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Company Establishment Services

Set the foundation for your business success with our streamlined company establishment services in thailand.

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Thailand, with its vibrant economy and strategic location in Southeast Asia, has become an attractive destination for foreign investors looking to establish a business presence. There are various business structures available, ranging from sole proprietorship to Public Company Limited. However, the private company limited structure is the most common choice among foreign investors due to its flexibility and ease of establishment.

Before embarking on the process of setting up a local entity in Thailand, it is essential to navigate through several crucial step.  AO’s experienced team can guide you through each stage, ensuring a smooth and compliant establishment of your business.

Here is a comprehensive overview of the key steps involved, to make sure you’re aware of and compliance with the requirements of Thailand’s various authorities applicable to your case.

 

  1. Registering the Company Name with DBD (Department of Business Development):
  • Begin by choosing a unique and acceptable company name.
  • Submit the chosen name to the Department of Business Development for approval and registration.
 
  1. Identifying Shareholders and Directors:
  • Clearly identify and designate shareholders and directors for the company.
  • Ensure compliance with Thai regulations regarding the eligibility of foreign individuals or entities as shareholders and directors.
 
  1. Prepare the Memorandum of Association:
  • Draft and finalize the Memorandum of Association (MOA), which outlines the company’s objectives, registered capital, and internal regulations.
  • Obtain signatures from shareholders and directors.
 
  1. Statutory Meeting:
  • Conduct a statutory meeting with shareholders to finalize company matters, such as approving the MOA, appointing directors, and determining the registered capital.
 
  1. Registering the Company in Thailand:
  • Submit the necessary documents, including the approved MOA, to the Department of Business Development for company registration.
  • Obtain the certificate of incorporation once the registration is complete.
 
  1. Registering VAT and Online Tax System (e-filing):
  • Register for Value Added Tax (VAT) with the Revenue Department.
  • Set up an online tax system (e-filing) for efficient tax management and compliance.
 
  1. Registering Social Security:
  • Enroll the company and its employees in the Social Security System to ensure compliance with social security regulations.
 
  1. Opening a Company Bank Account:
  • Select a reputable bank in Thailand and open a company bank account.
  • Ensure that all financial transactions comply with local regulations.
 

AO experienced team is ready to assist you throughout this entire process, managing the preparation and submission of documents, facilitating tax and VAT registration, handling Social Security enrollment, and navigating the complexities of visa and work permit applications. By choosing us as your one-stop shop outsourced partner, you can focus on running and growing your business while we take care of the administrative tasks and ensure compliance with Thai regulations.

Once your company has been completely registered with the DBD, it is the legal responsibility to main copies of the following documents for the safety of shareholders and in case of request for inspection of compliance by the Thai Ministry of Commerce, other government authorities, auditors, or legal proceedings:

  • Certificate of Incorporation;
  • Company’s Affidavit;
  • Shareholder List;
  • Minutes of Statutory Meetings;
  • Articles of Association;
  • Memorandum of Association;
  • Particulars of Company Registration;
  • Registration of Directors;
  • Share Register Book (consistent and up to date with all original shares issued and tracking any subsequent changes in shareholding).
 
 Learn More About: Thai Law & Thai Economy

Want to consult about Your Corporate Services? Contact us

We have specialist team ready To get started for you. 

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Chuanpit Ngamsanga

Senior Legal Director

Point Of Contact

Khun Chuanpit is a Certified Lawyer and Notary Public who heads our legal services team that assists our clients in ensuring proper corporate set-ups and legal compliance. She joined AO in 2012 and holds her law degree from Ramkhamhaeng University. She also has an MBA from the University of Waikato in New Zealand and an Accounting Bachelor’s degree from Srinakarinwirot University.‍

Khun Chuanpit plays a key role in assisting clients with company formation and registration of business licenses and BOI applications. She also handles our clients’ corporate secretarial, visas and work permits, ongoing BOI compliance and other regulatory reporting.

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The Most Frequent Questions

The cost of setting up a company in Thailand can vary significantly depending on several factors such as the type of business, scale, and legal requirements. Generally, for a private limited company, expenses include government registration fees, legal fees, and potentially consultant fees if you're using a service. On average, you might expect costs to range from 15,000 to 50,000 Thai Baht. This does not include any special licensing fees required for certain types of businesses.

To set up a company in Thailand, follow these steps:

  • Company Name Reservation: Reserve your company name with the Department of Business Development (DBD).
  • File a Memorandum of Association: This includes the company name, province where the company will be located, scope of the company's business, capital to be registered, and names of the promoters.
  • Convene a Statutory Meeting: After filing the memorandum, convene a statutory meeting to appoint directors, auditors, and address other legal matters.
  • Company Registration: Register your company with the DBD.
  • Tax and VAT Registration: Register for VAT and the e-filing tax system.
  • Social Security Registration: Mandatory if you employ staff.
  • Open a Company Bank Account: This is usually done after the company registration is completed.

The equivalent of an LLC in Thailand is a "Private Limited Company." The process of starting it involves the steps mentioned above: reserving a company name, filing a memorandum, convening a statutory meeting, registering the company, and fulfilling tax, VAT, and social security obligations.

If you have more questions?

In Thailand, the closest equivalent to an LLC (Limited Liability Company) is the "Private Limited Company." It has shareholders with limited liability (limited to their share investment) and directors who manage the company.

Yes, foreigners can set up a company in Thailand. However, there are restrictions on foreign ownership, depending on the business type. In most cases, the Thai Foreign Business Act requires a minimum of 51% Thai ownership. However, under certain business categories and with a BOI (Board of Investment) promotion, it is possible to have majority or complete foreign ownership.

Owning 100% of a business in Thailand as a foreigner is generally restricted. However, there are exceptions, such as businesses promoted by the BOI, certain export-oriented businesses, and companies within the US-Thailand Amity Treaty (applicable only to American citizens). It's essential to consult with legal professionals to understand the specific regulations and exceptions that may apply to your business.