• First this article will run through the different types of businesses available in Thailand starting with Limited Companies which are the most popular.
• Choose your business type and then read on to find out how to register the business you want.
• For a detailed FREE CONSULTATION call ONETHEVISA.

There are many routes to starting a business in Thailand and as a foreigner you have a few options. The process is relatively simple and not too costly, as long as you follow the guidelines and have the right documentation prepared. We recommend consulting with a lawyer to speed up the process and/or to help navigate your way through the more tricky parts of the system.

Company registration for Limited companies are widely chosen as the primary business structure in Thailand. These companies require two shareholders who hold unpaid shares. Foreign ownership in these shares cannot exceed 49% in total. The shareholders must include a director or a director’s name must be submitted. The business must also appoint an accountant to ensure compliance with the Civil and Commercial Code and the Revenue Code of Thailand, and to submit company books annually. Additionally, directors of the company are eligible to apply for work permits for foreign employees.

• Reserve your company name with a local Department of Business Development (DBD) office or you can now complete the Thai business registration online (https://ereg.dbd.go.th/ERegistMemberWeb/nonmemberpages/home.xhtml)

  Your business name must obey usual copyright laws, registered in both Thai and English. You can suggest 3 names to DBD to give yourself a higher success rate.

  The trading name of your business can be different from the company name and once approved it will be valid for 30 days. If your registration isn’t completed in this time it will be forfeited.

  You will need to collect and prepare the following:

• The objectives of the company
• The Registered Capital for starting the company.
• The names, addresses, occupations and signatures of theshareholders with their share percentage.
• A registered address for the company.
• The name of the proposed company.

• Submit your documents with a DBD office. Once completed, you will receive the registration documents along with a company/tax ID.

  The registration fee for a private limited company is THB 5,500 per THB 1 million of the registered capital. If you are requiring work permits you will need 2 million registered capital for each book.

• Once registered you can apply for and obtain a company corporate tax ID card from the Revenue Department.

  VAT payments are only required for companies who employ foreigners or have a  yearly revenue of 1.8M THB. 

It is possible for a foreigner to own a business in Thailand but the process is more complicated. A foreign owned business is any business that has more than 49% of shares in the hands on foreign nationals. The Foreign Business Act governs these types of business and businesses that wish to be foreign owned must obtain a Foreign Business License before commencing its operations in Thailand.

It is simple to apply for a BOI company but consult a lawyer to make sure that your company complies with their specifications. You can find out more on how to do E-registrations here

This type of business is owned and registered by and in the name of a single individual. He or she functions also as the operator. This type of business is not available to most countries. US citizens under the US-Thai Amity Treaty can register a Sole Proprietorship Business in Thailand. Foreigners who have married a Thai can register a sole proprietorship in the name of their spouse. 

Sole Proprietorships are easy to set up with minimal legal requirements. Using only identity documents the sole proprietor is personally liable for the business, which differs from a company limited. There are minimal costs as a sole proprietor can operate from their residence instead of renting an office. Tax is also simpler, with no corporate tax, profits are taxed through personal income.

To set up a sole proprietorship in Thailand you will need the following:

• A signed copy of the house registration book of the business address (This can be the sole proprietor’s residence address). If the business address is not the owners then a letter of consent signed by the owner of the building is valid too.
• Passport or ID
• A map of the business address
• Taxpayer number
• VAT certificate
• Application Form

Begin with registering the company name with the DBD office. This can take a couple of days. Make sure to give at least three names to avoid clashing with other registered businesses and slowing down the application process.

Next, to obtain a Certificate of Incorporation, upload your documents on the DBD e-registration portal. To begin with you will not need to register to pay VAT. This is not necessary until the business earns over 1.8million in revenue per financial year. 

For foreigners working in sole proprietorships they must also obtain a valid visa and work permit.

Make sure that your business registers for other licenses if necessary. Contact a lawyer to check to see if your business is fully compliant.

• Unregistered Ordinary Partnership – Partners equally share responsibilities and liabilities for any adverse events. Additionally, this form lacks legal recognition at present.
• Registered Ordinary Partnership – This variant necessitates registration with the relevant authority, providing it with legal status and independent legal rights, responsibilities, and liabilities.
• Limited Partnership – This category encompasses two partner types: the unlimited liability partner and the limited liability partner. The former bears complete and indefinite responsibility, irrespective of their partners’ contributions. Conversely, the latter’s liability is limited to their partners’ contributions.

Although registering partnerships can be easier than other registering other company structures, one cannot apply for work permits or open company bank accounts and is not the advised route for foreigners starting a new business in Thailand.