Why Thailand’s Business Registration Matters
Thailand has emerged as one of Southeast Asia’s most attractive business destinations, with a clear legal framework for business registration and accessible pathways for foreign investors. The Department of Business Development (DBD) serves as Thailand’s central business registry, overseeing all company registrations, name reservations, and corporate compliance requirements.
However, navigating Thailand’s business registration landscape requires understanding critical distinctions between business structures, foreign ownership rules, and the newly implemented DBD Biz Regist digital platform. This comprehensive guide addresses every aspect of Thai business registration, equipping foreign entrepreneurs with the knowledge to establish legitimate, compliant operations efficiently.
Contents
Understanding Thailand’s Business Registration System
The Department of Business Development (DBD)
The DBD (กรมพัฒนาธุรกิจการค้า) is Thailand’s official registry for all business entities. Operating under the Ministry of Commerce, the DBD maintains the National Business Registry and enforces the Business Development Act and Company Limited Act. All company registrations, partnerships, branch offices, and representative offices must be registered through the DBD.
The DBD Biz Regist Platform: Thailand’s Digital Transformation
Effective January 1, 2026, Thailand transitions to mandatory online-only business registration through the DBD Biz Regist system. This revolutionary digital platform eliminates paper-based submissions entirely, introducing electronic identity verification, digital signatures, and 24/7 application access.
Key Implementation Timeline:
- January 16, 2025: DBD Biz Regist officially launched
- June 1, 2025: Legacy e-Registration system discontinued
- July 1, 2025: Online applications became the primary pathway; paper submissions began phase-out
- December 31, 2025: Final deadline for paper-based walk-in registrations
- January 1, 2026: Full mandatory online-only implementation
DBD Biz Regist Core Features:
- 24/7 Online Access: Complete registration without office visits or business hours restrictions
- Electronic Identity Verification: Thai nationals use ThaID or National Digital ID (NDID); foreign nationals access via DBD e-Service
- Digital Signatures: Electronic signatures comply with Thailand’s Electronic Transactions Act and accelerate approval timelines
- Real-Time Status Tracking: Monitor applications instantly via email and SMS notifications
- Immediate Certificate Issuance: Digital Certificate of Incorporation available within one business day of approval
Thai Limited Company: The Ideal Structure for Foreign Investors
What is a Thai Limited Company?
A Thai Limited Company (หจำกัด) is a private limited liability company registered under the Thai Civil and Commercial Code. This structure separates personal assets from business liabilities, making it the most secure and widely recognized business entity for both Thai and foreign operations.
Defining Characteristics:
- Limited Liability Protection: Shareholders’ personal assets remain protected; liability extends only to their share investment
- Perpetual Succession: Company existence continues beyond individual shareholders
- Transferable Shares: Ownership shares can be sold, inherited, or transferred with proper procedures
- Professional Credibility: Preferred by Thai banks, government agencies, and international partners
- Tax Efficiency: Potential for corporate tax planning and deduction opportunities
Thai Limited Company vs. Other Business Structures
Limited Company Advantages:
- Most flexible structure for foreign ownership (up to 49% without restrictions)
- Highest credibility with Thai financial institutions and government agencies
- Minimal share capital requirements when no foreign workers employed (฿100,000 typically sufficient)
- Unrestricted business activities if structured as Thai-majority company
- Access to Foreign Business License (FBL) pathways for 100% foreign ownership in restricted sectors
Branch Office:
- Simpler setup but limited liability protection
- Requires more extensive documentation and capital requirements
- Better for short-term operations or subsidiary operations of established companies
- Mandatory if parent company is a publicly listed corporation
Representative Office:
- Restricted to marketing and liaison functions only
- Cannot conduct direct sales or revenue-generating activities
- Useful for multinational corporations conducting market research
- Requires extensive documentation and DBD approval
Business Partnership (Ordinary or Limited):
- Rapid formation but full personal liability for partners
- Less credibility than limited companies
- Better for small-scale operations or joint ventures
- Shares cannot be transferred without partner consent in many cases
Foreign Ownership Rules: Navigating Thailand’s Restrictions
The Foreign Business Act (FBA) Framework
Thailand’s Foreign Business Act B.E. 2542 (1999) establishes ownership thresholds that determine whether a company receives “Thai” or “Foreign” classification. This classification profoundly impacts operational permissions, capital requirements, and employment restrictions.
The Critical Threshold:
- Companies with ≤49% foreign ownership = Treated as “Thai Companies”
- Companies with ≥50% foreign ownership = Classified as “Foreign Companies” (subject to FBA restrictions)
Foreign Company Restrictions Under the FBA
Foreign-classified companies face List 3 restrictions, which prohibit activities in numerous sectors including:
- Retail trade and distribution
- Professional services (law, accounting, engineering, architecture)
- Transportation and logistics
- Real estate brokerage
- Import trading of specific goods
- Media and publishing
- Agricultural product trading
These restrictions don’t prevent foreign ownership; rather, they require either a Foreign Business License (FBL) or alternative legal pathways for operation in restricted sectors.
Four Legal Pathways for Foreign Ownership in Restricted Sectors
1. The 49% Foreign Ownership Structure (Thai-Majority Company)
The Standard Solution for Most Foreign Investors
This is the most common structure: foreign shareholders hold 49% of ordinary shares while Thai partners hold 51%. This structure classifies the company as “Thai” under the FBA, eliminating List 3 restrictions entirely.
Advantages:
- No Foreign Business License required
- Unrestricted business activities
- Lower minimum capital requirements if no foreign workers employed
- Simpler registration process
- Full operational flexibility
Disadvantages:
- Genuine Thai partners required (no nominees accepted by authorities)
- Decision-making limited to 49% voting power unless preference shares create voting disparities
- Partner dispute risks if relationship deteriorates
- Requires documented shareholder agreements protecting foreign investor interests
How to Structure:
- Foreign shareholder(s) subscribe 49% as Ordinary Shares (one vote per share)
- Thai partner(s) subscribe 51% as Preference Shares (reduced voting rights, favorable dividends)
- Comprehensive shareholder agreement allocates management control to foreign investor despite minority shareholding
- Foreign investor appointed as managing director or majority board member
2. Board of Investment (BOI) Promotion
Fastest Track to 100% Foreign Ownership in Select Sectors
The Board of Investment promotes specific business activities deemed crucial to Thailand’s development, granting 100% foreign ownership exemptions for approved operations.
BOI-Approved Sectors Include:
- Manufacturing and assembly (particularly high-tech and clean technology)
- Software development and IT services
- Business process outsourcing (BPO)
- Tourism-related activities (hotels, resorts, attractions)
- Agricultural exports and processing
- Renewable energy projects
- Medical and wellness tourism
- Export-oriented trading companies
BOI Benefits:
- 100% Foreign Ownership approved for qualifying sectors
- Tax Holidays up to 8 years on net profits
- Import Duty Exemption on raw materials and machinery
- Relaxed Foreign Worker Ratios (typically 1:4 foreign to Thai employee ratio rather than standard limits)
- Preferred Land Ownership rights in certain cases
- Corporate Income Tax Reduction on reinvested dividends (some sectors)
- Exemptions from certain Thai regulations
Application Process:
- Submit detailed project proposal to BOI with feasibility studies
- Board review typically requires 45-90 days
- Approval issued as “BOI Promotion Certificate”
- Company registration proceeds with FBL or standard registration afterward
- BOI incentives apply from date of approval
Timeline and Costs:
- Processing: 1-3 months average
- Government fees: None for BOI approval
- Legal/consulting services: Often $2,000-5,000 USD range
- Success rate for manufacturing and IT: Approximately 70-80% of well-documented applications
3. Foreign Business License (FBL)
The Standard Route for 100% Foreign Ownership in Restricted Sectors
A Foreign Business License permits 100% foreign-owned companies to operate in restricted sectors under FBA List 3, requiring Ministry of Commerce approval and demonstrating business necessity and benefits to Thailand.
FBL Eligibility Requirements:
- Registered capital of at least ฿2,000,000 (increases based on foreign employee count)
- Demonstrated business benefits to Thailand (employment creation, technology transfer, export contribution)
- Thai director or managing director recommended (though not mandatory for all cases)
- Business plan showing Thai employment and local supply chain development
- No domestic Thai competition detriment demonstrated
FBL Application Documents:
- Detailed business plan with 3-5 year financial projections
- Proof of registered capital deposit (bank statement)
- Curriculum vitae of proposed managing director
- Articles of Association and shareholder documentation
- Market analysis demonstrating no harm to Thai businesses
- Employment plan showing Thai hiring projections
- Tax identification registration proof
FBL Processing:
- Initial application submission to Ministry of Commerce, Department of Commercial Registration
- Application review period: 60-120 days
- Ministry may request clarifications or additional documentation
- Approval issued as Foreign Business License Certificate
- License validity: Typically 3-10 years depending on sector and circumstances
- Renewal required before expiration
Timeline and Costs:
- Total process: 4-6 months average
- Government fees: ฿2,000-20,000 (varies by business classification)
- Legal/consulting services: ฿20,000-50,000 ($600-1,500 USD)
- Annual reporting requirements and compliance costs
FBL Sectors Where Approval is Common:
- Software development and IT consulting
- Engineering consulting and design services
- Management consulting and training
- Import and export trading (non-restricted goods)
- Hotel and hospitality management
- Air courier and cargo services
- Business research services
4. US-Thailand Treaty of Amity
Exclusive Advantage for American Investors
The Treaty of Amity and Economic Relations (1966) between the United States and Thailand provides American citizens and US-registered corporations with unique privileges, including 100% Thai company ownership without FBL requirements.
Eligibility:
- Individual applicant: US citizenship required
- Corporate applicant: Company incorporated in the United States and substantially owned by US citizens
- Majority shareholder must meet citizenship requirements
Treaty Benefits:
- 100% Ownership Allowed without Foreign Business License for most sectors
- Exemption from List 3 Restrictions for Treaty-approved activities
- Identical Treatment to Thai nationals in permitted sectors
- Land Ownership Rights in some cases (specific restrictions apply)
- Simplified Registration process without FBL application delays
Treaty-Protected Activities Include:
- Retail and wholesale trade
- Manufacturing and assembly
- Service businesses (consultancy, training, repairs)
- Import/export trading
- Transportation services
- Agriculture-related businesses
- Tourism services
Not Permitted Under Treaty:
- Newspaper and media publication (still restricted)
- Practice of law as Thai lawyer (professional restrictions)
- Land ownership (significant limitations)
- Mining and natural resource extraction
- Certain regulated professions requiring Thai licensure
Application Process:
- Apply for ordinary company registration with 100% foreign shareholding
- Submit Treaty of Amity declaration with application
- Provide proof of US citizenship or corporate incorporation
- Standard registration fees apply; no additional FBL fees required
- Processing time: Same as standard registration (3-7 business days via DBD Biz Regist)
US Citizen Advantage Statistics:
- Approximately 8,000-10,000 US-Thai Treaty companies currently registered
- Processing approval rate: 95%+ for properly documented applications
- No additional government fees for Treaty status
Step-by-Step Thailand Company Registration Process
Phase 1: Pre-Registration Planning and Preparation (1-2 Weeks)
Step 1: Decide Your Company Structure and Foreign Ownership Pathway
Critical Decision Points:
- Foreign Ownership Strategy
- Will Thai partners be required (49% Thai ownership)?
- Do you qualify for Treaty of Amity (US citizens)?
- Is your business eligible for BOI promotion?
- Would Foreign Business License (FBL) suit your operation?
- Business Sector Confirmation
- Research whether your planned business is restricted under FBA List 3
- Identify any additional licensing requirements (food, pharmaceuticals, travel, etc.)
