How to Set Up a Company in Thailand in 2025? 

• Set up a company in Thailand to benefit from the country’s booming economy and lively Southeast Asian market. Thailand is a business-friendly country with streamlined processes, making it an attractive destination for entrepreneurs and investors. Ranked 21st globally in ease of doing business by the World Bank, Thailand continues to draw substantial foreign direct investment, with over THB 1.5 trillion (approximately US$48 billion) in cumulative FDI as of 2022.  

• The Thai government actively supports new businesses with tax incentives, simplified procedures, and a stable economic framework. In 2023, over 60,000 new businesses were registered, showcasing the country’s appeal to entrepreneurs worldwide. If you register company in Thailand it is not about setting up an enterprise, but it is more about unveiling avenues for growth in one of Asia’s most dynamic markets. 

Steps to set up a company in Thailand  

Step 1: Choosing the optimal business structure 

• Before registering your company in Thailand, it is important to determine the most appropriate business structure for you. Depending on your business goals and long-term strategy, Tetra Consultants will be able to advise you on the most suitable business entity, the paid-up share capital, corporate structure, and the necessary licenses. The most popular form of business entity in Thailand is the private limited company, also referred to as a “company limited by shares.” 

Step 2: Reserve a company name 

• Tetra Consultants will help with reserving your company name with the Department of Business Development, under the Ministry of Commerce. The name reservation has a validity period of up to 30 days, and you can submit three name options with each application. The name has to abide by certain regulations; it ends with “Limited” if a company is a private limited. It also should not sound restricted to words like “investment.” It must also be unlike other companies existing, it must be simple in pronunciation to Thai language. 

Step 3: Preparation of necessary documents 

• Registration in Thailand involves submitting necessary documents such as Memorandum of Association and Articles of Association. Tetra Consultants will draft these documents that detail your company’s name, objectives, registered address, share capital, proportions of shareholders, and applicant details. The fee for registering these documents is charged according to the capital registered and is in the range of THB 500 to THB 25,000. 

Step 4: Holding the statutory meeting 

• Once the incorporation documents are approved, a statutory meeting must be held. This meeting sets the foundation for the company by implementing the Articles of Association, appointing directors and auditors, approving shares, and setting terms for promoters. At least 25% of the authorized capital must be paid by the subscribers under the directors’ instructions before proceeding. 

Step 5: Registration of the company 

• After the statutory meeting, Tetra Consultants will register your company with the Ministry of Commerce. Registration has to be done within three months from the date of the statutory meeting, and it involves submitting details about the directors, shareholders, and share capital with relevant fees. After registration, employers have to enroll their staff in the social security system within a month of hiring. 

Step 6: Tax registration 

• Within 60 days from the date of incorporation, Tetra Consultants will apply for the corporate tax identification number for your company with the Revenue Department. If your annual turnover is expected to exceed THB 1.8 million, we will also enroll your company for Value Added Tax. 

Step 7: Corporate bank account opening 

• Lastly, Tetra Consultants will assist in the corporate bank account opening with a reputable Thai bank. Certified documents such as the Certificate of Incorporation, Articles of Association, and notarized passports of directors are required for this. As the opening of the bank account must be carried out locally, Tetra Consultants can represent you by way of a Power of Attorney if you cannot travel to Thailand. 

Requirements to set up a company in Thailand 

The requirements majorly depend on the business structure chosen. Thus, for a Private limited company in Thailand requirements are as follows: 

• At least 1 director without nationality requirements. 

• At least 3 shareholders with foreign shareholders can hold up to 49% of the company shares only. To comply with such requirements, we provide nominee director and shareholder services requirements. 

• The company must comply with BOI promotion. 

• If the company 51% shares are hold by American citizens and 50% of directors are held by American citizens, then they can opt to set up their company under the Treaty of Amity. 

• A minimum of three promoters must be appointed to register the company. 

• There is no specific minimum registered capital requirement. 

• At least 25% of the total share value must be paid up at the time of registration. 

• If foreign ownership exceeds 49%, a minimum registered capital of 2 million THB is required for each foreign employee to obtain work permits. 

• A physical address in Thailand must be provided for the company’s registered office. 

Conclusion 

• Set up a company in Thailand can be an hassle-free and efficient experience, giving you a head start in setting up your business through the expertise of Tetra Consultants. Our experts ensure all of your company name reservations, documentation drafting, registration processes, tax registrations, social security setup, and opening a corporate bank account, keeping within the set rules of Thai law.