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Setting up a company in Thailand

15/10/2024

Setting up a business in Thailand is a relatively quick and straightforward process. In this article, you'll find all the necessary information...

The most common business type is the *Private Limited Company*,. Foreign individuals and companies can generally own up to 49% of the shares. An exception is made for companies established through the *BOI* (Board of Investment), which can be fully owned by a foreign entity.

In standard companies with a maximum 49% foreign shareholding, there is a way to maintain full control. When establishing the company, one shareholder can be granted higher voting rights, and this shareholder can serve as the *Managing Director* with exclusive signing authority. This setup allows a foreign investor to have full control over the company, even without holding a majority share.

The process of establishing a company usually takes 3–4 business days.

*BOI companies* represent a specific category of businesses supported by the Thai government through investment incentives. The goal is to attract projects in areas like research and development (R&D), IT, or large investments that create jobs for Thai employees. BOI companies can be 100% owned by a foreign investor and receive various benefits, such as tax exemptions, work permits for foreign employees, and duty-free import and export of products.

If your business operates in technology, research, or IT, Thailand offers exciting opportunities through investments in BOI companies.

We work with a Thai agency and law firm that provide a full-service, turnkey solution for establishing a company, including the option to purchase an existing "dormant" company immediately.

If you're interested in this topic, feel free to contact us. We'll be happy to assist you

What You Need to Start a Company in Thailand:

  • Completed and signed original registration form – provided by us 
  • If you are not in Thailand at the time of signing, your signature must be verified at the Thai Embassy in your country. 

  • A copy of a valid passport

  • Two additional partners, at least one of whom must be Thai

  • If you don't have them, we can assist in finding partners in Thailand for you.

  • A company address – either rented premises or a virtual office address

  • We can help secure suitable premises or set up a virtual address for a reasonable annual fee.

  • Company registered stamp – arranged by us

  • Company name registration – arranged by us

  • Initial capital contribution, minimum 15 THB per partner

  • Administrative fee of 6500 THB for each million THB of capital

  • Accounting services – we'll connect you with an English-speaking, accredited accountant/auditor

  • If your company will be importing/exporting goods to or from Thailand, we can arrange an import/export license for you

  •  If your company plans to import goods to Thailand that require registration, such as food, medicine, or cosmetics, we'll secure the necessary permits and licenses for import and sale with the Thai FDA

Here's an example of the costs for setting up a company: 

  • Company Registration, Legal and Notarial Services, Documentation Issuance, and Tax Registration: 22,000 THB 
  • Administrative Fee (Stamp Duty): 6,500 THB 

  • Company Stamp Registration: 500 THB 
  • Opening a Corporate Bank Account: 5,000 THB 
  • Two Witnesses for Signature and Company Formation: 1,000 THB 

Here are some additional optional services: 

  • Virtual Office Address: Annual fee of 18,000 THB 
  • Thai Virtual Partner: Annual fee of 12,000 THB 
  • Export License:  5000 THB
  • FDA Product Certification: 25 000TBH 
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