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Company Formation in Thailand

Get started with your Thailand company formation.

Interest in Thailand has been increasing steadily over the past few years with news sources constantly reporting on companies shifting their operations to Thailand. Given global developments, Thailand company formation is now frequently discussed. The country’s infrastructure and workforce continues to develop at a rapid pace, moving Thailand up the value chain. With strong ties to neighbouring countries in SouthEast Asia, Thailand is an ideal destination for businesses looking to conduct international operations.

Our services include: 

  • Preparation, compiling and submission of incorporation documents
  • Provision of two company stamps
  • Assistance in obtaining Thailand corporate tax ID
  • Assist in preparation of VAT registration application
  • Drafting of one shareholder/board resolution for bank account opening
  • Obtaining company registration certificate and incorporation documents

We offer a unique delivery model with technology that enables us to provide an unrivalled service which has successfully supported more than five hundred companies.

Benefits of Company Formation in Thailand

  • Thailand is recognised for having low cost of production for manufacturers
  • No annual corporate maintenance requirements
  • Only three shareholders and one director is required – these individuals can be the same person or corporate body with no restrictions on nationality
  • Minimal capital requirements for Thailand company formation
  • Thailand incorporated companies are not required to publicly disclose shareholders or directors

Thailand Company Formation Requirements

The requirements surrounding Thailand company formation are simple and easy to understand. A minimum of three shareholders are required, who may either be a person or another company. While there are no nationality or residency requirements for shareholders of a private limited company, some industries such as those related to national safety / security, require a company’s shareholding structure to be at least 51% Thai owned.

At least one director is required for company formation purposes – this individual must be a natural person with no restrictions on residency. In respect of a company secretary, the appointment of an individual for this position is optional. Lastly, Thailand as the amount of a company share must not be less than THB5, the minimum registered capital amount required to incorporate a private limited company is THB15. Public limited companies and partnerships do not have minimum capital requirements

Annual Maintenance

While Thailand does not have annual corporate maintenance requirements, Thailand registered companies must adhere to monthly and yearly accounting obligations. These obligations range from filing tax VAT and WHT documents to bookkeeping and annual audits.

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How long does it take to complete the Thailand company formation process?

For private companies, the formation process typically takes around 7 days and up to 30 days for a public company. However, this process may be extended depending on whether company formation requirements have been met – for difficult cases, it is not uncommon for the process to take 6 months!

Do I need to provide any address for company formation purposes?

Yes. One of the prerequisites for registering a company in Thailand is that a local registered corporate office address in a commercial building has been obtained.

While a virtual office may also be used, it is not ideal as companies registered under a virtual office will not be allowed to register for VAT.

Are there any restrictions related to opening a corporate bank account?

Once the company formation process has been completed, a Thailand registered company is eligible to apply for a corporate savings, checking and/or foreign currency account. However, individuals who wish to apply for a company debit card and / or credit card must fulfill the requirement of having their Thailand registered company operate for at least 3 years.

Is there anything else I should consider during the process?

While the Thailand company formation process is not as strict as many other countries, there are still factors to watch out for. While reviewing the company formation application, Thailand government officials may scrutinize:

  • The benefits and advantages of the proposed business activities
  • The size of the business and the number of local jobs it is expected to create
  • The economic and social impact the company will have towards the development of Thailand

What can FastLane Do for You?

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