Starting a company in Thailand

Setting up a company in Thailand is a relatively quick and simple process. In this article you will find all the necessary information...

The most common type of company is a *Private Limited* company, which is similar to a Czech limited liability company. Foreign individuals and companies can in most cases own a maximum of 49% of the company. The exception is companies established through the *BOI* (Board of Investment), which can be fully owned by a foreign entity.

However, for regular companies with a maximum of 49% foreign ownership, there is a possibility of having the company completely under control. When establishing a company, one of the shareholders can be granted higher voting rights, and this shareholder can hold the position of executive director (*Managing Director*) with exclusive signing rights. Thanks to this, a foreign investor can have full control over the company, even if he does not own a majority share.

The process of establishing a company usually takes 3-4 business days.
*BOI companies* represent a specific category of companies, supported by the Thai government in the form of investment incentives. The aim is to attract projects in the field of research and development (R&D), IT or large investments that create jobs for Thai employees. BOI companies can be 100% owned by a foreign investor and at the same time receive various benefits such as tax breaks, work permits for foreign employees, duty-free import and export of products, etc.

If your company operates in technology, research or IT, Thailand offers interesting opportunities through investment in BOI companies. We cooperate with a Thai agency and law firm that provide a complete service for setting up a turnkey company, including the possibility of immediately purchasing a ready-made "dormant" company. If you are interested in this topic, do not hesitate to contact us. We will be happy to advise you.

What is needed to establish a company in Thailand:

Completed and signed original registration form – we will provide
If you are not in Thailand at the time of signing, the signature must be verified at the Thai Embassy in Prague
Copy of valid passport
Two other partners, at least one of whom is Thai
If you do not have them, we are able to find partners in Thailand for you.
Company address – either own rented premises, or we can arrange a virtual company address for you (If the company registers employees, it must have a real establishment for social insurance)
We are able to find you adequate premises and arrange a virtual virtual address for a reasonable annual fee.
Company registered stamp – we will provide
Company name registration – we will provide
Share capital, at least 15THB per partner (for a work permit, at least 2 million THB per work permit for foreigners is required. )
Payment of an administrative fee of 6500THB for each million THB of capital.
Accounting services – we will arrange for you an English-speaking, accredited accountant / auditor
In case your company will import / export goods to Thailand, we will arrange for you an export / import license.
If your company plans to import goods subject to registration into Thailand, such as food, drugs, cosmetics.. we will arrange for the relevant permits and licenses for import and sale with the Thai FDA.
Every company must have an accountant and submit an annual audit.
Import / export of regulated products requires a special permit.

Example of the price for starting a company:

Company registration, legal and notary services, issuing all documents and papers, tax registration, etc. - 35,000 THB
Administrative fee - stamp duty 6,500 THB
Company stamp registration 500 THB
Company account establishment - 5,000 THB
Two witnesses - signature and participation in the company establishment 1,000 THB