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Register Company in Thailand

September 5, 2023

[av_section min_height=” min_height_pc=’25’ min_height_px=’500px’ shadow=’no-border-styling’ bottom_border=’no-border-styling’ bottom_border_diagonal_color=’#333333′ bottom_border_diagonal_direction=” bottom_border_style=” padding=’default’ custom_margin=’0px’ custom_margin_sync=’true’ av-desktop-custom_margin=” av-desktop-custom_margin_sync=’true’ av-medium-custom_margin=” av-medium-custom_margin_sync=’true’ av-small-custom_margin=” av-small-custom_margin_sync=’true’ av-mini-custom_margin=” av-mini-custom_margin_sync=’true’ svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_opacity=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_opacity=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” color=’main_color’ background=’bg_color’ custom_bg=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=’https://www.fionzaglobal.com/wp-content/uploads/2023/08/atlantis-resort-bahamas-1470×600-1-300×122.jpg’ attachment=’2070′ attachment_size=’medium’ attach=’scroll’ position=’top center’ repeat=’stretch’ video=” video_ratio=’16:9′ overlay_enable=’aviaTBoverlay_enable’ overlay_opacity=’0.5′ overlay_color=’#000000′ overlay_pattern=” overlay_custom_pattern=” custom_arrow_bg=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” css_position_z_index=” av-desktop-css_position_z_index=” av-medium-css_position_z_index=” av-small-css_position_z_index=” av-mini-css_position_z_index=” id=” custom_class=” template_class=” aria_label=” av_element_hidden_in_editor=’0′ av_uid=’av-w9nyw8′ sc_version=’1.0′]

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Fionza Consultants specializes in facilitating seamless company registration in Thailand, offering a comprehensive service package. Our offerings encompass Thailand company registration, corporate bank account setup, and handling accounting and tax obligations. Elevate your business journey with Fionza Consultants, your ultimate one-stop solution for initiating a legally compliant business in Thailand.
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Company Registration – 16 Week
Local Director? – No
Bank Account Opening – 4 Weeks
Travel Required – No
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[av_heading heading=’Register company in Thailand: Introduction’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5ubac3′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Experience a hassle-free company registration in Thailand with Fionza Consultants, freeing up your time and resources for more critical priorities. Our efficient team ensures a smooth process for setting up your company in Thailand, adhering to a lean-and-mean approach.

Benefit from our comprehensive service package designed to cover all your needs for registering a company in Thailand:

Streamlined registration with the Department of Business Development.
Local company secretary services and a registered address.
Corporate bank account opening assistance.
Annual accounting and tax services.

Count on Fionza Consultants to guide you through the entire process, with our ultimate aim being to have your Thailand company operationally ready within the specified timeframe.
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[av_heading heading=’How long to register company in Thailand and open a corporate bank account?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5ui8ml’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Count on Fionza Consultants for a smooth and hassle-free Thailand company formation process. Upon receiving necessary due diligence documents from directors and shareholders, our team conducts a thorough Thailand company registration search to verify the availability of your desired company name.

The entire registration process with the Department of Business Development can be conducted remotely, eliminating the need for you to travel to Thailand. Expect to receive your new company documents, including the Certificate of Incorporation, Articles of Association, and Memorandum of Association, within 4 months.

Following successful company formation, Fionza Consultants will guide you in opening a corporate account with a local Thai bank or an overseas global bank, tailored to your long-term goals. Typically, the process of opening a bank account in Thailand for foreigners takes about 1 month.

