Enterprise Caiying Group provides the United States companies / Singapore companies / Japanese companies / Thailand companies / Malaysia companies / Canada companies / Mexico companies / Brazil companies / British companies / France companies / New Zealand companies / Vietnam companies / Indonesia companies / Philippine companies / Dubai companies and other foreign companies registered in the relevant business and taxation services, but also to provide the Hong Kong company / Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hainan company and other domestic companies registered corporate services, the company annual audit audit / bookkeeping and tax returns / payment of MPF / change of information / bank account opening / ODI filing / BVI registration / tax compliance / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop service, you have the need or interested in any time to drop me (phone and WeChat consulting: 13045886252 ).

NocNoc, Thailand's last major local e-commerce platform, to shut down soon

It is reported that recently, according to foreign media reports, in the fierce environment of e-commerce competition, Thailand's local e-commerce platform NocNoc announced that it will stop operating, marking Thailand's last large-scale integrated e-commerce platform controlled mainly by local capital formally withdrew from the market.

BetterBe Marketplace Co., Ltd. as the operator of NocNoc has decided to stop accepting all orders for goods and services as of 00:00 on February 9, 2026, and plans to complete the full shutdown of the platform by May 9, 2026.

According to an announcement submitted by Siam Cement Group (SCG) to the Stock Exchange of Thailand on January 9, BetterBe has notified the Electronic Transactions Development Authority of Thailand of its decision to terminate NocNoc's business.

SCG, through its indirect shareholding in BetterBe 50%, expects to recognize an accounting loss of approximately Baht 1.8 billion in the fourth quarter of 2025 (a non-cash item). In 2024 alone, BetterBe contributes a loss of approximately Baht 650 million to SCG's consolidated statements.

In terms of operating data, NocNoc has failed to turn a profit for a long time. According to Creden Data, a business data organization, BetterBe's revenue in 2024 was Bt322 million, down 21.8% year-on-year, with a loss of Bt1.123 billion for the year.Between 2015 and 2024, BetterBe's cumulative revenue was Bt3.26 billion, and cumulative loss was as high as Bt4.52 billion, with consecutive annual losses since 2017. BetterBe's cumulative revenue for the period from 2015 to 2024 was 3.26 billion baht with a cumulative loss of up to 4.52 billion baht, with consecutive annual losses since 2017.

Recall that NocNoc was established in 2005 with a registered capital of Bt6,852 million, initially focusing on home and lifestyle goods as its core positioning, and then attempting to expand into a wider range of lifestyle categories to cope with competition from foreign e-commerce platforms.

NocNoc's two major shareholders are SCG Marketplace Holding and Must Be Co., Ltd. each holding 50% shares with a combined investment size of approximately THB 3.9 billion. Must Be is a joint venture between ThaiBev Group and Frasers Property, each holding 50% shares, and will invest in BetterBe in 2023.

Several industry insiders pointed out that NocNoc's exit reflects the Thai e-commerce industry's high reliance on scale and long-term capital investment.

Thai e-commerce expert Pawoot Pongvitayapanu said NocNoc was once seen as the last local operator to build a "national e-commerce platform", but shareholders of listed companies are generally more concerned about short-term returns and are unwilling to bear losses in the long term, which is difficult to support the platform's sustained development in the highly competitive e-commerce industry. The platform's sustainable development. The success of e-commerce is often dependent on scale and sustained investment rather than short-term profitability, as demonstrated by the closure of JD Central in 2023.

Thanawat Malabuppha, CEO of Priceza, also said that NocNoc, despite having a strong capital base, shareholders eventually opted for a stop-loss exit in the context of a tightening economic environment and increasing competition.

With the closure of NocNoc, the Thai e-commerce market is now dominated by three foreign platforms - Shopee, Lazada and TikTok - with Shopee performing strongly, TikTok growing rapidly and Lazada remaining relatively stable.

Regarding the platform shutdown arrangement, NocNoc indicated that it will continue to accept orders until 23:59 on February 8, 2026, and will stop accepting new orders from February 9, 00:00 onwards.