- Document estimated Thai employee hiring plans
- Capital and Funding
- Determine registered capital amount (minimum considerations: ฿100,000 for Thai-majority company with no foreign workers; ฿2,000,000 per foreign employee if hiring foreigners)
- Arrange capital transfer from overseas (document source for BOI/FBL applications)
- Open Thai bank account if not already established
- Partner Selection (If Thai-Majority Structure)
- Identify trustworthy Thai partners meeting shareholding requirements
- Conduct due diligence (criminal record checks, business history, financial stability)
- Draft confidential shareholder agreements protecting minority (foreign) investor interests
- Agree on management rights, dividend distribution, dispute resolution procedures
Step 2: Prepare Thai Business Address and Workspace
Address Requirements:
- Physical address required in Thailand (cannot be virtual-only for limited companies)
- Address must be specific street location with building number and room/office designation
- Options include: rental office, serviced office, co-working space, home office (with restrictions), or shop house
Address Verification:
- Prepare lease agreement or property ownership document
- Utility bill or property tax certificate confirming address
- For home offices: Owner consent letter if renting; may face stricter scrutiny from immigration authorities
- Commercial addresses in established business districts carry higher credibility for visa applications
Strategic Recommendations:
- Choose address in reputable commercial area for work permit applications (Immigration often verifies locations)
- Ensure address remains valid for minimum 3-5 years (companies cannot frequently change registered office)
- For Bangkok operations: Business districts like Thonglor, Silom, Ploenchit carry higher credibility with officials
Step 3: Conduct Business Name Availability Research
Company Naming Guidelines:
- Name must end with “Limited” (for Thai limited company)
- Can be in Thai language, English, or both Thai and English
- Must be unique: No exact matches or confusingly similar existing company names
- Cannot contain terms suggesting government affiliation or false credentials
- Cannot use names of well-known brands or protected names
- Should reflect actual business activities (Ministry may query if name seems unrelated to operations)
Search Strategy:
- Check DBD’s online company register at www.dbd.go.th
- Search Companies House Thailand database (www.companieshouse.co.th)
- Verify no trademark conflicts through Thai IP Office
- Prepare 3-5 name options for application (approval increases likelihood)
Phase 2: Company Registration with DBD (3-7 Business Days via DBD Biz Regist)
Step 4: Reserve Company Name
Process (Via DBD Biz Regist Platform):
- Create account on DBD Biz Regist website
- Complete identity verification:
- Thai nationals: ThaID or National Digital ID (NDID) app
- Foreign nationals: DBD e-Service application only option
- Submit company name reservation request with:
- Three proposed company names (in order of preference)
- Registered office address
- Company objectives description
- Declaration that liability is limited
Processing:
- Approval typically within 1-2 business days
- If approved, name reservation valid for 30 days (non-extendable)
- If rejected, receive notification with rejection reason; resubmit alternative names immediately
Success Tips:
- Choose unique names unrelated to existing major companies
- Avoid generic terms like “Trading Co., Ltd.” without unique identifier
- If first choice rejected, have alternatives ready for immediate resubmission
- Ensure names align with actual planned business activities
Step 5: Prepare and File Memorandum of Association (MOA)
What is the MOA?
The Memorandum of Association is the foundational company charter document outlining:
- Company objectives and business purposes
- Registered office address
- Share capital structure and amount
- Shareholder names and shareholding percentages
- Share types (ordinary, preference, etc.)
- Rights attached to different share classes
- Promoter details and signature declarations
MOA Content Requirements:
- Company Objectives: Detailed description of business activities (e.g., “To engage in import and export trading of food products and food ingredients”)
- Registered Capital: Total authorized share capital (e.g., ฿500,000 divided into 5,000 ordinary shares of ฿100 par value each)
- Shareholders: Names, nationalities, addresses, and shareholding details for all initial shareholders/promoters
- Signature Declaration: Sworn declaration that information is true, signed by all promoters before notary
MOA Preparation Steps:
- Hire Thai lawyer or legal service provider to draft customized MOA
- Provide completed personal information for all shareholders:
- Full legal name, date of birth, nationality
- Thai ID number (Thai nationals) or passport number (foreigners)
- Residential address
- Occupation
- Specify share allocation:
- Foreign shareholder: 49% (if Thai-majority structure)
- Thai partner(s): 51%
- Number of shares each will hold
- List all company objectives (keep comprehensive; easier to add activities later)
- Draft document must be in Thai language (English translation supplementary only)
- All shareholders must sign MOA before Thai notary public
- If foreign shareholders cannot be present, sign abroad before notary; return signed documents
Documents to Gather for MOA Execution:
- Passport (foreign shareholders) and valid ID (Thai nationals)
- Proof of address (utility bill, rental agreement, property document)
- Proof of funds: Bank statements showing capital availability
- Curriculum vitae for proposed directors (1-2 pages)
Timeline:
- MOA drafting: 2-3 business days
- Notarization: Same-day typically (Thai notaries available throughout business districts)
- Translation (if needed): 1-2 business days
Cost:
- Legal/accounting service for MOA: ฿5,000-15,000
- Notarization: ฿100-200 per signature
- Translation (if required): ฿500-1,500
Step 6: Conduct Statutory Meeting
Purpose:
The Statutory Meeting is a formal shareholders’ meeting convening to:
- Approve and ratify the Memorandum of Association
- Approve Articles of Association (internal governance rules)
- Appoint first directors and define their powers
- Appoint company auditor
- Approve any pre-incorporation contracts entered by promoters
- Address any pre-incorporation expenses
Meeting Requirements:
- All shareholders (promoters) must attend or be validly represented via power of attorney
- Can be held virtually or in-person
- Meeting date typically 10-14 days after MOA notarization
- Meeting location: Thailand required (can be at lawyer’s office, company address, or serviced office)
Statutory Meeting Agenda (Typical):
- Opening and Confirmation of Attendees
- Shareholder verification and quorum confirmation
- Acceptance of power of attorney documents for absent shareholders
- Presentation and Approval of MOA
- Present MOA for final shareholder ratification
- Confirm all shareholding allocations and capital contributions
- Articles of Association Adoption
- Review internal governance rules
- Approve any modifications to standard provisions
- Director Appointment
- Formally appoint managing director(s)
- Specify powers: signature authority, bank account management, operational decisions
- Minimum one director required; Thai resident director recommended but not mandatory
- Auditor Appointment
- Appoint company auditor (required for companies with capital above ฿2,000,000 or 30+ shareholders)
- For smaller companies, can waive audit requirement
- Resolution Approval
- Pass formal resolutions documenting all decisions
- Shareholder signatures on resolution documentation
Post-Meeting Requirements:
- Meeting minutes prepared within 24-48 hours
- Minutes signed by all attendees or proxy representatives
- Prepare statutory meeting certificate confirming all proceedings
- Gather signed resolutions for DBD submission
Meeting Costs:
- If lawyer-facilitated: ฿3,000-8,000
- If self-managed: Minimal cost (notary for minutes: ฿200-400)
Timeline:
- Schedule: 1-2 weeks after MOA notarization
- Completion: Typically 2-3 hours for meeting itself
- Documentation: 24-48 hours to prepare and certify minutes
Step 7: Capital Deposit into Thai Bank Account
Capital Payment Requirements:
Before formal DBD registration, shareholders must deposit paid-up capital into a Thailand-based company bank account (in the company name, not personal account).
Deposit Minimum:
- 25% of subscribed share capital must be paid-up (deposited in bank account)
- Remaining 75% can be paid later as required by board/shareholders
Example Calculation:
- Total registered capital: ฿500,000
- 25% minimum paid-up capital: ฿125,000
- Can deposit only ฿125,000 now; remaining ฿375,000 deposited later as needed
Process:
- Open Company Bank Account
- Present to Thai bank: MOA, statutory meeting minutes, director identification
- Account name must be company legal name exactly as on MOA
- Requires director signature card (can be at bank)
- Transfer Capital Funds
- Foreign shareholders: Wire funds from overseas bank (document the source and purpose in remittance)
- Thai shareholders: Transfer from personal accounts
- Keep bank statements showing deposit and account in company name
- Obtain Capital Deposit Verification
- Request letter from bank confirming:
- Account holder name
- Amount on deposit
- Date of deposit
- Account number
- This letter submitted with DBD registration application
- Request letter from bank confirming:
Capital Transfer (For Overseas Funding):
- File Thai form “TM.30” at Immigration (for funds exceeding certain amounts)
- Prepare documentation showing capital source
- Wire bank statements or loan documentation if funds from company/family
- Avoid wire descriptions suggesting business activities not yet approved
Banking Costs:
- Account opening: Usually free or ฿500-2,000 fee
- Monthly account maintenance: ฿0-500 (many Thai banks have free SME accounts)
- Wire transfers: ฿200-500 per international transfer
Timeline:
- Account opening: 1-3 business days
- Capital transfer (international): 2-5 business days (SWIFT transfer)
- Capital verification: Immediate upon request from bank
Step 8: Submit Registration Application via DBD Biz Regist
DBD Biz Regist Registration Process:
- Log Into Account
- Access DBD Biz Regist website
- Navigate to “Corporate Registration” section
- Select “New Private Limited Company”
- Upload Required Documents
- Certified copy of signed MOA
- Statutory meeting minutes with shareholder signatures
- Articles of Association (if customized; otherwise standard provisions apply)
- Director appointment document with signatures
- Auditor appointment document
- Bank statement confirming capital deposit
- List of shareholders with identification details
- Identified addresses for all shareholders and directors
- Complete Registration Information
- Company name (exactly as on MOA)
- Business objectives
- Registered capital amount
- Shareholder details and shareholding percentages
- Director details and contact information
- Registered office address with map/coordinates
- Apply Electronic Signatures
- All promoters/shareholders sign electronically via DBD system
- Electronic signatures comply with Thailand’s Electronic Transactions Act
- Signatures can be sequential or simultaneous
- System generates timestamp and certification
- Submit Application
- Submit completed application with all signatures
- Receive confirmation number and application reference
- Application fee payment processed (fee calculated based on capital)
- Monitor Application Status
- Track status via DBD Biz Regist portal (updated real-time)
- Receive email/SMS notifications of status changes
- Monitor for requests for additional clarifications
Registration Costs:
| Item | Cost (THB) | Notes |
|---|---|---|
| Registration Fee | 500 per 100,000 capital (min 5,000) | ฿5,000-30,000 typical |
| Certification Fee | 100 per copy | Usually 2-3 copies needed |
| Stamp Duty | 200 per 100,000 capital | Included in registration fee |
| Total Government Fees | ฿5,500-35,000 | Depends on capital structure |
Legal/Service Provider Costs (If Using Intermediary):
- Full registration service: ฿10,000-25,000
- Document preparation: ฿5,000-15,000
- Notarization and translation: ฿3,000-8,000
- Total with legal services: ฿20,000-50,000
Processing Timeline via DBD Biz Regist:
- Fully Completed Applications: 3-5 business days approval
- Applications with Clarification Needed: 7-14 business days (depending on complexity)
- Certificate Issuance: Within 1 business day of final approval (digital certificate)
- Total Average Timeline: 5-7 business days from submission
Application Improvement Tips:
- Ensure all documents are accurately notarized before upload
- Double-check shareholder names match exactly across all documents
- Verify business objectives are comprehensive and clearly stated
- Provide highest-quality document scans (color, legible)
- Have director contact information verified before submission
Phase 3: Post-Registration Setup (1-3 Weeks)
Step 9: Download Certificate of Incorporation
Immediately Upon Approval:
Once DBD approves registration (typically 3-5 business days), the Certificate of Incorporation becomes available digitally via DBD Biz Regist.
Certificate Contents:
- Company registration number (unique identifier)
- Company legal name (Thai and English if both used)
- Registration date
- Registered office address
- Registered capital amount
- Director names
- Company seal specification
- Government official authorization
Actions:
- Download digital certificate from portal
- Print official copies (recommended 3-5 certified copies)
- Request certified paper copies from DBD if needed (฿100 per copy)
- Use certificate for bank account opening, tax registration, license applications
Step 10: Register for Tax Identification
Mandatory Registration Timeline: Within 60 Days of Incorporation
Tax ID Registration Process:
- Gather Documentation
- Certificate of Incorporation
- MOA and Statutory Meeting Minutes
- Director’s identification
- Registered office address proof (lease or ownership)
- Sample company seal impression
- Director bank account details
- Submit to Revenue Department
- File at local District Revenue Office (สำนักพิมพ์สรรพากร)
- Form “Kor Por Chor. 0401” for corporate tax registration
- Form submission processed typically same-day
- Receive Tax Identification Number (TIN)
- Issued immediately upon submission if documents complete
- Number format: 13-digit Thai tax number
- Required for all business transactions and invoicing
VAT Registration (Conditional):
- Automatic if: Annual revenue exceeds ฿1,800,000 OR company employs foreign workers
- Optional if: Revenue below threshold and no foreign employees
- Recommended if: Planning significant revenue or foreigner employment
VAT Registration Benefits:
- Input VAT recovery (can deduct VAT paid on business expenses)
- Enhanced business credibility
- Required for certain B2B transactions
Costs:
- Tax ID registration: Free
- VAT registration: Free (if automatic)
- Total: ฿0
Documents Required:
- Certificate of Incorporation (certified copy)
- MOA (certified copy)
- Director ID or passport (copy)
- Proof of registered address (utility bill or lease)
- Completed tax registration forms
Timeline:
- Submission to registration: Same-day or next business day
- Tax ID receipt: Immediate upon submission or within 1-2 days
- VAT registration: Same process, additional forms
Step 11: Open Company Bank Account
Bank Account Opening Process:
Once company is registered with Tax ID, formal bank account opening becomes straightforward.
