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Set Up a Thai Company

To set up a company in Thailand

in 2026, you must navigate specific legal requirements, particularly regarding foreign ownership and capital. The Private Limited Company is the most common structure for both locals and foreigners. 

1. Key Requirements (2026)

  • Shareholders: At least two individual promoters/shareholders are required at all times.
  • Directors: At least one director must be appointed. While they can be a foreigner, having a Thai resident director is often recommended for local administrative ease.
  • Registered Capital:
    • Thai-owned: No strict minimum, though 1 million THB is common for credibility.
    • Foreign-owned: Minimum 2 million THB for non-restricted businesses or 3 million THB for restricted businesses under the Foreign Business Act.
    • Work Permits: To sponsor a work permit for a foreign employee, the company typically needs 2 million THB in registered capital and a ratio of four Thai employees per one foreigner. 

2. Registration Steps

  1. Name Reservation: Reserve a unique name through the Department of Business Development (DBD). Approval usually takes 1–3 days and is valid for 30 days.
  2. File Memorandum of Association (MOA): Submit the MOA to the DBD, including the company’s objectives, capital, and promoters’ details.
  3. Hold Statutory Meeting: Convene a meeting to adopt bylaws, appoint directors, and select an auditor.
  4. Final Registration: Submit the full registration application to the Ministry of Commerce within three months of the statutory meeting.
  5. Tax and VAT Registration: Obtain a Tax ID within 60 days of incorporation. If annual revenue exceeds 1.8 million THB, you must register for Value Added Tax (VAT) within 30 days of hitting that threshold. 

3. Ownership Structures for Foreigners

Under the Foreign Business Act, foreigners are generally restricted to 49% ownership of a Thai company. To achieve 100% ownership, you may use these paths: 

  • BOI Promotion: Apply through the Board of Investment for incentives in specific industries (e.g., tech, manufacturing).
  • US Treaty of Amity: American citizens and companies can hold 100% ownership in many sectors.
  • Foreign Business License (FBL): Request permission for specific restricted activities, though this process is complex and can take several months. 

4. Ongoing Compliance

  • Annual Audit: All limited companies must prepare audited financial statements and file them with the DBD and Revenue Department annually.
  • Social Security: If you have employees, you must register them with the Social Security Office within 30 days of hiring. 

These resources detail the steps involved in company registration in Thailand, covering name reservation, memorandum filing, and statutory meetings.