Corporate Secretarial Services in Bangkok
Change of Business Objectives
A company’s list of objectives outlines the activities that a company can do under its structure. When applying for a new license or when looking to expand or change its current business activities, a company may need to amend its list of business objectives.
When would a company register a change of objectives, and what does the process entail?
In response to market circumstances and client demands, it is typical for a business to make changes to its offered services over time. This may then involve completing changes to its list of business objectives.
To register a change in company objectives, a shareholders’ meeting must be conducted after giving notice to all shareholders to pass a special resolution for altering the Memorandum of Association of the company. This can be done by sending a notice to the shareholders by mail and publishing it in a local newspaper at least once with no less than 14 days’ notice before the meeting date.
The agenda of the meeting should also be specific to amending the objectives of the company. During the meeting, the majority of the votes should be in favour of the new objectives (not less than three-fourths of the total number of votes of shareholders). After the meeting, documents can be prepared to apply for the set up of the new objectives and/or removal of certain existing objectives with the various government bodies that may need to be notified.
These documents include but are not limited to the company affidavit, objectives that need to be added or revised, a copy of the authorised director’s ID card, and a power of attorney in the event that the authorised director(s) are unable to be present at the government office(s) to register the changes by themselves.
At Umpire Legal, we understand the complexities of registering the change of company objectives and the importance of ensuring that the process is conducted in compliance with local laws and regulations. Our team of experienced lawyers would be pleased to assist you with every step of the process, from the required newspaper announcement calling for a meeting of shareholders to registering the changes with the appropriate government offices.
By engaging our services, you can rest assured that the change of company objectives will be handled by an experienced team of individuals, giving you peace of mind as you focus on your primary business activities. Contact us today to learn more about how we can assist you in registering a change of business objectives for your Thai company.