What are the regulations for doing foreign business in Thailand?
Depending on your business type and credentials, certain procedures or restrictions may apply. You’ll find all the details of what kind of approval you need and from whom within the Foreign Business Act B.E.2542.
If your foreign company has been granted permission by the BOI or the Industrial Estate Authority of Thailand (IEAT), certain procedures may not apply.
What are the procedures for starting a company in Thailand?
There are three kinds of business organizations in Thailand: sole proprietorships, partnerships and limited companies. The most popular form of business organization among foreign investors is the limited company. To start a company in Thailand a foreign investor must submit an application including details of the type of business and supporting documents to the Bureau of Foreign Business Administration.
Formation of a limited company requires five steps:
1. The company name must be registered with the Ministry of Commerce.
2. The filing of a Memorandum of Association (MOA) must be undertaken. The names of at least seven shareholders must be provided in the MOA.
3. A statutory meeting must be held.
4. The Directors must file a company registration application with the Ministry of Commerce.
5. The company must obtain an income tax identity card and number from the Revenue Department.
For more information on company registration and preparing your business application, please refer to Department of Business Development