When a shareholder in a family company dies, do not assume that being a relative gives someone the right to sign for or manage the company. Under sections 1599–1601 of Thailand’s Civil and Commercial Code, an estate passes to the heirs and includes the deceased person’s property, rights, duties, and liabilities, except those that are strictly personal. An heir is not liable beyond the estate received. See the Civil and Commercial Code published by the Office of the Council of State.
Start by identifying the type of business
This article concerns shares in a limited company. A partnership has different legal rights and relationships, so do not use procedures for company shares in place of reviewing the partnership agreement and applicable facts.
Documents for the estate administrator and company to review
- Share certificates or other evidence of ownership, plus a record of the shares held by the deceased.
- The company affidavit, articles of association, and latest company shareholder register.
- A will or court documents concerning appointment of an estate administrator, if available.
- Evidence of debts, guarantees, and other property included in the estate.
Ask the estate administrator and company to check how the shares appear in the estate inventory and company records. Ask the company in writing which documents it needs to update its information. Do not assume that being an heir automatically makes someone a director or an authorized signatory; those roles must be checked separately against company records and appointment documents.
Inheritance tax is separate from changing the shareholder’s name
The Revenue Department sets inheritance-tax rules based on the net value received from each deceased person and the recipient’s status. It also has valuation rules for certain types of securities. The filing obligation and share valuation depend on the facts and the date ownership was received. Review them with an accountant or tax professional. See the Revenue Department’s guidance on who may be liable for inheritance tax and valuation of inherited assets.
Scope and legal caution
This page is an initial document checklist. It does not set out how to prove heirship or register the transfer of inherited shares. The result depends on the estate documents, the company’s articles, and the facts of the case. The cited sources do not establish one registration process for every situation. Have a lawyer review the documents before filing an application or handling the shares.
The linked video is retained as an original source reference, but it discusses a different subject and is not evidence for the legal information above. Open the original video on YouTube.