Thailand company incorporation

10 steps to incorporating in Thailand

steps to incorporate Thailand company for foreigners

Pre-incorporation

  1. Prior to starting the incorporation process, our Client i) settles Healy Consultants’ engagement fees ii) signs our Client Engagement letter and iii) provides us at least 75% of the due diligence documents;
  2. Because of the complexity of Thailand incorporation requirements, Healy Consultants drafts a detailed engagement project plan. This plan will map out, week by week, each step to engagement completion, optimizing transparency and setting Client expectations;
  3. Our Client and Healy Consultants agree the optimal corporate structure, including the number and nationality of shareholders and directors. Healy Consultants’ Thailand company incorporation specialists perform a company name check with the Department of Business Development (DBD) and reserves the preferred company name on the Client’s behalf;
  4. Healy Consultants Group PLC prepares a quality detailed business plan to assist with company registration and upon our Client’s approval, we submit the same to the Thai government to confirm if i) the Client’s documents required to be attested and translated in Thai and ii) a business regulatory license is required.
  5. Incorporation procedure

  6. Healy Consultants Group PLC receives company name reservation approval from DBD; and proceeds to order the company seal for our Client’s Thailand LLC. This copper stamp\seal must be placed on company registration forms before the Government issues a certificate of incorporation;
  7. Thereafter, Healy Consultants prepares the M&AA and incorporation forms for Client signature and courier return. Upon receipt of the same, Healy Consultants Group PLC stamps the incorporation forms and timely submits a quality complete incorporation application package to DBD;
  8. For our Clients with United States citizenship, Healy Consultants prepares and files an application with the US Commercial Service requesting eligibility certification letter for Amity Treaty application, as doing so will ease incorporation procedures in many sectors. Furthermore, we obtain a certification letter from US Embassy. Only then can Healy Consultants submit the application for Amity Treaty approval and Foreign Business Certificate with the Ministry of Commerce, Department of Business Development, and Foreign Business Section;
  9. DBD issues a certificate of incorporation. Healy Consultants Group PLC publishes our Client’s Thailand certificate of incorporation in the local Gazette for 7 days;
  10. Post-incorporation

  11. If required, Healy Consultants Group PLC will assist to locate office premises. Only after, can our Client register for VAT and hire staff;
  12. To enable Healy Consultants apply for VAT registration with the Ministry of Finance Revenue Department, our Client provides us i) building owner documentation ii) photos of building entrance and/or office entrance, showing street address or office number, company name sign iii) street location sketch map (Thai language) iv) proof of building ownership v) personal or corporate identity documents of building owner vi) certification letter from building owner, certifying that company is a registered business tenant under lease. Within four weeks The Ministry of Finance Revenue Department approves VAT registration;
  13. Healy Consultants’ banking team will then assist our Client to open a corporate account in Thailand. Our Client will deposit i) at least 25% of company’s share capital for a resident LLC ii) US$93,000 if involved in business activities restricted to foreign investment iii) US$62,000 for foreign LLC involved in other business activities. Upon receiving the bank certificate of deposit, Healy Consultants will assist the Client to activate the internet banking facility;
  14. Healy Consultants will also i) register the company with Social Security ii) apply for a Foreign Business License (if necessary) iii) provide written company rules and regulations in Thai as per the requirements of the Ministry of Labour and iv) apply for a Board of Investment promotion if our Client’s business qualifies;
  15. Following engagement completion, Healy Consultants couriers a company kit folder to our Client’s preferred international address, containing original corporate documents, unopened bank correspondence and a Client feedback survey.

Thailand reporting requirements (post incorporation)

In accordance with Sections 1206 and 1207 of the Thai Civil and Commercial Code, the directors of the company must take careful consideration in maintaining the company’s i) records with accurate minutes of all meetings and ii) accounting books and financial statements in line with the Thai Financial Reporting and Accounting Standards. The reports can be prepared in any language but a Thai translation must also be provided. Refer to the Thailand accounting page for detailed accounting considerations for Thai companies.

Frequently asked questions

Contact us

For additional information on our company incorporation services in Thailand, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
Thailand securities and exchange commission The Thai chamber of commerce and board of trade of Thailand Thailand department of foreign trade - Ministry of Commerce Thailand department of business development - Ministry of Commerce Thailand board of investment