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.
Region: Divided into 6 regions. Central Thailand, including the Thai capital of Bangkok, Eastern Thailand, Northern Thailand, Northeast (Isan), Southern Thailand and Western Thailand.
Currency: Thai Baht (THB)
Time Zone: GMT+7
Dial Code: +66
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:
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.
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.