By 2026, Thailand is becoming a central hub for Chinese companies going to Southeast Asia. With the continuous optimization of the Doing Business with Foreigners Act and the upgrading of DBD's online system, the registration of Thai companies by Chinese people has entered a new stage of “efficient compliance”. Whether it's cross-border e-commerce, digital services or import/export trade, a clear understanding of the registration conditions, process, account opening points and BOI policies is the first step to landing in Thailand.

Want to directly assess whether your business is suitable for incorporation in Thailand or get advice on BOI suitability? Leave a message with [Thailand + Industry + Expected Size] and I will help you match the program and cost range for free. If you need to register a Thai company, you are welcome to add our online customer service (WeChat: jxhqcy890 / Mobile: 16625410105) to arrange for a manager to answer questions, provide professional advice and full one-on-one service!

01

Explanation of major types of company formation in Thailand

I. Thai Joint Venture Co:

1. Characteristics: independent legal personality; shareholders are liable to the extent of their capital contribution.

2. Common structure: Thai shareholders holding >51%, foreign shareholders holding 49%

3. Risk alerts:Medium relative risk, need to pay attention to the balance of equity allocation and management rights

II. Thai partnership:

1. Characteristics: unlimited liability for the general partner; higher risk, usually not a mainstream entry method for foreign enterprises

2. Structural features:Jointly financed, operated and risk-shared by two or more partners

3. Risk alerts:High risk, partners have unlimited joint and several liability for business debts

III. Thailand Branch/Representative Office:

1. Characteristics:Strict restrictions on the scope of business without independent legal person status

2. Applicable scenarios:Suitable for temporary or short-term entry into the Thai market for market research, business contacts, etc.

3. Risk alerts:Restricted scope of business and inability to engage in direct profit-making activities

IV. All-foreign companies in Thailand:

There are generally 4 situations where full foreign funding is possible:

• Apply for BOI
• Apply for FBL (not a high pass rate, same process as BOI)
• Wholesale, retail, and purely exporting enterprises, which can reach full foreign ownership by contributing 100 million baht.
• American or U.S. companies

    In all but four cases.One would have to join the Thai shareholding 51% to operate or risk closing the company account and closing the company.

Manufacturing, AI, high tech, can try to apply for BOI, BOI can be fully foreign owned, as well as can purchase land in Thailand, according to the rating can enjoy the Thai government corporate income tax relief and other benefits.

Want to directly assess whether your business is suitable for incorporation in Thailand or get advice on BOI suitability? Leave a message with [Thailand + Industry + Expected Size] and I will help you match the program and cost range for free. If you need to register a Thai company, you are welcome to add our online customer service (WeChat: jxhqcy890 / Mobile: 16625410105) to arrange for a manager to answer questions, provide professional advice and full one-on-one service!

Remarks: Regarding the Foreigner's Business License (FBL):

General industry is basically not approved.

Businesses that require a Foreigner Business License (FBL) (Foreigners may hold 100% shares):

(1) Service industry, consulting, business services, business management, IT services (various cases), engineers, architectural services, construction engineering.

(2) Trading business, import, wholesale, retail, brokerage/agent.

(3) Other businesses, advertising, hotels, tourism industry, logistics (in many forms), warehouse services, restaurants.

If you have Thailand company registration, BOI application, other overseas company registration, overseas structure building, cross-border e-commerce tax compliance and other needs, welcome to sweep the code to add our online customer service (WeChat: jxhqcy890 / cell phone: 16625410105), to arrange for the manager to answer questions, provide professional advice and full one-on-one service!

