Company Registration in Thailand
Setting up a business in Thailand is an attractive option for foreign investors and entrepreneurs due to the country’s strategic location, growing economy, and government incentives. In 2025, Thailand has introduced updates to its company registration process to simplify compliance and attract more foreign investments. This guide walks you through the key aspects, updates, and steps to register a company in Thailand.
Why Register a Company in Thailand?
Registering a company in Thailand provides numerous benefits:
- Access to the Board of Investment (BOI) privileges, including tax incentives.
- Legal protections and recognition for your business.
- Opportunities to expand in ASEAN markets through Thailand’s strong trade agreements.
- A stable and business-friendly legal framework that supports foreign investments.
At Lex Bangkok, we specialize in guiding investors and entrepreneurs through Thailand’s registration process, ensuring a seamless experience from start to finish.
Key Types of Business Structures in Thailand
- Limited Company: The most common structure for foreign investors. Requires at least 2 shareholders and 1 director (updated as of February 2023, under the amended Thai Civil and Commercial Code). Shareholders can be foreign or Thai nationals, subject to restrictions under the Foreign Business Act (FBA). This structure provides limited liability for shareholders, making it ideal for small businesses, startups, and foreign investors.
- Representative Office: Used for non-commercial purposes, such as market research. Cannot earn income or issue invoices in Thailand.
- Branch Office: Suitable for foreign companies conducting business in Thailand. Must comply with Thai tax regulations and the Foreign Business Act.
- Partnership: General partnerships or limited partnerships are available. Limited partnerships are more suitable for foreign investors due to liability protection.
2025 Updates to Company Registration in Thailand
- Digital Registration Process: The Department of Business Development (DBD) has enhanced its online portal, allowing for fully digital company registration, reducing processing time from weeks to 3-5 business days.
- Foreign Ownership Incentives: BOI-registered companies in priority industries (e.g., tech, renewable energy, manufacturing) can now hold up to 100% foreign ownership.
- Minimum Capital Requirements Simplified: For non-BOI companies, the minimum registered capital for foreign businesses has been increased to 3 million THB. This ensures alignment with global investment standards.
- Faster Work Permit Integration: Foreign directors can now apply for work permits simultaneously during company registration, streamlining the process.
- E-Signatures Accepted: Documents can now be signed digitally, provided they meet the e-signature standards under the Electronic Transactions Act (ETA).
At Lex Bangkok, we ensure you stay up-to-date with these changes, helping you leverage the new incentives and navigate the digital process efficiently.
Step-by-Step Guide to Registering a Company in Thailand
- Choose Your Business Structure: Determine the type of entity that suits your business goals (e.g., limited company, branch office).
- Reserve a Company Name: Submit your preferred company name to the DBD. Ensure it is unique and complies with naming guidelines.
- Draft Key Documents: Prepare the following: Memorandum of Association (MOA). Articles of Association (AOA). List of shareholders. Company objectives.
- Register with the DBD: Submit documents online via the DBD’s e-registration portal. Pay the registration fee, calculated based on your registered capital.
- Obtain a Tax ID and VAT Registration: Register for a Taxpayer Identification Number with the Revenue Department. VAT registration is mandatory if your annual revenue exceeds 1.8 million THB.
- Open a Corporate Bank Account: Provide your company registration documents to open a bank account in Thailand.
- Apply for Necessary Licenses: Depending on your industry, apply for additional permits (e.g., Foreign Business License or BOI privileges).
Common Challenges in Company Registration
- Foreign Business Restrictions: Some industries are restricted under the Foreign Business Act, requiring Thai majority ownership or special permissions.
- Language Barriers: Company documents must be prepared in Thai and may require professional translation for foreign investors.
- Compliance with BOI Conditions: BOI-registered companies must meet specific performance benchmarks, such as job creation or investment in technology.
- Licensing Delays: Certain industries, such as food and beverage, require additional licenses that may take months to obtain.
Key Legal Considerations
- Shareholder Agreements: Draft clear agreements to outline the rights and responsibilities of shareholders, especially in joint ventures.
- Employment Laws: Ensure compliance with the Labor Protection Act, including offering fair wages and benefits to employees.
- Accounting Standards: Thai companies must adhere to Thai Financial Reporting Standards (TFRS) and file annual financial statements with the DBD.
- Taxation: Corporate income tax (CIT) is set at 20%, with reduced rates available for BOI-promoted businesses.
Conclusion
Registering a company in Thailand in 2025 is now faster and more accessible, thanks to digital innovations and foreign investment incentives. However, navigating the regulatory landscape requires careful planning and legal expertise.
At Lex Bangkok, we’re committed to helping you turn your business vision into reality. From registration and compliance to BOI privileges and beyond, our team ensures your business is set up for success.
Ready to start your journey? Contact Lex Bangkok today and let us take care of the legalities so you can focus on growing your business.
