Company formationAsiaA Thai private limited company is registered with the Department of Business Development by at least two promoters and can be majority foreign-owned only within the limits of the Foreign Business Act. As of November 2026, a company with half or more foreign shares needs at least THB 2 million in capital, and corporate income tax is 20%.
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Most foreign founders use a private limited company registered with the Department of Business Development (DBD). Two or more promoters sign the memorandum of association, shares have a par value of at least THB 5, and at least 25% of each share is paid before registration. The memorandum and the company can be registered on the same day.
The Foreign Business Act of 1999 treats a company registered in Thailand as foreign when foreigners hold half or more of its shares. Such a company may not operate the businesses in List One; List Two needs the Minister's permission with Cabinet approval, and List Three a licence from the DBD's Director-General with the approval of the Foreign Business Commission. Its minimum capital is at least THB 2 million, and at least THB 3 million for a business that needs permission under the lists.
| Route | Legal basis | What it gives |
|---|---|---|
| Thai majority, foreign shares under half | Foreign Business Act, s. 4 | Outside the Act; the DBD asks for bank evidence of each Thai shareholder's investment when foreigners hold under half or a foreigner signs for the company |
| BOI investment promotion | Foreign Business Act, s. 12 | A certificate from the DBD for a List Two or List Three activity, valid while the promotion lasts |
| Foreign Business Licence | Foreign Business Act, s. 8 and 17 | Permission for a List Three activity from the DBD's Director-General |
| Treaty | Foreign Business Act, s. 10 | Exemption on the terms of a treaty that binds Thailand; the BOI's 2026 guide names the Treaty of Amity for US investors |
A foreign director who works in the company needs a visa and a work permit. The BOI's 2026 guide lists the usual conditions on the employer: THB 2 million of registered capital and four Thai employees for each work permit. After registration the company obtains its corporate tax ID from the Revenue Department within 60 days.
Redomiciled coordinates the formation with licensed Thai lawyers and accountants, who give the legal and tax advice.
You will sell to Thai customers or hire locally and need a Thai entity, a tax ID and, once turnover passes the threshold, VAT registration.
Your project can be promoted by the BOI, which lifts the Foreign Business Act's limits on a listed activity while the promotion lasts.
The BOI's 2026 guide names the Treaty of Amity as a route for US investors to hold more than 49%.
You move to Thailand on a long-stay visa and want a company of your own; working in it needs a work permit unless your visa includes one.
Redomiciled coordinates the formation; licensed local agents file it. We start from where the company will trade and bank, and once it exists we introduce it to banking partners whose criteria fit. Formation and account opening are separate steps, each subject to its own checks.
The entity we recommend, with what banks will ask of the company, set against where it trades and banks.
We prepare the documents with you and coordinate the filing with our local partners.
We present the new company to banking partners whose criteria fit it.
Reminders for renewals, annual filings and the information banks request at periodic reviews.
Scope and fee are agreed with you up front, before any work begins.
They sign the memorandum of association; the shares must be fully subscribed before the company is registered.
Reserved online with the DBD before the memorandum is filed.
At least 25% of each share's par value, paid before registration; a foreign company also meets the Foreign Business Act's minimum capital.
Before the shareholding is fixed, confirm whether the activity is on List One, Two or Three and which route applies.
The yearly financial statements are audited by a licensed auditor before the shareholders approve them.
Optional, for projects in promoted activities; it brings a certificate under the Foreign Business Act.
General information, not tax advice. Your position depends on your circumstances.
Yes, outside the Foreign Business Act's lists and with at least THB 2 million of capital. A listed activity needs a Foreign Business Licence, a BOI certificate or a treaty right; List One stays closed, and List Two requires Thais to hold at least 40% unless the Minister lowers this with Cabinet approval. A Thai lawyer should confirm the list.
At least two promoters found a private limited company with the DBD and sign its memorandum of association. Where foreigners hold under half of the shares, or a foreigner signs for the company, the DBD asks for bank evidence of each Thai shareholder's investment.
The DBD's rules set a par value of at least THB 5 per share, with at least 25% paid before registration. A foreign company under the Foreign Business Act needs at least THB 2 million, or THB 3 million for an activity that needs permission, and the BOI's guide lists THB 2 million of registered capital per work permit.
A business liable to VAT registers before it starts trading, or within 30 days of its turnover passing THB 1.8 million a year. VAT is 7%, and returns are filed every month by the 15th of the following month.
Audited financial statements, approved by the shareholders within four months of the year-end and filed with the DBD within one month of approval; the corporate income tax return within 150 days of the year-end, after a half-year prepayment; and monthly VAT returns if it is registered.
Under section 12 of the Foreign Business Act, a company promoted by the BOI in a List Two or List Three activity receives a certificate from the DBD and is exempt from most of the Act while the promotion lasts. The BOI decides which projects it promotes.
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