Company Registration
in Thailand: Clear, Easy & Practical Guide 2025

What is Company Registration in Thailand?

Company registration in Thailand refers to the legal process of establishing a business entity in the country. This ensures that your company is recognized as a legitimate business by the Thai government. The Department of Business Development, or DBD, is the government body responsible for regulating company registration in Thailand.

Who are Eligible to Register a Company in Thailand?

To incorporate a company in Thailand, you must meet the following conditions:

Minimum Shareholders: You must have at least three shareholders to start a Thai limited company.

Foreign Ownership: If your company is not promoted by the Board of Investment (BOI), you can only have 49% foreign ownership. This means at least 51% of the company must be owned by Thai nationals.

BOI-Promoted Companies: If your company is promoted by the BOI, you can have up to 100% foreign ownership.

Minimum Requirement: You must have at least one director for your company.

Nationality: There are no specific rules about nationality. Both Thai and foreign individuals can be directors of the company.

Thai-owned companies generally do not have a strict minimum registered capital requirement. However, if your company is considered a foreign company, you need to follow these rules:

For companies involved in activities listed in the Foreign Business Act:

• The minimum registered capital would be the greater of 25% of your company's average yearly expenses for the first three years of operation.

For companies not engaging in activities specified in the FBA:

• The minimum registered capital is 2 million baht

For companies hiring foreign employees:

• Your company must have at least 2 million baht in registered capital for each foreign worker you want to employ.

The company must have a physical registered address in Thailand.

Why Should You Register a Company in Thailand?

Here, are the reasons for company registration in Thailand:

Ease of Doing Business

In 2024, Thailand was considered the 12th easiest country for conducting business. The country has made many processes simpler, such as registering a company and filing taxes. Foreign investors can also get help from the Board of Investment to understand the business registration process and investment opportunities in Thailand.

Favorable Market Conditions

Thailand has a population of more than 70 million people. Its middle class is growing steadily, which means more people can afford to spend on goods and services.

Plus, important sectors like tourism, manufacturing, and real estate are doing well. This situation creates many opportunities for businesses to succeed.

Good Geographic Location

Thailand is situated in the middle of Southeast Asia. It connects businesses to major markets like China, India, and Singapore. Moreover, the country has developed efficient airports, ports, and highways. This makes it a regional center for trade and logistics.

Low Wage Rates

The cost of hiring employees in Thailand is much lower than in many other countries. The minimum wage varies from 330-370 baht per day based on the province. Additionally, Thailand has a large number of skilled workers in sectors such as manufacturing, IT, and hospitality.

Efficient Infrastructure

Thailand has a strong infrastructure that supports businesses. The country provides dependable electricity and high-speed internet. Its cities feature modern transportation systems like the BTS Skytrain and MRT subway in Bangkok. Thailand also has many industrial parks and special economic zones that are created to help businesses thrive.

Incentives for Foreign Investors

The Thai government provides several advantages for foreign investors. The Board of Investment offers incentives such as tax exemptions, lower import duties, and the option for 100% foreign ownership in certain industries. Additionally, there financial support programs available for businesses in areas like technology, renewable energy, and manufacturing.

Documents Required To Incorporate a Private Limited Company in Thailand

When you are incorporating a private limited company in Thailand, you need to provide these documents:

What Is The Company Registration Process in Thailand?

Follow these steps to register a company in Thailand.

To reserve the company name, you can choose one of the following options:

• Fill out and submit a signed Name Reservation Form to the Department of Business Development.
• Use the Department's website to complete the form online.

When you submit the form, you should include your preferred name along with two alternative names. The registrar will review your application to ensure that there are no existing names that are too similar to yours. They will also check that your chosen names comply with all relevant regulations.

If your first choice is already taken or does not meet the necessary rules, it will be rejected. In this case, the registrar will look at the backup names you provided. The review process typically takes about two to three business days.

Once your name is approved, the reservation will be valid for 30 days. Remember, this reservation cannot be extended.

Once your company name reservation is approved, you need to submit the Memorandum of Association to the Department of Business Development at the Ministry of Commerce.

For a private limited company, the MOA should include the following details:

• The company's name.
• The province where the company will operate.
• The business activities the company will engage in.
• The amount of registered capital.
• The names of the promoters involved.

You must also provide information about the capital. This includes the number of shares and their par value. Even if the authorized capital is only partly paid, it must all be issued at this stage.

