Legal Insights

Setting up a company in Thailand

The process of setting up a company in Thailand typically takes approximately 7-14 days, depending on when our firm receives all the necessary information from the client. Generally, the company registration can be completed on the date of registration and we can obtain the company’s affidavit and certified documents from the Department of Business Development (DBD) on the same date.

1. Setting up a company in Thailand
Company registration in Thailand is divided into 2 cases:

    1. Registering as a Thai company is a juristic person with at least 51% of shares must be held by Thai individuals, while foreigners can hold shares up to 49%.
    2. Registering as a foreign company if the company intends to register with more than half of the shareholders being foreigners (50% or more) or 100% foreign ownership, it should apply for the Board of Investment (BOI) or the Foreign Business License (FBL).

A limited company requires at least 2 natural persons as promoters (initial shareholders). Promoters must be shareholders, a requirement that must be maintained throughout the company’s operation. However, shareholders can be either natural persons or juristic persons.

2. Documents required for the registration of a limited company
In the company registration process, after reserving the company name and preparing the memorandum of association, entrepreneurs must register with the Department of Business Development (DBD). The required documents for registering a limited company include the following:

    1. Application for registration of a limited company. (Bor.Aor.Jor.1 Form)
    2. Certificate of registration of a limited company.
    3. Memorandum of Association (Bor.Aor.Jor.2 Form) with affixed duty stamp in the amount of 200 Baht.
    4. List of establishment registration (Bor.Aor.Jor.3 Form)
    5. Objective form (Wor. Form)
    6. Details of directors (Gor. Form)
    7. Form for notifying the results of the reservation of the juristic person’s name that is not yet due.
    8. Evidence of approval for the establishment of a company to run business from the relevant agencies (Used only in the business operations that are under special laws such as Banking business, Insurance business, Finance business, Securities business, Credit Foncier business, Credit information business, Asset Management warehouse business, Silo business, or Cold Storage business)
    9. List of shareholders (Bor.Aor.Jor.5 Form)
    10.  A copy of the list of shareholders or proxies in the meeting to approve the business in which the company was established with the signature.
    11.  Copy of the report of the meeting to establish the company.
    12.  Copy of the regulations affixed with 200 Baht duty stamp. (if any)
    13.  Copy of evidence of receipt of payment of shares issued by the company to shareholders.
    14.  In the case of a limited company with foreign shareholders holding less than 50 percent of the registered capital or in the case of a limited company that does not have a foreigner as a shareholder but the foreigner is a director authorized to sign or co-sign to bind the company, prepare documents and evidence issued by the bank to certify or show the financial status of each shareholder with Thai nationality must be submitted in support of the registration application and these documents have to show the amount that corresponds to the amount invested in each shareholder’s shares
    15.  1 copy of SSCH 1 form
    16.  Map showing the location of the principal office and nearby landmarks.
    17.  A copy of the identity card of the promoters and all directors.
    18.  Copy of proof of signature (if any)
    19.  Power of Attorney with stamp duty (In case the applicant cannot apply for registration by oneself)

If you’re a foreigner intending to establish a company in Thailand and seeking our assistance, or if you need advice regarding the further steps after completing company registration, please contact our firm at email: info@tplaw.asia