There has been a general change in the Thai regulatory environment where regulations that had not been consistently enforced in the past are now starting to be enforced on a more regular basis. A good example of this change has occurred with respect to the penalties that apply to Thai limited companies and their directors for failing to hold their annual general meeting of shareholders (AGM) or file their annual financial statements within the prescribed time periods.
As discussed in more detail here , Thai private limited companies are required to hold an AGM each year within four months following the company’s fiscal year end. Within one month following the AGM, Thai limited companies are also required to file audited financial statements along with an updated list of shareholders (BOJ 5) with the Thai Ministry of Commerce (MOC). For more information, please click here.