Starting a business in Thailand is an exciting opportunity, thanks to its vibrant economy, strategic location in Southeast Asia, and government incentives for entrepreneurs. Whether you’re a local or a foreign investor, registering a company in Thailand can open doors to new markets and growth. This guide walks you through how to register a company in Thailand, covering every step of the process, requirements, costs, and comparisons of business structures.
Why Start a Business in Thailand?
Thailand’s booming economy, strong infrastructure, and pro-business policies make it a hotspot for startups and expansions. The country’s strategic position as a gateway to ASEAN markets, coupled with incentives from the Board of Investment (BOI), attracts entrepreneurs worldwide. From tech startups to restaurants, Thailand offers opportunities across industries. But before you dive in, understanding how to register a company in Thailand is key to getting started on the right foot.
Benefits of Registering a Company in Thailand
- Access to Markets: Connect with ASEAN countries, China, and India.
- Tax Incentives: BOI-promoted businesses enjoy tax breaks and relaxed foreign ownership rules.
- Cost-Effective Workforce: Skilled labor at competitive rates.
- Streamlined Process: Recent updates, like the e-Registration system launched in 2025, make setup faster.
Step-by-Step Guide to Registering a Company in Thailand
The most common business structure for foreigners is the Thai Limited Company, similar to a Limited Liability Company (LLC) elsewhere. Below, I’ll break down the steps to register one, based on the latest 2025 regulations.
Step 1: Choose a Business Structure
Before registering, decide on the type of business entity that suits your goals. Options include:
- Thai Limited Company: Most popular for foreigners, requiring at least three shareholders. Foreigners can own up to 49% unless approved for more via BOI or a Foreign Business License (FBL).
- Representative Office: For non-revenue activities like market research, limited to specific tasks.
- Branch Office: For revenue-generating activities under a foreign parent company.
- Partnership: Less common for foreigners due to limited liability protections.
Comparison of Business Structures
Structure | Ownership | Liability | Setup Time | Best For |
---|---|---|---|---|
Thai Limited Company | 51% Thai (unless BOI/FBL) | Limited to investment | 3–7 days | Most businesses, startups |
Representative Office | 100% foreign | Parent company liable | 2–4 weeks | Market research, coordination |
Branch Office | 100% foreign | Parent company liable | 4–8 weeks | Established foreign companies |
Partnership | Varies, often Thai majority | Varies (unlimited/limited) | 1–2 weeks | Small, local-focused businesses |
Tip: A Thai Limited Company is ideal for most foreigners due to its flexibility and limited liability.
Step 2: Reserve Your Company Name
Your company name must be unique, end with “Limited,” and comply with Department of Business Development (DBD) rules. Here’s how to reserve it:
- Check Availability: Use the DBD’s online portal (www.dbd.go.th) to check if your name is available. It can’t resemble an existing company’s name in Thai or English.
- Submit Three Names: Provide three name options, ranked by preference, to increase approval chances.
- Get Approval: The DBD typically approves within 1–3 days. The name is reserved for 30 days, so move to the next step quickly.
Example: If you want “Sunrise Ventures Limited,” also submit “Sunrise Holdings Limited” and “Sunrise Solutions Limited” as backups.
Step 3: Prepare and File the Memorandum of Association (MOA)
The MOA outlines your company’s details and is filed with the DBD. It includes:
- Company name (approved from Step 2).
- Registered address (can be a virtual office if you don’t have a physical one).
- Business objectives (e.g., software development, hospitality).
- Registered capital (minimum 2 million THB per foreign employee for work permits).
- Names of at least three promoters/shareholders.
Note: Foreigners need a Thai shareholder holding at least 51% unless applying for BOI/FBL exemptions. Thai shareholders must provide a bank statement proving funds for their share value.
Cost: Filing the MOA costs 200 THB in stamp duty.
Step 4: Hold a Statutory Meeting
Convene a meeting to finalize key details:
- Approve the MOA and Articles ofව
System: Association.
- Draft and approve bylaws.
- Elect the Board of Directors and appoint an auditor.
- Set the share structure (e.g., 51% Thai, 49% foreign).
Tip: You need at least one director (Thai or foreign) and two shareholders. If a foreign director signs documents, they’ll need a work permit later.
Step 5: Register the Company
Submit the MOA, bylaws, and registration application to the DBD within three months of the statutory meeting. Pay the registration fee, calculated at 5 THB per 1,000 THB of registered capital (minimum 20,000 THB, maximum 250,000 THB).
