Thailand Company Formation
Thailand Company Formation: Expanding Your Business in Southeast Asia’s Economic Powerhouse Main Characteristics and the basic rules of Company registration in Thaiwan
Thailand Company Formation with BRIS Group
BRIS Group provides professional Thailand company formation services for entrepreneurs and international investors looking to establish a business presence in Southeast Asia. Forming a company in Thailand offers access to a rapidly growing economy, strategic trade location, and a supportive business environment — making it an attractive destination for global entrepreneurs.
Our team manages the complete Thailand company registration process remotely, including corporate banking support, licensing, compliance, and ongoing administration. With BRIS Group, your Thai company will be fully compliant and ready for smooth operations across Asia and internationally.
A Comprehensive Guide for Non-Residents to Register a Company in Thailand
Thailand stands as one of Southeast Asia’s most attractive destinations for foreign investors, offering a blend of economic stability, skilled labor, strategic location, and government incentives. Known for its rapidly developing infrastructure and investor-friendly policies, Thailand company formation provides a gateway to the ASEAN market and access to over 600 million consumers.
This  guide explains everything you need to know about setting up a business in Thailand — from the advantages and types of companies to registration requirements, timelines, and tax systems.
Why Choose Thailand for Company Formation?
Thailand’s business environment offers a mix of affordability, strong infrastructure, and open trade policies. The government actively promotes foreign investment through the Board of Investment (BOI), granting tax incentives and simplified procedures for qualified businesses.
Key advantages of company formation in Thailand include:
- Strategic Location:Â Central position in Southeast Asia with excellent connectivity to ASEAN markets.
- BOI Incentives:Â Tax holidays and reduced import duties for promoted industries.
- Skilled and Cost-Effective Workforce:Â Competitive labor costs and high productivity.
- Modern Infrastructure:Â Advanced road, port, and telecom systems.
- Stable Banking and Financial System:Â Open to international transactions.
- Diverse Economy:Â Opportunities in manufacturing, tourism, IT, and renewable energy.
- No Foreign Exchange Controls:Â Free repatriation of capital and profits.
Types of Companies in Thailand
Foreign investors can choose from various legal entities depending on their investment objectives and ownership preferences.
- Private Limited Company (Co., Ltd.)
The most common form for foreign investors. It offers limited liability and requires at least three shareholders.
- Public Limited Company (PLC)
Suitable for large-scale operations and businesses planning to list on the Stock Exchange of Thailand (SET).
- Branch Office
A foreign company can establish a branch to conduct operations in Thailand under the parent company’s name.
- Representative Office
Ideal for market research and liaison activities, not permitted to generate revenue.
- Regional Office
Used by multinational groups to manage operations in the region, coordinating policies and marketing.
Advantages of Thailand Company Formation for Non-Residents
- 100% foreign ownership permitted in certain industries under BOI promotion.
- Strategic gateway to ASEAN and East Asian markets.
- Tax holidays and exemptions for promoted businesses.
- Developed infrastructure and digital readiness.
- Transparent incorporation process under Thai law.
- English-speaking professionals and service providers.
- Comprehensive double taxation treaties with many countries.
Disadvantages of Thailand Company Formation
- Most non-BOI companies must have 51% Thai ownership.
- Licensing requirements can vary by sector.
- Complex labor and immigration compliance for foreign employees.
- Thai language documents may be required.
- Corporate procedures involve regular reporting and audits.
Requirements for Company Registration in Thailand
To incorporate a company in Thailand, the following are required:
- Company name reservation through the Department of Business Development (DBD).
- At least three shareholders (can be individual or corporate).
- One or more directors (foreign or Thai).
- Registered office address in Thailand.
- Minimum capital of THB 2 million (recommended for foreign-owned companies).
- Memorandum and Articles of Association.
- Statutory meeting before registration.
- Tax ID and VAT registration after incorporation.
Procedure for Thailand Company Formation
- Reserve Company Name:Â File with the Department of Business Development (DBD).