With Fionza Consultants by your side, you can anticipate commencing operations and issuing invoices with your Thai Company within 5 months of engaging our services. Our team of Chartered Accountants ensures ongoing compliance with regulatory laws set by the Thailand Revenue Department, providing services such as monthly bookkeeping, financial statement preparation, and annual tax return filings for your newly established company.
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[/av_one_full][av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” row_boxshadow=” row_boxshadow_width=’10’ row_boxshadow_color=” custom_margin=” margin=’0px’ av-desktop-margin=” av-medium-margin=” av-small-margin=” av-mini-margin=” mobile_breaking=” mobile_column_order=” border=” border_style=’solid’ border_color=” radius=” min_col_height=” padding=” av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_flip=” svg_div_top_invert=” svg_div_top_front=” svg_div_top_opacity=” svg_div_top_preview=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_flip=” svg_div_bottom_invert=” svg_div_bottom_front=” svg_div_bottom_opacity=” svg_div_bottom_preview=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” column_boxshadow=” column_boxshadow_width=’10’ column_boxshadow_color=” background=’bg_color’ background_color=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=” background_position=’top left’ background_repeat=’no-repeat’ highlight=” highlight_size=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” animation=” animation_duration=” animation_custom_bg_color=” animation_z_index_curtain=’100′ parallax_parallax=” parallax_parallax_speed=” av-desktop-parallax_parallax=” av-desktop-parallax_parallax_speed=” av-medium-parallax_parallax=” av-medium-parallax_parallax_speed=” av-small-parallax_parallax=” av-small-parallax_parallax_speed=” av-mini-parallax_parallax=” av-mini-parallax_parallax_speed=” fold_timer=” z_index_fold=” css_position=” css_position_location=” css_position_z_index=” av-desktop-css_position=” av-desktop-css_position_location=” av-desktop-css_position_z_index=” av-medium-css_position=” av-medium-css_position_location=” av-medium-css_position_z_index=” av-small-css_position=” av-small-css_position_location=” av-small-css_position_z_index=” av-mini-css_position=” av-mini-css_position_location=” av-mini-css_position_z_index=” link=” linktarget=” link_hover=” title_attr=” alt_attr=” mobile_display=” mobile_col_pos=’0′ id=” custom_class=” template_class=” aria_label=” av_uid=’av-itowyg’ sc_version=’1.0′]

[av_heading heading=’Can a foreigner register company in Thailand?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5ullml’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

Explore diverse business entity options offered by the Thai government for foreign investors with Fionza Consultants guiding you through the steps and requirements for Thailand company registration.

Typically, foreign ownership in a Thailand limited company is capped at 49% unless registered under the Board of Investment (BOI) program. Fionza Consultants can advise you on this process, helping you unlock benefits like tax advantages, work permit issuance, and 100% foreign ownership for companies under the BOI program.

Businesses engaged in specific sectors, including Agriculture, Mining, Ceramics, Basic Metals, Technology, and more, are eligible for BOI promotion. The company must undertake at least one eligible activity listed by the BOI in the designated sector. The minimum capital requirement for a BOI company in Thailand is generally THB 1 million.

If a Thai company doesn’t qualify for BOI, it cannot be entirely foreign-owned. While there’s no nationality requirement for directors, a minimum of 51% of the company shares must be owned by Thai shareholders. However, this 51% requirement may be reduced or waived if the company obtains a Foreign Business License. This license is applicable for foreign-owned businesses serving foreign nationals. Trust Fionza Consultants to navigate these complexities and streamline your path to establishing and operating a successful business in Thailand.

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[av_heading heading=’Is it possible for a Thailand company to be wholly foreign-owned?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5uq7we’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

Unlock complete foreign ownership for your Thailand company through three strategic avenues. The first option is securing a Thailand Board of Investment (BOI) promotion, a government initiative designed to attract foreign investment. Companies applying under BOI can enjoy 100% foreign ownership, along with enticing tax incentives. Eligibility for BOI promotion is limited to specific business activities in designated sectors, and compliance with work permit regulations is essential.

The second avenue is obtaining a Foreign Business License, granting companies the ability to operate in sectors the Thai government deems less competitive with local businesses. Holding this license facilitates greater foreign ownership for your company.

