EXPAT TAX FIRM
THAI Company Formation
Types of Companies in Thailand
Choosing the correct structure is one of the most important steps when forming a company in Thailand.
Thai Limited Company
The Thai Limited Company is the most common business structure for foreign entrepreneurs.
Key features include:
- Limited liability protection for shareholders
- Ability to conduct most types of commercial activities
- Structured management through directors and shareholders
- Recognition by banks and government authorities
- Minimum of 3 shareholders
- At least 1 director
- Registered capital (typically 2 million THB for work permit eligibility)
Foreign ownership restrictions may apply depending on the business activity.
BOI Company (Board of Investment)
Certain industries may qualify for BOI promotion, which can provide benefits such as:
- Up to 100% foreign ownership
- Corporate tax incentives
- Work permit and visa advantages
- Import duty exemptions
BOI eligibility depends on the nature of the business.
Representative Office or Branch Office
Foreign companies that wish to maintain a presence in Thailand without conducting direct revenue-generating activities may consider:
- Representative Office
- Branch Office
These structures are commonly used for market research, sourcing, or liaison operations.
Our Thai Company Formation Services
At Expat Tax Firm, we provide a full-service solution for setting up a company in Thailand.
Business Structure Consultation
We analyze your goals and determine the most suitable legal structure.
Company Registration
We handle the complete registration process with the Department of Business Development (DBD).
Shareholder and Director Setup
Assistance with structuring shareholders and appointing directors.
Registered Address
Guidance on registered office requirements.
Corporate Documentation
Preparation of:
- Articles of Association
- Shareholder agreements
- Corporate registration documents
Bank Account Assistance
We assist with opening Thai corporate bank accounts when required.
Tax Registration
Registration for:
- Thai Tax Identification Number (TIN)
- Value Added Tax (VAT) if applicable
- Social Security registration for employees
Work Permits and Visas
Many entrepreneurs who form a Thai company also require Thai work permits and visas.
We help coordinate the process with trusted legal and immigration partners to assist with:
- Business Visas
- Work Permits
- Visa extensions
- Corporate compliance for foreign employees
Ongoing Compliance and Accounting
Operating a business in Thailand requires ongoing regulatory compliance.
Our firm also provides:
- Monthly accounting services
- Corporate tax filings
- VAT filings
- Social security reporting
- Payroll services
- Annual financial statements
Why Work With Expat Tax Firm?
Our firm specializes in helping foreign entrepreneurs, expatriates, and international investors establish businesses in Thailand.
Clients choose us because we offer:
- Cross-border tax expertise
- Experience working with expats and foreign investors
- Understanding of both Thai and international tax systems
- End-to-end business setup support
We help ensure that your Thai company structure is both legally compliant and tax efficient.
Start Your Thai Company Today
If you are considering starting a business in Thailand, our team can guide you through the process and help you avoid common mistakes.
- Company structure
- Foreign ownership rules
- Tax obligations
- Ongoing compliance requirements
Contact Expat Tax Firm today to schedule a consultation and begin your Thai company formation process.
Cost to Start a Company in Thailand
One of the most common questions foreign entrepreneurs ask is: “How much does it cost to start a company in Thailand?”
The cost of Thai company formation depends on several factors, including the business structure, registered capital, licensing requirements, and whether professional services are used to assist with registration.
Typical Costs to Start a Thai Company
While exact costs vary, a standard Thai Limited Company setup typically includes the following expenses:
Government Registration Fees
These fees are paid to the Department of Business Development (DBD) and are based on the company’s registered capital.
Typical government fees include:
- Company name reservation
- Memorandum of Association filing
- Company registration fees
- Corporate documentation filings
Professional Formation Services
Many foreign entrepreneurs choose to work with professionals to ensure the company is structured correctly and registered efficiently.
