Frequently Asked Questions about Thailand

What are Thailand's corporate tax rates?
Under Thailand business formation law, the corporation tax rate is 30%. However, some types of Thai company are entitled to a rate reduction. Foreign companies pay 30% tax rate for profit sourced from within Thailand.

Does Thailand have a good network of double tax treaties?
The country has signed agreements with almost 54 countries. To see a list of these countries, please follow this link.

What are the reporting requirements for a Thai Company?
All Thai Companies are obliged to submit annual tax returns and audited financial statements.

How private is a Thai Company?
The Thai Civil and Commercial Code states that all companies must keep a shareholders register, although this is not available for public viewing.

What incentives are available for those planning to invest in Thailand?
Thailand's Board of Investment offers both tax related and non-tax related incentives. Tax incentives include exemption or reduction of import duties on machinery and raw materials and corporate income tax relief and exemptions. Non-tax incentives include no foreign equity restrictions in the manufacturing sector; no local content requirements; permission to own land; and ability to repatriate foreign currency from Thailand.

What are the minimum capital requirements to set up a Thai Company?
There are no minimum capital requirements. However a foreign company is required to pay capital that is seen as adequate for the type of company.

How many shareholders are required to form a Thai Company?
A Thai private limited company must have at least three shareholders, none of whom can be corporations.

What are the implications of the recent coup in Thailand in terms of setting up a business in the country?
Thailand's military government has proposed changes to the country's Foreign Business Act to restrict foreign ownership of Thai Companies.

For additional information on any of our Thailand corporate services, please email email@healyconsultants.com or telephone us at (+65) 6735 0120.

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