How to start a company in Thailand (Step by Step)

Starting a company in Thailand requires a clear understanding of local procedures, laws and costs. Here is a step-by-step guide that covers the key aspects of the process:

Step 1: Choosing the type of business and its structure

Where to go: Research the market and decide on the type of business. Choose a business structure (a limited liability company is most often appropriate for foreigners).

! Decide on the legal form of your business

There are several forms of business ownership in Thailand, including:

Private Enterprise

Partnership

Limited Liability Company (Co., Ltd.)

For foreign investors, the limited liability company form is most often chosen because of the flexibility and liability protection.

Step 2: Reserving a company name

Where to go: the Department of Business Registration (DBD) of Thailand.

What to bring: Name options for your company.

Cost: Approximately 1,000 baht (about 30 USD).

Step 3: Preparing the Articles of Incorporation

What to bring: Articles of incorporation, list of shareholders, directors' details.

Tip: Hire a lawyer in Thailand to prepare all the necessary documents and comply with the requirements.

Step 4: Register the company

Where to go: the Department of Business Registration (DBD).

What to bring: Articles of incorporation, proof of name reservation, proof of office address, identification details of shareholders and directors.

Cost: The registration fee depends on the company's registered capital, but can roughly range from 5,000 to 25,000 baht (150 to 750 USD).

Step 5: Obtain a corporate bank account

Where to go: To the bank of your choice in Thailand.

What to bring: Company registration documents, passports and directors' documents.

Tip: Choose a bank with conveniently located branches and English-speaking service.

Step 6: Registration for tax and social security purposes

Where to go: Local tax office to obtain a tax number and register for social insurance.

What to bring: Company documents, proof of bank account.

Cost: Not a significant expense, but may require the services of an accountant.

Step 7: Obtain special licenses (if required)

Where to go: Specialized government agencies depending on the type of business.

What to bring: Specific documents for your type of business.

Cost: Depends on the type of license.

Step 8: Hiring Staff

Where to go: Work with local recruiting agencies or use online staffing platforms.

Tip: Make sure you meet all legal requirements for hiring and social security.

Step 9: Compliance with regulations and norms

What to do: Consult with your lawyer and accountant regularly to ensure your business is compliant with local laws, tax and labor regulations.

Tip: Keep in mind that laws can change, so it's important to stay on top of current requirements.

Final Tip

Thailand has strict foreign ownership laws and restrictions on certain types of businesses. Make sure you are fully compliant with local laws and regulations.

The process can be complicated and time-consuming, especially if you are not familiar with the language and laws of Thailand. It is highly recommended that you use the services of professional consultants and lawyers who specialize in doing business in Thailand. This may increase your initial costs but will help you avoid mistakes and delays.

We recommend to follow the updates in specialized chats (Telegram chats), and also subscribe to the Housebook Telegram channel: https://t.me/housebookthai, where we regularly post the latest news!