Documents Required:
- Certificate of Incorporation (original or certified copy)
- MOA and Statutory Meeting Minutes
- Director identification (passport for foreigners, Thai ID for Thais)
- Proof of registered address (lease or utility bill)
- Sample company seal impression
- Specimen signatures of authorized directors
Bank Selection Considerations:
- Large Thai Banks (Bangkok Bank, Kasikornbank, Siam Commercial): Highest credibility, English support, international wire capabilities
- Regional Banks: Often lower fees, localized service
- Online Banks: Faster setup but limited international transaction capabilities
Account Type Selection:
- Business/Corporate checking account (required for company operations)
- Savings account (optional, for maintaining minimum balance)
- Separate accounts: Some companies maintain separate accounts for wages, tax payments
Processing:
- Account opening: 1-3 business days
- Debit card issuance: 5-7 business days
- Account activation: 1 business day after initial deposit
- Online banking setup: Same day or next business day
Minimum Balance Requirements:
- Typically ฿500-5,000 depending on bank and account tier
- Some banks waive minimums for SME business accounts
- Monthly maintenance fees: ฿0-500 depending on account type
Costs:
- Account opening: Free to ฿1,000
- Monthly maintenance: ฿0-500
- Wire transfer fees: ฿200-500 per transfer (international)
- ATM/debit card: Free to ฿500
Step 12: Register for Social Security (If Employing Staff)
Social Security Office (SSO) Registration: Within 30 Days of Hiring First Employee
Process:
- Register company with Social Security Office at local branch
- Provide: Company registration, director ID, proof of employee hiring
- Establish employer SSO account
- Employee-employer contribution payments (set up via bank transfer)
Contribution Rates (2025):
- Employer contribution: 5% of employee salary
- Employee contribution: 5% of salary
- Government contribution: 1.5% (to employee account)
- Accident insurance: 0.2-0.65% of payroll
Timing:
- Registration: Same day
- Contribution setup: 1-2 business days
- Costs: No registration fee; contributions ongoing based on payroll
Capital Requirements and Funding: What You Need to Know
Minimum Registered Capital
Capital Thresholds by Situation:
| Scenario | Minimum Capital | Payment Required at Registration |
|---|---|---|
| Thai-majority company, no foreign employees | ฿100,000-500,000 (recommended) | 25% (฿25,000-125,000) |
| Company employing foreign workers | ฿2,000,000 per foreigner | 25% (฿500,000 per foreigner) |
| Foreign Business License application | ฿2,000,000 minimum | 25% or 100% (depends on circumstances) |
| Treaty of Amity company | ฿500,000 typical (flexible) | 25% |
| BOI-promoted company | Varies by industry | Variable, often required 100% |
Key Points:
- Capital is the amount authorized by MOA; you don’t need to deposit 100% immediately
- Only 25% of subscribed shares must be paid-up (deposited in bank) at registration
- Remaining 75% can be deposited later when needed (for equipment purchase, expansion, etc.)
- Each shareholder must deposit at least their proportionate share
Capital Sources and Documentation
Acceptable Capital Sources:
- Personal savings and bank accounts
- Business loans (with documentation)
- Investor capital contributions
- Spouse/family loans (requires loan agreement for documentation)
- Company profits reinvestment (if transferring from existing business)
Documentation Required for Foreign Investors:
- Bank statements showing capital availability (3-6 months prior statements)
- International wire transfer confirmation with amount and date
- Letter from home bank confirming fund source
- If gift from family: Family loan agreement or gift letter
- If business loan: Loan agreement and bank confirmation
Capital Increases and Share Issuance
Future Capital Needs:
- Board resolution approving capital increase
- Shareholder meeting ratifying increase
- MOA amendment documenting new capital amount
- DBD registration of amended MOA (additional fees apply)
- Bank deposit of new capital
- Tax filing documenting capital increase
Cost and Timeline:
- Amendment registration: ฿5,000-15,000
- Processing time: 3-7 business days
- No complications if capital increase reasonable and properly documented
Foreign Ownership Structures: Detailed Comparison
Structure #1: Thai-Majority Company (49% Foreign Ownership)
Overview: Foreign shareholder(s) hold maximum 49% of ordinary shares; Thai partner(s) hold 51% to ensure Thai classification under FBA.
Shareholding Example:
- Foreign Investor: 49% (4,900 shares of ฿100 par value = ฿490,000 ordinary shares)
- Thai Partner: 51% (5,100 shares of ฿100 par value = ฿510,000 ordinary shares)
- Total Capital: ฿1,000,000
Advantages:
- No FBL Required: Operates as Thai company; no Foreign Business License needed
- Operational Flexibility: Can engage in any lawful business activity
- Lower Capital for Operations: No foreign employees = no ฿2M per foreigner requirement
- Simplified Registration: Standard company registration only; no FBL application delays
- Thai Banking Relationships: Thai-majority structure preferred by banks for credit facilities
Disadvantages:
- Dependent on Thai Partner: Requires trustworthy individual or entity holding majority
- Minority Voting Position: Only 49% voting rights unless voting structures modified
- Partner Dispute Risk: If relationship sours, Thai partner controls company
- Finding Reliable Partner: Due diligence required; scams exist
- Management Complexity: Board composition requires careful structuring to maintain foreign control
Protecting the Foreign Investor:
- Shareholder Agreement: Comprehensive document specifying:
- Management rights for foreign investor (usually managing director position)
- Dividend distribution terms
- Director appointment and removal rights
- Dispute resolution and mediation procedures
- Thai partner restrictions on further share sales
- Buy-back provisions if partnership terminates
- Preference Share Structure: Thai shareholder holds preference shares with:
- Limited voting rights (e.g., 1 vote per 10 shares vs. ordinary shares of 1 vote per share)
- Priority dividend rights
- Anti-dilution provisions
- Preference in liquidation scenarios
- Board Composition: Appoint majority foreign directors despite minority shareholding
- Foreign investor: Managing director (day-to-day operational control)
- Foreign partner/associate: Director
- Thai partner: Director (satisfies Thai representation requirement)
- Foreign majority in voting situations regarding major decisions
- Director Powers Allocation: Define in company bylaws:
- Managing director: Full authority for daily operations, contracts up to set limit
- Financial controls: Dual signature on checks, financial decisions require two directors
- Major decisions: Capital expenditure, bank loans, asset sales require full board approval
Structure #2: Board of Investment (BOI) Promotion
Overview: Government-approved 100% foreign ownership for businesses in designated sectors and activities promoting Thailand’s development.
Qualifying Business Activities (Common Approved Sectors):
- Manufacturing: Electronics, machinery, chemicals, food processing (clean production)
- Technology: Software development, semiconductor assembly, IT services
- Logistics: Warehousing, distribution, supply chain management (Bangkok Port-linked)
- Tourism: Hotels, resorts, attractions, guide services
- Renewable Energy: Solar installations, wind power, biogas projects
- Medical Services: Hospitals, diagnostic centers, medical tourism, traditional medicine
- Agriculture: Organic farming, agricultural exports, food processing
- Service Outsourcing: Call centers, data processing, business process outsourcing (BPO)
- Infrastructure: Waste management, water treatment, renewable energy projects
Application Requirements:
- Detailed business plan (10-20 pages minimum)
- Financial projections (3-5 year forecast)
- Market analysis and competitive positioning
- Technology or methodology specifics
- Thai employment plan (number of Thai staff to hire, salary ranges)
- Local supply chain development strategy
- Capital investment amount and breakdown
- Timeline for establishment and operations
Application Process:
- Prepare Comprehensive Proposal: Engage BOI advisors or law firms familiar with process
- Submit to Board of Investment: Ministry of Commerce, BOI Office
- Initial Review: BOI examines completeness, project relevance (1-2 weeks)
- Board Committee Meeting: BOI Board votes on promotion (monthly meetings)
- Approval or Denial: Formal notification with promotional incentives or rejection reasons
- Promotion Certificate Issuance: Received typically 2-4 weeks after board approval
- Company Registration: File with DBD with BOI certificate attached
- Incentive Implementation: Tax holidays and exemptions commence from approval date
BOI Incentive Benefits:
- 100% Foreign Ownership: Full control without Thai partner requirement
- Corporate Income Tax Holiday: 8 years on net profits (some sectors qualify for 10 years)
- Import Duty Exemption: No import duty on raw materials, machinery, and equipment
- Value-Added Tax (VAT) Exemption: No VAT on imported raw materials and machinery
- Foreign Worker Ratio Relaxation: Typically 1:4 (1 foreigner per 4 Thai employees) vs. standard restrictions
- Accelerated Depreciation: Machinery depreciation over shorter periods for tax purposes
- Exemption from Local Content: Not required to use Thai suppliers in many sectors
- Land Leasing: Extended lease terms for industrial land (typically 25+ years)
- Dividend Exemption: Reduced taxes on dividends reinvested in business expansion
Processing Timeline:
- Proposal preparation: 2-4 weeks
- BOI submission to approval: 6-12 weeks (average 8 weeks)
- Total timeline from concept to BOI certificate: 3-4 months
Costs:
- BOI application: No government fee
- Consulting/law firm advisory: ฿40,000-150,000 ($1,200-4,500 USD)
- Document preparation and translation: ฿10,000-30,000
Success Rate: Varies significantly by sector:
- Manufacturing and technology: 70-80% for well-documented proposals
- Retail and service sectors: 30-50% (more restricted)
- Tourism-related: 60-75%
- Renewable energy: 85%+ (government priority)
Key Success Factors:
- Clear demonstration of Thailand economic benefit
- Realistic financial projections with supporting assumptions
- Professional presentation and documentation
- Alignment with government development priorities
- Experienced legal/consulting guidance through application process
Structure #3: Foreign Business License (FBL)
Overview: Formal government permission for 100% foreign-owned companies to operate in FBA List 3 restricted sectors, requiring Ministry of Commerce approval demonstrating necessity and Thai benefits.
Sectors Typically Approved for FBL:
- Management Consulting: Strategy, operations, organizational development
- Software Development: Custom software, software-as-a-service (SaaS), IT solutions
- Business Services: Accounting, HR consulting, market research, training
- Import/Export Trading: General merchandise trading (non-restricted goods)
- Hospitality Management: Hotel operations, resort management
- Logistics Coordination: Supply chain management, distribution coordination
- Air Services: Cargo consolidation, courier services, air freight handling
- Professional Services: Engineering design, architecture consultation
- Repair Services: Equipment repair, machinery servicing
- Maintenance Services: Building systems, industrial equipment, HVAC services
Sectors Rarely or Never Approved for FBL:
- Retail trade (reserved for Thai nationals)
- Legal services (law practice)
- Medical practice (medical doctor services)
- Media and publishing
- Land trading and real estate brokerage
FBL Application Requirements:
1. Business Plan Components:
- Executive summary (1-2 pages)
- Detailed business description (objectives, operations, timeline)
- Market analysis (target market, competitive positioning)
- Financial projections (income statement, cash flow, balance sheet for 3-5 years)
- Capital structure and funding sources
- Organization and management plan
- Marketing and sales strategy
- Technology or methodology differentiators
- Risk analysis and mitigation strategies
2. Financial Documentation:
- Bank statements showing registered capital deposit (minimum ฿2M)
- Proof of funds availability for capital
- Financial statements of parent company (if foreign subsidiary)
- Auditor’s certification or bank letter confirming capital deposit
3. Corporate Documentation:
- Certificate of Incorporation
- MOA and Articles of Association
- Shareholder list with ownership percentages
- Board resolution approving FBL application
- Director curriculum vitae and passport/ID
4. Business Necessity Justification:
- Documentation showing why Thai nationals cannot provide service
- Description of technology or expertise unique to company
- Thai employment plan (minimum Thai staff commitments)
- Supply chain development with Thai vendors
- Evidence of no adverse impact on Thai businesses in sector
5. Additional Requirements (Sector-Specific):
- Qualifications/certifications of key personnel
- Software company: Source code documentation, product specifications
- Consulting: Client testimonials, project portfolio, case studies
- Trading company: List of suppliers/customers, market analysis
- Service companies: Methodology documentation, quality assurance procedures
Application Submission Process:
- Prepare Complete Documentation Package
- Compile all required documents
- Prepare Thai language versions (if necessary)
- Obtain notarization and certifications
- Submit to Ministry of Commerce
- Department of Commercial Registration Office
- Submit original documents + certified copies
- Pay application fee (฿2,000 processing + ฿20,000 certificate if approved)
- Receive application number and official receipt
- Ministry Initial Review (5-10 business days)
- Verify document completeness
- Check for obvious deficiencies
- May request additional clarifications
- Ministry Substantive Review (30-60 days)
- Detailed examination of business plan
- Assessment of Thailand economic contribution
- Analysis of potential impact on Thai businesses
- May contact applicant for presentations or interviews
- Ministry Decision (60-120 days average)
- Approval issued as Foreign Business License Certificate
- OR Conditional approval (with modification requirements)
- OR Denial (with written explanation of reasons)
- Post-Approval (if approved)
- Receive FBL Certificate
- Certificate valid typically 3-10 years (depending on sector and circumstances)
- Must register company with FBL documentation attached
- FBL provides legal authorization for all company operations
FBL Processing Timeline Summary:
- Preparation and submission: 1-2 weeks
- Ministry processing: 60-120 days (average 90 days)
- Total: 3-5 months from application to approval
Costs Associated with FBL:
- Application fee: ฿2,000 (non-refundable)
- Certificate fee: ฿20,000 (if approved)
- Legal/consulting services: ฿20,000-50,000 for preparation and submission
- Document translation: ฿3,000-8,000
- Total: ฿45,000-78,000
FBL Renewal and Obligations:
- License validity: 3-10 years (sector-dependent)
- Renewal application: Required 6 months before expiration
- Annual compliance filing: Required in some cases
- Regular business operation requirement: Must be actively conducting business (not dormant)
Increasing Approval Likelihood:
- Emphasize unique capabilities unavailable from Thai competitors
- Provide realistic, well-researched financial projections
- Commit to hiring Thai staff (provide detailed employment plan)
- Demonstrate technological or methodological superiority
- Show local supply chain integration and Thai economic benefit
- Obtain endorsement from industry associations or partners
- Engage experienced legal counsel familiar with approvals in your sector
Structure #4: US-Thailand Treaty of Amity
Overview: Exclusive arrangement for US citizens and US-incorporated companies providing 100% ownership rights in most sectors without Foreign Business License requirements.