- Draft Incorporation Documents:Â Prepare the Memorandum of Association and Articles of Association.
- Hold a Statutory Meeting:Â Approve company formation, issue shares, and appoint directors.
- Company Registration:Â File the incorporation documents with the DBD.
- Tax and VAT Registration:Â Obtain a corporate tax ID and VAT number from the Revenue Department.
- Open Corporate Bank Account:Â For company operations and capital deposit.
- Apply for BOI Promotion (if applicable):Â To enjoy investment incentives.
- Obtain Licenses:Â Industry-specific permits as required.
Timeframe for Company Formation in Thailand
|
Stage |
Estimated Duration |
|
Name Reservation |
1–2 business days |
|
Document Preparation & Statutory Meeting |
3–5 business days |
|
Company Registration |
3–7 business days |
|
Tax & Bank Account Setup |
3–5 business days |
Total Estimated Time: 2–3 weeks for full incorporation and setup in Thailand.
Corporate Tax System in Thailand
Thailand’s tax system is structured to encourage investment, with competitive rates and incentives for specific industries.
|
Tax Type |
Rate |
Notes |
|
Corporate Income Tax (CIT) |
20% |
Standard rate for resident companies. |
|
SME Corporate Tax Rate |
15%–20% |
For companies with net profits below THB 3 million. |
|
Withholding Tax |
10%–15% |
On dividends, interest, and royalties. |
|
VAT (Value Added Tax) |
7% |
Standard rate on goods and services. |
|
Capital Gains Tax |
20% |
Taxed as part of corporate income. |
Incentives:
- BOI tax holidays up to 8 years for promoted activities.
- Exemptions on import duties for machinery and raw materials.
- R&D and innovation-based deductions.
- Double taxation treaties (DTA)Â with over 60 countries.
How We May Help You with Our Professionals
Setting up a company in Thailand involves navigating multiple regulations and government bodies. Our expert team simplifies the process, ensuring full compliance and efficiency.
Our professional services include:
- Consulting on business structure and BOI eligibility.
- Company name reservation and registration with DBD.
- Preparation of incorporation and shareholder documents.
- Tax and VAT registration assistance.
- Opening a corporate bank account.
- Legal and accounting compliance.
- BOI application support and government liaison.
- Registered office and local representative services.
Start Your Thailand Company Formation Journey Today
With its robust economy, pro-investment climate, and central ASEAN location, Thailand offers unmatched potential for international businesses. Whether you aim to enter the manufacturing, service, or technology sector, forming a company in Thailand ensures access to a dynamic and expanding market.
Our team of professionals will manage every step of your Thailand company formation — from initial consultation to post-registration compliance.
Contact us today to establish your business in Thailand and begin your expansion into Southeast Asia’s most promising economy.
Questions & Answers
1. What is Corporation Tax in Thailand?
Corporation tax in Thailand is levied on the profits of companies operating within the country. The standard rate is 20%. Certain industries may benefit from reduced rates or exemptions, particularly those targeted for promotion by the government.
2. How is Income Tax structured in Thailand?
Income tax in Thailand is progressive, ranging from 0% to 35% depending on the amount of annual income. Residents are taxed on their worldwide income, while non-residents are taxed only on income earned in Thailand. Tax brackets are updated annually, and taxpayers can also access deductions.
3. What is VAT tax in Thailand?
Value Added Tax (VAT) in Thailand is currently set at 7%. It applies to the sale of goods and services, as well as imports. Certain goods and services, such as basic food items and medical supplies, may be exempted or zero-rated. Businesses must register for VAT if their annual revenue exceeds THB 1.8 million.
4. How are Dividends Taxed in Thailand?
Dividends paid to Thai residents are subject to a withholding tax of 10%. However, this tax may be reduced under double taxation treaties that Thailand has with other countries. Non-residents are typically subject to a 15% withholding tax on dividends from Thai companies.
