DBD to remove 11,234 entities from register on August 19

Matichon•Economy•19d ago

Reader Briefing

The Department of Business Development will remove 11,234 legal entities based in Bangkok from the register due to financial reporting failures or incomplete liquidation.

•The Department of Business Development will announce a list of 11,234 entities to be struck off on August 19.
•8,446 entities failed to submit financial statements for three consecutive years.
•2,788 entities failed to complete liquidation procedures within three years of registration.
•Affected entities have 90 days from the announcement date to submit explanations to the registrar.

Overview

•The Department of Business Development is preparing two announcements from the Bangkok Partnership and Company Registrar to strike 11,234 entities from the register.
•8,446 entities are being targeted for not submitting financial statements for three consecutive years, leading to belief they are no longer operating.
•2,788 entities are being targeted for not completing liquidation reports or registrations within three years of registration for dissolution.
•The Department of Business Development will announce the names of these entities via the website www.dbd.go.th on August 19.
•Entities on the list may submit explanations to the registrar within 90 days of the announcement to avoid being struck off and losing legal status.
•Once an entity's status is changed to dormant, it can no longer perform legal acts, though the liabilities of managers, partners, directors, and shareholders remain.
•Entities may request the court to restore them to the register within 10 years after being struck off by the registrar.
•Pun Poonpong Naiyanapakorn stated that updating the database of inactive entities helps cut the cycle of fraudsters using inactive company data to deceive the public.

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Key Entities

Person

Punpong Naiyanapakorn(พูนพงษ์ นัยนาภากรณ์)

Director General of the Department of Business Development, Ministry of Commerce.

Organization

Department of Business Development(กรมพัฒนาธุรกิจการค้า)

An agency under the Ministry of Commerce responsible for the registration of businesses and legal entities.

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

The ministry overseeing the Department of Business Development.

Bangkok Partnership and Company Registrar Office(สำนักงานทะเบียนหุ้นส่วนบริษัทกรุงเทพมหานคร)

The office issuing the announcements regarding the removal of legal entities in Bangkok.

Place

Bangkok(กรุงเทพมหานคร)ℹ️

The location where the 11,234 targeted legal entities have their head offices.