02

Requirements for the registration of a joint venture limited company in Thailand

1. Registered Capital Requirements
   • No special requirements, generally the default registered capital is 1 million baht
   • No mandatory paid-in registered capital
   • If the plan is paid-in, after the company account is opened, the client injects 25% of the registered capital into the company account.
2. registered address
   • Must be a commercial address, no residential addresses
   • Lease contract, landlord's ID/book copy required
   • (We can provide registered address in Bangkok, Phuket, Chiang Mai, etc.)
3. Shareholders and Directors
   • Personal identification documents of all shareholders and directors (including color copies of ID cards and passports, passport signatures)
   • Provide the shareholding structure of the Thai company, i.e. the number and proportion of shares held by each shareholder (note that the proportion of shares held by Thai shareholders should be ≥51%)
4. Approval of company names

Provide 1-3 English company names for name verification:

• If the word “Thailand” appears in the company name, it must be placed in parentheses. 

4 Common Company Naming Formats.

• English name + CO., LTD.
• English name +(Thailand) CO., LTD.
• English name +(Thailand) CO., LTD.

Time limit for name verification: 1-2 working days, certificate of name verification will be issued upon completion of name verification.

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03

Analysis of the whole process of registering a Thai company

Streamlined process: as fast as 15 working days

Phase I: Pre-preparation (3-5 working days)

1. Company Name Approval (DBD Approval)
2. Drafting of Articles of Association (Thai-English)
3. Determination of registered address (lease filing)
4. Notarization and certification of shareholders' and directors' documents

Phase II: capital injection and capital verification (5-7 working days)

1. Opening of temporary bank accounts (for capital verification)
2. Contribution of registered capital by shareholders (to be remitted from abroad)
3. Certificate of capital verification issued by the bank (showing the words "registered capital")

Phase III: Company registration (5-7 working days)

1. Submission of registration application to DBD
2. Receive Certificate of Incorporation (ใบรับจดทะเบียน)
3. Tax registration (VAT + CIT)
4. Social security registration (required for more than one employee)

Phase IV: Post-processing (2-3 working days)

1. Engraving of company seals (official seal, financial seal, corporate seal)
2. Application for foreign business license (if foreign investment is involved)
3. Apply for a BOI certificate (if eligible)

Key Tips: If applying for BOI benefits, it is recommended to submit a BOI application before registration and register the company after approval to enjoy 100% foreign holding.

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04

Thailand Company Bank Account Opening

Information required to open a public account with Kasikorn Bank in Thailand:

• Certificate of incorporation, company seal
• Identification documents (e.g. passport copies, ID card copies, etc.) and details of all shareholders and directors
• Thai phone card in the director's name (need to have it for at least 30 days to be able to receive the verification code properly - used to bind the bank app)
• Email (Gmail or QQ) - for banking apps
• Original passport of the legal person

Note: The default currency is Thai baht, add US dollars and Chinese yuan. Communicate with our company in advance to confirm. Company full one month, need to make an appointment to open an account a week in advance.

The process of getting a public account with Kasikorn Bank in Thailand:

The director of the company needs to bring the following information, in person to the entry of Thailand to the Kasikorn Bank for account opening:

• Director's original passport, Chinese identity card
• Official seal of the Thai company
• Email (Gmail or QQ)
• Internet banking to reassign the Internet banking user name (English uppercase + lowercase + numbers more than 8 digits) and password (English uppercase + lowercase + numbers + symbols more than 8 digits, can not be duplicated with the user name)
• Thai phone cards in the name of the director

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05

Common Tax Rates for Thai Companies

The most common taxes involved are.Enterprise income tax, individual income tax, stamp duty, value-added tax, withholding tax (withholding tax)

Corporate income tax:

0-300,000 baht 0% tax payment; 300,000-3 million baht 15% tax payment; over 3 million baht 20% tax payment

Ps:Semi-annual filing, semi-annual filing to be submitted within two months after the end of the first six months of the fiscal year, and annual filing to be submitted within 150 days after the end of the fiscal year

Personal income tax:

1-150,000 baht 0% tax payment; 150,000-300,000 baht 5% tax payment; 300,000-500,000 baht 10% tax payment; 300,000-750,000 baht 15% tax payment; 750,000-1,000,000 baht 20% tax payment

1,000,000 - 2,000,000 baht 25% payable; 2,000,000 - 5,000,000 baht 30% payable; 5,000,000 baht and above 35% payable Ps: Monthly personal income tax payment calculated by dividing the annual net taxable income by 12 months.

