How to Register a Company in Thailand

Starting a business in Thailand can be a complex process, but with the right guidance, it can be smooth and efficient.

At FRANK LEGAL & TAX, we offer comprehensive support to ensure your company registration in Thailand is handled professionally and quickly.

Why Choose Thailand for Your Business?

Strategic Location

Thailand’s strategic location in Southeast Asia makes it an ideal hub for business activities across the region. It offers easy access to major markets, including China and India, and serves as a gateway to the ASEAN Economic Community.

Robust Economy

Thailand boasts a strong and diversified economy with steady growth. It has well-developed infrastructure, a skilled workforce, and a pro-business environment, making it an attractive destination for foreign investors.

Government Incentives

The Thai government offers various incentives to attract foreign investment, including tax breaks, investment allowances, and simplified regulatory procedures. The Board of Investment (BOI) provides additional incentives for businesses in targeted industries.

Types of Business Structures in Thailand

Understanding the different types of business structures available in Thailand is crucial for making an informed decision about how to set up your company.

Thai Limited Company

The most common business structure in Thailand is the Thai Limited Company, which requires a minimum of three shareholders and one director. Foreign ownership is generally limited to 49%, unless specific exceptions apply.

Representative Office

A Representative Office is ideal for foreign companies looking to establish a presence in Thailand without engaging in commercial activities. This structure allows for market research and liaison activities but does not permit revenue generation.

Regional Office

A Regional Office supports and coordinates the activities of affiliated companies in the region. It cannot earn income and is primarily used for administrative purposes.

Special Options for Foreign Investors

BOI Promoted Companies

Companies promoted by the BOI can benefit from numerous incentives, including tax exemptions and reduced import duties. BOI promotion is available for businesses in targeted industries such as technology, renewable energy, and manufacturing.

Foreign Business License (FBL)

Activities not promoted by the BOI may still be eligible for a Foreign Business License. Such license permits carrying on business as a majority or wholly foreign-owned entity, however it does not come with any particular incentives. 

US-Thai Treaty of Amity

The US-Thai Treaty of Amity allows American companies to maintain a majority shareholding in a Thai company, granting them the same rights as Thai nationals.

Joint Venture

A Joint Venture is usually set up in the form of a limited liability company. It allows foreign investors to partner with Thai individuals or entities, combining resources and expertise. This structure is flexible and can be tailored to meet specific business needs.

Step-by-Step: How to Register Your Company in Thailand

1. Reserve Your Company Name

The first step in registering a company is reserving a unique name with the Department of Business Development (DBD). Our team assists in checking the availability and reserving the desired name.

2. Document Preparation and Filing

We handle the preparation and filing of all necessary documents, including the Memorandum of Association, Articles of Association, and statutory meeting minutes.

Certain businesses require specific licenses and permits to operate legally in Thailand. We identify and obtain the necessary approvals for your business activities.

3. Official Company Registration

Once the documents are prepared, we submit them to the DBD for official registration. This process includes obtaining a company registration certificate and a company tax ID.

Protecting your intellectual property is vital. We assist with trademark registration, patents, and copyright protection to safeguard your business assets.

4. Bank Account Setup

We assist in opening a corporate bank account, ensuring all required documentation is in place and the process is streamlined.

5. VAT and Social Fund Registration

If your company’s revenue exceeds the threshold, VAT registration is mandatory. Additionally, we help register your company with the Social Security Office to comply with employee benefits regulations.

Complete Your Company Formation with Our Comprehensive Services

Post-Registration Support

After your company is registered, we offer continuous support to ensure compliance with Thai laws and regulations.

Accounting and Audit Requirements

Thai law mandates that companies maintain accurate financial records and undergo annual audits. Our team provides comprehensive accounting services and liaises with auditors to ensure compliance.

Ongoing Corporate Compliance

We assist with ongoing corporate compliance, including filing annual returns, maintaining statutory records, and ensuring timely submission of all required documents.

Business Advisory Services

Our business advisory services help you navigate the complexities of operating in Thailand. We offer strategic advice on market entry, business expansion, and regulatory compliance.

Compliance & Corporate Governance

We help with your company’s compliance framework, shaping your compliance policy and structure. We also ensure your company follows good corporate governance procedures, presenting the best side of your organization to both internal and external audiences.

Structured Finance & Insolvency

Our lawyers are ready to understand the complexities of your financial situation and offer structured finance solutions. We help manage your level of risk and handle all legal matters associated with corporate restructuring and insolvency.

Management & Confidentiality Agreements

Our expert team meticulously examines any documents relating to a business or commercial transaction to avoid potential conflicts that could lead to future litigation.