Mazars in Thailand has announced that it will be expanding its consulting services to assist companies looking to change their Articles of Association (“AoA”) in order to take advantage of the recently amended Civil and Commercial Code (“CCC”). The changes to the CCC have relaxed previous restrictions, making it easier for businesses to engage in mergers and acquisitions to support their growth.
The updated CCC has been in effect since 7 February 2023. The new regulations enable businesses to implement their growth plans more efficiently, quickly, and at lower cost than previously.
Mazars in Thailand recognises the importance of providing expert advice to organisations looking to adapt to the changing legal landscape. Through its consulting services, it can help companies understand the implications of the new regulations and make any necessary changes to their AoA to ensure compliance with the CCC.
Mr. Chatchawat Kriengsuntikul, Legal Partner of Mazars in Thailand, said that the newly amended CCC in Thailand allows for registered companies to operate their businesses easily and more efficiently. This is achieved through various amendments, such as reducing the number of founders and shareholders, simplifying the process of shareholders’ meetings, introducing e-meetings, reducing the overall complexity of business operations, and making it easier for companies to merge and acquire other companies. These changes are in line with the growth of M&A in the country.
“The CCC will be highly beneficial for investors, as the relaxed regulations will make it easier to start and operate a company in Thailand, with fewer legal requirements and a simplified process. Registered companies should revise their AoA in accordance with the new amendments to take full advantage of the opportunities provided.”
Thailand’s amended CCC is set to provide significant benefits for registered companies looking to do business in the country, with the introduction of streamlined processes and reduced costs.
The amended CCC marks a significant step forward for businesses in Thailand, supporting growth and innovation in the region. Companies are encouraged to take advantage of the new regulations and continue driving progress in the Thai business landscape.
Mazars is an internationally integrated partnership, specializing in auditing, accountancy, advisory, tax, and legal services. Operating in over 95 countries and territories around the world, we draw on the expertise of more than 47,000 professionals – 30,000+ in Mazars’ integrated partnership and 17,000+ via the Mazars North America Alliance – to assist clients of all sizes at every stage of their development. More information can be found at www.mazars.com
About Mazars in Thailand:
Mazars in Thailand is a leading, accounting, audit, tax, legal, and financial advisory practice comprised of over 350 professionals. The practice has Thai, British, Dutch, Indian, German, Japanese, Australian, Vietnamese, and Korean nationals among its senior advisers, which ensures that the company is well placed to function as a bridge between businesses operating in Thailand and related companies overseas.
For more information, visit www.mazars.co.th.