Doing business in Thailand
Foreigners doing business in Thailand.
One Stop Services for foreigners
For foreigners to open a company in Thailand It is essential to know the rules and regulations regarding setting up a company in Thailand.
For foreigners who want to open a company in Thailand Can hold no more than 49% of the shares, but if a foreigner wants to be a director authorized to sign on behalf of the company in signing various documents Must present a deposit account It is an amount equal to the amount of registered investment paid. But if you don't want to be an authorized director You don't need to show any deposit account. That's all, opening a company in Thailand is not difficult. but a clear agreement should be made between the partners regarding such registered capital.
The Thai government has divided the types of businesses that foreigners are strictly prohibited from doing in Thailand into 3 types as follows:
Businesses that are forbidden for foreigners to operate for special reasons
Business related to the safety or security of the country or affecting arts and culture, customs and local handicrafts or natural resources and the environment
Businesses that Thai people are not ready to compete with foreigners
To set up a business in Thailand This can be done without the need for nominee shareholders. while still being able to participate in direct control of the business.
And businesses that must apply for a foreign business license in Thailand are 6 types as follows:
foreign representative office Being a foreign juristic person registered without holding shares in a foreign parent company and without a foreign business license The representative office cannot do any coordination and cannot earn income from the provision of services. But will only be funded by the head office abroad.
Open a branch in Thailand Branch offices in Thailand work the same way as a limited company with no shareholders or directors. as it is not a registered company But it's a local branch of a foreign head office. Different from foreign representative offices and regional offices Can earn income from business operations or receive financial support from the head office.
Newly established company with majority of foreign shareholders A company registered in Thailand with a person of a nationality other than Thai nationality. Holding no more than 49% of shares (Thai company able to operate everything according to the law) and companies with nationalities other than Thai nationality holding 100% or more than 50% of the shares (foreign companies must apply for a foreign business license)
Company from USA A company registered in Thailand or the United States with US nationality as the major shareholder and director of the company may apply for a business license from
Company promoted by investment (BOI) A company registered in Thailand that receives investment promotion from the Board of Investment of Thailand Looking at the nature of the business, the company may be licensed as an office that is promoted by the Office of the Board of Investment to own a business in Thailand 100%.
Limited company and partnership A foreign limited company or partnership doing business in Thailand can operate certain businesses. Upon obtaining a business license either directly or through investment promotion which through the Board of Investment of Thailand
Note: If the foreign business permit is not passed or rejected The Ministry of Commerce will notify you within 15 working days, clearly stating the reason for the rejection of the license application. And in another case, if denied, can appeal the decision. An appeal must be filed within 30 days of receiving the refusal notice. The Minister of Commerce will process the appeal within 30 days of receipt. His judgment is final.