To do business in Thailand can be complicate and may take long time to complete the process. This is mainly due to set up the company procedure and the attached documents and forms being in Thai. It follows that you need specialist you can trust and who is able to communicate in Thai on your behalf to be able to successfully review your company registration. IDG Thailand’s licensed Thai lawyer attorneys can assist you to setting up your business. Moreover, we can give you a one stop service for your convenience such as Before starting a business, we can help you claim tax benefits under the Board of investment in Thailand (BOI) and we can assist the foreigner who desire to invested or obtained any license in Thailand.
we would like to share the company registration requirement which Thailand Law has just amendment and its effective on the date of February 7th, 2023. !!!!
- At least 2 natural persons as promoters and at least 2 shareholders are required at all times throughout company operation. The promotor must be 21 years old who can legally act on behalf of the company. Usually, promoters hold an equal share of the company. It is only after registration of the company that promoters’ shares can be transferred to others.
- At least 1 director is a person who is appointed by shareholders and is responsible for the company’s operations, with authority to act on behalf of the company.
- Head office located in Thailand along with a copy of house registration (Tabien Baan) number or, in case of lease of office located you shall have a Letter of Consent obtained from the landlord.
- Minimum registered capitalization of 2 million THB for foreign businesses operating non-restricted and 3 million THB for restricted businesses under the Foreign Business Act. Thai-owned companies, not subject to such requirements (but will need to meet financial requirements to support a work permit for a foreign worker).
- A statutory meeting has to have been convened.
- Letter of Certification from the bank to certify the adequacy of funds in the Thai shareholder’s personal bank account where Thai shareholders will be amongst foreign shareholders.
- All shareholders/initial promoters and directors will be required to sign part of the application documents in Thailand.
- if the foreign business is restricted under the Foreign Business Act of Thailand. You must obtain foreign business license (FBL) before doing your business which take time from 3 to 6 months to get approval.
If you need to set up company limited with 100% of shares or the majority of shares owned by a foreign, you need to read our other page that talks about FBL Company or contact us.