Treaty Eligibility:
- Individual Applicant: US citizen (passport holder; green card holders not eligible)
- Corporate Applicant:
- Incorporated in the United States
- At least 51% beneficially owned by US citizens
- Can be C-corporation, LLC, or partnership (IRS documentation required)
Treaty-Protected Activities: Permitted to conduct without FBL:
- Manufacturing and assembly of goods
- Retail and wholesale trade
- Service businesses (consultancy, training, repairs)
- Import and export trading (non-restricted goods)
- Transportation services
- Food and beverage operations
- Hotel and hospitality
- Tourism services
- Educational services
- Technology and software services
- Business services and consulting
- Agricultural businesses
Treaty Restrictions: Prohibited even under Treaty:
- Newspaper, magazine, and media publishing (Thai nationals only)
- Practice of law (requires Thai bar admission)
- Medical practice (requires Thai medical license)
- Traditional Thai massage (specific licensing requirements)
- Land ownership (still subject to Thai restrictions)
- Aquatic resources and mining (government monopolies)
Application Process:
- Prepare Standard Company Registration Documents:
- MOA with 100% foreign shareholding (no Thai partner required)
- Statutory meeting minutes
- Articles of Association
- Director appointment
- Capital deposit verification
- Prepare Treaty Documentation:
- Certified copy of US passport (shareholder/director)
- If corporate applicant: Certificate of Incorporation from US Secretary of State
- If LLC: Articles of Organization
- IRS documentation proving beneficial ownership percentages
- Notarized declaration of Treaty eligibility and intended Treaty protection
- Submit via DBD Biz Regist:
- Include Treaty eligibility declaration with standard registration documents
- Submit all documents including passport copies
- Processing same as standard registration
- Approval:
- Certificate of Incorporation issued
- Treaty status recorded in DBD registry
- No additional approval process or timeline required
- FBL not necessary for listed Treaty-protected activities
Treaty Registration Process Timeline:
- Document preparation: 1 week
- DBD Biz Regist submission: 3-7 business days
- Total: 2-3 weeks
Costs:
- Standard registration fees: ฿5,500-30,000 (based on capital)
- No additional FBL fees required
- Legal services (if used): ฿5,000-15,000
- Total: ฿10,500-45,000
Treaty Advantages Summary:
| Advantage | Benefit |
|---|---|
| 100% Ownership | No Thai partner requirement; full control |
| No FBL Required | Eliminates 3-5 month FBL approval process |
| Broader Activities | Can operate in sectors otherwise restricted |
| Faster Setup | Same timeline as Thai-majority company (1-2 weeks vs. 3-5 months for FBL) |
| Lower Costs | No FBL application fees; only standard registration |
| Credibility | US citizenship provides enhanced credibility with Thai officials |
Treaty Limitations:
- US citizenship requirement (non-negotiable)
- Certain professional sectors still prohibited
- Land ownership still restricted
- Not valid for prohibited sectors listed in Thai law
Additional Business Licenses and Permits
Beyond company registration with the DBD, many business activities require sector-specific permits and licenses:
Common Industry-Specific Licenses
Food and Beverage Operations:
- Food Establishment License (Department of Health)
- Food Production License (if manufacturing/processing)
- Alcohol License (if serving alcohol)
- Processing time: 1-4 weeks
- Cost: ฿2,000-10,000
Travel and Tourism:
- Tourism License (TAT – Tourism Authority of Thailand)
- Travel Agency License (Department of Commerce)
- Tour Operator License (if operating tours)
- Processing time: 2-8 weeks
- Cost: ฿5,000-20,000
Transportation and Logistics:
- Transportation License (Department of Land Transport)
- Warehouse License (if storing goods)
- Logistics Operating License (if commercial logistics)
- Processing time: 2-6 weeks
- Cost: ฿3,000-15,000
Healthcare and Medical:
- Medical Clinic License (Department of Health)
- Medical Device License (if selling medical products)
- Pharmaceutical License (if handling medicines)
- Processing time: 4-12 weeks
- Cost: ฿5,000-30,000
Professional Services:
- Engineering License (Office of Public Works)
- Architectural License (Architect Licensing Board)
- Accounting/Auditing License (Revenue Department)
- Processing time: 2-8 weeks (often requires individual certifications)
- Cost: ฿3,000-10,000
Property and Real Estate:
- Broker License (Department of Commerce)
- Property Developer License (Housing Supervision Board)
- Processing time: 4-12 weeks
- Cost: ฿10,000-50,000
Environmental and Waste:
- Environmental License (Pollution Control Department)
- Waste Management License (Hazardous if applicable)
- Air Quality Permit (if manufacturing)
- Processing time: 2-6 weeks
- Cost: ฿2,000-20,000
Work Permits and Visas for Foreign Directors and Employees
Foreign Worker Restrictions
Thai Employee-to-Foreign Employee Ratio:
- Standard Requirement: 1 foreigner per 4 Thai employees (1:4 ratio)
- BOI-Promoted Companies: Often 1:1 or more relaxed ratios
- Executive/Managerial Positions: Sometimes exempt from ratio if unique expertise demonstrated
- Salary Requirement: Foreign worker must earn minimum ฿20,000-50,000/month depending on position
Foreign Worker Permission Requirements:
- Non-Immigrant B Visa (entry visa from Thai embassy/consulate)
- Work Permit (issued by Department of Employment)
- Employer registration with Immigration (TM.10 form)
Work Permit Application Process
Timeline: 1-2 weeks typically
Required Documents:
- Company registration certificate
- Organizational chart showing Thai vs. foreign staff
- Employment contract for foreign worker
- Foreign worker’s passport and visa copy
- Medical certificate (physical examination)
- Criminal record clearance
- Educational credentials (diploma verification)
- Proof of company capital (bank statement)
- TM.10 and TM.12 immigration forms
Costs:
- Work Permit Fee: ฿100-200 per permit
- Medical examination: ฿500-1,500
- Processing: Free (government)
- Legal/advisory services: ฿3,000-8,000
Annual Renewal:
- Work permits must be renewed annually
- Renewal filed with Department of Employment before expiration
- Cost: ฿100 per renewal
Visa Options for Foreign Directors
Non-Immigrant B Visa:
- Standard entry visa for business purposes
- Validity: 90 days (can be extended)
- Requirements:
- Financial proof (minimum ฿400,000 in Thai bank account OR monthly income ฿40,000+)
- Company letter confirming employment
- No specific renewal period beyond 90 days
Elite Visa (Membership):
- Long-term multiple-entry visa
- Validity: 5 or 20 years depending on category
- Cost: High (฿600,000-2,000,000)
- Benefits: Less immigration hassle, privilege lounge access
Retirement Visa (50+ years old):
- Extended stay visa for retirees
- Validity: 1 year renewable
- Requirements:
- Age 50+ or
- ฿800,000 in Thai bank account
ED Visa (Education):
- For studying Thai language or culture
- Validity: 1 year renewable
- Cost: Low (primarily for language school tuition)
Common Questions and Detailed Answers
General Business Registration Questions
Q1: How long does it take to register a company in Thailand?
A: The timeline varies by registration type:
- Standard Registration (DBD Biz Regist): 3-7 business days from online submission
- With Thai Partner (49% Foreign): 2-3 weeks total (including preparation)
- Foreign Business License: 3-5 months (60-120 days processing by Ministry)
- Board of Investment (BOI): 3-4 months (application to certificate)
- Treaty of Amity: 2-3 weeks (same as standard registration)
The most common bottleneck is preparation time (gathering documents, notarization, capital deposit). Actual DBD registration via the new digital platform is quite fast (3-7 days) if all documents are properly prepared.
Q2: What is the minimum amount of capital needed to register a company in Thailand?
A: Capital requirements depend on your situation:
- Thai-Majority Company (no foreign employees): ฿100,000 recommended (no strict legal minimum, but practical minimum for credibility)
- Company Employing Foreign Workers: ฿2,000,000 per foreign employee
- Foreign Business License Application: ฿2,000,000 minimum (though actual approval may require higher amounts)
- BOI-Promoted Company: Variable (depends on industry and business scale)
- Treaty of Amity: ฿500,000 typical (flexible based on business model)
Important: You only need to deposit 25% of subscribed capital at registration. So for a ฿1,000,000 capital company, you only deposit ฿250,000 initially.
Q3: Can a foreigner own 100% of a Thai company?
A: Yes, but with conditions and pathways:
- Board of Investment (BOI) Promotion: 100% foreign ownership allowed for approved sectors (manufacturing, technology, tourism, renewable energy, etc.)
- Foreign Business License (FBL): 100% foreign ownership permitted in restricted sectors, subject to Ministry approval (3-5 month process)
- Treaty of Amity (US citizens only): 100% ownership allowed in Treaty-protected sectors without FBL
- Standard Thai Company: Generally requires 51% Thai ownership (unless special circumstances)
Without BOI, FBL, or Treaty status, foreigners are limited to 49% ownership.
Q4: What documents do I need to register a company in Thailand?
A: Core documents required:
For All Registrations:
- Certificate of company name reservation (from DBD)
- Memorandum of Association (signed, notarized, in Thai)
- Statutory meeting minutes (showing shareholder approvals)
- Articles of Association (company bylaws)
- Director appointment resolution with signatures
- Bank statement proving capital deposit (25% minimum)
- Identification for all shareholders (passports for foreigners, Thai IDs for Thais)
- Proof of registered office address (lease agreement or property document)
For Foreign Investors Specifically:
- Certified copy of passport (bio page)
- Proof of funds (bank statement showing capital source)
- Evidence of international fund transfer (if funding from overseas)
- Curriculum vitae (for director position)
For Special Registration Types:
- BOI Promotion: Business plan, financial projections, market analysis
- FBL: Business justification, employment plan, Thai economic benefit documentation
- Treaty of Amity: Notarized Declaration of Treaty eligibility, certified proof of US citizenship
Q5: Can I register a company online in Thailand?
A: Yes, completely online via DBD Biz Regist (mandatory from January 1, 2026):
- Create account using Thai ID (Thai nationals), NDID (Thai ID app), or DBD e-Service (foreigners)
- Upload digital versions of all documents (scanned PDF)
- Complete online identity verification
- Apply electronic signatures from all parties
- Submit application
- Monitor status in real-time
- Receive digital Certificate of Incorporation within 1 business day of approval
- Total processing: 3-7 business days
No physical office visits required; entirely digital process accessible 24/7.
Foreign Ownership and Restrictions
Q6: What is the Foreign Business Act (FBA) and how does it affect my company?
A: The Foreign Business Act (1999) classifies companies as either “Thai” or “Foreign” based on shareholding:
- Thai Company: ≤49% foreign ownership (treated as Thai; fewer restrictions)
- Foreign Company: ≥50% foreign ownership (subject to FBA restrictions)
FBA Restricted Sectors (List 3) include:
- Retail and distribution
- Professional services (law, accounting, engineering)
- Transportation
- Media and publishing
- Land trading and real estate brokerage
- Import trading of specific goods
- Hotel services (some cases)
Impact: Foreign-classified companies in List 3 sectors need either:
- Foreign Business License (3-5 month approval process)
- Board of Investment (BOI) Promotion (3-4 month approval)
- Treaty of Amity (US citizens only; no additional approval needed)
The simplest solution: Maintain Thai-majority structure (49% foreign max) to avoid FBL requirements.
Q7: I want to be the majority owner of my Thai company. What are my options?
A: Four legal pathways to majority or 100% foreign ownership:
- Board of Investment (BOI): If your business qualifies (manufacturing, technology, tourism, renewable energy, etc.)
- Timeline: 3-4 months
- Best for: Eligible sectors with growth potential
- Foreign Business License (FBL): For any restricted sector business
- Timeline: 3-5 months
- Best for: Consulting, software development, trading, hospitality management
- Cost: ฿45,000-78,000
- Treaty of Amity: If you’re a US citizen
- Timeline: 2-3 weeks
- Best for: Fastest, cheapest option (100% ownership without FBL)
- Limitation: US citizens only
- Thai Nominee Arrangement: Using Thai partner (NOT recommended)
- Warning: Using Thai nominees to bypass ownership restrictions is illegal and heavily prosecuted
- Risky if discovered; company can be dissolved and assets seized
- Nominee agreements not enforceable in Thai courts
- Better alternative: Legitimate partnership agreement with real Thai partner
Recommendation: Consider genuine partnership with trustworthy Thai partner (49% Thai, 51% foreign) with strong shareholder agreement protecting your interests. This avoids lengthy FBL process while maintaining full operational control through director positions and shareholder agreements.
