Company Formation and Incorporation - Thailand


Thailand is strategically situated in Southeast Asia, bordered by Cambodia to the southeast, Laos to the north and northeast, Myanmar to the north and west, and Malaysia to the south. It has extensive coastlines along the Andaman Sea to the west and the Gulf of Thailand to the east.

Thailand’s population is approximately 69.63 million, as of December 2019. The predominant ethnic group is Thai, with minorities of Chinese, Cambodians, Laotians, Malays and various indigenous hill-tribes. The national language is Thai, with minor regional variations. English is used in certain commercial circles and in tourist areas, but otherwise is not widely spoken.

Incorporation Process and Timeline


Limited Liability Company (Local)

Limited Liability Company (Foreign-owned)

Limited Liability Company (Free Zone)

Public Listed Company

Representative OfficeBranch  
 Minimum number of directors 1 1 1 1 1 1
 Minimum number of shareholders 3 3 3 15Parent Company Parent Company
 Local Presence (director/ shareholder/ officer)NoNo NoNoYesYes
 Maximum Foreign Shareholding 49% 100% 100% 100%100% 100%
 Physical registered office address requirement Yes YesYes YesYes Yes
 Minimum Paid Up Share Capital THB 15THB 2m – 3m THB 2m – 3m THB 50m THB 3mTHB 3m
 Security Deposit Required by Local Government NoNoNoNoNoNo
 Preference Shareholder Option Yes Yes Yes YesNo No
Incorporation Timeline 2 weeks 2 weeks 2 weeks2 – 3 weeks2 – 3 weeks2 – 3 weeks
Public Register of Shareholders and DirectorsYesYesYesYesYesYes

Taxation and Accounting


Limited Liability Company (Local)

Limited Liability Company (Foreign-owned)

Limited Liability Company (Free Zone)

Public Listed Company

Representative OfficeBranch

Corporate Tax

Annual Tax Return filingYesYesYesYesYesYes
Entry to double taxation treaties YesYesYesYesNo


GST Reporting to Local Government Yes YesYes Yes Yes Yes
Auditor RequirementYesYesYesYesYesYes
VAT Payable for local sales7%7%0%7%N/A7%
ConfidentialityDisclosure of public register of shareholders and directors 
Expatriate & local staff4:1 ratio
Security DepositsNo security deposits to the authorities/ government
International currency control on remittanceYes



Limited Liability Company (Local)

Limited Liability Company (Foreign-owned)

Limited Liability Company (Free Zone)

Public Listed Company

Representative OfficeBranch
General ActivityMost products and servicesMost products and servicesInternational TradingPublic FundingResearch and MarketingSupport Parent Entity

Local Citizen Sponsorship

No No No No No No
Access to residence visa (for owners) YesYesYesYesYesYes
Access to Government Grants Yes Yes Yes YesNo Yes
Conversion to a Public Listed Company?YesYesYesN/ANoNo
Local Citizenship RequirementNoNoNoNoNoNo
Maximum Staffs Allowed No Limit No Limit No Limit No Limit No Limit No Limit
Option to hire local staff Yes YesYes Yes Yes Yes
Obtain Import and Export License Yes Yes Yes Yes No Yes

Corporate Bank Account

Corporate Bank Account AvailableBank account in Asia, upon request.
Multi-currency optionYes
Multi-currency optionGreat
Corporate Debit CardsYes
Bank Account Opening Timeline1 – 4 months

Thailand offers the following benefits:

  • Good infrastructure
    Thailand has been popular amongst investors since the implementation of the Eastern Economic Carrodor (EEC), which has led to Thailand being on top of their transportation, logistics and infrastructural services.
  • Tax Incentives
    Reasonable corporate income taxes range from 10% to 30% depending on the profits. Moreover, corporate tax holidays can be granted by the Thailand Board of Investment (BOI) to companies investing in designated industries. Companies may also claim a 200% rebate on research and development costs, and allowance for job training expenses. All local businesses can also carry forward losses up to 5 years.
  • Easy company setup and procedures
    Thailand is reported as one of the easiest places to do business in the entire world, doing business in the country is straightforward. The easiness covers from the bureaucratic procedures to the application costs involved.
  • Large consumer market
    Thailand is ranked as the 40th most attractive consumer market in the world by the World Economic Forum.

Thailand Company Registration Guide 

Department of Business Development (DBD) The Department of Business Development (the “DBD”) (in Thai: กรมพัฒนาธุรกิจการค้า) is one of the Thai government agencies that most Thais and foreigners doing businesses in Thailand have to deal with most frequently.
The DBD is primarily responsible for regulating and enforcing the following laws:
• the Civil and Commercial Code, Book III, Title XXII (the law on partnerships and private limited companies);
• the Public Limited Companies Act;
• the Trade Associations Act;
• the Chambers of Commerce Act;
• the Act Prescribing Offences relating Registered Partnerships, Limited Partnerships, Limited Companies, Foundations and Associations (commonly referred to as the Corporate Offences Act);
• the Commercial Registration Act;
• the Accounting Act;
• the Accounting Professions Act; and
• the Foreign Business Operations Act (the “FBA”).

Desfran Services in Thaiand

With more than a decade of experience, our team at Desfran is here to meet your business needs beyond just company formation. We also provide the following services in the Thailand:

  • Company formation
  • Obtaining Tax Residency Certificate – on completion of 1 financial year*
  • Assistance in Business Management
  • Corporate Management advisory
  • Real Estate advisory for both residential and commercial properties
  • Provision of registered agent and registered address
  • Provision of company management, directorship, and shareholding services
  • License application assistance
  • Funds setup and structuring
  • Onshore/ Offshore bank account introductions and applications
  • Virtual office services and other corporate services
  • Nominee services

Application Process:

  1. Submit your interest here
  2. Our Offshore Formation Specialists will reach out to you for an in-depth discussion
  3. A customised proposal will be sent to you upon uncovering your needs,
  4. Upon the proposal confirmation, we will require the of the following information for the application
  • Proof of Identity
  • Proof of Residence (within the last 3 months)
  • director(s),
  • shareholder(s) and
  • beneficial owner(s)

Once the above has been approved, we will send you an invoice for payment.

The incorporation process will commence upon receiving payment

Contact us today.

Your one-stop cross-border service provider

Scroll to Top