The NocNoc platform promotion ended on January 9, 2026, the after-sales service for the generated orders will continue until 18:00 on April 8, the delivery of goods is expected to be completed by April 8 at the latest, and all the services on the platform will be officially terminated at 23:59 on May 9th. NocNoc will continue to fulfill its responsibilities for home improvement solutions and contractual services that are still valid.

In terms of payment arrangements, the NocNoc platform will continue to bill sellers in accordance with the established terms of service, with payment completed during the next Tuesday payment cycle after confirming complete delivery of the goods or services and having survived the statutory warranty period of 7 to 14 days.

The industry generally believes that NocNoc's exit further highlights the increasing concentration of the Thai e-commerce market. If local platforms lack long-term capital support and differentiated competitiveness, their survival space will be increasingly limited in the competition for subsidies and scale.

Meanwhile, relevant committees of the Thai Senate are also studying regulatory proposals in the draft Platform Economy Act to counter the impact of foreign e-commerce platforms dominating the market and low-priced imports on local businesses.

If you need to register a Thai company or need to localize the operation of Thailand, after all, whether it is stationed in Shopee, Lazada or TikTok such as Southeast Asian e-commerce giants, you can call or WeChat consulting: 13045886252, there are questions and answers, you can also provide services on behalf of the stationing.

01 Advantages of registering a Thai company

Located in the center of Southeast Asia, Thailand is an important ASEAN economy, with agriculture, manufacturing and tourism as its mainstays. The capital, Bangkok, is an international financial and logistics hub with excellent infrastructure.

Thailand has an inclusive culture, open policies, a population of 70 million and a strategic geographic location that provides access to global markets. The government has launched the "Thailand 4.0" strategy, which focuses on the development of high-tech industries and offers tax breaks, industrial parks and other incentives to attract foreign investment.

In addition, a vibrant consumer market, lower labor costs, and continued optimization of the business environment have made it a favored destination for global investors.

✅ Government incentives: The Thai government has introduced a series of incentives that allow foreign-controlled companies to be able to enjoy incentives in many areas.

✅ Location Advantage: Thailand is a centerpiece within the Asian region and is strategically located, making it ideal for businesses that need to trade across borders, in addition to being a member of the ASEAN countries, which makes it easy to trade with other ASEAN countries.

✅ Advantage of Trade Freedom: Thailand is currently involved in free trade agreements including: ASEAN Comprehensive Investment Agreement, ASEAN Framework Agreement on Services, Australia-Thailand Free Trade Agreement, Japan-Thailand Economic Partnership Agreement, U.S.-Thailand Treaty of Friendship and Economic Relations, etc., which enables the company registered in Thailand to do business to conduct free trade in the international arena.

✅ Saving on tax costs: Thailand's low tax rate, pioneering single tax system and various capital relief programs are very beneficial to companies that are new to the market and in their formative years.

If you plan to register a U.S. company/Singapore company/Japanese company/Thailand company/Malaysia company/Canada company/Mexico company/Brazil company/Britain company/France company/New Zealand company/Vietnamese company/Indonesia company/Philippines company/Dubai company and other foreign company registration related business and finance and tax services, or plan to register a Hong Kong company/Shenzhen company/Guangzhou company/ Shanghai company / Hangzhou company / Beijing company / Hainan company and other domestic companies registered business services, the company annual audit audit / bookkeeping tax / payment of MPF / change of information / bank account / ODI record / BVI registration / tax compliance / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop service, you can add my WeChat (phone with V: 13045886252) at any time to consult ↓↓↓↓ 

02 Types of Thailand Company Registration

Before registering a Thai company, you need to know which type of Thai company is right for you.

1) Joint Venture

A. Scope of business is not required.

B. Registered capital is recommended to be at least 2 million baht without capital verification.

C. The registration of a joint venture company requires at least one Thai shareholder with a shareholding of 51% or more, with a maximum of 1-3 foreign shareholders, who can be legal persons or natural persons, and it is recommended to use two Thai shareholders in order to avoid risks.

2) Wholly Overseas Incorporated (BOI)

A. The business scope of the wholly foreign-owned company is restricted, and it is generally a large-scale production and manufacturing enterprise.

B. Registered capital needs to be 10 million - 200 million baht, and capital verification is required after account opening.

