Thailand company registration
Corporation China offers a complete range of company registration, accounting, legal and business services, providing a complete one-stop solution for starting, maintaining and managing a business in Thailand.
Setting up a Company in Thailand
At Corporation China, we specialize in helping foreigners set up companies through a safe and secure process. With our legal and consulting staff, we have assisted in setting up thousands of companies in Thailand, who have decades of collective experience in company registration and Thai law. Please contact us for a free consultation.
There have been a series of new incentives from the government for non-Thai nationals, including tax allowances to easier access to work permits. This allows for a larger range of possibilities, most which would not have been fathomable until very recently. There are a wide variety of business structures to choose from, many of which are also available to foreigners (being that they do not violate the conditions of the Foreign Business Act). A business can be formed as a sole proprietorship, an ordinary or limited partnership, a representative, regional or a branch office, a joint venture, a limited company or even a foreign company. Furthermore, entities are categorized as either trading or non-trading, and rules vary according to its ownership (majority Thai vs. foreign).
Thai Limited Company
Generally, the first ideal step to setting up a new business in Thailand is establishing a Thai limited company – the Thai version of the western Limited Liability Company (LLC). However, a creating a TLC does not happen instantly, and requires a more formal incorporation process. There are two essential documents that are required by the Thai Government: The Articles of Association and the Memorandum of Association. Both of these documents must be registered with the Thai Ministry of Commerce. The Articles of Association can be personalized to fit the specific needs of a company, so long as the original shareholders and promoters (if different) accept the terms in writing.
The shareholders’ liability is limited to the capitalization registered by the company. This provides a higher level of security for both shareholders and investors.
A limited company is given the right to participate in all relative businesses in accordance to the business licenses that they possess. Company shareholders, directors, objectives, name, address are all flexible.
By applying a corporate share structure (preferred shares) that is tiered, maintaining control of the company can be done by simply adjusting share voting rights and dividend allocations.
It is possible for a foreigner to have full ownership of a company’s shares in Thailand if their activities meet certain lenient or unrestricted criteria. Please ask us about foreign ownership options for more details.
Corporate bank account
Any company registered in Thailand is eligible to apply for a corporate savings account, checking account and/or foreign currency account. Online banking is also available.
Work permit & visa
According to a company’s registered capital and labor department criteria, an application for multiple work permits can be granted to accommodate foreign executives and staff members.
Company registration packages
Communicate your business goals with a native English-speaking consultant while licensed Thai lawyers execute their professional services at a reasonable price.
Tailored and flexible solutions
Transparent and cost-effective pricing
Clear English communication
Licensed and experienced lawyers
Safe & secure business structures
Fast processing times
We create company registration packages that offer a flexible, customized and complete solution for all corporate requirements. All our packages include:
- Corporate registration
- BOI application
- Foreign business license
- Corporate bank account
- Work permit & visa
- Tax & VAT registration
- Social fund registration
- Business licenses
- Registered address
- Accounting & audit
- Director services
- Shareholder services
- Compliance & administration
- Domain registration
- Trademarks & IP
• Limited company (LLC)
• BOI company
• Amity Treaty (USA)
• TAT tourism
• Registered partnership
• Sole proprietor
• Representative office
• Regional operating HQ
Options for registering a Thai company with 100% foreign ownership.
BOI – Board of Investment company
A BOI sponsored Thai company can have access to 100% ownership, tax incentives and other government allowances.
US Treaty of Amity company
American citizens are allowed 100% foreign ownership of a company in Thailand by applying the Treaty of Amity.
Majority foreign-owned limited company
A company is allowed to apply for a foreign business license through its demonstration of providing benefits to the country through technology, intellectual property sharing, investment and/or employment.
A company with the sole purpose of exporting with total revenues amounting from outside of Thailand is eligible for 100% foreign ownership.
A majority foreign owned company can legally purchase land for manufacturing purposes in two cases: have its business promoted by the Board of Investment (BOI) or have its factory within an industrial estate (not just an industrial park).
Representative, branch, regional (HQ) office
Supplementary corporate registration for foreign companies is available. Each type conducts specific constraints on both its operations and generation of profit.
Pros and cons of a Thai limited company
Establishing a Thai limited company is the most popular method to setting up a business in Thailand. This is largely due to the fact that TLC’s share many similar characteristics with other co-operations in various developed nations. Therefore, many logistical processes may feel familiar to seasoned businesspeople, even if they have very little experience in Thailand. All limited companies have directors, shareholders (both Thai and foreign in many cases), promoters, and limited liability. Limited liability in this case refers to the idea that shareholders in a Thai company can only make a loss on invested capital. Thai limited companies are a popular means of doing business due to the numerous ways of generating profit.
Although issues like double taxation (on both the earnings of the company and dividends) exist, these problems can be easily resolved by rolling profits into the salaries of directors and other shareholders. Unlike certain joint ventures where duties and privileges can become a grey area, a Thai limited company’s rights and obligations are set in writing, ensuring that everyone has a clear understanding of their legal stance within a company. All legal privileges and concerns are clearly stated and available for reference when required.
Setting up a Thai limited company.
The process for establishing a Thai limited company has become considerably easier. Before July 1, 2008, it would take approximately six weeks. Now, it can be done as quick as one day. Additionally, only three mandatory shareholders are required to incorporate and register a new Thai limited company (as opposed to seven prior to 2008). These amendments came from the government’s motivation to encourage foreign businesses to thrive in the country. Foreign investment is now highly encouraged and is even more so following policy changes that have simplified the process of registering a new company is Thailand. If a company is majority owned by a foreigner, they must obtain a foreign business license prior to participating in any business activity. However, a Thai limited company that is majority owned by a Thai national will not run into such restraints. As a result, it is beneficial for many foreigners to form a partnership with a Thai national, in order to meet the legal requirements.
Company startup costs and fees.
Fees will vary based on the type of corporate structure and the overall scope of the legal work. We believe in transparent and reasonable pricing. Our corporate legal fees are mostly based on an itemized basis with the complete costs quoted prior to beginning the legal work. We assemble a comprehensive breakdown and analysis with the relevant government fees. We do not add any unnecessary fees after the fact. The government costs which are associated with the formation will include: costs for the registration of the company capitalization (per 1m baht), certification of documents, registration of memorandum, application for social fund, corporate licensing, work permit and Thai visa. Our legal and accounting Professionals are ready to discuss your business needs, and answer any questions you may have.
Supporting services for company setup
Every company must eventually undergo minor to major changes in its structure. These changes must be properly reported to the relevant authorities. So, in addition to assisting our clients with company registration (that roughly consists of six steps – registering the company name, filing the memorandum of association, statutory meeting, registering the company, registering for income tax and VAT and opening a corporate bank account), we can also help with corporate secretarial services and accounting.
Accounting & audit
Work permit & visa
Not sure where to begin?
Get a free 30-minute consultation on starting and operating your company in Thailand.
Grace, Legal business services coordinator
+86 021 5102 1891 (CN)
+1 253 777 0117 (US)
+44 (0) 20 8133 7773 (UK)
+61(0) 2 8006 1867 (AU)
+852 8191 0881 (HK)
+ 7 (499) 5770299 (RU)
+ 27 110 839337 (RSA)