Prior to incorporating in Thailand, every Thai company must have at least seven shareholders, none of whom can be corporations.

There are no minimum capital requirements to set up a company in Thailand.

When incorporating in Thailand, the company's Memorandum of Association must be filed with the Thai Business Development Office. The Memorandum includes details of the company name, the province where it will be located, its business objectives, the capital to be registered, and the names of the seven shareholders.

Prior to incorporating in Thailand, a statutory meeting must be convened during which the articles of incorporation and bylaws are approved, the Board of Directors is elected and an auditor appointed. A minimum of 25% of the par value of each subscribed share must also be paid.

Investors are required to keep a register of shareholders at the company premises having set up a company.

Entrepreneurs investing in Thailand and who have set up a company in Thailand are liable to a corporate tax of 30% on income sourced in Thailand and internationally.

Those incorporating in Thailand can obtain tax relief via the double taxation agreements which Thailand has signed with almost 50 countries around the world. A list of the countries can be found at The Revenue Department website.

Having set up a company in Thailand, annual tax returns and audited financial statements must be submitted to the Thai Department of Revenue and Commercial Registration.

Thailand's Board of Investment (BoI) provides a range of incentives to investors who set up a Company in Thailand.

The intellectual property (patents, trademarks and copyrights) of investors incorporating in Thailand is protected by law.

Clients investing in Thailand should be aware of potential changes to the country's Foreign Business Act, as proposed in 2006 by the country's military government. These changes sought to limit foreign ownership of Thai companies. However, conversely clients wishing to set up a company in Thailand should note that the limits of foreign shareholding have been relaxed in certain sectors such as manufacturing.

Clients who set up a company in Thailand potentially gain access to a regional market of 500 million people, since Thailand is a member of the Association of Southeast Asian Nations (ASEAN).

Thailand's abundant natural resources, including oil and gas, and its cost-effective labour force are attractive to foreign entrepreneurs investing in Thailand.

Clients incorporating in Thailand should note a 2006 World Bank report said that Thailand was the fourth easiest country in Asia in which to do business, and the 20th easiest in the world.

Clients incorporating in Thailand should note that a 2005 survey conducted by the UN Commission for Trade and Development (UNCTAD) ranked Thailand the third most attractive foreign direct investment (FDI) location in Asia and the ninth most attractive location in the world for the next four years.

Clients wishing to set up a company in Thailand should note that Thailand encourages foreign investment, especially in sectors which contribute to the development of skills, technology and innovation.

Clients incorporating in Thailand should note that other incentives/assistance provided by the Board of Investment (BoI) to support those investing in Thailand include helping foreign staff of Thai-incorporated companies to obtain work visas and long-term visit visas in three hours or less.

Prior to investing in Thailand, Healy Consultants can arrange a tailored orientation programme in Thailand. Our orientation programmes typically include familiarisation tours of key points of business interest in the country, industrial parks, as well as government ministries and other useful services.

Setting up the correct corporate structure is key to successfully investing in Thailand. Healy Consultants can advise on and engineer a structure to meet your exact needs. Kindly visit Thailand company formation for further information on incorporating in Thailand.

Opening a corporate bank account is crucial to support the activities of entrepreneurs who set up a company in Thailand. Healy Consultants can assist in opening a corporate bank account either in Thailand or in another jurisdiction, according to your needs. Kindly view Thailand corporate bank account for further information on international corporate bank accounts.

One of the keys to successfully investing in Thailand is developing a reliable network of business contacts and service suppliers. Healy Consultants has, over the years, established an impressive client base in Thailand and the region, across a wide range of industries. Subject to their mutual agreement, we are able to provide introductions to key businesspeople in Thailand who can assist you after incorporating in Thailand.

For entrepreneurs who, having set up a company in Thailand, plan to move to the country to oversee their investments, Healy Consultants can help provide a comprehensive relocation service. Working with a leading relocation agent in Thailand, we can assist with all aspects of the move. Services include obtaining Thai employment and residence visas for the investor and his/her family; obtaining Thai Employment and residence visas for staff; introductions to real estate agents in Thailand; introductions to banks in Thailand or the region for mortgages, personal bank accounts etc; and assistance with locating a suitable school in Thailand for the family.

Having set up a company in Thailand, entrepreneurs investing in Thailand can avail of certain tax and non-tax incentives. Provided by the country's Board of Investment (BoI), these incentives include i) exemption or reduction of import duties on machinery and raw materials; ii) corporate income tax relief and exemptions; iii) permission to employ expatriate workers; iv) no local content requirements for manufacturing industries and v) unrestricted repatriation of foreign currency out of Thailand. For more information on the incentives available for entrepreneurs investing in Thailand, kindly visit Thailand company incorporation.

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