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How to set up a company in Thailand
Thailand has become a top destination not only for tourism, but also for business opportunities — especially among expats and foreign investors. With a strong economy, a welcoming business environment, and a high demand for services in tourist areas like Pattaya, many entrepreneurs are now choosing to set up companies in Thailand and turn their visits into long-term ventures.
In this guide, you’ll learn everything you need to know about starting a company in Thailand — including legal requirements, company types, registration steps, and how to stay compliant as a foreign business owner.
📌 Need help setting up your company? J&E Concierge Pattaya offers full support for company registration, tax setup, and business consulting.
Step-by-Step Process to Set Up a Company in Thailand
Setting up a company in Thailand involves a series of legal and administrative steps that ensure your business is compliant with local regulations. Whether you’re a foreign investor or an entrepreneur planning to operate in Thailand, understanding the registration process is essential.
From reserving a company name and appointing directors to submitting documents to the Department of Business Development (DBD) and registering for tax purposes, each stage must be handled carefully. Below, you’ll find a clear breakdown of the required steps to successfully establish your Thai company and start operating legally and efficiently.
🔹Reserve Your Company Name
Submit 1–3 preferred company names to the Department of Business Development (DBD) for approval. The approved name is valid for 30 days.
🔹Prepare the Memorandum of Association (MOA)
Include company name, registered address, objectives, share capital, and details of at least 3 promoters. All must sign in the presence of witnesses.
🔹Convene a Statutory Meeting
Approve company bylaws, appoint directors, allocate shares, and approve auditor appointment.
🔹Register the Company with the DBD
Submit the registration application, MOA, Articles of Association, list of shareholders, and director information.
🔹Obtain Tax Identification Number (TIN)
Register with the Thai Revenue Department and apply for a corporate tax ID.
🔹Register for VAT (if applicable)
Required if annual turnover exceeds 1.8 million THB or if the business is in certain sectors (e.g., hospitality, logistics).
🔹Open a Thai Corporate Bank Account
Needed to manage business funds and receive payments. Company documents and director presence are usually required.
🔹Apply for Necessary Licenses
Depending on your business activity, you may need additional permits (e.g., restaurant license, tourism license, import/export permits).
🔹Arrange Monthly Accounting & Annual Audit
Maintain proper financial records, submit monthly VAT and tax filings, and prepare audited financial statements annually.
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✅ Pro tip: Foreign-owned companies must comply with the Foreign Business Act, and may need Thai majority shareholders or Board of Investment (BOI) approval, depending on the business type.
Key Considerations When Starting a Business in Thailand
To legally operate a business in Thailand, obtaining the correct business licenses is essential. These must be secured before starting any commercial activity. The type of license you need depends on your industry — such as F&B, tourism, hospitality, education, or retail.
At J&E Concierge Pattaya, we provide full assistance in acquiring business operating licenses, guiding you through every step to ensure your company is fully compliant and ready to trade.
🔹 Additional Requirements for Thai Limited Companies:
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Minimum Thai Employees: A limited company must employ at least 4 Thai nationals to sponsor one foreign work permit.
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Work Permits: Foreign employees must obtain work permits and be registered in Thailand’s Social Security Fund.
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Registered Capital: A Thai Limited Company must have a minimum capital of 2 million THB (for each foreign work permit, if applicable).
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Shareholder Documentation: You must submit 2 copies of each shareholder’s ID and a proof of address.
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Business Location Proof: If you lease your commercial space, 3 copies of the rental agreement are required.
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Foreign Shareholding Over 40%: You may be required to submit bank statements from each shareholder every 6 months.
💡 Planning to open a hotel, restaurant, or other business in Thailand?
J&E Concierge provides expert legal, accounting, and licensing support — from the initial company setup to ongoing compliance.
Types of Business Entities in Thailand
Before setting up a company in Thailand, it’s important to understand the different types of business entities available. Each structure has its own legal and operational implications, especially for foreigners.
🔹 1. Private Limited Company (Co., Ltd.)
