Thailand business start up is normally handled by a professional corporate consulting Firm on behalf of foreign investors. A Firm will be able to manage the entire Thailand business set up process, including company registration, corporate tax and VAT registration, corporate banking perspectives, and even handling staff recruitment and other logistical issues related to Thailand business set up. This page provides an overview of the core procedures relating to Thailand business start up:

Business set up normally starts with a company name search at the Department of Business Development in the Ministry of Commerce.

The company’s Memorandum of Association is prepared, which includes details of: i) Company name (as reserved with the Department of Business Development); ii) Head office address - including a letter from the landlord granting permission to use the premises, or a copy of the lease agreement; iii) The company’s objectives; iv) Names, addresses and occupational details of seven shareholders; v) Names of directors authorised to sign on behalf of the company; vi) The name of a certified auditor, licensed to practice in Thailand, together with the auditor's CPA number and the amount of remuneration to be paid for the audit of the first fiscal year, must be stated.

The signed Memorandum of Association is submitted to the Department of Business Development, which issues a Certificate of Registration confirming this phase of the Thailand business set up is complete.

The company registers with the Thailand Revenue Department, which issues a Taxpayer ID card.

There are general restrictions on foreign ownership in certain industries such as commercial banks, insurance companies, aviation business, commercial fishing, commercial transportation and tourism. There are, however, exceptions and special circumstances which may allow a foreign investor to own businesses in these areas upon special request.

A Thai limited liability company (LLC) requires a minimum of seven shareholders, none of whom can be corporations. All companies are required to keep a register of shareholders, which are available for public viewing. 100% foreign ownership of a Thai LLC is possible, providing the company is investing in a sector being promoted by the Thai government’s Board of Investments (BoI).

For more information on Thailand business start up, purchase our Asia Business Setup book. Alternatively, contact email@healyconsultants.com or call us in Singapore (+65) 6735 0120.

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