Q8: Can I use a Thai person as a “nominee” shareholder to avoid ownership restrictions?
A: Technically possible but highly risky and illegal:
- Using nominees to bypass Foreign Business Act restrictions violates Thai law
- DBD and Immigration actively prosecute nominee arrangements
- Consequences if discovered:
- Company dissolved by court order
- Assets potentially seized or frozen
- Criminal prosecution of involved parties
- Work permit cancellation
- Possible deportation
Why It Fails:
- Nominee agreements are not enforceable under Thai law (contract void)
- If nominee refuses to cooperate, legal recourse extremely limited
- Immigration increasingly investigates nominee arrangements during visa/work permit applications
- Compliance audits by accounting firms often reveal nominee structures
Better Alternatives:
- Legitimate partnership with real Thai investor (with protective shareholder agreement)
- Board of Investment (if eligible)
- Foreign Business License (3-5 months but legal)
- Treaty of Amity (if US citizen)
- Accept 49% ownership if not in restricted sector
Cost and Financial Questions
Q9: What is the total cost to register a company in Thailand?
A: Costs vary significantly by registration type:
Minimum (Standard Thai-Majority Company):
- Government fees: ฿5,500-15,000 (registration, certificates, stamp duty)
- Professional services (optional): ฿15,000-40,000 (legal, notarization, translation)
- Capital deposit (25%): ฿25,000-250,000+ (depending on registered capital)
- Total non-capital costs: ฿20,500-55,000
With Foreign Business License:
- Government fees: ฿22,000-45,000 (application, certificate, registry)
- Consulting/legal services: ฿40,000-150,000 (strong advisors recommended)
- Capital deposit (25%): ฿500,000+ (minimum ฿2M capital required)
- Total non-capital costs: ฿62,000-195,000
With Board of Investment (BOI):
- Government fees: ฿5,500-15,000 (no BOI approval fee)
- Consulting/legal services: ฿40,000-150,000 (strong advisors highly recommended)
- Capital deposit (25%): Variable (depends on business type and capital amount)
- Total non-capital costs: ฿45,500-165,000
With Treaty of Amity (US Citizens):
- Government fees: ฿5,500-15,000 (standard registration)
- Professional services (optional): ฿5,000-15,000
- Capital deposit (25%): ฿25,000-250,000+ (depending on capital)
- Total non-capital costs: ฿10,500-30,000
Ongoing Annual Costs:
- Tax filings and compliance: ฿3,000-10,000/year
- Accounting services: ฿10,000-50,000/year (depends on complexity)
- Annual report filing: ฿1,000-3,000
- Director/shareholder insurance: ฿5,000-20,000/year (optional but recommended)
Q10: What are the ongoing costs of maintaining a Thai company?
A: Annual recurring costs include:
Mandatory Compliance:
- Tax identification renewal: Free (automatic)
- Annual tax filing: Free (DIY) or ฿5,000-15,000 (with accountant)
- VAT filing (if VAT registered): Free (DIY) or ฿3,000-8,000 (with accountant)
- Social security contributions (if employees): 5% of payroll (employer share)
- Annual business registration filing: Free (online via DBD Biz Regist)
- Financial audit (if capital >฿30M or >30 shareholders): ฿20,000-100,000
Operational Costs:
- Bank account maintenance: ฿0-500/month (₿0-6,000/year)
- Office lease or address: ฿3,000-50,000+/month
- Professional liability insurance: ฿5,000-30,000/year
- Director and officer insurance: ฿5,000-20,000/year
Optional Services:
- Monthly/quarterly accounting: ฿10,000-50,000/year
- Legal consultation as needed: ฿5,000-30,000/year
- Bookkeeping support: ฿5,000-20,000/year
Total Estimated Annual Compliance: ฿20,000-100,000 (depending on business complexity and professional services used)
Operational Questions
Q11: Can I be the managing director of my Thai company if I’m a foreigner?
A: Yes, with requirements:
Requirements for Foreign Managing Director:
- Must have valid Non-Immigrant B Visa (business visa)
- Must have Work Permit issued by Department of Employment
- If company employs foreign workers, must comply with 1:4 (foreigner to Thai) employee ratio
- Company must have registered capital of at least ฿2,000,000 (to support work permit)
- Must be named director in company registration documents
Process:
- Register company with foreign person as director
- Apply for Non-Immigrant B Visa at Thai embassy/consulate in home country
- Apply for Work Permit at Department of Employment in Thailand (once in Thailand on visa)
- Both must be renewed annually
Timeline:
- Non-Immigrant B Visa: 5-10 business days (consulate)
- Work Permit: 1-2 weeks (Department of Employment, once in Thailand)
Cost:
- Non-Immigrant B Visa: $0-$100 depending on country
- Work Permit: ฿100-200
- Legal assistance: ฿3,000-8,000
Alternative: Appoint Thai resident director initially; transfer directorship to foreign owner after company establishment (common practice but requires shareholder approval).
Q12: What are the tax obligations of a Thai limited company?
A: Thai companies face multiple tax obligations:
Corporate Income Tax:
- Standard rate: 20% on net profits
- Small and medium enterprises: Reduced rate of 15% (under certain conditions)
- Filing deadline: Within 150 days after fiscal year-end (typically March 31 for January-December year)
- Filing method: Paper or electronic via Revenue Department
Value-Added Tax (VAT):
- Standard rate: 7% on sales (if VAT registered)
- Threshold: Mandatory if annual revenue exceeds ฿1,800,000 OR company employs foreign workers
- Filing: Monthly or quarterly VAT returns
- Input VAT recovery: Can deduct VAT paid on business expenses
Personal Income Tax (PIT) Withholding:
- Required withholding on employee salaries (5-35% depending on income)
- Required withholding on non-employee payments (dividends, contracts, service fees)
- Monthly remittance to Revenue Department
- Filing deadline: Monthly by 10th of following month
Social Security Contributions:
- Employer: 5% of employee salary (up to ฿20,670 max per employee per month)
- Employee: 5% contribution (company withholds)
- Government: 1.5% contribution
- Filing: Monthly submission to Social Security Office
Excise Tax (If Applicable):
- Additional tax on specific goods (alcohol, fuel, vehicles, etc.)
- Depends on product type and classification
Accounting and Reporting:
- Annual financial statements required (Balance Sheet, Income Statement, Cash Flow)
- Audit requirement: Mandatory if company has capital >฿30M or >30 shareholders; optional otherwise
- Annual filing deadline: Within 4 months after fiscal year-end
Estimated Annual Tax Liability (for ฿1M capital company with ฿2M revenue):
- Corporate Income Tax: ฿100,000-300,000 (depending on profitability)
- VAT: ฿0 (if expenses offset sales VAT)
- Withholding taxes: ฿50,000-150,000 (depending on payments to non-employees)
- Social security: ฿30,000-100,000 (if employees hired)
- Estimated total: ฿180,000-550,000 (varies significantly by business structure)
Q13: Do I need an accountant to manage my Thai company’s finances?
A: Depends on company complexity:
Accountant Highly Recommended If:
- Company has multiple employees (VAT, withholding tax complexity)
- Revenue exceeds ฿5M annually (complex bookkeeping)
- Company has foreign shareholders (additional reporting)
- Company operates in regulated industry (stricter compliance)
- Company has bank borrowing (lender requirements)
- Annual audit required (capital >฿30M)
May Self-Manage If:
- Solo operation or family business
- Revenue under ฿1M annually
- Simple business structure
- No foreign employees
- Comfortable with Thai language documents
Recommended Approach:
- Hire accountant/bookkeeper for at least initial setup (first 12 months)
- Can transition to self-managed once systems established
- Annual tax filing typically still benefits from professional review
Typical Accountant Costs:
- Monthly bookkeeping: ฿2,000-5,000/month (฿24,000-60,000/year)
- Tax preparation and filing: ฿5,000-15,000/year
- Annual audit: ฿20,000-100,000 (if required)
- Total typical annual accounting: ฿30,000-75,000
Employment and Work Permit Questions
Q14: How many foreign workers can I hire in my Thai company?
A: Foreign employee limits depend on company classification:
Standard Thai Company Ratio:
- 1 foreign employee per 4 Thai employees (1:4 ratio strictly enforced)
- Example: Company with 20 Thai employees can hire max 5 foreign workers
BOI-Promoted Companies:
- More relaxed ratios (typically 1:1 or unrestricted for certain positions)
- Depends on industry and BOI approval conditions
Special Categories (Often Exempt from Ratio):
- Directors and senior management (expert positions with unique skills)
- Specialized technical positions (specific qualifications unavailable in Thailand)
- Trainers and consultants from parent company
Requirements for Foreign Workers:
- Work Permit from Department of Employment
- Non-Immigrant B Visa
- Company registration with ฿2M+ capital per foreign employee
- Employment contract specifying salary (minimum ฿20,000/month typical)
- Medical certificate and background clearance
Enforcement:
- Immigration regularly audits foreign worker compliance
- Violations result in work permit cancellation
- Non-compliant foreign workers can be deported
- Company faces fines and potential criminal charges
Q15: What visa should a foreign business owner apply for in Thailand?
A: Several visa options available; choice depends on situation:
1. Non-Immigrant B Visa (Business Visa)
- Purpose: Work in Thailand; conduct business operations
- Duration: 90 days initially; extension 1 year renewable
- Requirements:
- Company letter confirming employment
- Financial proof (฿400,000 in Thai bank account OR ฿40,000/month income)
- Passport with 18+ months validity
- Cost: $0-$100 depending on consulate
- Best for: Business owners, directors, employees
- Processing: 5-10 business days at Thai embassy/consulate
2. Elite Visa (Premium Membership)
- Purpose: Long-term residence in Thailand (business, lifestyle)
- Duration: 5 or 20 years depending on category
- Membership Categories:
- Lifetime: ฿2,000,000 (one-time membership)
- 20-year: ฿1,900,000
- 5-year: ฿600,000-900,000 depending on category
- Benefits: Multiple re-entry permits, airport fast-track, privilege lounge access, less immigration hassle
- Best for: Long-term business owners wanting visa stability and benefits
- Processing: 2-3 weeks (application to approval)
3. Retirement Visa
- Purpose: Long-term stay for retirees
- Duration: 1 year renewable indefinitely
- Eligibility: Age 50+ (or non-retirement option available)
- Financial Requirements:
- Option 1: ฿800,000 in Thai bank account (maintained)
- Option 2: ฿65,000/month income from abroad
- Cost: ฿1,900-2,650 per visa
- Best for: Older entrepreneurs wanting visa flexibility without elite cost
- Processing: 1-2 weeks
4. Education Visa
- Purpose: Study Thai language or culture
- Duration: 1 year renewable
- Requirements: Enrollment in accredited language school
- Cost: ฿3,000-5,000 for language school tuition (visa itself free)
- Best for: Those wanting to learn Thai while building business
- Processing: 1-2 weeks (school dependent)
Recommended Progression:
- Start: Non-Immigrant B Visa (establish business, determine long-term commitment)
- After 2-3 years: Elite Visa (if business stable and planning long-term Thailand residence)
- Alternative: Retirement Visa (if 50+ years old, simpler than Elite)
Q16: What happens if I don’t have a work permit as a foreign director?
A: Consequences are serious:
For the Foreign Individual:
- Work Permit cancellation
- Deportation proceedings
- Immigration blacklist (cannot return for specified period)
- Potential criminal charges (unauthorized employment)
- Financial fines: Up to ฿400,000
For the Company:
- Company may face license suspension or revocation
- Criminal liability: Management/owner prosecution possible
- Fines: Up to ฿400,000
- Damaged business reputation and lender/customer relationships
- Immigration investigation of all foreign staff and operations
Real Consequences:
- Increasingly enforced by Immigration (especially post-2020)
- Visa violations are major grounds for deportation
- Even overstaying a few days triggers penalties
Critical: Obtain work permit before starting any company operations if you’re a foreign director. The 1-2 week delay is minimal compared to legal and immigration consequences.
Troubleshooting Common Registration Problems
Problem 1: Company Name Rejection
Symptom: DBD rejects proposed company names.
Causes:
- Name too similar to existing registered company
- Name conflicts with well-known trademark
- Name suggests government affiliation without authorization
- Name contains restricted terms or offensive language
Solutions:
- Research rejected names in DBD and Companies House registries
- Add unique identifiers to proposed names (location, number, descriptive word)
- Check trademark database (Thai IP Office) for conflicts
- Resubmit alternative names within 2-3 days
- If continuing rejection, hire legal advisor to suggest compliant names
Problem 2: Document Notarization Issues
Symptom: DBD requests additional notarization or certification of documents.