C. Shareholders may be foreign legal or natural persons.

D. Directors may be foreign natural persons.

3) Branch Office

A. The scope of business is not limited.

B. Registered capital of at least 3 million baht.

C. Shareholders may be foreign legal or natural persons.

D. Directors may be natural persons of Thai nationality.

Note: If it is a small investment is recommended to open a joint venture company, because the BOI company procedures are more cumbersome, and approval down at least more than 3 months, and then go through the process of submitting an application to receive the BOI certificate, and then submit a project application to the Board of Investment, but also need to apply for a "foreign business license", after the audit is passed before you can begin to After the approval, we can start the operation in Thailand.

If you plan to register a U.S. company/Singapore company/Japanese company/Thailand company/Malaysia company/Canada company/Mexico company/Brazil company/Britain company/France company/New Zealand company/Vietnamese company/Indonesia company/Philippines company/Dubai company and other foreign company registration related business and finance and tax services, or plan to register a Hong Kong company/Shenzhen company/Guangzhou company/ Shanghai company / Hangzhou company / Beijing company / Hainan company and other domestic companies registered business services, the company annual audit audit / bookkeeping tax / payment of MPF / change of information / bank account / ODI filing / BVI registration / tax compliance / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop service, you can add my WeChat (phone with V: 13045886252) at any time to arrange ↓↓↓↓ 

03 Requirements for registering a Thai company

a. Type of company:Sino-Thai Joint Venture Limited Liability Company.

b. Registered capital:Up to 5,000,000 baht is not required to be paid up, and it is recommended that it can be done for 2,000,000 baht.

c. Scope of business:The scope of business needs to be clearly listed in the Articles of Incorporation, with no limitations.

d. Shareholder and Director Requirements.Shareholders: At least 2 persons, of which at least 1 is Thai, and the proportion of foreign capital shall not be higher than 49% (the proposal is 3 Thai shareholders with a total of 51%, and the remaining 49% shall be foreign shareholders), and there is no restriction on the nationality of the foreign shareholders, who can be either natural persons or corporations. Director: at least 1 person, can only be a natural person, no nationality restriction.

e. Registered address: You must have a local address, and we can provide you with an address to register your company.

04 Required documents for registering a Thai company

A. Provide 1-3 company names in English, Chinese is not acceptable.

B. The first page and visa page of the passport of the company's legal representative (signature authority).

C. Shareholder information: Individual shareholders need to provide a scanned copy of the shareholder's passport.

D. Shareholding ratio of the company's shareholders (Foreign Shareholder A: MR. XXXX49%, Thai Shareholder A: 17%, Thai Shareholder B: 17%, Thai Shareholder C: 17%).

E. Information of Thai shareholders (to be provided by the customer, if necessary, we will provide additional fees).

F. Initial registered capital of the company (within 5,000,000 baht).

G. Company registered address (to be provided by the customer, if we need to provide another fee).

According to the above information, to our company enterprise financial surplus entrusted to deal with the registration of Thai companies, and then you can get the certificate of registration of Thai companies as above.

If you plan to register a U.S. company/Singapore company/Japanese company/Thailand company/Malaysia company/Canada company/Mexico company/Brazil company/Britain company/France company/New Zealand company/Vietnamese company/Indonesia company/Philippines company/Dubai company and other foreign company registration related business and finance and tax services, or plan to register a Hong Kong company/Shenzhen company/Guangzhou company/ Shanghai company / Hangzhou company / Beijing company / Hainan company and other domestic company registration business services, company annual audit audit / bookkeeping tax / payment of MPF / change of information / bank account / ODI record / BVI registration / tax compliance / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop service, welcome to consult me (WeChat with the same number: 13045886252), or [Scanning the QR code below]! Match your needs, there will be a professional tax consultant to communicate with you in detail ↓↓↓↓  

05 Process or steps to register a Thai company

To set up a Thai limited company, you need to follow specific steps to register according to the following guide:

Step 1: Company Name Reservation

When booking any company name, the name booking guidelines provided by the Department of Business Development (DBD), Ministry of Commerce, should be followed.