The third avenue, exclusive to US citizens, is the Treaty of Amity. This bilateral agreement between the Thai Kingdom and the US government bestows special privileges upon American business owners establishing a company in Thailand, including the unique advantage of full ownership.

Rely on Fionza Consultants to guide you through these pathways, ensuring a seamless process to achieve 100% foreign ownership for your Thailand company.

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[av_heading heading=’Types of business entities to consider when you open a company in Thailand’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5utreu’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Fionza Consultants is your trusted partner for setting up a company in Thailand, offering expert guidance on the diverse business entities available. Consider these four main types:

Private Limited Company:
- The most common choice for foreign businesses.
- Provides shareholder protection against company liabilities.
- Requires a minimum of 3 shareholders and 1 director.
- Foreign shareholders can hold up to 49% unless a BOI promotion or Treaty of Amity is secured.
Limited Partnership:
- Involves 2 or more co-owners sharing profits and losses.
- Partners are personally liable for business debts.
- Limited partnerships allow up to 49% foreign ownership.
Branch:
- Foreign companies can establish a branch in Thailand.
- Allows for 100% foreign ownership.
- Governed by the Foreign Business Act, requiring a local business activities license.
Regional Office:
- Designed for support services, not income-generating activities.
- No trading activities allowed.
- Ideal for consulting, training, financial management, and research and development services.
Representative Office:
- Similar to a regional office but limited to specific activities.
- Can only engage in 5 types of activities, serving the head office, subsidiaries, or affiliates.
- Prohibited from conducting income-generating business activities.

Whether opting for a Private Limited Company, Limited Partnership, Branch, Regional Office, or Representative Office, Fionza Consultants ensures a smooth and compliant setup, tailored to your business goals. Let us navigate the complexities, providing the guidance you need for a successful venture in Thailand.
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[av_heading heading=’How to set up a company in Thailand?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5uxqw0′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Embark on the journey to register your company in Thailand with Fionza Consultants, ensuring a seamless process through these key steps:

Step 1: Optimal Business Structure Selection Prioritize your business goals with Fionza Consultants, who will guide you in selecting the most suitable business entity, paid-up share capital, corporate structure, and relevant licenses based on your needs.

Step 2: Name Reservation Fionza Consultants initiates the process by searching and reserving your company name through the Department of Business Development. The chosen name, complying with naming guidelines, will be reserved for 30 days.

Step 3: Document Preparation Fionza Consultants assists in drafting the essential Memorandum of Association and Articles of Association. The Memorandum includes crucial details like the company’s name, business goals, registered address, and share capital. A registration fee is paid based on the capital sum.

Step 4: Statutory Meeting Commencement Upon approval of incorporation documents, a statutory meeting is convened to implement articles of association, elect directors and auditors, and settle financial matters. Resolutions require majority agreement, and after the meeting, the management is transferred to the directors.

Step 5: Company Registration Fionza Consultants proceeds to register the company with the Ministry of Commerce within 3 months of the statutory meeting. The application includes director details, company address, share information, and payment details. A fee, based on registered capital, is paid.

Step 6: Social Security Enrollment Post-registration, Fionza Consultants assists in enrolling staff in the social security system. The employer’s contribution, currently at 5%, must be remitted to the Social Security Office by the 15th of each following month.

Step 7: Tax Registration Within 60 days of incorporation, Fionza Consultants applies for a corporate Tax Identification Number from the Revenue Department. VAT registration is pursued if the expected annual turnover exceeds THB 1.8 million.

Step 8: Bank Account Opening Fionza Consultants facilitates the opening of a corporate account with a reputable bank. Required documents, certified by a local Thai embassy, include the Certificate of Incorporation, Articles of Association, list of directors and shareholders, and notarized passports. A representative, authorized by Power of Attorney, will open the account on behalf of your company.

