One of our director and shareholder just pass away (died) this month. This Thai company has 1 director and 3 shareholders. Can you change that director and shareholder out of this company? What is the process?
Panwa: when the company has to change the director, you need to notify all shareholders and director by set up the Extra Ordinary Meeting, but in your case, we understood that your company still remain 2 shareholders then can appoint one of the shareholder to become the Chairman for meeting and appoint the new director and shareholder, follow the process as below;
- Step 1. The Thai shareholder invite the relatives of the director who died such as the son or daughter, parents, brothers, sisters or any direct lineage to meeting for the appointment of the new director(s).
- Step 2. After finished meeting, you need to prepare the Minute of Meeting document and all the persons who attended the meeting must Certify the meeting and attach the Death Certificate of the director and the copy of Thai ID card or passport of the new director.
- Step 3. Prepare the registration form and let the new director sign in the form and after, register at Department of Business Development (DBD) within 14 days after the meeting date.