). At each dividend distribution, private andpublic limited companies must allocate at least 5% of aftertaxprofits to a reserve fund until thefund reaches 10% of registered capital.Founders, shareholders. Private limited company: At least three founders (promoters) andshareholders are required. The promoters must be individuals (Thai or foreign) and each foundermust subscribe for at least one share of the company (the shares held by promoters may betransferred after incorporation). Public limited company: A minimum of 15 promoters is required toincorporate. No nationality restrictions apply, but more than half of the promoters must reside inThailand. Promoters must subscribe to not less than 5% of the registered capital in the form of fullypaidupshares. Not less than 50% of the number of shares specified in the memorandum ofassociation must be offered to the public. All promoters must hold their
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