Requirements

• Shareholders and Directors
  • Shareholders: At least two natural persons are required as promoters, and each should hold at least 1 share. For joint-venture companies in restricted industries, Thai shareholders must hold a majority stake of 51%.
  • Directors: At least 1 director and 1 auditor are needed. Directors can be of any nationality, but if a foreigner is a director, a work visa or long-term residence permit is required.
• Registered Capital
  • General Requirement: The minimum registered capital for a limited company is 2 million Thai baht, and 25% of it must be paid up within 15 days after the company’s establishment.
  • For BOI Companies: The amount of registered capital should be determined according to the investment plan approved by the BOI.
• Business Address: A local business registration address in Thailand is needed, and a lease contract or photocopy of the property ownership certificate is required as proof.
• Business License: For wholly foreign-owned companies in industries encouraged by the Thai government, an Investment Promotion Certificate from the BOI and a Foreign Business Operation License (FBC) from the Department of Business Development are required.
• Other Requirements: The business activities of the company should not be on the list of those reserved for Thai nationals1. If they are, the necessary permits must be obtained through the Foreign Business Act.

Registration Process

• Company Name Reservation4: Submit 3 English company names, which will be transliterated into Thai and submitted to the Department of Business Development. The verification usually takes 2-3 business days.
• Prepare Registration Documents
  • Memorandum and Articles of Association: Clearly state the company’s name, business scope, registered capital, shareholder information, etc.
  • Proof of Identity: Copies of passports and visa status descriptions of all shareholders and directors.
  • Proof of Address: A lease contract for the registered address in Thailand, attached with the landlord’s ID and title deed.
  • Proof of Capital Deposit: Show that 25% of the paid-in capital has been transferred to the account.
• Submit Application: Submit the application to the Department of Business Development.
• Obtain Business License: It usually takes 3 working days to obtain the business license after the application is approved4.
• Seal Registration: Register the company seal at the Department of Business Development4.
• Bank Account Opening4: After the company is established, go to the bank to open an account. The director must go to the bank for face-to-face signing.
• Tax Registration: Apply for a Tax Identification Number (TIN) and VAT registration at the tax office