Enterprise Caiying Group provides Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hong Kong company / Hainan company and other domestic company registration related business services, but also to provide U.S. companies / Canadian companies / Mexican companies / Brazilian companies / U.K. companies / French companies / New Zealand companies / Japanese companies / Singapore companies / Thai companies / Vietnamese companies Indonesia / Malaysia companies Foreign company registration and other related business tax services, there is a need or interested in dropping me at any time (phone and WeChat consulting: 13045886252).

Up 20%-30%! Thailand's import tax on low-value goods kicks in

It was reported that Thailand began taxing all imported goods purchased online on January 1, a move the government said would create a "level playing field" for cheap local and imported goods.

Deputy government spokeswoman Lalida Persiwatana said the measure ended a long-standing tax exemption on goods worth less than 1,500 baht bought directly from overseas suppliers through e-commerce platforms.

From now on, all applicable import duties and value-added tax (VAT) will be applied to the first baht of the product's value, she said, adding that the move is aimed at reducing the unfair price gap between local businesses, especially small and medium-sized enterprises (SMEs), and low-priced imports that previously came into Thailand duty-free.

Ms. Lalida said, "This measure helps to create a level playing field, increase transparency and ensure that imported goods comply with Thai laws and standards."

It is expected that the prices of some items will be adjusted, especially fashion and apparel items, which may increase in price by around 20% to 30%, while the prices of other items will vary depending on the tax rate of each item.

Currently, more than 97% of imported online purchases have taxes and duties automatically calculated and included in the displayed price on major platforms, which means that buyers can continue to make a one-time payment and receive the goods at home without having to go through the tax payment process at Customs on their own.

The Customs Department has coordinated with major e-commerce platforms such as Lazada, Shopee, TikTok, Shien and Temu to step up inspections of imported goods.

Products that do not meet the requirements of the Industrial Standards Institute of Thailand (ISIT) or the Food and Drug Administration (FDA), as well as illegal items such as e-cigarettes, will be removed and banned from import.

Last year alone, imports with a unit price of less than 1,500 baht were worth about 30 billion baht, involving about 150 million to 160 million items, said Pantong Loykulnanta, director general of the Thai Customs Department. He said the policy is expected to generate about 3 billion baht in additional tax revenue.

If you need to register Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hong Kong company / Hainan company and other domestic company registration of related business services, but also to provide U.S. companies / Canadian companies / Mexican companies / Brazilian companies / U.K. companies / France / New Zealand companies / Japan / / Singapore companies / Thailand companies / Vietnam companies / Indonesia / Malaysia Companies and other foreign companies registered in the relevant business tax services, company annual review / bookkeeping tax / payment of MPF / change information / bank account opening / ODI record / 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 ↓ ↓↓↓ 

Therefore, today mainly for Southeast Asia cross-border e-commerce business owners, sharing Thailand company registration information and process to achieve localized operations.

01 ThailandfirmsInformation required for registration

1) Company name:Provide the company name translated into Thai and submit it to the Thailand Business Development Office, after the Thailand Business Development Office verifies the meaning of the Thai characters and whether there is any duplication of the company name, etc., it will reply to the result of the audit, and the Business Development Office will schedule the application according to the time of the applicant's submission, and the general time of the name verification will be 2-3 working days.

(2) Provide registered address materials:When registering a company, proof of registered address is required.

3) Determine the scope of business:The business scope of a private limited company is the same in the first 22 articles, which is equivalent to the company can operate the first 22 business scope after the establishment of the company (except for some industries need to apply for a license), and the special point from the 23rd article, each company will formulate the unique business scope, covering the production, processing, service research and development, and other business content.

4) Determine the registered capital:The minimum registered capital for foreigners to set up a company in Thailand is 2 million baht, but the final registered capital needs to be confirmed based on the actual operation of the company's registered capital.

Joint Venture (Restricted Industries):The Thai government requires that a joint venture company can only get a work visa for 1 foreigner for every 2 million baht of registered capital and social security for 4 Thais (BOI companies are not subject to this restriction).

