China and Thailand share a time-honored tradition of friendly exchanges spanning thousands of years. Under the framework of the Belt and Road Initiative, the two countries have expanded cooperation in diverse fields such as economy and trade, science and technology, education, and culture, ushering China-Thailand relations into a new era. Blessed with a superior geographical location at the heart of Southeast Asia, Thailand boasts convenient transportation networks, facilitating trade with neighboring countries. Its abundant natural resources and cost-effective labor force also help enterprises reduce production costs.
I. Requirements for Company Registration in Thailand
ShareholdersThe company shall have at least 2 natural person promoters, with each promoter holding at least one share.
DirectorsAt least one director is required.
Business ScopeThere are no restrictive requirements for business scope in general. However, for joint-venture companies engaged in restricted industries, Thai nationals must hold a majority stake of 51%.
Registered AddressA local commercial registered address in Thailand is mandatory.
Registered CapitalAccording to Thailand's Company Registration Act, a minimum registered capital of 1 million Thai Baht is required for company setup, with the foreign direct investment (FDI) quota not less than 2 million Thai Baht. Ultimately, the registered capital amount shall be determined based on the company’s actual business operations. 25% of the registered capital must be deposited into the company’s bank account within 15 days of its establishment, and the remaining 75% shall be fully paid within 3 years after registration.(1) Joint-venture Companies (Restricted Industries)Thai government regulations stipulate that for every 2 million Thai Baht of registered capital and social security contributions provided for 4 Thai employees, one work permit can be applied for a foreign national (this regulation does not apply to Board of Investment (BOI)-promoted companies).(2) Wholly Foreign-Owned Companies (Industries Encouraging Foreign Investment)To officially commence operations, such companies must obtain both the BOI Investment Promotion Certificate and the Foreign Business Certificate (FBC) issued by Thailand’s Department of Business Development (DBD). The registered capital amount shall be finalized in accordance with the investment plan approved by the BOI.
II. Required Documents for Company Registration in Thailand
Company Name ConfirmationYou must provide both the Thai and English names of the company.
Company Address SubmissionSubmit the company’s registered address. Virtual addresses are acceptable, as Thailand offers a wide range of virtual address services.
Registered Capital DeclarationThailand has no explicit minimum registered capital requirement. However, it should be noted that if the company intends to apply for work permits for foreign directors or other foreign employees after establishment, the Ministry of Labor mandates that the paid-in registered capital shall not be less than 2 million Thai Baht (approximately RMB 400,000) per work permit.
Shareholders’ Identification DocumentsCopies of Thai ID cards or passports of shareholders are required. In Thailand, a minimum of 2 shareholders is needed to form a company. For Thai limited liability companies, it is mandatory that at least one Thai shareholder holds a 51% stake.
Directors’ Identification DocumentsCopies of Thai ID cards or passports of directors are required. An authorized director must be appointed to sign documents on behalf of the company. The director can be either a Thai national or a foreign national. Nevertheless, if the company needs to register for Value-Added Tax (VAT), social security, apply for work permits, or obtain any licenses, it must have a Thai director on board. Foreign directors are not eligible to sign documents on behalf of the company when applying for the above-mentioned registrations or licenses before obtaining their work permits. Therefore, a Thai director must be engaged to handle such document-signing procedures during this period.
Bank Reference Letter from Thai ShareholdersIf the company is established by foreign shareholders or directors, the Thai shareholder(s) must provide a bank reference letter, with the stated amount covering the value of the shares they hold.
