1. Choose a Business Structure

• Most common: Private Limited Company (Co., Ltd.)

• Requires at least:

  • 2 shareholders

  • 1 director

  • Registered office address

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2. Reserve a Company Name

• Submit 3 name options to the Department of Business Development (DBD).
  The name must be unique and not similar to existing companies.

• Takes 1–3 business days.

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3. Prepare the Memorandum of Association (MOA)

• Includes:

  • Company name

  • Business objectives

  • Registered capital (minimum: THB 2 million for work permit eligibility)

  • Shareholder details

  • Registered office address

• Submit to the DBD

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4. Convene a Statutory Meeting

• Approve:

  • Articles of Association (company rules)

  • Appointment of directors and auditor

  • Share allocation

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5. Register the Company

• Submit incorporation documents to the DBD within 3 months of the statutory meeting.

• Pay a government fee (about THB 5,000+ depending on capital).

• Receive company registration number and certificate.

 

6. Tax Registration

• Register for a corporate tax ID with the Revenue Department.

• If revenue exceeds THB 1.8 million/year → register for VAT.

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7. Open a Bank Account

• Thai banks require:

  • Company documents

  • Director’s ID/passport

  • Possibly a company seal

  • Some banks may require a Thai co-signer for foreigners

 

8. Hire Employees (if needed)

• Register for Social Security with the Social Security Office.

• Withhold income tax and submit monthly.

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9. Apply for Work Permits & Visas (for foreigners)

• You must:

  • Have a company with THB 2M capital per foreigner

  • Hire at least 4 Thai employees per foreigner

• Get a Non-B Visa first, then apply for the work permit.

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🧾 Documents You’ll Need

• Company name reservation

• MOA

• Company registration application

• Shareholders’ ID or passport copies

• Lease agreement for office

• Map of office location

• List of directors and shareholders

 

Thai Limited Company (Thai Majority)

In a Thai majority-owned limited company, the Thai nationals must own at least 51% of the shareholding of the company. Since the majority of its shareholding is Thai, then, a Foreign Business License (FBL) is not required. A limited company that is majority-owned by a Thai national generally does not encounter restrictions.

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Thai Limited Company (Foreign Owned)

A Foreign majority-owned company limited is defined to be a business with over 49% foreign ownership. The business operations and activities involving foreign nationals and entities are governed by the Foreign Business Act. Business entities of majority foreign ownership are required to obtain a Foreign Business License before commencing its operations in Thailand.