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Offices| Aspect | Details |
|---|---|
| Timeline for Company Registration in Thailand | The timeline for company registration in Thailand is 1 to 3 weeks. |
| Fees for Company Registration in Thailand | The fees for company registration in Thailand start from $3800. |
| Benefits of Company Formation in Thailand |
The list of benefits of company formation in Thailand is as follows:
|
| Types of structures for business registration in Thailand |
The list of different types of structures for business registration in Thailand is as follows:
|
| Corporate Tax Rate in Thailand | The corporate tax rate in Thailand is 20% |
| Minimum Paid-Up Capital for Company Registration in Thailand | The minimum paid-up capital for company registration in Thailand is 2 million Thai Baht (THB) |
| Documents Required for Company Registration in Thailand |
The list of documents required for company registration in Thailand is as follows:
|
| Procedure for Business Registration in Thailand |
The procedure for business registration in Thailand is as follows:
|
| How can we help you with Company Formation in Thailand? |
Enterslice can help you with company formation in Thailand as given below:
|
Register Thai company with Enterslice experts and experience the merit of up to 100% tax exemption.
Looking to set up a company in Thailand? You’re at the right place! The Thai government offers ample support to foreigners and entrepreneurs, with incentives, infrastructure, and more. Thailand boasts a strategic location, steady economic growth, natural resources, strong export services, and a dynamic consumer market, making it an ideal place for foreign businesses.
The Foreign Business Act (FBA) governs company registration in Thailand and regulates the business operations of foreigners. For more information and a smooth process to register a Thai company, contact Enterslice to empower your dreams of Thailand company incorporation. Some of the important points to take in note before entering the Thailand market.
100% Foreign Ownership
20% Corporate Income Tax
10% Standard VAT
50+ Double Tax Agreements
No Local Director Required
Minimum Paid capital 2 million THB
Up to 100% Tax Exemption for 8 Yrs
Reasonable Operating Costs
Easier Visa and Work Permit Processes
The list of different types of structures for company registration in Thailand for foreigners is as follows:
This is the most preferred type of company for setting up a business in Thailand. It requires a minimum of 3 shareholders or promoters and one director. The shareholders' liability is limited to the amount of their shareholding.
The Board of Investment (BOI) is a government agency, under the Prime Minister, to promote investment in Thailand however, the applications are restricted to certain activities. 100% foreign ownership is allowed with a minimum capital requirement of THB 3 million or more, depending on the business activity.
A public limited company in Thailand is designed for large businesses and allows them to raise capital by issuing shares to the public. It requires a minimum of 15 shareholders and must comply with strict reporting, regulatory, and compliance requirements.
Setting up a branch office in Thailand allows foreign businesses to operate in the country while following local compliance and approval requirements. A branch office functions under the parent company's control and has a limited operational scope.
A representative office in Thailand is established solely for marketing and liaison purposes. While it cannot engage in commercial activities, it can promote the products and services of its parent company.
A Thailand limited partnership allows up to 49% foreign ownership without a Foreign Business License. It requires at least one limited partner and one general partner. The limited partner is liable only for their investment, while the general partner has unlimited liability for debts and obligations.
The list of requirements to register Thai company is as follows:
The list of benefits of company registration in Thailand for foreigners is as follows:
Thailand's strategic location serves as a gateway to Asian markets. As a member of ASEAN and a signatory of agreements like the ASEAN Free Trade Area (AFTA), it offers investors access to regional markets and benefits from free trade agreements with various countries.
The Thailand Board of Investment (BOI) supports start-ups and projects that boost the country's economy. Companies can apply for BOI promotion to gain 100% foreign ownership and access tax incentives for eligible activities.
Thailand is also considered one of the countries that provide ease of doing business as per the world ranking system. It is one of the significant benefits of company registration in Thailand.
Thailand currently has 10 Special Economic Zones (SEZs) covering 23 districts and 91 sub-districts. These zones support infrastructure development, offer investment incentives, and provide services for foreign workers.
Thailand has a low corporate tax rate, with a standard corporate income tax of 20%, which may vary based on the type of taxpayer.
Thai society is extremely supportive and receptive to foreign companies seeking to register company in Thailand. Global entrepreneurs consider this benefit of Thailand company incorporation.
Thailand has a diverse manufacturing sector producing jewellery, furniture, rubber, fish products, and toys, offering great opportunities for entrepreneurs.
The government of Thailand is highly innovative and forward-thinking in its approach and is keen to promote socioeconomic advancement and development. Over the past two decades, the concerned authorities have been working towards making Thailand's environment more favourable for foreign organizations and businesses.
Thailand also offers a large cost-efficient, and adaptable workforce as it has a large pool of skilled and educated workforce that can be further trained and developed.
The steps-by-steps procedure for business registration in Thailand:
The applicant must first reserve a company name with the Department of Business Development (DBD), Thailand. Three name options should be provided in order of preference, following Thai naming conventions. After review, the DBD will issue a reservation certificate for the approved name.