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The most popular choice among foreign investors
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Requires at least 3 shareholders (promoters) and 1 director
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Shareholder liability is limited to the amount of capital subscribed
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Annual financial statements must be audited and submitted to the Department of Business Development (DBD)
✅ Most similar to Western-style corporate structures. Flexible and cost-effective.
🔹 2. Public Limited Company (PLC)
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Requires at least 15 promoters
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Can offer shares to the public (stock exchange listing possible)
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Promoters must hold shares for at least 2 years
✅ Suitable for large-scale operations and companies planning to go public.
🔹 3. Limited Partnership
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Includes one general partner with unlimited liability and limited partners with liability limited to their investment
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Must be registered
⚠️ Less common for foreigners due to risk exposure
🔹 4. Branch Office
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Allows a foreign company to operate in Thailand
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Must register with the Ministry of Commerce
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Subject to Thai law and taxation
✅ Suitable for companies that want to expand operations without forming a new legal entity
🔹 5. Representative Office
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Limited scope: can conduct non-revenue-generating activities such as:
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Sourcing goods or services
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Inspecting quality
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Providing company information
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Cannot generate income, sign contracts, or negotiate deals
✅ Best for market research or supplier coordination
Choosing the right business entity in Thailand depends on your goals, capital, and whether you need local or foreign majority control.
💼 Need help choosing the right structure? Contact J&E Concierge Pattaya for expert advice and full company registration support.
Legal Requirements and Responsibilities for Business Registration in Thailand
When registering a company in Thailand, especially as a foreigner, it’s essential to understand and comply with the country’s legal requirements. These responsibilities affect everything from ownership structure to accounting practices.
🔹 1. Ownership Restrictions
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Foreigners are generally limited to owning a maximum of 49% of a Thai company under the Foreign Business Act.
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To retain majority control, many foreign entrepreneurs partner with a Thai citizen or apply for BOI (Board of Investment) promotion, which may allow 100% foreign ownership in certain sectors.
🔹 2. Visa and Work Permit Requirements
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To legally work in your own company, you must apply for a Non-Immigrant “B” (Business) Visa, followed by a Work Permit.
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The company must employ at least 4 Thai employees per foreigner and have 2 million THB in registered capital for each work permit.
🔹 3. Employment Regulations
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You may hire both Thai and foreign staff, but labor laws and registration requirements differ.
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Foreign staff must be registered with the Social Security Office, and contracts must comply with Thai labor law.
🔹 4. Accounting and Tax Compliance
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Thai law mandates monthly bookkeeping, VAT submissions (if applicable), and annual audited financial statements.
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A certified Thai accountant must manage your company’s financial reporting and tax filings.
📌 Failing to meet any of these requirements can lead to fines, business suspension, or visa issues. That’s why working with an experienced consultancy is crucial for ensuring full compliance.
✅ Need help navigating Thai legal obligations?
J&E Concierge Pattaya offers full support with company registration, accounting, work permits, and legal compliance — so you can focus on growing your business with confidence.
My company need to have Thai employees? I mean, this is one of the rules if you want to setup a company here?
Yes Hipster, you can contact us and we will give you all information and also we can help you to open your company. Thank you
How many shareholders had to have my company? I am planning to open a company in Bangkok but i don’t know too many things about. Can anyone tell me? Thanks
Hello Riff, sure we can help you. Please feel to get in touch with us as soon as you can. Thank you
Do i need a bank account if i will open a company in Pattaya? Thanks
Yes Brat, do you need a bank account for your company. We can provide you all those services, all you have to do is to get in contact with us.
Can anyone tell me wich is the first step when you want to open a company?
Hello Dave, the first step is to book your company name. If you have any others company or you need help, please get in contact with us.
Hello my name is Malak, are there any restrictions for foreigners who wants to open a company in Thailand?
Hello Malak, you must know that there are some restrictions, but you don’t have to worry about those, because our team it would be here to help you. Please feel free to contact us.