In a recent announcement, the Department of Employment has introduced new regulations concerning the registration capital necessary for companies seeking authorization to employ foreign workers in Thailand. This directive, enacted under the authority granted by Article 27(1) of the Management of Foreign Workers Employment Act B.E. 2560, signifies a pivotal development in the country’s labor management policies.
Effective from the date of its publication in the Royal Gazette, the announcement stipulates that entities intending to employ foreign workers must be registered as either limited companies or public limited companies. Furthermore, they must demonstrate a minimum registered capital and fully paid-up shares amounting to no less than one million Baht.
This requirement, underscored by its formal announcement on January 17, 2024, underscores the Department of Employment’s dedication to ensuring robust oversight of foreign labor employment practices. By instituting these capital prerequisites, the department aims to fortify compliance with existing legislation, promoting fair and lawful employment practices across industries.
Through this announcement, the Department of Employment aims to foster a regulatory environment that supports responsible and equitable employment of foreign workers while safeguarding the interests of both employers and employees alike.