Setting Up Your First Company in Thailand: A Step-by-Step Guide

Registering a company in Thailand is more straightforward than many foreign entrepreneurs expect, but getting the details right from the start saves time and money. The steps below take you through incorporating your Thai limited company.

See Company Registration: steps and fees

Step 1: Choose Your Company Structure

Most foreign entrepreneurs choose between three main structures:

• Thai-majority company: 51% Thai / 49% foreign ownership
• BOI-promoted company: 100% foreign ownership with tax incentives
• Treaty of Amity company: 100% US ownership under the US-Thai treaty

Each has different capital requirements, permitted activities, and regulatory implications.

Step 2: Reserve Your Company Name

Submit three name choices to the Department of Business Development (DBD). The name must be unique and not similar to existing registered companies. Name reservation typically takes 1-2 business days and remains valid for 30 days.

Step 3: Prepare Founding Documents

Draft the Memorandum of Association listing the company name, registered office address, business objectives, registered capital, and founding shareholders (minimum 2 for a limited company). All shareholders must sign and the document must be filed with the DBD.

Step 4: Hold the Statutory Meeting

The founding shareholders hold a statutory meeting to adopt the company’s articles of association, appoint directors, approve share allocation, and authorize the directors to register the company. Minutes must be properly recorded and filed.

Step 5: Register with the DBD

File the registration application with the DBD along with all required documents. Once approved, you’ll receive a company registration certificate and a 13-digit taxpayer identification number. The entire DBD process typically takes 1-3 business days.

Step 6: Post-Registration Setup

After registration, you’ll need to:

• Register for VAT if your turnover will exceed 1.8 million THB
• Register for social security if you’ll have employees
• Open a corporate bank account
• Set up your accounting system (we use Xero for real-time visibility)