The next step is to prepare and sign essential documents, including the Memorandum of Association, the company registration application, and copies of IDs or passports of all shareholders and directors. These documents must be signed by the shareholders and directors.
Once the documents are complete, submit them to the Department of Business Development, Thailand, for official registration. This includes paying the registration fee and obtaining the Company Registration Certificate from the registrar.
After the applicant company receives the company registration certificate, it is mandatory to open a Thai bank account in the name of the registered company. Meanwhile, having a local bank account is crucial for managing the company finances and facilitating transactions, both domestically and internationally.
Lastly, apply for corporate income tax with the Revenue Department and, if applicable, register for Value Added Tax (VAT). The applicant must submit the Certificate of Incorporation and Tax ID.
Company registration in Thailand takes about 1 to 3 weeks. Given below is the timeline for Thailand company incorporation-
Submit name reservation request to the Department of Business Development, Thailand. The name must comply with Thai regulations.
Drafting company documents usually takes around 3 to 6 days. Documents include AoA, MoA, details of shareholders and directors, etc.
Submit the required documents to the Department of Business Development, Thailand. Pay the applicable registration fees.
The DBD, Thailand, reviews the application and issues a company registration certificate. Get a TIN from the revenue department.
Opening a bank account in Thailand takes around 2 to 6 working days. Our experts will assist you with opening a Thai Bank account.
The list of documents required for company registration in Thailand is as follows:
Identity proof of directors (Passport or Thai ID)
Identity Proof of Shareholders (Passport or Thai ID)
Details of Directors or Shareholders (Financial Documents)
Paid-up Capital Details
Proof of the Registered Office Address (Lease Agreement or Utility Bills)
Copy of Memorandum of Association
Copy of Article of Association
Registration Fee Payment Proof
Director’s Resolution for Opening the Bank Account
Bank Statement Confirming that the Shareholder has a Sufficient Balance to Subscribe to the Share of the Company
The list of compliances post business registration in Thailand is as follows:
A company, after obtaining a company registration in Thailand within 60 days, must receive a Tax ID card and registration number, especially for those who have to pay Corporate Income Tax (CIT) from the Thailand Revenue Department.
A business in Thailand that is responsible for paying value added tax (VAT) needs to apply for a VAT ID within 30 days of reaching THB 600,000 in sales.
After registering the company in Thailand, businesses must open a corporate bank account to access online banking services.
If a company registered in Thailand is planning to hire employees, registering with the Social Security Office (SSO) is a must. This registration with SSO will enable employees to access social security benefits such as healthcare, pension and unemployment benefits.
It is important for foreign entrepreneurs and employees to secure visas and work permits, typically, a non-immigrant “B” visa is required for a business activity.
The taxation system for company formation in Thailand is as follows:
Have a look at the profitable business options available for company formation in Thailand-
Businesses for Company Registration in Thailand for Foreigners
Top Industries to Register Thai Company
Enterslice has proved its mettle as one of the leading consulting firms for company registration in Thailand. Given below are the reasons why we are the first choice for Thai business registration-
Yes, foreigners can own a business after company formation in Thailand, the government in Thailand provides ample support, including infrastructure, an efficient workforce, tax allowances, etc. Additionally, the Thai Government’s Board of Investment (BOI) actively encourages foreigners to make foreign investments in Thailand.
The most popular business structure for company registration in Thailand for foreigners is the Thai limited company, as it can be set up within a small period of time and offers a Foreign Work Permit. Followed by BOI company, it is heavily promoted by the Thai government and provides huge incentives, primarily with tax breaks, 100% foreign ownership, land ownership, etc.
Indians can start a business in Thailand by first applying for a Non-Immigrant “B” (Business Visa) to enter the country for business purposes. Once they obtain this visa, they can establish a business in Thailand just like any Thai citizen.
Thailand’s corporate income tax (CIT) rate is 20%. Additionally, a withholding tax (WHT) applies to certain types of income received in Thailand by foreign companies that do not conduct business there.
The Thai business registration process takes one week to three weeks, depending upon the readiness of the necessary documents and the efficiency of the DBD (Department of Business Development), Thailand.
Yes, a foreigner can be a director in a Thai company if they meet all legal requirements under Thai law. However, restrictions apply if the company operates in industries regulated by the Foreign Business Act (FBA).
The minimum capital requirement for a Thai limited company is THB 2 million (USD 59,970.00). On the other hand, BOI-promoted companies or certain industries these requirements may vary.
Yes, after obtaining Thailand company incorporation, companies must submit annual financial statements and tax returns to the Revenue Department and Hold an annual general meeting (AGM) within four months of a fiscal year-end.
The list of benefits of company registration in Thailand is as follows:
The list of different types of business structures for company registration in Thailand is as follows:
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