We usually ask our clients to provide at least 2-3 bookable company names in case the required name is already taken or unavailable.

Step 2: Identification of promoters, shareholders and directors

To form a Thai limited company, you need to have at least two promoters and shareholders and one director to register and form a company.

If the shareholders are both Thai and foreigners, or if the shareholders are all Thai but the director is a foreigner, a certificate of the Thai shareholder's bank statement issued by the Bank of Thailand is required to prove that the amount of funds in his/her bank account equals or exceeds the cost of the shares held by each Thai shareholder.

We usually ask for details of the promoters, shareholders and directors of the company such as passport or Thai ID number, age, address, occupation, contact details etc.

Step 3: Filing of Memorandum of Association

The Memorandum of Association (MOA) must be submitted to the Department of Business Development (DBD) of the Ministry of Commerce, which includes the name of the company that has been successfully booked, the province in which the company is located, the objectives of the business, the registered capital, and the names of the promoters.

While there is no minimum capital requirement, the amount of capital should be sufficient and reasonable to meet the needs of the anticipated business operations.

In addition, if you plan to hire a foreigner, you will need a minimum capital of 2 million baht (THB 2,000,000) per foreigner in order to obtain a non-immigrant "B" visa and a work permit for them to work in Thailand.

Step 4: Convene a statutory meeting

Following the determination of the company's share structure, the approval of the Memorandum and Articles of Association, the election of the Board of Directors and the appointment of the auditors, a statutory meeting is convened to make all appointments.

Step 5: Registration

The directors of a company must submit an application for incorporation and pay the company registration fee within three months from the date of the statutory meeting.

Step 6: Incorporation of the company for corporate income tax purposes

All companies in Thailand are required to register for tax purposes. Businesses that are liable to pay Corporate Income Tax (CIT) must obtain a tax card and company registration number from the Inland Revenue Authority of Thailand (IRAT) within 60 days of the company's establishment or commencement of business.

Business operators who are liable to pay Value Added Tax (VAT) are also required to register for a VAT ID within 30 days from the date of sales of 600,000 baht.

Step 7: Opening a company bank account

Company bank accounts and internet banking can be opened in Thailand once the company is officially registered.

Some of the details required to open a company bank account include the bank and branch where the account will be opened, the type of account the company needs and who will sign the relevant documents. 

The registration process usually takes at least 9 days (mainly because the statutory meeting should be held at least 7 days before registration).

Both the company and the memorandum of association shall be registered with the Registrar of the Department of Business Development, Ministry of Commerce, in accordance with the prescribed format and conditions of the document.

If you plan to register a U.S. company/Singapore company/Japanese company/Thailand company/Malaysia company/Canada company/Mexico company/Brazil company/Britain company/France company/New Zealand company/Vietnamese company/Indonesia company/Philippines company/Dubai company and other foreign company registration related business and finance and tax services, or plan to register a Hong Kong company/Shenzhen company/Guangzhou company/ Shanghai company / Hangzhou company / Beijing company / Hainan company and other domestic companies registered business services, the company annual audit audit / bookkeeping tax / payment of MPF / change of information / bank account / ODI filing / BVI registration / tax compliance / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop service, you can add my WeChat (phone with V: 13045886252) at any time to arrange ↓↓↓↓ 

06 Frequently Asked Questions about Registering a Thai Company

1) How many shareholders are required to register a Thai company?

According to the law, there can be as few as 2 shareholders, but in practice, it is more common to have 3 shareholders. The shareholder structure can be 1 Thai + 2 foreigners, or 2 Thai + 1 foreigner, but no matter what the combination is, one premise remains unchanged: the total shareholding of Thai shareholders is ≥ 51%, and the total shareholding of foreign shareholders is ≤ 49%.

An example:1 Thai + 2 foreigners, the 1 Thai must hold at least 51%, and the remaining 49% will be divided between the 2 foreigners, it is up to you to discuss.

2) Can a foreigner be the legal owner of a company?

Can. Simply put, a "legal person" is the person who signs the company's documents and who represents the company and assumes responsibility for the company to the outside world. This role can be played by a foreigner, no problem.

3) Are there any visa requirements for foreigners to be shareholders?

