The majority of shares in a Thai company must be owned by a Thai citizen unless it is part of a special Board of Investment (BOI) program. This means that foreigners can only own up to 49% of a Thai company. … The most popular form of company is a private limited company.
How can a foreigner set up a company in Thailand?
The Step-by-Step Guide to Starting a Business in Thailand
- Pick a Type of Business. …
- Check Out Thailand’s Foreign Business Act. …
- Learn About Incentives and Benefits Provided by the BOI. …
- Apply for Visa and Work Permits. …
- Register Your Company. …
- Sort Out Your Paid-Up Capital and Open a Bank Account.
Can foreigners own businesses in Thailand?
Remember, foreigners are not allowed to own 100% shares of any business in Thailand, unless you are a US citizen which you can read more about below. The most popular way to start a business in Thailand is to register a business under a Thai person.
How much does it cost to register a company in Thailand?
However, the government fee to register a company in Thailand is the same for Baht 15 capital or Baht 1M capital. Thus the government fee to set up a Thai company is about 7,000 for Baht 1 M registered capital.
How do I register a company in Thailand?
Steps on How to Register a Thai Company
- Step 1: Registering the Company Name. …
- Step 2: Filing the Memorandum of Association. …
- Step 3: The Statutory Meeting. …
- Step 4: Register the Company in Thailand. …
- Step 5: Registering for Value-Added Tax (VAT) and Income Tax.
How long does it take to register a company in Thailand?
The duration for registration depends on the nature of your business and your promptness in providing the requested information. A company can be set up in 1 – 2 weeks but the application of foreign business license can take up to 3 – 4 months.
What is the Foreign Business Act Thailand?
Under the Foreign Business Act ( FBA ) foreigners are prohibited from engaging in most business categories in Thailand, unless an alien business operation permit has been obtained from the Director-General of the Department of Commercial Registration with the approval of the Foreign Business Committee.
How do I get an international business license in Thailand?
Obtaining Foreign Business License
- An investor has to apply for permission to conducting foreign business. …
- If a company has minimum capital (paid-up capital) of 100 million baht for each of business, …
- Thai company has to submit a principle approval letter to the committee of foreign business.
Can foreigners buy commercial property in Thailand?
Can foreigners buy commercial property in Thailand? Foreign individuals can generally not own commercial property in Thailand. Instead, it’s far more common to buy condo units as the buying process is straightforward and you can even own the units on a freehold basis.
Can a foreigner own a bar in Thailand?
In order to open a bar in Thailand, foreign citizens need to have a Thai partner who must own 51% of the business. On the other hand, opening a bar in Thailand means respecting the rules and the regulations as for opening any kind of business in the country.
Can I start a business in Thailand?
If you want to start a business in Thailand, you can set up your business in a number of ways. If you have an international business, you may wish to set up a Thai branch office, Thai representative office or Thai regional office to take advantage of local business opportunities and possible tax advantages.
What is a good salary in Thailand?
Thailand has a salary range of 24,500 THB (734 USD) to 433,000 THB (12984 USD) in a month. And its average monthly salary is 96,900 THB (2904 USD). The country has a median salary of 103,000 THB per month, implying that 50% of the Thai population earns more than 103,000 THB, while the other 50% earns below 103,000 THB.
Is Thailand a good place to start a business?
The Wharton School of the University of Pennsylvania has ranked Thailand the best place in the world to start a business for the third year in a row in the 2019 version of the annual Best Countries Report co-published this week with U.S. News and World Report and BAV Group consultancy.