Setting up a business in Thailand as a foreigner can be an exciting opportunity, given the country’s strategic location, booming economy, and government incentives. However, the process involves navigating Thai laws, choosing the right business structure, and complying with legal requirements. In this guide, we’ll walk you through the latest 2025 updates on how to register a company in Thailand as a foreigner.
Why Start a Business in Thailand?
Thailand has long been a hub for international businesses and entrepreneurs. Here’s why setting up a business in Thailand is attractive for foreigners:
✅ Strategic Location: Situated in the heart of Southeast Asia, Thailand provides easy access to markets in ASEAN and beyond.
✅ Government Support: The Thailand Board of Investment (BOI) offers incentives such as tax exemptions and simplified work permits for foreign investors.
✅ Growing Economy: With a strong domestic market and increasing foreign trade, Thailand is ideal for businesses in tourism, tech, manufacturing, and services.
✅ Business-Friendly Environment: Recent reforms have made company registration easier, and the Thai government actively encourages foreign direct investment.
Step 1: Choose Your Business Structure
Foreigners looking to set up a business in Thailand must select an appropriate business entity. The most common structures include:
1. Private Limited Company (Thai Limited Company)
The Thai Limited Company (Co., Ltd.) is the most popular and recommended structure. It requires:
- At least three shareholders (can be individuals or companies).
- A minimum of 51% Thai ownership (foreigners can own up to 49%).
- A registered capital of at least 2 million THB to apply for a work permit.
2. Foreign Business License (FBL)
Foreigners who want 100% ownership must apply for an FBL if their business falls under restricted categories in the Foreign Business Act (FBA).
This process can be complex and is subject to government approval.
3. BOI-Promoted Company
For businesses in technology, manufacturing, R&D, or tourism, applying for BOI promotion can provide 100% foreign ownership, tax exemptions, and easier visa processing.
4. Representative Office
If your company is for market research or liaison activities and does not generate revenue in Thailand, a Representative Office can be a good option.
Step 2: Register Your Business in Thailand
1. Reserve a Company Name
Your company name must be unique and follow Thai naming rules. You can reserve it online through the Department of Business Development (DBD).
2. Prepare the Required Documents
- Memorandum of Association (lists company objectives and shareholder details).
- Articles of Association (sets internal company rules).
- List of Shareholders and Directors.
- Statutory Meeting Minutes (for company establishment).
- Company registration forms filed with the DBD.
3. Register Your Company
Submit your documents to the Department of Business Development (DBD) and pay the registration fee.
4. Obtain a Tax Identification Number (TIN)
All businesses must register for a Tax ID with the Revenue Department within 60 days after company registration.
5. Open a Thai Business Bank Account
Most banks require:
- Company registration documents.
- Tax ID certificate.
- Work permit or Thai director.
- Minimum deposit (varies by bank).
Step 3: Obtain the Necessary Permits & Licenses
Depending on your business type, you may need additional licenses:
- Foreign Business License (FBL) (for 100% foreign-owned businesses).
- BOI Certificate (for tax and visa benefits).
- Special industry licenses (e.g., restaurants, real estate, fintech).
Step 4: Work Permits & Visas for Foreign Owners
As a foreign business owner in Thailand, you’ll need a proper visa and work permit to legally work and stay in the country.
1. Non-Immigrant “B” Visa (Business Visa)
To start a business in Thailand, you must first obtain a Non-Immigrant B Visa from a Thai embassy or consulate.
2. Work Permit
Once your company is registered, apply for a work permit with the Department of Employment.
3. Smart Visa (for BOI-Approved Companies)
If your business is in tech, innovation, or startup sectors, you may qualify for a Smart Visa, which offers:
- A 4-year visa with no work permit requirement.
- Family visa privileges for dependents.
BOI Incentives for Foreign Entrepreneurs
The Thailand Board of Investment (BOI) offers various benefits for approved businesses, including:
✔ Up to 13 years of tax exemptions.
✔ 100% foreign ownership.
✔ Easier work permits & visas.
✔ Permission to own land for business use.
Popular BOI-promoted industries include:
- Tech startups
- Renewable energy
- Manufacturing
- E-commerce
If your business fits a BOI-promoted category, applying can save significant costs and administrative hassle.
New Regulations & Tax Updates for 2025
1. Global Minimum Corporate Tax (Effective January 2025)
Starting in 2025, Thailand will implement a 15% global minimum corporate tax for multinational businesses with €750 million+ in annual revenue.
For smaller businesses, the corporate tax remains at 20%, with BOI exemptions available.
2. New Digital Economy Laws
The Thai government is tightening regulations for e-commerce, cryptocurrency, and fintech businesses. Ensure compliance with new data protection and digital banking laws if operating in these sectors.
3. Revised Foreign Business Act (FBA)
Thailand is reviewing FBA restrictions on foreign ownership in service-based industries. By mid-2025, expect eased regulations for foreigners in consulting, education, and tech startups.
Final Thoughts: Should You Start a Business in Thailand in 2025?
Thailand remains one of the best countries in Asia to start a business, thanks to:
🔹 Strong government support for foreign investment.
🔹 A strategic location connecting ASEAN markets.
🔹 Improved business registration processes.
🔹 Attractive tax incentives and work permit options.
However, it’s important to choose the right business structure, stay compliant with Thai laws, and consider BOI promotion for maximum benefits.
If you’re serious about setting up a business in Thailand, consider hiring local business consultants or legal experts to ensure a smooth registration process.
👉 Need help registering your company in Thailand? Let us know in the comments!
