Decide the basics
| Decision | What to know |
|---|---|
| Shareholders | At least two. Foreign shareholding is limited by the Foreign Business Act |
| Capital | No legal minimum for Thai-majority companies, but 2 million THB paid-up per foreign work permit is the usual rule |
| Directors | One or more; foreigners can be directors |
| Office | A real address, with the owner's consent; virtual offices cause problems at work-permit time |
The registration steps
Reserve the company name online with the Department of Business Development.
File the memorandum of association and hold the statutory meeting.
Register the company, with the articles, shareholder list and directors' details.
Get the corporate tax ID, and register for VAT if turnover will exceed 1.8 million THB a year.
Open the company bank account and deposit the capital.
Register with social security and hire your Thai staff.
Every year after
- Monthly withholding tax and VAT returns, and social security payments.
- Audited accounts and an annual shareholder meeting.
- Corporate income tax returns twice a year.
Keep an accountant from the first month. Missed filings make work-permit renewals fail.