Professional services typically include:
- Corporate structuring consultation
- Preparation of legal registration documents
- Government filing coordination
- Tax registration with the Thai Revenue Department
- Corporate compliance guidance
Additional Costs May Include
- Registered office address
- Corporate bank account setup
- VAT registration
- Accounting and bookkeeping services
- Work permit and visa assistance
At Expat Tax Firm, we provide transparent pricing for Thai company formation services so clients clearly understand the costs involved before starting the process.
Can Foreigners Own a Company in Thailand?
Another frequent question we receive is: “Can foreigners own a business in Thailand?”
The answer depends on the type of business activity and the ownership structure.
Standard Thai Limited Company Structure
In many cases, Thai law requires that Thai nationals hold at least 51% ownership of a company. This structure is commonly used when foreign entrepreneurs want to operate a business in Thailand but the activity is restricted under the Foreign Business Act (FBA).
Foreign investors may hold up to 49% ownership in many standard business structures.
100% Foreign Ownership Options
Certain businesses may qualify for 100% foreign ownership through special structures or government incentives.
These may include:
BOI (Board of Investment) Promotion
The Thai Board of Investment promotes specific industries and may allow:
- 100% foreign ownership
- Corporate tax incentives
- Import duty exemptions
- Easier work permit approvals
Treaty of Amity (U.S. Citizens)
Under the U.S.–Thailand Treaty of Amity, American citizens and companies may be eligible for majority or full ownership of Thai businesses, depending on the business activity.
Choosing the Right Ownership Structure
Determining the correct ownership structure requires careful planning.
Important factors include:
- Business activity
- Work permit eligibility
- Corporate tax considerations
- Long-term investment plans
Our firm helps clients determine the most appropriate and legally compliant structure for their business in Thailand.
Step-by-Step Guide to Registering a Company in Thailand
The Thai company registration process involves several legal and administrative steps. While the process is straightforward when handled properly, it can be time-consuming for foreigners unfamiliar with local regulations.
Below is a simplified overview of how company formation in Thailand works.
Step 1: Reserve the Company Name
The first step is submitting a company name reservation with the Department of Business Development (DBD).
The name must:
- Be unique
- Not conflict with existing companies
- Follow Thai naming regulations
Once approved, the name reservation is typically valid for 30 days.
Step 2: File the Memorandum of Association
The Memorandum of Association (MOA) outlines key details of the company, including:
- Company name
- Registered office location
- Business objectives
- Registered capital
- Shareholder information
This document formally declares the intention to establish the company.
Step 3: Hold the Statutory Meeting
The company founders hold a statutory meeting to approve:
- The Articles of Association
- Appointment of directors
- Share allocation
- Registered capital structure
Once approved, the company can proceed with formal registration.
Step 4: Register the Company with the Government
The company is officially registered with the Department of Business Development.
At this stage, the company receives its company registration certificate, making the business legally recognized in Thailand.
Step 5: Register for Taxes
After company formation, the business must register with the Thai Revenue Department.
This includes obtaining a Corporate Tax Identification Number (TIN) and registering for VAT if required.
Step 6: Open a Corporate Bank Account
A Thai corporate bank account is typically required for business operations.
Banks may request:
- Company registration documents
- Director identification
- Corporate resolutions
Step 7: Accounting and Compliance Setup
All Thai companies must maintain proper accounting records and submit annual filings.
Typical compliance requirements include:
- Monthly accounting records
- Corporate tax filings
- VAT filings
- Annual financial statements
Our firm assists clients with ongoing accounting and tax compliance after the company is established.
Start Your Thai Company with Professional Guidance
Setting up a company in Thailand as a foreigner requires careful planning to ensure compliance with local regulations and tax laws.
At Expat Tax Firm, we provide complete support for:
- Thai company formation
- Corporate tax registration
- Accounting and compliance
- Work permit and visa coordination
If you are considering starting a business in Thailand, our team can guide you through every step of the process.
Contact us today to begin your Thai company formation consultation.