Wholly Foreign Owned Institutions (BOI companies):The amount of registered capital shall ultimately be determined based on the investment plan reviewed and approved by the BOI.

5) Identify shareholders and legal signatories:

About the shareholders:Each company must be formed by a minimum of three promoters (i.e. natural persons) as shareholders of the company with a minimum of one share, and the relevant documents must be signed by the three promoters during the registration process.

Regarding legal signatories:The legal signatory may take the form of a single signatory, or two or three signatories at the same time, to establish effective legal signatory authority.

6) Design official seal:After designing and producing the company seal, the seal will be registered at the same time when submitting the company registration documents to the Office of the Business Development Authority of Thailand. The seal cannot be changed or replaced at will after the filing, and if it is to be changed, it must be registered again with the Office of the Business Development Authority for filing.

7) Drafting of registration documents and submission of documents:After the investor prepares the documents according to the above 6 items, he/she starts to draft the documents related to the company registration and submits them to the Business Development Office, which contains the scope of the company's business, the minutes of the company's establishment meeting, and the distribution of shareholders.

Usually a business license can be obtained within three working days after the information is processed.

If you need to register Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hong Kong company / Hainan company and other domestic company registration of related business services, but also to provide U.S. companies / Canadian companies / Mexican companies / Brazilian companies / U.K. companies / France / New Zealand companies / Japan / / Singapore companies / Thailand companies / Vietnam companies / Indonesia / Malaysia Companies and other foreign companies registered in the relevant business tax services, company annual review / bookkeeping tax / payment of MPF / change information / bank account opening / ODI record / 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 How to set up a Thai limited company

To set up a Thai limited company, you need to move forward according to the following specific steps:

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 (2) promoters and shareholders and one (1) director in order 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

Tax registration is mandatory for all companies in Thailand.

Businesses that are liable for Corporate Income Tax (CIT) must obtain a tax card and company registration number from the Thailand Revenue Authority within 60 days of incorporation 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 the 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 need to register Shenzhen company / Guangzhou company / Shanghai company / Hangzhou company / Beijing company / Hong Kong company / Hainan company and other domestic company registration of related business services, but also to provide U.S. companies / Canadian companies / Mexican companies / Brazilian companies / U.K. companies / France / New Zealand companies / Japan / / Singapore companies / Thailand companies / Vietnam companies / Indonesia / Malaysia Companies and other foreign companies registered in the relevant business tax services, company annual review / bookkeeping tax / payment of MPF / change information / bank account opening / ODI record / 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 ↓ ↓↓↓ 

03 Frequently Asked Questions on Company Registration

1) How many shareholders are usually required?

It is possible to have as few as 2 shareholders, but in practice it is more common to have as few as 3 shareholders.

The shareholder structure can be 1 Thai + 2 foreign or 2 Thai + 1 foreign, but regardless of the mix, one premise remains the same: Thai shareholders have a total shareholding of ≥ 51% and foreign shareholders have a total shareholding of ≤ 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, depending on their own negotiation.

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're on any kind of visa.

It is possible to become a shareholder of a company as a foreigner as long as you go through the formal 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 be affected by the type of industry, the size of the company's plan, and whether it needs to hire foreign employees.

5) Are there any industry restrictions on the company's scope of business?

There are two scenarios to analyze:

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.

Thai-Foreign Joint Venture (Thai 51%+, Foreign 49%-) Company: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 / Hainan company and other domestic company registration related business services, but also to provide U.S. companies / Canadian companies / Mexican companies / Brazilian companies / U.K. companies / France / New Zealand companies / Japan / / Singapore companies / Thailand companies / Vietnam companies / Indonesia / Malaysia Companies and other foreign companies registered in the relevant business tax services, company annual review / bookkeeping tax / payment of MPF / change information / bank account / ODI record / cross-border e-commerce accompanied by running on behalf of the operation of the enterprise one-stop services, etc. can be found in the enterprise CaiYing Group for, welcome to consult me (WeChat with the same number: 13045886252), or [Scan the following two-dimensional code] to match your needs, there will be a professional tax adviser and your detailed communication ↓↓↓  

04  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.