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Thailand Company Formation

Attractiveness for investors:

Strong government support, modern infrastructure, skilled and cost-effective workforce.
Thailand’s policy is aimed at liberalisation and free trade.
Strategic location in Asia, diverse manufacturing sector and thriving economy.

Popular Company in Thailand:

Partnership, Limited Companies, and Joint Venture

Tax Rates in Thailand

Corporation Tax: A company incorporated under Thai laws will be considered as a resident company and be subject to the 20% corporate income tax (CIT) rate.

Income Tax: There is a progressive scale and system of exemption from taxes on income: from 20% to 35%

VAT 0-7%: registration is required only if goods or services are sold in Thailand.

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

What we can do for your Company in Thailand

We do all paperwork on forming the company in Thailand
Formation is completely remote
Can act as Secretary or Treasury
Provide nominee Directors/Shareholders
Assist with opening a bank account
Registration for Taxes, VAT & EORI
Develop a website for your business
Create a logo of your brand

Provide with full company administration services
Arrange a mailing address for your business
Arrange a virtual office for your company
Telephone answering service
Book keeping, audit & reporting
Preparing and submitting VAT return
Dealing with local authority
Trademark registration

Thailand Company Formation. Thiland Limited Company Registration

Main Characteristics and the basic rules of Company registration in Thailand

Limited Company – a legal entity whose liability is limited by shares. Suitable for both local business and international activities. 51% of the shares are owned by a Thai citizen. However, if you do not receive income from Thailand, this rule may not be observed.

There are also forms of companies with foreign participation:

Thailand Manufacturing Company: 100% export oriented manufacturing organization.

Foreign Business License: a foreign company whose purpose is to create economic benefits in the state (organization of new jobs, payment of taxes, etc.)

BOI (Board of Investment Company) is an innovative, investment company that invests in the development of the country (investments from 3,000,000 THB).

A limited liability company (Limited) must have:

Directors

Appointed from one director. His citizenship and residency are irrelevant. If there is no activity in Thailand, it is not required to formalize the director.

Shareholders

The company is owned by at least 3 shareholders. If an organization sells goods or services in Thailand, then 51% of the shares are owned by Thais.

There are no mandatory requirements for hiring local employees if the activity is carried out outside the country.

The minimum amount of the authorized capital is 15 baht. In order not to raise additional questions from the bank, we recommend depositing at least 200,000 baht (about 3,000 USD).

If activities are planned in Thailand, then the capital must be adequate for the planned business. For example, when obtaining a work permit, the base amount reaches 2 million baht.

To register a company in Thailand and open an account, the director will need to fly to Thailand.

For complete information and advice, you can contact BRIS GROUP team.

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.

Our team of consultants are here to take you through the process.

We provide a wide range of offshore companies formation, administration and fiduciary services for internal and external clients worldwide. We help to maintain an offshore company in accordance with the regulations, laws and tax authorities of the foreign state in which it is registered for non-resident clients.