For a public limited company, the MOA needs to contain these important elements:

• The company's name.
• The purpose of offering shares to the public.
• A clear description of the company's objectives, specifying the categories of business.
• The registered capital, including the type, number, and value of shares.
• The province where the company will be based.
• The names, birth dates, nationalities, and addresses of the promoters.
• The number of shares each promoter has subscribed to.

Next, you will need to organize a statutory meeting. This meeting will involve making several crucial decisions, such as:

• Approve the Articles of Association: This document outlines the rules for how the company will operate.
• Review Contracts and Expenses: Check and confirm any contracts the promoters have signed and the costs they have incurred while promoting the company.
• Decide on Promoter Compensation: Determine if the promoters will receive any payment and how much it will be.
• Determine Preference Shares: Decide how many preference shares will be issued and what rights these shares will have.
• Decide on Share Issuance: Decide how many ordinary shares or preference shares will be issued as fully or partly paid-up, and specify how much will be considered paid-up.
• Appoint Directors and Auditors: Choose the first directors and auditors and clarify the responsibilities of the directors.

After the statutory meeting, the promoters need to hand over all business operations to the directors of the company.

You must submit your application to the Department of Business Development within three months after the statutory meeting. If you do not register within this time, the statutory meeting will be considered invalid. If you wish to register again, the promoters will need to set up a new meeting for those interested in buying shares.

You can register company online through the DBD E-registration portal.

If your company is subject to corporate income tax, you must get a tax ID card and number from the Revenue Department. You need to complete this registration within 60 days after your company is incorporated.

Step 1: Prepare the necessary documents

For Corporate Entities

• Certificate of Incorporation issued by the Department of Business Development
• Memorandum of Association and Articles of Association
• Company Affidavit showing the company’s registered address, directors, and authorized signatories.
• Shareholder List (updated and certified).
• Lease Agreement for the company’s office, with proof of ownership from the landlord.
• Copy of Director's Identification (passport for foreigners or Thai ID for locals).
• Power of Attorney (if a third party is handling the process on behalf of the company).

For Individual Taxpayers

• Copy of the individual's Thai ID or passport (for foreigners).
• Work permit (for foreign individuals working in Thailand).
• Proof of residence in Thailand (utility bill or lease agreement)

After the statutory meeting, the promoters need to hand over all business operations to the directors of the company.

Step 2: Determine the Type of Tax Registration

The type of tax registration depends on the business activity and annual revenue:

• Tax Identification Number: This is necessary for all businesses operating in Thailand.
• Value Added Tax: If your company’s turnover exceeds 1.8 million baht, you must register for VAT.
• Withholding Tax Registration: This is required if your company needs to deduct and pay withholding tax on payments made to contractors or employees.

Step 3: Visit the nearest Revenue Department office that corresponds to your registered company address.

Step 4: Fill out and submit the application for a Tax Identification Number. If applicable, include your VAT registration as well.

Step 5: Complete the Application Process for Tax Identification Number

For Corporations

• Fill out the application form for a TIN for businesses.
• Gather and provide all required documents.
• Submit the completed form and documents to your local Revenue Department office.
• You can expect to receive your TIN within 1 to 3 business days.

For Individuals

• Complete the application form
• Submit the form along with proof of your identity and residence.
• Your TIN will be issued immediately after your information is verified.

Step 6: Register for VAT (if applicable)

• Complete the VAT registration form.
• Attach the following documents:
• A copy of your Certificate of Incorporation and Company Affidavit.
• The lease agreement for your company’s office.
• Copies of the director's ID and proof of residence.
• Photos of your company’s signboard, office space, and operations.
• Submit the application to the Revenue Department office within 30 days after you meet the VAT requirement.
• After your application is reviewed, the Revenue Department will issue your VAT registration certificate.

You need to register for an Employer account under the Social Security Act. You must complete this registration with the Social Security Office within 30 days of when your employee begins their job.

Required Documents

For the Company

For the Director/Employer

For the Employees

The registration process is typically fast. If you provide all the necessary documents to the Social Security Office, you can finish the registration in just one day.