Causes:
- Notary seal unclear or document not properly certified
- Signature not matching across documents
- Translation certification missing or inadequate
- Document date inconsistencies
Solutions:
- Have documents re-notarized by different notary public
- Ensure all signatures identical across MOA, statutory meeting minutes, resolutions
- Obtain certified Thai translations if documents originally in English
- Keep consistent date references throughout documents
- Submit enhanced scans (high resolution, color) via DBD Biz Regist
Problem 3: Capital Deposit Not Accepted
Symptom: DBD rejects bank statement as proof of capital deposit.
Causes:
- Bank statement doesn’t show company name as account holder
- Deposit date after statutory meeting (must be before or same day)
- Statement doesn’t show full ฿500,000 required amount
- Account shows zero balance (funds may have been withdrawn)
- Bank statement format unclear or doesn’t confirm capital deposit
Solutions:
- Ensure bank account is in company legal name (exactly matching MOA)
- Confirm statutory meeting date is on or after capital deposit date
- Maintain minimum deposit amount continuously through registration
- Request specific letter from bank confirming capital deposit (provides clearer documentation)
- Resubmit higher-resolution bank statement image via DBD portal
Problem 4: Foreign Shareholder Identification Issues
Symptom: DBD requests additional identity verification or proof of legitimacy.
Causes:
- Passport unclear or details don’t match application
- Conflict between name on passport and MOA documentation
- Inability to verify foreign shareholder identity online
- Questions about beneficial ownership or nominee status
Solutions:
- Provide certified copy of passport bio page (clear, high-resolution)
- Ensure name exactly matches across all documents (MOA, statutory meeting minutes, resolutions)
- If using DBD e-Service (for foreign identity verification), provide clear digital photos meeting system specifications
- Prepare declaration letter explaining shareholder background and legitimacy (especially for first-time entrepreneurs)
- If nominee questions arise, provide detailed shareholder agreement and beneficial ownership documentation
Problem 5: Delayed Processing Beyond Standard Timeline
Symptom: Application in “under review” status beyond 7 business days.
Causes:
- Application flagged for additional scrutiny (routine)
- Clarification request issued (check email/SMS)
- High volume at DBD (seasonal, during new year or fiscal year-end)
- Document quality issues requiring clarifications
Solutions:
- Check email and SMS for clarification requests from DBD (sometimes buried in spam)
- Contact DBD support via LINE (@dbd1570), email (bizregist@dbd.go.th), or phone (1570)
- Respond promptly to any clarification requests (provides positive impression)
- If no communication for 10+ days, follow up with DBD (application may be stuck in system)
- Consider engaging legal advisor to expedite communication with DBD
Best Practices for Successful Company Registration
1. Preparation and Planning (Most Critical)
Before You Start:
- Research your industry thoroughly (sector restrictions, licensing requirements)
- Identify your foreign ownership pathway (49% Thai, FBL, BOI, Treaty)
- Find trustworthy Thai partners if pursuing Thai-majority structure
- Prepare comprehensive business plan and financial projections
- Secure capital funding and arrange fund transfers (if international)
- Identify registered office address and secure lease/ownership documentation
Timeline Discipline:
- Reserve company name 30+ days before registration (name valid only 30 days)
- Prepare MOA 2-3 weeks before registration
- Schedule statutory meeting 10-14 days after MOA notarization
- Deposit capital at least 2-3 days before statutory meeting
- Submit DBD registration immediately after statutory meeting
2. Documentation Quality and Organization
Professional Standards:
- Hire reputable Thai law firm or legal service provider for MOA drafting
- Ensure all documents properly notarized by qualified Thai notary public
- Maintain original signatures (not scans) for notarization
- Prepare certified Thai translations if original documents in English
- Keep comprehensive file organization (physical and digital copies)
Document Specifications for DBD Biz Regist:
- Scan all documents in color at 300+ DPI resolution
- Save as PDF format (single document or merged PDFs)
- File sizes under 10MB per document
- Ensure text is legible (critical for identity verification)
- Date all documents consistently throughout package
3. Identity Verification and Foreign Applicant Considerations
For Foreign Shareholders/Directors:
- Provide certified copy of passport bio page (highest clarity possible)
- Ensure name exactly matches across MOA, statutory minutes, bank statements
- Complete DBD e-Service identity verification step carefully (specification requirements strict)
- Have backup identification ready (driver’s license, national ID from home country)
- Provide curriculum vitae (1-2 pages) if applying as director
For Thai Shareholders/Partners:
- Ensure Thai ID number consistent across all documents
- Confirm address matches current Thai ID (update if necessary)
- Prepare proof of address if registered address differs from ID address
4. Communication and Responsiveness
With Thai Partners/Shareholders:
- Maintain clear written communications (email preferred for documentation)
- Use simple, specific language (minimize misunderstanding)
- Confirm all agreements and decisions in writing
- Schedule regular check-ins, especially during registration process
- Ensure all parties accessible for signature and approvals
With DBD and Government Agencies:
- Respond immediately to any clarification requests (within 24 hours if possible)
- Use official contact channels (email: bizregist@dbd.go.th, phone: 1570, LINE: @dbd1570)
- Document all communication (save emails, keep reference numbers)
- If using intermediary (law firm), ensure they actively communicate status
- Never ignore notifications from DBD (can delay processing significantly)
5. Capital Management and Compliance
Capital Deposit:
- Ensure capital deposit in Thailand bank account in exact company legal name
- Maintain minimum capital balance through entire registration process
- Obtain formal bank letter confirming capital deposit (stronger than statement)
- Document international wire transfers with remittance advice
- Keep proof of funds source (bank statements, wire confirmations)
Ongoing Capital Obligations:
- Don’t withdraw capital before registration completion
- Maintain required capital permanently (never reduce below registered amount without MOA amendment)
- If capital increase needed later, follow proper amendment procedures
- For foreign workers, maintain ฿2M per foreign employee minimum
6. Professional Guidance Selection
When to Use Legal Services:
- Always Use For: MOA drafting, FBL applications, BOI submissions, Treaty documentation
- Strongly Recommended For: First-time entrepreneurs, complex ownership structures, foreign-majority ownership
- Can Self-Manage: Pure Thai-majority company with simple structure (significant care required)
Selecting a Service Provider:
- Verify experience with foreigner registrations (at least 50+ clients)
- Ask for references and case studies
- Clarify fee structure upfront (fixed vs. hourly)
- Confirm what’s included (documents, submissions, follow-up)
- Look for DBD Biz Regist experience (system now mandatory)
- Check background (legitimate registered office, professional credentials)
Red Flags to Avoid:
- Agents promising instant registration (DBD requires 3-7 days minimum)
- Pressure to use nominee arrangements (illegal)
- Guaranteed approval of FBL/BOI (no guarantee possible)
- Extremely low fees (suggest inadequate service quality)
- Unwillingness to provide written service agreement
7. Timeline Management
Critical Dates to Track:
- Company name reservation valid: 30 days only
- MOA notarization deadline: Before statutory meeting (typically 10-14 days after name reservation)
- Statutory meeting date: 10-14 days after MOA notarization
- Capital deposit: Before or same day as statutory meeting
- DBD submission deadline: Within 90 days of statutory meeting (though earlier better)
- Tax registration deadline: Within 60 days of incorporation
Buffer Planning:
- Add 2-3 days buffer for notary appointments (can be busy)
- Add 5-7 days for international wire transfers (never assume 2-day delivery)
- Add 2-3 days for bank account opening (appointment availability)
- Build in 1-2 week delay buffer for unexpected DBD requests
8. Post-Registration Checklist
Immediate Actions (Within 1 Week):
- ☐ Download and print Certificate of Incorporation (multiple copies recommended)
- ☐ Apply for company seal (engraving takes 1-2 days)
- ☐ Register for Tax ID at District Revenue Office
- ☐ Open company bank account
- ☐ If foreign employees planned, initiate work permit applications
Within 30 Days:
- ☐ Register for VAT (if revenue expected to exceed ฿1.8M or hiring foreigners)
- ☐ Register with Social Security Office (if hiring employees)
- ☐ Obtain sector-specific licenses/permits (if applicable to your industry)
- ☐ File Form TM.10 with Immigration (if foreign director present)
Within 60 Days:
- ☐ Complete tax registration (final registration if not done immediately)
- ☐ File annual financial statement (if required for capital amount)
- ☐ If using FBL, prepare annual compliance reports
FAQ Section: Comprehensive Answers to Common Questions
Frequently Asked Questions About Thailand Business Registration
Q: How can a foreigner incorporate a startup in Thailand as a non-Thai resident?
A: Complete process:
- Pre-Setup (Remote, 1-2 weeks)
- Research business sector (FBA restrictions?)
- Determine ownership structure (49% Thai vs. FBL vs. BOI)
- If Thai-majority: Identify Thai partner (via contacts, family, professional network)
- Prepare business plan and financial projections
- First Thailand Trip (3-5 days)
- Reserve business address (or pre-arrange lease)
- Meet with Thai partner (if applicable) and sign agreements
- Visit bank to open corporate account and deposit capital
- Meet with lawyer to finalize MOA documents
- Document Preparation (Remote, 5-7 days)
- Lawyer prepares MOA and notarizes
- Coordinates statutory meeting (can be virtual with lawyer facilitating)
- All shareholders sign electronically or via power of attorney
- Registration Submission (Remote, 3-7 days)
- Submit via DBD Biz Regist online platform
- Monitor status via portal
- Respond to any clarifications (usually email-based)
- Post-Registration (Remote, 1-2 days)
- Download digital certificate
- Print certified copies
- Request formal copies from DBD if needed
Total Timeline: 2-3 weeks (most delays due to preparation, not actual registration)
Q: How to open a small business in Thailand when I don’t want to hire Thai employees?
A: Simplified process without employee complexity:
Structure Options:
- Thai-Majority Company (49% foreign, 51% Thai): Simplest option if willing to partner with Thai person
- Single-Person Sole Proprietorship: Register as individual business (not limited company)
- Partnership: Two or more individuals (Thai + foreign)
Simplified Registration:
- Minimum capital: ฿100,000 (no requirement per foreign employee since no employees)
- No employee ratio restrictions (no foreign workers)
- No work permit needed (if not hiring anyone)
- No social security registration required
- Simpler compliance (basic tax filing only)
Monthly Costs:
- Office space: ฿3,000-20,000 (home office acceptable)
- Accounting: ฿0-5,000 (if outsourced)
- Taxes: Dependent on revenue
Timeline: 2-3 weeks from start to legal operation
Q: I like to establish an online store in Thailand. Can I do this as a foreigner?
A: Yes, with considerations:
Business Structure Options:
- Thai-Majority Company (49% foreign): Preferred for e-commerce
- Unrestricted online sales
- Can sell through Thai platforms (Lazada, Shopee) easily
- Simple tax compliance
- Minimum capital: ฿100,000-500,000
- Foreign Business License: If 100% foreign ownership desired
- Timeline: 3-5 months
- Capital minimum: ฿2M
- Additional costs: ฿45,000-78,000
E-Commerce Specific Requirements:
- Platform Registration: Lazada, Shopee, Facebook Shop (not official registration, just business accounts)
- Tax Registration: Mandatory if revenue exceeds ฿1.8M/year
- VAT Registration: Recommended even if below threshold (for credibility and input VAT recovery)
- Business License: Standard company registration sufficient (no separate e-commerce license required)
Compliance Considerations:
- Products sold must comply with Thai import/export regulations
- If selling food, cosmetics, or regulated products: Additional licensing required
- Consumer protection laws apply (return policies, complaint handling)
- Payment gateway compliance (many require Thai company account)
Costs:
- Company registration: ฿20,000-50,000
- Merchant accounts (Stripe, PayPal): ฿0-500/month
- Shopify or similar platform: $30-300/month
- Accounting: ฿5,000-15,000/year
Timeline: 3-4 weeks to operational online store
Q: How can a foreigner set up a business entity in Thailand as the sole owner?
A: Three pathways:
1. Board of Investment (BOI) – Fastest If Eligible
- If business is in manufacturing, technology, tourism, renewable energy, or other BOI-approved sector
- 100% foreign ownership allowed
- Timeline: 3-4 months
- Cost: ฿40,000-150,000 (consulting)
2. Foreign Business License (FBL) – Always Available
- Available for any restricted sector business
- 100% foreign ownership allowed
- Timeline: 3-5 months
- Cost: ฿45,000-78,000
- Capital requirement: ฿2M minimum
3. Treaty of Amity – If US Citizen
- 100% ownership without FBL
- Timeline: 2-3 weeks
- Cost: ฿10,500-30,000
- Best option for US citizens
Recommendation: If not eligible for BOI or Treaty, consider genuine partnership with Thai colleague (49% Thai, 51% foreign) with strong shareholder agreement giving you full operational control. This avoids lengthy FBL process while maintaining effective ownership.
Q: How much does it cost for making a business in Thailand as a foreigner?
