How to Open a Private Limited Company in Thailand?

A Private Limited Company (Co., Ltd.) is the most popular type of business entity in Thailand for both locals and foreigners. It offers limited liability to shareholders and flexibility in management. Here’s a step-by-step guide to opening a Private Limited Company in Thailand:

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Step 1: Reserve a Company Name

• Choose a unique company name (up to 3 options in order of preference).
• Submit the name reservation through the Department of Business Development (DBD) online system.
• The name must not be identical or similar to existing companies and must comply with Thai law.

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Step 2: Prepare and File the Memorandum of Association (MOA)

The MOA includes:

• Company name and registered address.
• Business objectives.
• Capital and number of shares.
• Names and details of shareholders (at least 3 shareholders).
• Names of directors and authorized signatories.

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Step 3: Hold a Statutory Meeting

• Approve company regulations and appoint directors and an auditor.
• Allocate and issue shares to shareholders.
• Determine the amount of capital paid-up (a minimum portion of the registered capital must be paid).

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Step 4: Register the Company

• File the application for company registration with the DBD.
• Pay government fees based on the amount of registered capital.
• Receive the company registration certificate and company number.

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Step 5: Register for Tax ID and VAT (if applicable)

• Apply for a Tax Identification Number (Tax ID) from the Revenue Department.
• If the company expects annual revenue over THB 1.8 million, register for VAT.

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Step 6: Open a Corporate Bank Account

• Use the company registration documents and tax ID to open a business bank account.
• Some banks may require directors and shareholders to be present.

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Step 7: Apply for Work Permits and Visa (for foreign directors and employees)

• If foreign directors or staff are involved, apply for a Non-B Visa and Work Permit.
• Note: Hiring foreigners requires meeting certain capital and Thai employee ratio requirements.

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✅ Key Points to Consider

• Minimum 3 shareholders are required to form a company.
• Foreigners can own up to 49% of shares under general rules. 100% foreign ownership may be allowed under BOI promotion or if a Foreign Business License (FBL) is obtained.
• Registered capital requirements may vary depending on business type and whether foreigners will need work permits.

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💡 How BRW Can Help

At BRW – Boonrawee Co., Ltd., we offer comprehensive support for company setup in Thailand, including:

• Name reservation and company registration.
• Tax ID and VAT registration.
• Accounting and legal advisory.
• Work permits and visa services.
• Government liaison for licenses and permits.

📞 Contact us today to start your business in Thailand smoothly and professionally!