Phuket Legal Firm

Company Dissolution & Liquidation

Closing a Thai company involves more than stopping business operations. Corporate, accounting, tax, creditor, employee and registration procedures may need to be completed before liquidation is finished.

Dissolution Is Not Completion

A company that has registered dissolution has not necessarily completed liquidation. The company generally continues for liquidation purposes until the necessary process is completed.

Liquidator

The liquidator may collect assets, deal with liabilities, coordinate accounting and tax, handle filings and distribute remaining assets where legally appropriate.

Accounting & Tax

Accounting obligations do not necessarily stop on dissolution. Financial statements, tax filings, VAT matters and supporting records may remain necessary.

Employees & Foreign Staff

Termination, payroll, social security, work permits and immigration status should be coordinated.

Assets & Cash

Do not simply withdraw or distribute all remaining cash at the start of liquidation. Obligations, liquidation expenses and proper accounting treatment should be identified first.

Delayed Liquidation

Incomplete accounts, unexplained cash, outstanding receivables, assets, tax issues, creditors, shareholder balances or missing documents may delay completion.