A: Cost breakdown varies significantly:
Minimum Scenario (Thai-Majority Company, No Employees):
- Government registration fees: ฿5,500-15,000
- Lawyer/service provider: ฿10,000-25,000
- Notarization and translation: ฿3,000-8,000
- Bank account setup: ฿0-1,000
- Capital deposit (25% of ฿100,000): ฿25,000
- Total: ฿48,500-74,000
Mid-Range Scenario (Thai-Majority with Some Employees):
- Government registration fees: ฿5,500-15,000
- Lawyer services: ฿15,000-35,000
- Capital deposit (25% of ฿500,000): ฿125,000
- Work permit setup: ฿5,000-10,000
- First-year accounting: ฿10,000-20,000
- Total: ฿160,500-215,000
Complex Scenario (Foreign Business License):
- Government registration fees: ฿22,000-45,000
- Comprehensive legal/consulting: ฿50,000-150,000
- Capital deposit (25% of ฿2,000,000): ฿500,000
- Professional document preparation: ฿20,000-40,000
- Work permit and visa: ฿10,000-20,000
- Total: ฿602,000-755,000
Ongoing Annual Costs:
- Accounting/bookkeeping: ฿10,000-50,000
- Tax preparation: ฿5,000-15,000
- Compliance and filing: ฿3,000-10,000
- Total Annually: ฿18,000-75,000
Q: Thailand Company Formation – Step By Step Procedure – What are the exact steps?
A: Complete step-by-step process:
Phase 1: Planning (1-2 weeks)
- Research your business sector in FBA (restricted sectors?)
- Decide ownership structure (49% Thai, FBL, BOI, or Treaty)
- Reserve capital funding
- Identify Thai office address or arrange lease
- Find Thai partners if pursuing Thai-majority structure
Phase 2: Preparation (1-2 weeks) 6. Hire lawyer to draft MOA 7. Gather documents from all shareholders (IDs, addresses, proof of funds) 8. Have MOA notarized by Thai notary public 9. Prepare statutory meeting agenda and resolutions 10. Book statutory meeting date (with lawyer coordinating)
Phase 3: Registration Documents (3-5 days) 11. Conduct statutory meeting (shareholders approve MOA, appoint directors) 12. Prepare statutory meeting minutes 13. Deposit capital (25% minimum) into Thai bank account in company name 14. Obtain bank letter confirming capital deposit
Phase 4: DBD Registration (3-7 days) 15. Create DBD Biz Regist account 16. Upload all documents to online portal 17. Complete identity verification (Thai ID, NDID, or DBD e-Service for foreigners) 18. Review and submit application 19. Pay registration fees 20. Monitor application status and respond to any clarifications
Phase 5: Post-Registration (1-2 weeks) 21. Download Certificate of Incorporation 22. Register for Tax ID at Revenue Department 23. Open company bank account 24. Register for VAT (if applicable) 25. Begin business operations
Total Timeline: 2-4 weeks (most variation in preparation and capital transfer phases)
Q: How to start an online business in Bangkok as a foreigner?
A: Streamlined process for online business:
Step 1: Choose Business Model
- E-commerce (Lazada, Shopee seller)
- Digital services (consulting, training, software)
- Content creation (blogging, YouTube)
- Affiliate marketing/online advertising
Step 2: Determine Legal Structure
- Thai-Majority Company (Preferred for E-commerce)
- Easier platform registration
- No work permit needed (if solo)
- Capital: ฿100,000-500,000
- Foreign Business License (If 100% foreign desired)
- Timeline: 3-5 months
- Capital: ฿2M
Step 3: Register Company
- Reserve company name
- Prepare MOA (with lawyer)
- Conduct statutory meeting
- Deposit capital
- Submit DBD Biz Regist application
- Timeline: 2-3 weeks
Step 4: Setup Banking and Payments
- Open company bank account
- Setup payment gateway (Stripe, PayPal, 2C2P)
- Setup merchant accounts with platforms
Step 5: Business Operations
- Register seller accounts (Lazada, Shopee, Facebook Shop)
- Setup product listings
- Begin marketing and sales
Costs:
- Company registration: ฿20,000-50,000
- Lawyer: ฿10,000-25,000
- Platform setup: ฿0-5,000
- Payment gateway fees: 2-3% of sales
- First Year Total: ฿30,000-80,000 (excluding working capital)
Advantages for Online Business:
- No physical location required (virtual office acceptable after registration)
- Low employee costs (typically solo or small team)
- Flexible hours and operations
- Easy to scale internationally
Q: What should I know about doing business in Thailand in terms of regulations?
A: Key regulatory considerations:
Business Structure Regulations:
- Foreign Business Act restricts 50%+ foreign ownership in certain sectors
- Thai Limited Company requires 2+ shareholders minimum
- Branch offices and representative offices have strict operational limitations
- Companies must have registered office address in Thailand
Taxation (Critical)
- Corporate income tax: 20% on net profits
- VAT: 7% (mandatory if revenue >฿1.8M or foreign employees)
- Personal income tax withholding: 5-35% on salaries, 3-15% on service fees
- Social security: 5% employer contribution on payroll
- Filing deadlines: Annual by March 31, quarterly VAT returns
Employment Regulations
- Foreigner-to-Thai employee ratio: 1:4 (strictly enforced by Immigration)
- Minimum wage: ฿335-385/day (varies by province)
- Social security contributions mandatory for all employees
- Work permits required for all foreign workers
- 8-hour workday maximum, overtime rules apply
Consumer Protection
- 7-day cooling-off period for distance sales
- Consumer complaints process
- Refund and return policies (certain products)
- Warranty and liability requirements
Data Protection
- Personal Data Protection Act (PDPA) governs data collection
- Must obtain consent before marketing communications
- Right to access, delete, and correct personal data
- Penalties for unauthorized data use
Environmental Compliance
- Environmental Impact Assessment (EIA) for certain businesses
- Pollution Control Department regulations
- Waste management and disposal rules
- Energy efficiency requirements (sometimes)
Industry-Specific Regulations
- Food business: FDA licensing and food safety standards
- Pharmaceuticals: Drug licensing and import permits
- Alcohol: Excise tax and licensing
- Tourism: Tourism Authority licensing
- Real estate: Foreign ownership restrictions (99-year lease maximum)
Regular Compliance
- Annual financial statements and audit (if capital >฿30M)
- Annual tax filing
- Quarterly/monthly VAT filing
- Annual business activity report
- Biennial license renewal (some industries)
Penalties for Non-Compliance:
- Tax violations: Up to 200% penalties + criminal prosecution
- Employment violations: Up to ฿1M fines
- Work permit violations: Deportation + fines
- Data protection violations: Up to ฿6M fines
- Sector-specific violations: Variable (often severe for food/pharma)
Q: Is it possible for foreigners to open a business in Thailand without hiring anyone?
A: Yes, completely feasible:
Solo Business Options:
- Service-based consulting (management, training, IT)
- Online business (e-commerce, digital services, content creation)
- Freelance professional work (design, writing, translation)
- Part-time business (supplementary income)
Registration Requirements:
- Still need company registration (required, not optional)
- Minimum capital: ฿100,000 (very reasonable)
- Only 25% needed upfront (฿25,000)
- Simple tax compliance (annual filing only)
Advantages of Solo Operations:
- No employee ratio restrictions
- No work permit needed for owner
- No social security contributions (for employees)
- Simpler accounting and compliance
- Lower operational costs
Disadvantages:
- All business liability falls on you
- Harder to scale (limited by personal capacity)
- Limited access to commercial credit (smaller company size)
- Visa and tax scrutiny (authorities question if truly working)
Recommended Structure:
- Thai-Majority Company (49% foreign ownership with Thai partner, even if silent)
- Provides credibility and liability protection
- Partner doesn’t need to be involved in daily operations
- Cost-effective solution
Q: Is operating a business in Thailand easy to do?
A: Mixed assessment:
Relatively Easy:
- Company registration process (3-7 days with proper preparation)
- Online platform adoption (DBD Biz Regist is user-friendly)
- Banking and financial services (generally straightforward)
- Cost of doing business (wages, rent are reasonable)
- Adaptation of foreign business models (market receptive)
Moderately Difficult:
- Navigating Thai bureaucracy (language barriers, processes unclear)
- Understanding tax obligations (complex, frequent changes)
- Complying with FBA restrictions (requires strategic planning)
- Finding reliable partners (risk of scams or misalignment)
- Handling employment compliance (Immigration scrutiny)
Challenging Areas:
- Regulatory environment (frequent changes, inconsistent enforcement)
- Corruption and informal payments (in some contexts)
- Intellectual property protection (enforcement weak in some cases)
- Legal disputes (courts can be slow)
- Language barriers (many documents Thai-only)
Success Factors:
- Proper legal setup upfront (saves massive problems later)
- Qualified local partners or advisors (cannot be overstated)
- Patience with bureaucratic processes (expect delays)
- Cultural adaptation (understanding Thai business norms)
- Regular professional guidance (accountant, lawyer)
Recommendation: Despite challenges, Thailand remains one of Southeast Asia’s most business-friendly countries. Proper planning and professional guidance minimize difficulties significantly.
Q: How to people start businesses in Thailand so easily?
A: Reasons for Thailand’s business appeal:
Ease of Registration:
- Streamlined company registration process (3-7 days)
- Minimal documentation requirements
- Low capital thresholds
- Simple online platform (DBD Biz Regist)
- Government incentive programs (BOI, FBL)
Business-Friendly Factors:
- Cost of living and operations (low wages, affordable rent)
- Large consumer market (70M population)
- Strategic location (Southeast Asia hub)
- Developed infrastructure (Bangkok especially)
- English-speaking professionals available
Financial Incentives:
- Tax incentives (corporate income tax reductions)
- BOI promotional programs (tax holidays)
- No excessive licensing requirements (compared to developed nations)
- Free trade agreements (ASEAN, some bilateral treaties)
- Foreign investment protections (bilateral investment treaties)
Growing Economy:
- Steady GDP growth
- Tourism revenue (3-4% of GDP)
- Export-oriented business environment
- Manufacturing hub status
- Digital economy development
Foreigner-Friendly Policies:
- US Treaty of Amity
- Foreign Business License availability
- Work visa accessibility
- Residency options (Elite, Retirement visas)
- English government service support (some agencies)
Cautions:
- “Ease” is relative (still more bureaucratic than developed countries)
- Challenges often appear after registration (compliance, partnerships)
- Hidden costs (accountants, advisors, compliance)
- Market competition increasing
- Regulatory environment subject to change
Realistic Assessment: Thailand’s business registration is relatively quick and inexpensive. However, success depends heavily on proper planning, legitimate partnerships, regulatory compliance, and cultural adaptation.
Q: Is it possible for foreigners to open a business in Thailand and be legally protected?
A: Yes, with proper structures:
Legal Protections Available:
1. Limited Liability Company Structure
- Personal assets separated from business liabilities
- Creditors can claim only against company assets
- Shareholders protected except in fraud cases
2. Contracts and Agreements
- Shareholder agreements (protect investor interests)
- Contracts with suppliers and customers (enforceable in Thai courts)
- Employment contracts (define rights and obligations)
- Intellectual property agreements (trademark, copyright registration)
3. Thai Legal System
- Civil law system (rules-based, not precedent-based)
- Commercial and Civil Courts
- Constitutional Court for certain disputes
- Alternative dispute resolution (arbitration, mediation available)
4. Business Insurance
- General liability insurance
- Professional liability insurance
- Directors and officers insurance
- Property and casualty insurance
Protections to Implement:
Before Registration:
- Shareholder agreement protecting foreign investor rights
- Clear capitalization documentation
- Independent legal counsel review
During Operations:
- Regular board meetings and documentation
- Proper accounting and financial records
- Clear written contracts with all parties
- Insurance coverage
- Trademark and copyright registration (Thai IP Office)
Ongoing Compliance:
- Annual financial statements and audit
- Tax compliance and documentation
- Legal updates and regulatory changes
- Dispute resolution preparation
Limitations:
- Thai courts relatively slow (cases may take 2-5 years)
- Language barriers in legal proceedings
- Corruption concerns (especially in lower courts)
- Some areas favor local parties (business contracts with government)
- Enforcement of judgments can be challenging
Recommendation: While Thailand has legitimate legal protections, prevention is better than cure. Invest in proper setup, choose reliable partners, maintain detailed records, and engage qualified legal counsel. Most disputes can be avoided through careful planning and clear agreements upfront.
Q: What are the legal capital requirement to register business in Thailand?
A: Capital requirements depend on situation:
No Strict Legal Minimum (But Practical Considerations):
- Thai Civil and Commercial Code doesn’t specify minimum capital
- Company can technically register with any capital amount
- However, government and lenders expect reasonable capitalization
Practical Minimums:
- Thai-Majority Company (no foreign employees): ฿100,000-500,000 recommended
- ฿25,000-125,000 needed upfront (25%)
- Company Employing Foreign Workers: ฿2,000,000 per foreigner
- ฿500,000 needed upfront (25%)
- Foreign Business License: ฿2,000,000 minimum (strictly enforced)
- ฿500,000-1,000,000 typical upfront
Capital Increases:
- Can increase capital later if business needs expand
- Requires MOA amendment and DBD registration
- Processing: 3-7 days and ฿5,000-15,000 fees
Capital Considerations:
- Lenders often require capital-to-debt ratios
- Work permit eligibility may depend on capital levels
- FBL approval likelihood increases with higher capital
- Bank credit facility approval depends on capitalization
Strategic Guidance:
- Overestimate needed capital by 20-30% (provides buffer)
- Maintain capital permanently (cannot drop below registered amount)
- Document all capital sources (especially for FBL/BOI)
- Use realistic capital reflecting actual business needs
Q: Registered company vs registered business – what’s the difference?
