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Email: info@mevconsultants.com
Email: info@mevconsultants.com
Register a company in Thailand
Company incorporation, bank accounts, accounting services in Thailand
Registration packages
Services
Essential
Standard
Premium
Company registration (Ltd.)
Annual registered address
Notary services and company seal
Remote corporate bank account
Accounting services
Start your company in Thailand
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How you can register a company in Thailand with us
Submit shareholder and director information to our firm with a signed power of attorney
Settle a payment for registration and banking assistance
Receive corporate documentation of the registered company and access to the corporate bank account of your company
Key details about Thailand
Thailand is located in Southeast Asia and has a territory of 513,120 square kilometers. South Korea borders Cambodia, Laos, Myanmar and Malaysia and has access to Andaman Sea and to the Gulf of Thailand. The capital city of Thailand is Bangkok, the largest city and the location of key government institutions. Thailand has a population of 66,2 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 20%
- Dividend withholding tax - 10%
- Interest withholding tax - 15%
- Royalties withholding tax - 15%
- Capital gains tax - 20%
- VAT - 7% or the reduced rate of 0% or tax exempt
- Personal income tax - from 0% up to 35%.
The following are the most common types of companies to incorporate a company in Thailand as:
- Private limited company
- Public limited company
- General partnership
- Limited partnership
- Branch office
- Individuals or legal entities that are intending to register a company in Thailand can either be resident or non-resident in Thailand. However, it is highly recommended to have one or more residents of Thailand as major shareholders of the company with a total share of 51% due to the Foreign Business Act of Thailand that limits a large number of business operations for local companies with a major share owned by non-residents.
- A resident or a non-resident individual can be a company director in Thailand. It is not required to set up a company in Thailand with a Thai citizen as one of its directors.
- At least 3 shareholders are required in order to register a company in Thailand if such company is incorporated as a private limited company. An individual shareholder can simultaneously become a director of this company.
- It is not required to create substance (resident employees, office space) in Thailand in order to establish a company in Thailnand or to conduct business in the country.
- Minimum share capital that is required to start a company in Thailand as a private limited company with Thai residents having at minimum a 51% share in the company is THB 15 or USD 0,42.
- If foreign ownership, however, exceeds 51% in the newly registered company in Thailand and was established under a treaty or trade agreements and is not required to obtain a foreign business licence, the minimum share capital amounts to THB 2 million.
- If a foreign-owned company was registered in Thailand under a treaty or trade agreements and is required to obtain a foreign business licence, the minimum share capital amounts to THB 3 million or USD 83000.
- Private limited company registration takes between 10 and 15 business days with the bank account taking up to 7 business days.
- Details of company founders, shareholders and directors after company registration in Thailand is complete is not publicly available in the state corporate register.
- With our service you can register a company in Thailand completely remotely upon a power of attorney.
Official currency of Thailand is Thai baht (TBH).
The industrial and tertiary sectors are the primary sectors in the GDP of the country, with industry accounting for 39.2% of GDP. Thailand's agricultural sector amounts to 8.4% of GDP - lower than the trade and logistics and communication sectors that amount to 13.4% and 9.8% of GDP respectively. The construction and mining sector make up 4.3% of the GDP. Other service sectors (including the financial, education, and hotel and restaurant sectors) account for 24.9%.
Primary imports of Thailand are crude petroleum, integrated circuits, gold, motor vehicles, parts and accesories, broadcasting equipment. Export of Thailand consists of machinery, including computers, electrical machinery and equipment, rubber, plastics, precious metals, minueral fuels including oil, fruits, nuts, meat and seafood preparations, organic chemicals. Key trading partners of South Korea are Japan, China, USA, Singapore, Vietnam and Malaysia.
The GDP of Thailand grew by 1.6% in 2021 and amounted to USD 505.6 billion.
The industrial and tertiary sectors are the primary sectors in the GDP of the country, with industry accounting for 39.2% of GDP. Thailand's agricultural sector amounts to 8.4% of GDP - lower than the trade and logistics and communication sectors that amount to 13.4% and 9.8% of GDP respectively. The construction and mining sector make up 4.3% of the GDP. Other service sectors (including the financial, education, and hotel and restaurant sectors) account for 24.9%.
Primary imports of Thailand are crude petroleum, integrated circuits, gold, motor vehicles, parts and accesories, broadcasting equipment. Export of Thailand consists of machinery, including computers, electrical machinery and equipment, rubber, plastics, precious metals, minueral fuels including oil, fruits, nuts, meat and seafood preparations, organic chemicals. Key trading partners of South Korea are Japan, China, USA, Singapore, Vietnam and Malaysia.
The GDP of Thailand grew by 1.6% in 2021 and amounted to USD 505.6 billion.
Foreign entrepreneurs expand to Thailand and seek to incorporate a company in Thailand in order to conduct business in the following sectors:
According to the Foreign Business Act most business activities are restricted for foreign owned companies registered in Thailand where the share held by foreign shareholders is equal to or exceeds 51% and these activities require a licence or a permit from the government.
In addition, there are certain activities that are prohibuted for foreign entrepreneurs regardless of licence or a permit:
Among business activities that require a licence or a permit which are highly difficult to obtain are:
- Manufacturing
- Financial services
- Travel services.
According to the Foreign Business Act most business activities are restricted for foreign owned companies registered in Thailand where the share held by foreign shareholders is equal to or exceeds 51% and these activities require a licence or a permit from the government.
In addition, there are certain activities that are prohibuted for foreign entrepreneurs regardless of licence or a permit:
- newspaper business, radio-broadcasting station or radio/television business
- farming, cultivation or horticulture, animal husbandry
- forestry and timber conversion from natural forests
- fishing in Thai territorial waters and in specific economic areas of Thailand
- extracting Thai herbs
- trade and auction sale of Thai antiques or objects of historical value
Among business activities that require a licence or a permit which are highly difficult to obtain are:
- manufacturing, distribution, repair or maintenance of firearms, ammunition, gunpowder, and explosive materials
- domestic land transportation, water transportation, or air transportation, including domestic aviation
- business activities that could have an adverse effect on arts and culture, customs, and native manufacturing/handicrafts
- business activities that could have an adverse effect on natural resources or the environment.
Benefits of registering a company in Thailand
Business climate
- Location near China and India
- Multiple active free trade agreements with the ASEAN member states
- Large logistics center for making shipments to Asia and India
- Diversified manufacturing sector
- Efficient work force
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
- Low inflation
Tax incentives
- Tax incentives for investments in R&D, agriculture, manufacturing industry, digital and creative industries
- Tax incentives for IBC companies registered in Thailand
- Double tax treaties with several jurisdictions
Ease of doing business
- Thailand ranks #21 in the global Ease of doing business ranking
- A company can be opened completely remotely
- Minimum share capital of a private limited company in Thailand amounts to just 15 TBH in case Thai residents maintain a total share of at least 51%
- No strict foreign exchange controls
Register your company in Thailand
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