5. Are there any other taxes in Thailand that businesses should be aware of?
Yes, aside from the key taxes mentioned, businesses in Thailand may also encounter specific industry-related taxes such as property tax, excise tax, and specific business taxes depending on their operations. Additionally, local government taxes may apply, depending on the business location.
Learn more: Visit our Full FAQ HUB page
or contact our tax and company formation team at[email protected]
What are the benefits of forming a company in Thailand as a non-resident?
Forming a company in Thailand as a non-resident offers several advantages, including access to one of Asia’s fastest-growing economies and favorable business conditions. Non-residents can benefit from limited liability, protecting personal assets from business debts. Additionally, Thailand provides various incentives for foreign investors, including tax exemptions and investment promotion schemes, making it an attractive location for international business operations.
What are the legal requirements for non-residents to form a company in Thailand?
Non-residents looking to form a company in Thailand must fulfill specific legal requirements, including having at least three shareholders, one of whom can be a non-resident. A minimum registered capital of THB 2 million is needed for foreign companies, and a registered office address in Thailand is mandatory. Additionally, obtaining a Foreign Business License may be required depending on the nature of the business.
How long does it take to register a company in Thailand as a non-resident?
The process of registering a company in Thailand as a non-resident typically takes around 2 to 4 weeks. This timeframe can vary based on several factors, including the efficiency of document preparation, approval from relevant authorities, and any additional permits required for specific business activities. Engaging a local legal expert can help expedite the process.
Do I need a local partner to establish a business in Thailand?
In many cases, non-residents are required to have a Thai national as a partner when establishing a business in Thailand. However, certain business activities allow for 100% foreign ownership under specific conditions, such as under the Board of Investment (BOI) promotion. It is essential to consult with legal experts to understand the best structure for your business.
What type of business entities can non-residents form in Thailand?
Non-residents can choose from several types of business entities to establish in Thailand, including limited companies, joint ventures, and branches. Among these, a limited company is the most common choice due to its limited liability feature. Each business structure has its own regulatory requirements and tax obligations, so it’s crucial to choose the one that aligns with your business objectives.
What taxes should non-resident companies be aware of in Thailand?
Non-resident companies operating in Thailand are subject to various taxes, including corporate income tax, value-added tax (VAT), and withholding tax on certain types of income. The standard corporate income tax rate is 20%. However, specific tax incentives and exemptions may apply, especially for businesses promoted by the Thai Board of Investment. Understanding the tax implications is vital for compliance and to optimize tax liabilities.
or contact our tax and company formation team at
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.
About Thailand
Capital: Bangkok
Region: Divided into 6 regions. Central Thailand, including the Thai capital of Bangkok, Eastern Thailand, Northern Thailand, Northeast (Isan), Southern Thailand and Western Thailand.
Language: Thai
Currency: Thai Baht (THB)
Time Zone: GMT+7
Dial Code: +66
Abbreviations: TH
Helping Your Company Thrive in Thailand With us, starting and running a business in Thailand will be easy and efficient!
- Full support of the company’s registration in Thailand: from the preparation of documents to their submission.
- Remote registration: all processes are online, wherever you are.
- Secretary and Treasurer: we can take on these important roles.
- Nominal directors and shareholders: we will ensure the confidentiality of your information.
- Help in opening a bank account: we will simplify this complex process.
- Registration for taxes, VAT and EORI: ensure all requirements are met.
- Website development: we will create a professional online representation for your business.
- Logo creation: we will design a unique and memorable logo for your brand.
- Full administrative support of the company: we will take over routine tasks.
- Mailing address organization: we provide a reliable mailing address for your business.
- Organization of the virtual office: we will ensure the professional image of your company.
- Telephone answering service: we will answer calls on behalf of your company.
- Accounting, audit and reporting: ensure accurate and timely accounting.
- Preparing and filing a VAT declaration: let’s save you the trouble.
- Interaction with local authorities: take over communication with state institutions.
- Trademark registration: protect your brand.
- More Emphasis on Customer Input.