1 - Company Name Registration at DBD
Reserve a company's name at the Department of Business Development (DBD). The approval period is 1-3 business days. The reservation will be valid for 30 days and cannot be extended.
2 - Prepare and Register MOA
The Memorandum of Association (MOA) shall include:
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Reserved company's name
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Location where the head office will be established.
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Details of the company's objectives
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Registered capital (at least 3 shares with at least THB 5 par value)
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Name, address, occupation, signature, and number of shares held by each promoter
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Declaration regarding the limited liability of the company
3 - Statutory Meeting
Promoters must hold a statutory meeting to:
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Adopt the Article of Association (optional)
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Fix the type of shares (ordinary vs. preference shares)
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Appoint the director(s) and auditor
4 - Share Capital Payment
Shareholders must pay at least 25% of the share capital invested into the limited liability company. The paid-up capital should be deposited into the company’s corporate bank account, and proper documentation must be maintained as evidence of the payment.
5 - DBD Registration
You must then proceed with the company´s incorporation with the Department of Business Development (DBD):
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Director (s) register the Article of Association
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The share capital payment is confirmed
6 - Tax Registration
All registered companies must obtain a tax ID and number from Thailand’s Revenue Department within 60 days of incorporation or the commencement of business operations to ensure compliance with Thai tax regulations. Additional registrations, such as VAT may be required depending on the nature of your business and the annual revenue threshold.
Advantages of Setting Up a Thai Limited Company
Limited Liability
The liability of the shareholders is limited to the capital invested
Full control
Foreigners can have control over the company by adjusting shares
Flexible Options
Engage in all business types with the approriate business licence
Visa, Work Permit and Bank Account
The company can sponsor visas and work permits for foreigners as well as apply for a corporate bank account
Limited Company Set Up Requirements - Thailand
Foreigners are generally limited to only 49% ownership of a private limited company. The share structure is usually 51% for Thai nationals and 49% for foreigners. However, foreigners are allowed to have majority voting rights and control through preference shares and weighted voting rights.
Foreigners who want to have 100% ownership of a private limited company shall be businesses that the Foreign Business Act (FBA) does not regulate; need to obtain a Foreign Business License if the business is under List 3 regulated in the FBA; or need to obtain approval from the Board of Investment (BOI).
Our team of experienced professionals can assist you in determining the most beneficial legal structure for your business and successfully set it up.
Promoters and Director
To set up a Limited Company in Thailand, you need at least three natural persons as promoters and one person as a director
Head Office and Document Requirements
You need a registered head office location in Thailand and the following two constitutive documents: Memorandum of Association (MOA) and Article of Association (AOA)
Capital Requirement
You need 2 million THB of registered capital per foreign employee or director
Time Frame
The Registration of a Thai Limited Company can be done in one week
Benefits of Doing Business in Thailand
Thailand’s strategic location as a gateway to Asia, pro-business government policies, and competitive operating costs make it an ideal destination for setting up a business
Strategic Location at the Heart of ASEAN
Government Support for Foreign Investment
Second Largest Economy in South-East Asia
Advanced Infrastructure and Transportation System
Skilled and Cost-Effective Workforce
Dynamic and Diversified Economy in Digital Transition
High Quality of Life for Expatriates
Extensive Free-Trade Agreements with International Partners
