Thailand is one of the best destination for business in South East Asia, due to there are plenty of incentives and supportings from Thai Government such as BOI (Board of Investment), US Treaty of Amity, EEC (Eastern Economic Corridor), TH-AUS FTA (Thailand-Australia Free Trade Agreement), JTEPA (Japan-Thailand Economic Partnership Agreement). Thailand is the center of connection with economic groups in Asia, from China to Indonesia and from Vietnam cross to Myanmar and a strategic point of the ASEAN Economic Community (AEC) in terms of production, trade, export and transportation. Thailand is therefore the best position for investment in ASEAN to connect Asia to the world. However, to set up the company in Thailand is not that easy as it should be. Due to there is the FBA (Foreign Business Act, B.E. 2542 (1999) to limit the business activities for foreigners. Moreover many businesses are strictly prohibited for foreigners. Therefore, foreign companies are able to operate some business under the FBA only.
Are you looking for expading your business or owning the business in Thailand?
We are Thai lawyers specialized in Corporate Law for more than 20 years with fluently English speaking. We provide the comprehensively legal consulting and set up the safe and secure company for our foreign clients including business licenses, visa-work permit, accounting and litigation services for your smoothly business operation in Thailand.
4 Steps for Company Registration
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Company’s structure
- Minimum 3 individual promoters
- Minimum 1 director
- Minimum 3 shareholders
- Shareholding proportion
- Company Capital
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- For Thai majority shareholding
- None of minimum capital
- Foreign majority shareholding
- minimum 2 MB (depends on business category)
- Company under BOI promotion
- minimum 1 MB
- For Thai majority shareholding
- Scope of business
- Company’s address in Thailand
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Requirements
- For Promoters, Directors and shareholders
- Copy of ID card or Passport
- Address and Telephone No.
- Lease Agreement of company’s offfice
- Landlord documents
- Map
- Company seal
- For Promoters, Directors and shareholders
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Registration
- LAT provides the application and supporting documents for authorized directors and promoters’ signature
- Register the company to DBD
- Pay Government fees
- Only 1 working day
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Obtaining the company’s documents
- Company registration
- Share Certificate
- Book of registered shareholders
- Article of Association (AOA)
- Memorandum of Association (MOA)
- List of shareholders
- List of directors
What is the next step after setting up the company?
After the completion of company establishment, your company is required to proceed the next step of registration as follows:
- Compnay TAX ID Registration
- VAT (Value Added Tax) Registration
- Social Security Registration
- Opening Bank Account
- Business Licences
- Visa and Work Permit
Are you allowed to operate the business immediately after all registrations above?
After the completion of company registration, your company is required to register for Tax ID card, VAT, Social Security to identify and activate the company’s status to the Revenue Department and Social Security Office and then open company’s bank account before operating your business.
Moreover, in case of foreign company (foreign majority shareholding) is required to apply for the FBL (Foreign Business License) and local business license depending on your company’s business activity such as Tourism license, Hotel license, Restaurant license and so on.
In case that your company is registered under the Government Promotion (BOI, US Treaty of Amity, JTEPA, TH-AUS FTA, etc.), your company is required to apply for FBC (Foreign Business Certificate) instead of FBL and the local business license as metioned above.
After that your company is allowed to operate the business immediately in Thailand.
Which business activities are required to apply for FBL?
There are 21 businesses that Thai people do not have prompt operating abilities to compete with foreigners under List Three Annexed to Foreign Business Act, B.E. 2542 (1999) therefore foreign companies must obtain the license (FBL) before the operation.
Which business activities under the Government Promotion?
- Business under BOI
- Business under US Treaty of Amity
- Business under JP-TH Economic Partnership Agreement
- Business under TH-AUS Free Trade Agreement
Our Services
- Company Registration
- Tax ID Registration
- VAT Registration
- Social Security Registration
- Opening Bank Account and Internet Banking Registration
- Certified Company Documents Extracting
- Translation and Gramma Correction
- Legalization by Ministry of Foreign Affair
- Legalization by Embassy
- Power of Attorney
- Notary Public
Contact us for free legal advices and affordable services.