Trust Fionza Consultants to navigate these intricate steps, ensuring a successful and compliant company registration in Thailand.
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[av_heading heading=’Accounting and tax obligations after you register company in Thailand’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5uzaww’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Navigating the tax landscape in Thailand is crucial for your company’s financial health, and Fionza Consultants is here to guide you through the intricacies:

Tax Control by Thailand Revenue Department: Taxes in Thailand fall under the purview of the Thailand Revenue Department, with specific rates and benefits contingent on your chosen business structure. Notably, Thailand has tax treaties with 61 countries to mitigate double taxation risks.

Tax Benefits Under Thai Law: Choosing to register under Thai law affords your company various tax benefit schemes, including:

Income tax holidays from 3 to 8 years for businesses with Investment Promotion Privileges.
Reduction or exemption of import duties for businesses with Investment Promotion Privileges or those in Free Trade Zones.
200% deduction for the cost of hiring qualified researchers in research and development projects.
150% deduction for the cost of employee training to enhance human capital.
Initial allowances for medium- or small-sized companies on the acquisition date for computers (40%), machinery (40%), and plant (25%).

Annual Reporting Requirements: All companies, Thai or foreign, must submit tax returns and payments twice a year. Semi-annual returns are due within 2 months after the first half-year period, with payable tax at 50% of the projected yearly net profit. Annual returns are due within 150 days after the fiscal period ends.

Tax Rates: The local corporate income tax rate is typically 20% of net profits. However, certain businesses, like those with a paid-up capital below 5 million baht or listed on the country’s Stock Exchange, may enjoy a lower rate. Additionally, companies selling goods and services are subject to a 7% Value-Added Tax (VAT), and Fionza Consultants will assist in VAT registration.

Withholding Tax for Foreign Companies: Foreign companies not conducting business in Thailand face withholding tax on specific income categories from local sources:

Remittance of profits: 10%
Dividends: 10%
Other income (interests, royalties, capital gains, rents, and professional fees): 15%

Fionza Consultants stands ready to assist you in navigating and optimizing your tax considerations in Thailand.
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[av_heading heading=’Foreign Business License (FBL)’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5v0qyv’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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This pertains to a license essential for companies seeking to engage in business activities restricted to foreign nationals, including those with a majority of foreign shareholders. As per the Foreign Business Act, companies applying for the Foreign Business License (FBL) cannot participate in specific activities without special approval. These activities are categorized into three lists:

List 1: Activities strictly prohibited for foreigners, such as media-related businesses, newspaper operations, rice farming, livestock farming, forestry and wood fabrication, extraction of Thai herbs, fishery within Thai waters, and the sale of objects of historical value.

List 2: Business activities related to national safety or security, art, culture, traditions, customs and folklore, handicrafts, natural resources, and the environment.

List 3: Business activities where Thai nationals are not prepared to compete with foreigners.

While List 1 activities are off-limits for foreign companies holding an FBL, activities in List 2 and List 3 are permitted under specific terms and conditions. Companies wishing to undertake restricted activities listed in List 2 and List 3 must apply for an FBL.

For businesses holding an FBL, the minimum capital required is THB 2 million. However, for those conducting restricted activities listed in List 2 and List 3, the minimum capital requirement is THB 3 million. Fionza Consultants stands ready to assist your company in navigating the complexities of obtaining and maintaining compliance with the Foreign Business License in Thailand.
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[av_heading heading=’Why register company in Thailand?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5v1dja’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Before deciding to establish a company in Thailand, gaining a comprehensive understanding of the business landscape is crucial. This ensures that your newly formed entity can navigate the legal and operational aspects while aligning with your long-term business objectives.

Political Landscape: Thailand actively participates in international organizations like ASEAN, WTO, and IMF, fostering a globalized business environment. While addressing corruption challenges, ranked 104/180 in the Corruption Perceptions Index, the country is leveraging education and AI, presenting potential business opportunities. Thailand holds the 3rd position for Protecting Minority Investors, safeguarding corporate assets and shareholder rights.