To open a corporate bank account in Thailand, follow these steps:

Step 1: Research different banks to find one that fits your business needs. Some well-known banks in Thailand include:

• Bangkok Bank
• Kasikorn Bank (KBank)
• Siam Commercial Bank
• Krungthai Bank

Step 2: Visit the branch of the bank you have selected and bring the following documents:

• Company registration certificate
• Memorandum of Association
• Tax identification number
• List of shareholders
• Copy of ID cards, passports or work permits of the directors
• Proof of the company's office address.
• Some banks may require the official company seal
• A resolution authorizing the opening of the account
• Kasikorn Bank (KBank)
• Siam Commercial Bank
• Krungthai Bank

Step 3: Fill out the account opening forms provided by the bank.

Step 5: Most banks will ask for an initial deposit to activate your account. The required amount will vary depending on the bank and type of account, so make the payment.

Step 6: Once your application is approved, the bank will give you:

• Your corporate bank account number
• An ATM or debit card (if applicable)

How Much Does It Cost To Start a Business in Thailand?

Below is a list of Thailand company registration costs.

• Fee: Free of charge. This service is provided by the Department of Business Development.

For a Private Limited Company

• The official fee is 50 baht per 100,000 baht of registered capital. A fraction of 100,000 baht is regarded as 100,000 baht.
• Minimum fee: 500 baht
• Maximum fee: 25,000 baht

For a Public Limited Company

• The official fee is 1,000 baht per 1,000,000 baht of registered capital. A fraction of 1,000,000 baht is regarded as 1,000,000 baht.
• Maximum fee: 25,000 baht

For a Private Limited Company

• Fee Structure: 500 baht for every 100,000 baht of registered capital
• Minimum fee: 5,000 baht.
• Maximum Fee: 250,000 baht.
• Special Consideration: If the registered capital is less than 100,000 baht, it is still treated as 100,000 baht for fee calculation.

For a Public Limited Company

• Fee Structure: 1,000 baht for every 1,000,000 baht of registered capital.
• Maximum Fee: 250,000 baht.
• Special Consideration: If the registered capital is less than 1,000,000 baht, it is still treated as 1,000,000 baht for fee calculation.

• Application fee: 100 Baht
• Work permit fee: The fee depends on the validity of the permit:

• 750 Baht for three months
• 1,500 Baht for three to six months
• 3,000 Baht for six months to one year

• Virtual Office: 3,000–5,000 baht per month.
• Physical Office: Costs can change significantly based on the location of the office in Thailand.

• Fee: 300–500 baht

How to Open a Company in Thailand as a Foreigner?

Follow these steps to start a business in Thailand as a foreigner:

Think of a business idea that matches your interests and fits the opportunities available in Thailand. Look for industries that welcome foreign investment, like tourism, technology, or manufacturing.

Review the Foreign Business Act to ensure your idea is not in a restricted category. If it is restricted, you will need to have a Thai partner or obtain a Foreign Business License.

Conduct thorough research on the Thai market to understand your target audience and competitors. If you can, visit Thailand to find out how much demand there is for your product or service in Thailand.

company registration in Thailand for foreigners, the first step is to select a unique name for your company and submit an application to reserve it through the Department of Business Development. Make sure the name follows Thai naming rules. This process is free and usually takes about 1 to 3 business days to complete.

Create your company’s Memorandum of Association. This document should include the company name, the amount of registered capital, details about the shareholders, and the goals of the business.

Finish your company registration by submitting the approved Memorandum of Association, the Articles of Association, and any other necessary documents to the Department of Business Development.

You need to register for a Tax Identification Number with the Thai Revenue Department within 60 days after company incorporation. To complete the process, you will need your company registration certificate and the application form.

If your business expects annual revenue exceeding 1.8 million baht, you must register for Value Added Tax.

Select an office location that fits your business type, budget, and is close to your clients and employees. After finding the right spot, discuss the lease terms and submit the required documents.

Recruit qualified employees and make sure to follow Thai labor laws. Additionally, you must register your employees for social security and contribute 5% of their monthly salaries. This payment cannot exceed 750 baht for each worker.

If you or any foreign workers will be employed in Thailand, you need to apply for work permits. Before you can apply for the permit, you must obtain a non-immigrant “B” visa. The permit costs between 750–3,000 baht depending on the duration.

Certain industries, like food services or import/export businesses, need special licenses to operate. It is important to check with the appropriate authorities, such as the Ministry of Commerce. You will also need to prepare the necessary documents for the application.

To promote your business, create a marketing plan that suits the Thai market. Use popular social media platforms such as Facebook, Instagram, and YouTube to reach your audience. You can also invest in search engine optimization and Google Ads to improve your online presence.

Once you have finished all the registrations and preparations, you can launch business in Thailand.