Setting up a Company in Thailand: A Detailed Guide (2025)

For businesses looking to expand into Southeast Asian countries, import goods, or establish a legal entity overseas to increase brand awareness, Thailand is a viable option.

In the following article, GLA will provide detailed information on the procedures for establishing a company in Thailand and the requirements to comply with when investing in this market.

1. Information you need to know when setting up a company in Thailand

Company registration in Thailand requires the Enterprise to meet the following basic requirements:

1.1. Company name

The company name must be non-duplicated, non-copyrighted and appropriate. The name can be in English and must end with the type of company chosen.

• The company name must not be identical or similar to any previously registered company in Thailand.
• Contains sensitive words that are not appropriate under Thai law (e.g. “investment”, "tax").
• Thai company names will have an ending that corresponds to the type of company, for example: "Limited" for a limited liability company.

It is permitted to have the same name for the owning business companies provided that the company name is accompanied by another distinctive word (For example: ABC Trading Ltd, ABC Holdings, etc.)  

To save time, GLA recommends that businesses choose 3 company names in advance and arrange them in order of priority.

After checking the validity of the company name and registering to keep the name online, if the business does not register the company within 30 days, the company name will no longer be valid and will not be allowed to be renewed. 

1.2. Shareholders

The company must have at least one Thai shareholder. Foreign shareholders can own 1% of the company in a few permitted industries, while other industries have stricter participation requirements.

For domestic limited liability companies, foreigners can only own a maximum of 49% of shares.

Normally, the investor will use GLA's designated promotion service to meet the requirement of 51% of shares held by ThaisGLA commits to providing quality and confidential services. Shareholders only have nominal obligations on paper, and shares still belong to foreign investors.

1.3. Director

The company must have at least 1 director from any country. Thai companies do not limit the number of directors, but directors must be 18 years of age or older, have never been bankrupt or convicted of a crime.

1.4. Registered address in Thailand

The company address is used to register with the Thai authorities. GLA will assist businesses in finding offices in Thailand at reasonable costs or provide virtual office address services, in accordance with the law, meeting basic operational needs such as receiving mail.

1. Memorandum of Association (MOA).
2. The company charter is a written agreement between shareholders.
3. Company name.
4. Office address.
5. Business goals.
6. Shareholder responsibility.
7. Charter capital.
8. Shareholder information (name, address, occupation and signature).
9. Number of shares of each shareholder.

This charter will be filed with the Department of Business Development (DBD) of Thailand. A copy of the company charter must be signed by the shareholder and authenticated by 2 other authenticaters.

2. Procedures and processes for establishing a company in Thailand are quick and effective.

3. Requirements to comply with when opening a company in Thailand that you need to know

After establishing a company in Thailand, businesses need to comply with the following legal regulations and obligations to maintain legal operations.

3.1. Tax declaration and accounting

• The company must maintain complete and correct accounting books.
• Every year, the company is required to submit audited financial statements to the Department of Business Development (DBD) and tax reports to the Thai Revenue Department.
• Monthly tax reports include value added tax (VAT) and income tax.

3.2. Annual report

• The company must submit an annual report (Annual General Meeting - AGM) and annual financial report to the competent authority.
• Reports must be completed and submitted on time to avoid administrative penalties.

3.3. Work permits and visas for foreigners

• If the company has foreign employees, the company must assist them in obtaining valid work permits and work visas.
• Work permits need to be renewed annually to ensure foreigners can continue to work in Thailand.
• In addition, if the company participates in Thailand's FBA sectors, the company will have to ensure the appropriate ratio between Thai and foreign workers according to Thai law.

Company address and nominal shareholders

• The company must maintain a permanent registered address in Thailand for communication and transactions with the authorities. If there is a change of address, the company must immediately notify the Business Development Department.
• For companies that wish to have 100% of the shares in the sectors confiscated by the Thai government, the company can consider and recruit 1 nominal shareholder to open the company. This shareholder will have no authority in the company except to meet the requirements for opening the company.

4. How does GLA support businesses to open companies in Thailand?

As a unit with many years of experience in consulting and supporting businesses to successfully register to establish companies in Thailand, GLA supports

• Consulting and support for establishing Thai companies.
• Advise on choosing the right Emirate
• Recommend the right company type based on your business model.
• Prepare necessary documents for Thai Enterprises.
• Tax consulting suitable for the type of business activities of enterprises in Thailand.
• Support for registration of all types of business licenses in Thailand.
• Support opening physical bank accounts, online banking in Thailand, etc.
• Prepare financial statements and tax reports in accordance with Thai accounting standards.

5. Frequently asked questions about setting up a company in Thailand 

Highlights

• A company in Thailand must have at least one Thai shareholder; foreigners can own up to 49% in a domestic limited liability company in the required business sectors.
• The limited liability company is the most popular type of company when opening a company in Thailand.
• Enterprises need to maintain accounting books in accordance with regulations, declare taxes monthly and submit annual financial reports to the authorities.
• For more details on points to note when opening a company in Thailand, please refer to the following article: Notes when establishing a company in Thailand for foreigners.