- Knowledge
1、 ThailandTypes of companies
2、 Core Requirements for Thai Company Registration
01. Shareholders and Directors
Shareholders: At least 3 people (can be natural persons or companies), and foreign-funded companies must comply with industry restrictions under the Foreign Business Operation Law (FBA).
Directors: At least one Thai director (for private limited companies), and at least five directors are required for public companies.
02. Registered capital
Private Limited Company: Minimum 3 million Thai Baht (Foreign investment must be ≥ 2 million Thai Baht, and one foreign work permit can be applied for every 2 million Thai Baht).
Paid in requirement: At least 25% of the registered capital must be in place at the time of registration.
03. Registered address
Actual office address in Thailand (lease agreement or property ownership certificate) is required, virtual address is limited to representative office only.
04. Industry Access
Restricting foreign investment in industries such as media, agriculture, and retail requires applying for a Foreign Business License (FBL) or obtaining exemptions through BOI.
3、 Thai company registration materials
（1） Shareholder Documents
-Copy of passport/ID card (foreign shareholders need to have it notarized and authenticated by Thai embassies abroad)
-Proof of address (within the past 3 months)
（2） Company Articles of Association
Thai version of the articles of association (including company name, capital, business scope, etc.), notarized and signed by shareholders
（3） Proof of Registered Address
The lease agreement (with a copy of the landlord's ID card attached) or property ownership certificate must be translated into Thai and authenticated by the land bureau.
（4） Certificate of Registered Capital
Proof of paid in capital deposit issued by the bank (at least 25%)
（5） BOI application documents
Investment plan, Environmental Impact Assessment (EIA), Technology Transfer Agreement (if applicable)
4、 Thai company registration process
Step 1: Approval of company name (3 working days)
Submit 3 alternative names to the Ministry of Commerce (DBD) for a naming fee of 1000 Thai baht.
Step 2: Draft the company's articles of association (1 week)
Drafted by a Thai lawyer or notary public, specifying the equity structure, business scope, etc.
Step 3: Convene a shareholders' meeting (1 day)
Sign the articles of association, appoint directors, and pass the company registration resolution.
Step 4: Submit to the Trademark Department for registration (2-4 weeks)
Submit materials through the DBD electronic system and obtain the "Certificate of Company Registration" after approval.
Step 5: Tax and Social Security Registration (1 week)
Apply to the tax bureau for a tax identification number (TIN) and a value-added tax number (VAT), with an annual income of ≥ 1.8 million Thai baht requiring registration.
Register employee information with the social security bureau (if the number of employees is ≥ 1, they need to be insured).
5、 Precautions for Thai company registration
1. Industry compliance
Avoid industries listed in List B (foreign investment prohibited) and List C (requiring FBL license) of the Foreign Business Operation Law, such as tourism and food processing.
2. BOI preferential policies
Applying for the Board of Investment (BOI) certification in Thailand can enjoy corporate income tax exemptions (3-8 years), 100% foreign ownership, land ownership, and other benefits.
3. Proportion of local employees
For every foreign employee hired, at least 4 Thai employees must be hired (BOI companies are exempt from this requirement).
4. Annual review and report
Submit financial statements to the Ministry of Commerce annually, with a maximum penalty of 50000 Thai baht for overdue payments.
6、 Common Problems in Thai Company Registration
Can foreign investment fully hold a company in Thailand?
Sure, but one of the following conditions must be met:
Apply for BOI investment discount
Registered capital ≥ 2 million Thai baht and business not on FBA restricted list
Establishing a company through the Amity Treaty between the United States and Thailand (limited to US companies only)
How long does it take to register?
Ordinary company: 2-3 months
BOI certification company: 4-6 months (including approval time)
What is the minimum registered capital?
Private Limited Company: 3 million Thai Baht (2 million Thai Baht required for full foreign investment)
Representative Office: 2 million Thai baht
Do we need Thai directors?
Private limited companies require at least one Thai director, while public companies require at least five directors (including foreign directors).
What are the restrictions on profit remittance?
A 10% withholding tax is required (if bilateral tax treaties allow for a reduction) and proof of tax payment must be provided.