No. You can be on any visa. It is possible to become a shareholder of a company as a foreigner as long as you go through the proper process.

4) What is the typical amount of registered capital? Does it need to be paid up?

A common starting point is 2 million baht, which in most cases does not need to be paid immediately. The exact amount will depend on the type of industry, the size of the company's plans, and whether or not foreign employees are to be hired.

5) Are there any industry restrictions on the business scope of a Thai company?

It has to be looked at in two ways:

A. Wholly foreign-owned companies:The industry is very restrictive and there is a whole list of negatives, and what you can or can't do depends on the specific category.

B. Thai-Foreign Joint Venture (Thai 51%+, Foreign 49%-) Companies:This is usually regarded as a "Thai company", industry restrictions are relatively small, very many industries can be done, and then according to the specific content of the business to apply for the corresponding industry license can be.

If you plan to register Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hong Kong company and other domestic company registration related business services, also provides the United States company / Canadian company / Mexico company / British company / New Zealand / Singapore company /Thai company/ Vietnam / Malaysia companies and other foreign companies registered in the relevant business services, company annual review / bookkeeping and tax / payment of MPF / change of information / bank account opening / ODI filing / cross-border e-commerce run on behalf of the operation of the enterprise one-stop services such as enterprises can look for enterprises Caiying Group for, welcome to consult me (WeChat with the same number: 13045886252), or [Scanning the following two-dimensional code] to match your needs. There will be a professional tax consultant to communicate with you in detail ↓↓↓↓ 

07 Why choose Enterprise Caiying Group?

🏆 Why choose Enterprise Finance? --Professional strength, global trust

Enterprise Caiying Group, since its establishment in 2015, has always been adhering to the mission of "empowering every entrepreneurial dream", focusing on providing one-stop globalized industry, commerce, finance and tax and business services for enterprises.

Our bottom line, from the deep precipitation and authoritative certification:

✅ Service Scale Witnesses Reputation: Accumulated services for more than 300,000+ enterprises, long-term cooperation with more than 50,000+ customers.

✅ Global Network Local Support: Branches are set up in Beijing, Guangzhou, Shenzhen, Hong Kong, Southeast Asia, and the United States, with services covering Asia, Europe, and the Americas.

✅ Official certification qualification escort: with 3 Hong Kong government certified licensed secretarial firms, a U.S. branch and a self-employed Hong Kong accounting firm, and at the same time is the vice president of the Shenzhen Agency Bookkeeping Association, etc., to ensure that the service is fully compliant and reliable.

The four core advantages of Enterprise Caiying's overseas company registration service:

🔹 1. A team of experts to guide you throughout the process

Our team of nearly 400 professionals consists of senior lawyers, accountants, tax accountants and cross-border business consultants. They are well versed in international regulations, handle thousands of high-end cases annually, and can provide optimal customized solutions from structural design to on-the-ground implementation.

🔹 2. digitally empowered, smart and efficient

We have spent 20 million RMB to research and develop our own digital system "Echobo", which realizes process standardization and progress visualization. The integration of AI intelligent analysis can provide quick insight into demand and assist in generating solutions, making complex affairs clear, transparent and efficient.

🔹 3. Eco-links, extra value

We connect over 500,000+ entrepreneurs with domestic and international associations. By regularly organizing cross-border salons, tax law seminars and other activities, we not only solve registration problems, but are also committed to linking resources and creating business opportunities for you.

🔹 4. Full-cycle accompaniment for worry-free sailing

Our services go beyond "successful registration". We provide a full life cycle of services from early consultation, mid-term implementation, to late financial and tax declaration, annual audit and maintenance, and compliance consulting, to become your long-term and stable partner for overseas expansion.

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Image source: some of the image material in this article from the network, such as copyright issues, please contact us to replace the deletion of processing.

Information reference: The content of this article is synthesized from the internal materials of Enterprise Caiying and relevant public network information.

Content Editor: This article was edited and designed by the Operations Department of the Enterprise Caiying Group.

Warm reminder: The relevant policies, conditions, time limits, fees and other information described in this article may be subject to dynamic adjustments, please refer to the latest official announcements or the actual application of the specific circumstances prevail.