A: Two distinct business entity types:
Registered Company (Limited Company – หจำกัด):
- Legal personality: Yes (separate from owners)
- Liability: Limited (shareholders not personally liable)
- Shareholders required: Minimum 2
- Capital: Specified in MOA
- Management: Directors and board
- Compliance: Annual audit (if capital >฿30M), tax filing
- Cost to register: ฿5,500-15,000
- Cost to dissolve: ฿3,000-10,000 (plus procedures)
Registered Business (Sole Proprietorship or Partnership):
- Legal personality: No (owner is business)
- Liability: Unlimited (personal assets at risk)
- Owners required: 1 (sole) or 2+ (partnership)
- Capital: No specified capital requirement
- Management: Owner(s) manage directly
- Compliance: Simple tax filing, no audit unless requested
- Cost to register: ฿100-500 (very minimal)
- Cost to dissolve: ฿100-200 (simple cancellation)
Key Comparison Table:
| Factor | Limited Company | Registered Business |
|---|---|---|
| Liability Protection | Limited | Unlimited |
| Credibility | Higher | Lower |
| Capital Required | Yes (฿100K+) | No |
| Complexity | Higher | Lower |
| Compliance | More rigorous | Simpler |
| Cost | ฿20K-50K | ฿100-500 |
| Borrowing Ability | Better | Weaker |
| Transferability | Shares transferable | Difficult to transfer |
| Longevity | Indefinite | Uncertain |
Recommendation:
- Limited Company: For serious business operations, foreign investment, long-term planning
- Registered Business: For small side business, sole trader, minimal operations
For almost all foreigner-led operations in Thailand, limited company is recommended due to liability protection and credibility.
Q: Opening a business (legally) whilst employed by a Thai company – Is it possible?
A: Yes, with important conditions:
Legal Requirements:
- Employment Contract Check
- Review for non-compete clauses
- Check for conflict-of-interest provisions
- Verify if side business permitted
- Many Thai employers restrict outside business activities
- Tax Compliance
- Report business income to Revenue Department
- File separate tax returns for business
- Combine income for progressive tax purposes
- Cannot hide business income
- Work Permit Implications
- If on Work Permit: May restrict outside employment
- Check with Immigration/employer
- Some visas don’t permit multiple businesses
- Employer Approval
- Some employers require written consent
- May need to disclose business details
- Risk of employment termination if violating contract terms
Scenario Considerations:
If Business Is Related to Day Job:
- Employer likely to object (competition/conflict)
- May violate employment contract
- Could lead to job termination
- Risk of legal dispute over intellectual property
If Business Is Unrelated:
- Generally acceptable if contract permits
- Lower conflict-of-interest issues
- Still requires tax reporting
- Some employers may still object (policy-dependent)
Red Flags:
- Business uses employer resources (equipment, contacts, time)
- Business involves employer’s clients or competitors
- Employment contract explicitly prohibits outside business
- Time commitment affects day job performance
- Conflicts with employer’s industry
Safe Approach:
- Review employment contract thoroughly
- Consult with employer or HR about outside business
- Register business separately (different company name, accounts)
- Maintain complete separation (different bank accounts, clients, operations)
- Keep meticulous tax records (demonstrate income separation)
- Communicate transparently with employer if business-related issues arise
Risk Mitigation:
- Keep day job stable (don’t let side business interfere)
- Maintain professional relationships
- Separate business activities clearly
- Document employer’s awareness/consent
- Have realistic timelines for business growth
Most Thai employers tolerate unrelated side businesses if performance and work hours aren’t affected. Communication and transparency are key to avoiding disputes.
Q: How to check business registration in Thailand?
A: Multiple methods:
Method 1: Department of Business Development (DBD) Online Registry
- Website: www.dbd.go.th
- Steps:
- Navigate to “ค้นหาทะเบียนบริษัท” (Company Search)
- Enter company name, registration number, or business ID
- View registration details, directors, capital, status
- Download certificate if needed
Method 2: Companies House Thailand
- Website: www.companieshouse.co.th
- Features:
- Company registration search
- Director and shareholder lookup
- Financial data (some companies)
- Business registration history
- Verified company information
Method 3: DBD Certificate Verification Service
- In-Person: Visit DBD office with company name or registration number
- By Mail: Request verification letter (small fee, 5-7 days processing)
- By Phone: Call 1570 (government call center; ask for English support)
Information You Can Verify:
- Company legal name (Thai and English)
- Registration number and date
- Registered capital amount
- Director names and details
- Shareholder information (usually names only)
- Company status (active, dissolved, suspended)
- Registered office address
- Business objectives
For Foreigner Investors:
- Verify legitimate business registration
- Check for desired company name availability
- Research potential business partners
- Verify director credentials before entering agreements
- Confirm company active status
Red Flags When Checking Registration:
- Company registered very recently (possible scam)
- Directors with no traceable background
- Multiple address changes in short period
- Inactive status (not currently operating)
- Suspended or revoked status
Use Cases:
- Checking if desired company name is available
- Verifying supplier/vendor legitimacy
- Background check on potential business partners
- Due diligence before investment
- Confirming competitor information
Q: How can I check if the company is registered?
A: Quick verification methods:
Step 1: Online Search (Fastest)
- Visit www.dbd.go.th or www.companieshouse.co.th
- Search by company name or registration number
- Results display immediately
- Free access
Step 2: Interpretation of Results
If Company Found:
- Registration number displayed (proof of legitimacy)
- Details include directors, capital, date of registration
- Check registration date matches company claims
- Verify business description matches stated activities
If Company Not Found:
- Name doesn’t match exactly (search again with variations)
- Company may not exist (major red flag)
- Recently registered but not yet in database (rare)
- Possibly dissolved or suspended
Step 3: Red Flags
When to Be Suspicious:
- No search results when full company name used
- Conflicting information between sources
- Suspended or dissolved status
- Directors with no traceable background
- Capital amount suspiciously low or high for business type
- Recently incorporated (high-risk scenario)
Step 4: Deeper Verification (If Needed)
Contact DBD directly:
- Phone: 1570 (government hotline)
- Website: www.dbd.go.th/contact
- Email: Request verification letter (small fee applies)
- Request confirmation of specific details
Common Uses:
- Checking legitimacy of company before signing contracts
- Verifying supplier or vendor information
- Researching potential business partners
- Due diligence before making deposits
- Confirming competitor company details
Golden Rule: If company search shows no results after thorough search, do not proceed with the company. Unregistered companies operating in Thailand are illegal.
Q: Can a foreigner own 100% of a business in Thailand?
A: Yes, with specific pathways:
1. Board of Investment (BOI) Promotion
- Available for: Manufacturing, technology, tourism, renewable energy, medical services, agriculture, business process outsourcing
- 100% foreign ownership allowed in approved sectors
- Timeline: 3-4 months for approval
- Process: Submit business plan, financial projections, receive BOI certificate
2. Foreign Business License (FBL)
- Available for: Any restricted business sector
- 100% foreign ownership permitted
- Timeline: 3-5 months for Ministry approval
- Requirements: ฿2M capital, business plan, Thai economic benefit demonstration
3. Treaty of Amity (US Citizens Only)
- Exclusive advantage for US citizens and US-incorporated companies
- 100% ownership in Treaty-protected sectors
- No FBL needed
- Timeline: Same as standard registration (3-7 days)
- Cost-effective option
4. Unrestricted Sectors
- Some business activities not subject to FBA restrictions
- Examples: Software development (non-professional), certain trading activities, manufacturing
- Can be 100% foreign-owned without special licenses
- Requires research to identify unrestricted vs. restricted activities
Without Special Status:
- Standard limit is 49% foreign ownership
- Remaining 51% must be held by Thai nationals
- This structure is “Thai-majority” and subject to fewer restrictions
Recommendation: If 100% ownership essential to your business model, rank options:
- Treaty of Amity (if US citizen): Fastest, cheapest
- BOI Promotion (if eligible): Fast if business qualifies
- Foreign Business License: Always available but slower process
- Legitimate Thai Partnership (49% foreign): Avoids delays, provides credibility
Attempting to use nominee arrangements to hide foreign ownership is illegal and risks company dissolution plus criminal prosecution.
Q: What is the equivalent of companies House in Thailand?
A: Thailand’s equivalent entities:
Primary Equivalent: Department of Business Development (DBD)
- Function: Official national registry for all Thai companies, partnerships, and business entities
- Website: www.dbd.go.th
- Responsibilities:
- Company registration and name reservation
- Maintains business registry
- Issues Certificates of Incorporation
- Tracks business compliance
- Processes amendments and changes
Secondary Equivalent: Companies House Thailand
- Website: www.companieshouse.co.th
- Function: Private company providing enhanced search capabilities and verified company information
- Services:
- Advanced company search
- Director and shareholder lookup
- Financial data compilation (where available)
- Business intelligence and reports
Key Differences from UK Companies House:
- Thailand’s DBD focuses on registration and compliance
- Companies House Thailand is a private service provider (not government)
- Less public financial information disclosure (Thailand has weaker transparency requirements)
- No public shareholder registers (unlike UK)
- Limited director accountability compared to UK system
What You Can Look Up:
- Company registration status
- Director names and details
- Company capital information
- Registration date and address
- Business objectives/purposes
- Shareholder names (in some cases)
Limitations:
- No access to detailed financial statements (unless company publicly listed)
- Shareholder details not fully public (privacy protection)
- Amendment history limited
- No electronic filing visibility (unlike some systems)
For Foreigners:
- DBD website has English interface (limited, but functional)
- Companies House Thailand website offers English access
- Both allow free company name searches
- Fees apply for detailed reports or certified documents
Practical Use:
- Verify company legitimacy before doing business
- Check potential partner background
- Research competitor information
- Determine if desired company name is available
- Confirm business registration status
Thailand’s system is less transparent than UK’s Companies House, but provides sufficient information for basic verification and due diligence purposes.
Your Path to Thailand Business Success
Establishing a legitimate, compliant business in Thailand is entirely achievable for foreign entrepreneurs with proper planning and professional guidance. The Department of Business Development’s modernized DBD Biz Regist platform has streamlined registration to just 3-7 business days, making Thailand one of Southeast Asia’s most efficient jurisdictions for business formation.
Key Takeaways:
- Choose the Right Structure: Thai-majority companies (49% foreign) offer simplicity without FBL delays; FBL or BOI for 100% ownership; Treaty of Amity for US citizens provides fastest 100% ownership path.
- Prepare Thoroughly: Success depends 80% on preparation, 20% on registration execution. Capital sourcing, partner selection (if applicable), and document preparation are critical.
- Comply from Day One: Tax registration, work permits, VAT, social security—handle these immediately after company registration. Compliance problems are far more expensive to fix later.
- Engage Professionals: Thai lawyer for MOA drafting, accountant for tax compliance, and potentially business advisor for FBL/BOI applications save significant time and money.
- Maintain Records: Meticulous documentation of capital sources, shareholder agreements, contracts, and financial records protect your investment and satisfy Thai authorities.
- Plan for Growth: Design capitalization, shareholder structures, and governance carefully—founder disputes or regulatory issues later are expensive to resolve.
Thailand’s business environment continues improving for foreign investors. With approximately 10,000+ foreign-owned companies registering annually and thousands thriving long-term, success is definitely possible. Your disciplined approach to setup and compliance will position your business for sustainable growth in one of Asia’s most dynamic markets.
Additional Resources and Support
Official Government Contacts:
- DBD Biz Regist: www.bizregist.dbd.go.th
- Department of Business Development: www.dbd.go.th | Phone: 1570
- Board of Investment Thailand: www.boi.go.th | Phone: +66 (0) 2553-8111
- Revenue Department: www.rd.go.th
Recommended Service Providers Categories:
- Thai law firms with foreigner business specialization
- International accounting firms (KPMG, EY, Deloitte, BDO operations in Thailand)
- Business consulting firms focused on startup establishment
- Immigration services specializing in business visa and work permits
Language Support:
- Many government agencies now offer English-speaking support lines
- Larger Thai law firms provide bilingual services
- International business centers in Bangkok (AEC, ASBAC) offer guidance
- Expat business networks and chambers of commerce provide peer support
Final Note: This guide represents comprehensive research on Thailand’s business registration as of January 2026. Regulations change periodically—always verify current requirements with the Department of Business Development or qualified legal counsel before finalizing registration. The detailed information herein provides a solid foundation for understanding your options and making informed decisions about establishing your Thai business.
