations only serve for philanthropic purposes. For this reason, the Thai Government can protect the issue of foundation certificates. It is therefore imperative to meet all the requirements outlined by the government and to have all the necessary documentation to confirm that these requirements have been met. Without such diligence, the process will be complicated and certification can be cumbersome.