Timeline: With the new e-Registration system, this takes about 3–7 days.
Internal Link: For more on navigating Thai business laws, check out our guide on Understanding Thailand’s Foreign Business Act.
Step 6: Obtain Tax ID and VAT Registration
Within 60 days of incorporation, apply for a Corporate Income Tax (CIT) ID at the Revenue Department. If your annual turnover exceeds 1.8 million THB or you employ foreigners, register for Value Added Tax (VAT) within 30 days.
Cost: No additional fee for tax ID, but VAT registration may involve ongoing filing costs.
Step 7: Open a Corporate Bank Account
After receiving your Certificate of Incorporation, open a bank account. Required documents include:
- Company registration certificate.
- MOA and bylaws.
- IDs/passports of shareholders (holding >25%) and directors.
- Board resolution authorizing the account.
- Minimum deposit (500 THB or more, depending on the bank).
Note: Some banks require a 15–30-day waiting period post-incorporation.
Step 8: Register for Social Security (If Applicable)
If you hire employees (Thai or foreign, aged 15–60), register with the Social Security Office within 30 days of their start date. This ensures benefits like disability and maternity coverage.
Step 9: Obtain Additional Licenses (If Needed)
Certain industries (e.g., restaurants, tourism) require specific licenses. If foreigners own more than 49%, a Foreign Business License (FBL) may be needed, which can take 3–6 months.
Financial and Cost Analysis
Registering a company in Thailand involves several costs. Here’s a breakdown:
- Government Fees:
- MOA filing: 200 THB.
- Registration fee: 20,000–250,000 THB (based on capital).
- Service Fees: Hiring a firm like Reliance Consulting costs 20,000–30,000 THB for streamlined registration.
- Registered Capital: Minimum 2 million THB per foreign employee for work permits; fully paid-up capital recommended to avoid Special Business Tax (SBT).
- Virtual Address: 18,000 THB/year for non-VAT companies.
- Bank Account Setup: 3,000 THB for document preparation.
- Additional Costs: Translation (1,000–5,000 THB), notary services (1,000–3,000 THB), and potential license fees.
Total Estimated Cost: 25,000–300,000 THB, depending on capital and services. Ongoing costs include annual audits (10,000–50,000 THB) and tax filings.
Detailed Analysis of the Registration Process
The process is straightforward but requires attention to detail due to Thailand’s strict regulations, like the Foreign Business Act (FBA), which limits foreign ownership to 49% in most cases. The 2025 e-Registration system has reduced setup time to 3–7 days for simple Thai Limited Companies, though BOI or FBL applications can take months. Challenges include:
- Language Barriers: Documents must be in Thai or include certified translations.
- Nominee Risks: Using Thai nominees to bypass ownership rules violates the FBA and can lead to penalties.
- Compliance: Annual financial statements, tax filings, and Social Security registration are mandatory.
BOI Benefits: Companies in promoted sectors (e.g., tech, manufacturing) can get 100% foreign ownership, tax exemptions, and relaxed work permit rules.
Comparison of Registration Options
- Thai Limited Company: Fast, cost-effective, and flexible but requires Thai majority ownership unless BOI-approved.
- BOI Company: Offers tax breaks and 100% foreign ownership but involves a longer approval process (1–6 months).
- Employer of Record (EOR): No local entity needed, ideal for quick market entry, but less control.
Example: A tech startup might choose a BOI-promoted Thai Limited Company for tax incentives, while a consultancy might opt for an EOR to avoid setup hassles.
Tips for a Smooth Registration
- Work with Experts: Firms like Reliance Consulting simplify compliance.
- Plan Capital: Ensure enough capital for work permits (2 million THB per foreign employee).
- Check Licenses: Verify industry-specific requirements early.
- Use e-Registration: The DBD’s online system saves time.
Conclusion
Registering a company in Thailand in 2025 is easier than ever, thanks to streamlined processes and digital tools. By following these steps—choosing a structure, reserving a name, filing the MOA, and handling taxes and banking—you can set up a Thai Limited Company in as little as 3–7 days. Understanding how to register a company in Thailand ensures compliance with local laws and maximizes opportunities like BOI incentives. Whether you’re launching a startup or expanding a global business, Thailand’s dynamic market is ready for you. Start today, and turn your business dreams into reality!