Stamp Duty:

Stamp duty rate 1% on most contracts (a few instruments and deeds are levied on a piecemeal basis)

In general (sale and purchase contracts), the calculation is usually based on the following criteria:

0.5 Baht per 100 Baht (i.e. 0.5% of the contract amount).;

Calculation formula: Contract sum x 0.5%

Ps: Payment within 15 days of signing the contract, failure to pay the stamp duty on time will result in a late fee, and the unpaid instrument or deed cannot be used as valid evidence in civil proceedings.Withholding tax:

When a business pays a specific amount to a recipient, it is required to withhold and pay the tax due from that recipient Common types of services and tax rates for which withholding tax applies are (1) interest, transportation, and insurance 1% (2) advertising expenses 2% (3) services, income from services, royalties, and concessions 3% (4) income from rentals, sweepstakes, and public performances 5% (5) income from dividends 10%

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VAT Value Added Tax:

VAT Value Added Tax Rate: 7% 

Ps: Annual turnover of more than 1.8 million thai need to apply for VAT mandatorily

VAT Considerations for Thai Companies

1.Thailand Company Registration ≠ Automatic completion of VAT registration

• In Thailand, the business registration number and tax ID number are combined, i.e., after a company completes its registration with DBD, the thirteen-digit business registration number shown on the business license (Affidavit) is also the company's tax ID number;
• Company registration is the responsibility of the Department of Business Development (DBD), a unit of the General Directorate of Commerce (MOC), while VAT registration is under the supervision of the local tax office where the company's registered address is located. They are under different authorities;
• Any business that needs to register for VAT is required to submit an application for VAT registration to the tax office where the company's registered address is located (Application for registration PP01)

2. Can I invoice without VAT?

• Even if you are not registered for VAT, you can still issue an invoice to your customers, just not a Tax Invoice with a VAT point.
• Once a company is registered, the business registration number is equivalent to the tax code, so any expenses incurred by the business can be invoiced/taxed by the supplier on the business name and address tax code, so that these expenses can be included in the company's sales.

06

Thailand Company Tax Filing Node

1. After the VAT is processed down (after pp01 is completed):

(1) PP30 must be filed on time every month (usually by collecting all the company's documents, Tax Invioce, etc.), otherwise a fine of 500 baht will be incurred every month (the actual amount of the fine will be subject to the government's notice);

(2) Filing node: filing by the 15th of each month.

2. Mid-year review:

(1) Companies registered in January: mid-year review by August 

(2) Companies registered from February to December: no mid-year review is required for the current year, and the mid-year review is to be filed by August of the following year.

Note: Companies that do not submit VAT are also required to file a return, with a fine of 2,000-4,000 baht for late filing, which is cumulatively stacked (the actual amount of the fine is subject to government notification)

3. Annual review:

Companies registered in January-December, annual review by May of the following year

Note: Companies that do not submit VAT are also required to file, and overdue fines are cumulatively stacked (the actual amount of fines is subject to government notification)

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As one of the largest economies in ASEAN, Thailand is attracting global investors with its favorable business environment, preferential tax policies and vast market potential. Whether it is the transfer of manufacturing, cross-border e-commerce layout, or the expansion of the service industry, Thailand provides a mature legal framework and policy support.

However, Thai company registration involves a number of specialized aspects such as foreign capital ratio restrictions, BOI applications, tax compliance, etc. Negligence in any of these steps can lead to project delays or additional costs. Leave the professional work to the professionals in order to ensure that your investment journey in Thailand is smooth and worry-free.

If you have Thailand company registration, ODI filing, overseas company registration, bank account opening, annual audit, audit, accounting and tax, overseas structure building, cross-border e-commerce tax compliance needs, welcome to sweep the code to add our online customer service (WeChat: jxhqcy890 / cell phone: 16625410105), to arrange for the manager to answer questions, provide professional advice and full one-on-one service!