Economic Environment: As the second-largest economy in ASEAN, Thailand boasts upper-middle-income status, recognized for economic achievements, fiscal strength, and low public debts. With a Global Competitiveness Report Index of 62.4 (ranked 40/141 in 2019), the country provides a favorable business environment. Attracting foreign direct investments, Thailand focuses on higher value-added production and expansion into emerging export markets.

Social Factors: Thailand exhibits a 93% literacy rate, reflecting a highly educated workforce. While grappling with corruption, initiatives such as AI integration, education campaigns, and cultural approaches contribute to addressing these challenges. With one of the world’s lowest unemployment rates (estimated at 0.8% in 2020), the nation offers stability for businesses.

Technological Trends: Known for its adaptability, Thailand was the first in Southeast Asia to adopt agriculture biotechnology. The country embraces new technologies, particularly in areas like agriculture and cybersecurity. As a technology-savvy nation, Thailand prioritizes innovation in response to evolving global needs.

Environmental Considerations: With tourism as a major industry, Thailand faces environmental challenges such as biodiversity loss, air and water pollution, and deforestation. These challenges create opportunities for businesses focusing on sustainable practices and green initiatives. The government supports technological advancements in agriculture (e.g., smart farming using GPS) and food technology, aligning with Thailand’s role as a significant net food exporter.

Understanding these facets of the Thai business landscape is fundamental for making informed decisions when establishing and operating a company in the country. Fionza Consultants can provide tailored guidance to ensure your business thrives in this dynamic environment.
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[av_heading heading=’Free Zone in Thailand’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5v2bmm’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

The Thai government is actively fostering opportunities for foreign investors to trade, invest, and establish businesses in the country. With a focus on promoting border trade and addressing developmental gaps, Thailand has strategically invested in industrial estates and supported entrepreneurs in logistics, agricultural processing, and labor-intensive manufacturing. The establishment of Special Economic Zones (SEZs) along the borders with neighboring countries further enhances trade prospects.

Sa Kaeo Province, situated near a seaport and Bangkok, emerges as a hub for international wholesale and retail trading. With proximity to the Aranyaprathet International Border Checkpoint, it’s a pivotal location for cross-border trade between Thailand and Cambodia. The province specializes in rice harvesting machinery, automobiles, motorcycles, and non-carbonated drinks.

Trat Province, renowned for its tourism appeal, serves as an ideal Free Zone for companies in tourism and service industries. Connected to the Koh Kong Special Economic Development Zone in Cambodia, Trat is a significant exporter of beverages, milk and food supplements, granulated sugar, plastic utensils, and motorcycles.

Chiang Rai Province, strategically linked to Yunnan Province in Southern China, plays a crucial role as a major trading route between China and Thailand. Known for agro and food processing, furniture, and wood products, Chiang Rai exports consumer products, fuel oil, agricultural goods, livestock, and mangosteen.

Mukdahan Province acts as a vital channel for transporting goods to Vietnam and Southern China. Noteworthy foreign investments include Nikon’s camera parts factory and a factory producing aircraft seats and equipment (Aeroworks). Exports from Mukdahan include processor and memory units, printed circuits, and other electronic parts.

Nakhon Phanom Province serves as a commercial route through Vietnam and South China, with plans to develop a railway connecting to the main railway of Thailand. The province predominantly produces agricultural products such as rice, sugar cane, and cassava.

Nong Khai Province facilitates cross-border trade between Thailand and Laos and boasts a well-integrated transportation network. With potential for development, it offers opportunities for both local and foreign investors. The province mainly exports petroleum, motorcycles, and other vehicles.

Narathiwat Province, connected to Malaysia through the Asian Highway No. 18, is a commercial port for transporting fishing products, wood products, and consumer goods. Exports from Narathiwat include boats and various consumer products.

Songkhla Province, located in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT), plays a crucial role in expanding economic activities to neighboring countries. The joint Special Economic Development Zone enhances business prospects for investors in the service and manufacturing industries.

