Thailand

Thai-majority companies are simple; foreign-majority service businesses usually need a Foreign Business License.

Last checked: Oct 2026 · Sources listed below

01 · What we can do here

What we can do here

Information and referrals

Free information on this page. We do not market a paid service in Thailand at launch.

Incorporation, Foreign Business License or BOI applications, accounting and audit: licensed Thai firms.

02 · Incorporation basics

A private limited company needs at least 2 promoters and 2 shareholders (reduced from 3 in 2023).
Steps: reserve the name, file the memorandum of association, hold the statutory meeting, then register the company within 3 months. DBD e-Registration is available. The tax ID is issued automatically.
Fees: THB 500 for the memorandum and THB 5,000 for company registration.
At least one director, with no Thai residence or nationality requirement (foreign directors working in Thailand need visas and work permits). No statutory company secretary for private companies.
Shares have a minimum THB 5 par value, with at least 25% paid up at registration. Foreign-majority companies face a THB 2 million minimum capital (THB 3 million per business needing a license).

03 · Foreign ownership

A company is 'foreign' under the Foreign Business Act if foreigners hold at least half its shares.
Most service businesses fall under List 3, so a foreign-majority company usually needs a discretionary Foreign Business License (consideration period 60 days). Some activities are prohibited outright.
Using Thai nominee shareholders to avoid the Act is a criminal offense.
Routes for foreign-majority companies include BOI promotion (Foreign Business Certificate) and, for qualifying US companies, the US-Thailand Treaty of Amity.
Foreign-majority companies generally cannot own land, except under BOI or industrial-estate permission.

04 · Banking and fintech

Thailand operates exchange controls. Investment inflows are converted through authorized banks, which collect supporting documents above set thresholds. Dividends and profits can be remitted abroad with supporting documents.
Thai companies may hold foreign-currency deposit accounts; non-residents use special non-resident baht accounts.
Banks expect the company affidavit, memorandum and articles, shareholder list, board resolution and IDs. An authorized director usually attends in person, and foreign directors are often asked for a work permit or long-stay visa.

05 · Annual filings

AGM to approve financial statements within 4 months of year-end.
Financial statements filed with DBD within 1 month after the AGM. All limited companies must be audited by a Thai CPA.
Shareholder list within 14 days of the AGM.
Corporate income tax return (PND.50) within 150 days of year-end; half-year estimate (PND.51).
VAT returns monthly by the 15th; withholding returns monthly by the 7th (e-filing extensions apply).

06 · Tax basics

Published rates only. Not tax advice.

Corporate income tax: 20%. SME rates (paid-up capital up to THB 5m and revenue up to THB 30m): 0% on the first THB 300,000, 15% up to THB 3m, then 20%.
VAT: 7% (extended to Sep 30, 2027; the statutory rate is 10%). Registration above THB 1.8 million annual turnover.
Withholding on payments abroad: 15% on service fees, royalties and interest; 10% on dividends; treaty rates may reduce these.
Foreign e-service providers register for VAT once Thai consumer income exceeds THB 1.8 million a year.

07 · Disclosure rules

No Thai statute was found requiring the company name or registration number on websites, emails or letters.
The company name must end in 'Limited'. Full VAT invoices must show the seller's name, address and 13-digit tax ID. Display the VAT certificate at the place of business.

08 · Sources

General information only, not legal or tax advice. Rules change; check the official source before acting.