Kanchanaburi Province is connected with the special economic development zone of Myanmar and the eastern seaboard of Thailand. With a focus on commerce, investment, tourism, and logistics, the province deals largely in food products.

Tak Province, linking to Yangon, the economic capital of Myanmar, has abundant labor to support development in the area.

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[av_heading heading=’Looking to register company in Thailand?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lm5v3aon’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Discover comprehensive solutions for establishing your company in Thailand with Fionza Consultants. We offer a range of services, including company formation, registered agent services, registered address assistance, and business bank account opening. Contact us now to explore detailed insights on registering a business in Thailand. Our skilled and dedicated team ensures a response within 24 hours, addressing all your queries. Unlock the potential of your business in Thailand with Fionza Consultants!
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[av_heading heading=’FAQ’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-2ou7go’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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[av_toggle title=’What is the best business in Thailand?’ tags=” custom_id=” av_uid=’av-lm5v4oxz’ sc_version=’1.0′]

The nation has a thriving tourism and agriculture sector. These are profitable sectors that you may consider when setting up a business in.

The tourism sector constitutes a significant part of the country’s economy. Every year, a huge number of visitors flock to the nation to enjoy its beaches and to experience its culture. In fact, it is one of the most visited countries in the world, hence setting up a business in the tourism industry is likely to be profitable.

Another industry to consider is the agriculture and fishing industry. Thailand is the world’s third-largest seafood exporter. Besides tourism, agriculture is the biggest industry, and half of the working population are also in agriculture. There are numerous business opportunities you can find in these sectors. For example, businesses that provide technology and equipment to improve farming and fishing methods are likely to have a huge client base domestically.

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[av_toggle title=’How much does it cost to start a new business in Thailand?’ tags=” custom_id=” av_uid=’av-lm5v5fbc’ sc_version=’1.0′]

There are no share capital requirements for a Thailand private limited company. However, private limited companies that have a majority of foreign shareholders are required to apply for a license to conduct business locally. The minimum capital requirement for the license is THB 2 million.

Companies that apply for the Board of Investment (BOI) promotion will also require a minimum capital of THB 1 million.

As for Fionza Consultants’ engagement fees, this will depend on the exact services required from Fionza Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Fionza Consultants believes in transparency with our valued clients and there are no hidden fees.

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No, a company secretary is not necessary. However, Fionza Consultants will provide you with a local secretary to assist in the annual tax filing and accounting requirements.

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[av_toggle title=’What are the activities that a foreign company in Thailand cannot engage in?’ tags=” custom_id=” av_uid=’av-lm5v6gpy’ sc_version=’1.0′]

Under the Foreign Business Act, a foreign company in Thailand is strictly not allowed to engage in business activities stipulated in List 1. This includes business activities related to media, newspaper, rice farming, livestock farming, forestry and wood fabrication, extraction of Thai herbs, fishery within Thai waters and the sale of objects of historical value.

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It refers to a license given to companies that wish to undertake business activities restricted to foreign nationals.

Alternatively, companies with a majority of foreign shareholders are also required to apply for this license. This will allow foreigners to own more than 49% of the company.

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Fionza Consultants recommends the Business Visa for anyone starting a business. This visa is for individuals seeking to invest in a business, or an existing start-up, and who will be working within the business.

Alternatively, specialists or experts of a certain field can choose to apply for the Non-Immigrant Expert Visa.

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[av_toggle title=’Where can I register my business in Thailand?’ tags=” custom_id=” av_uid=’av-lm5v984s’ sc_version=’1.0′]

Fionza Consultants can assist you to reserve your business name with the Department of Business Development.

After the documents for incorporation are approved, Fionza Consultants will register the company with the Ministry of Commerce after the statutory meeting has convened.

After registration, Fionza Consultants will assist your company in enrolling each member of the staff in the social security system.

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Register Company in Thailand

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