Minimum information to open your business in Thailand

Bring all the documents you think are necessary to open your company but the ones that you cannot forget for any reason are the following:

Make a translation with certified copies into English or directly into Thai in your country and apostille documents at the Thai embassy in your country. If you can bring bank references with the account statement it may be useful.

Be sure to ask your bank for your Swift Code, which you will see how important it is when you have to start making transfers between Bangkok and your country of origin.

When you come to Thailand ask for a tourist visa, practically any other will be denied. Once in Thailand, you should start your business registration process as soon as possible.

The first risky part comes. Find partners, how many, and why Your company, in general, may have less than seven or seven or more partners. In case you would like to be a sole member, you will have to contact a law firm (preferably internationally renowned) to assist you because, by the letter of the law, this is not really feasible.

If you want to find a law firm to help you with these procedures, I recommend that you look in the Bangkok Post newspaper.

Bring the name of your company in mind, have 3 options present so as not to waste time waiting for the muses to baptize your business.

The documents you need to register your company are:

  • Document with the name of your business already authorized by the relevant authority.
  • The document that certifies the place where your company’s offices will reside.
  • The seal with the name of the company.
  • The document that specifies the purpose of the company.
  • Document that lists the partners and the distribution of percentages
  • Two reports: one that confirms the will of the parties and minutes of the partners’ meeting.
The documents you need to register your company
The documents you need to register your company

All documents that depend on Some Thais should have a copy of identification attached as well as a copy of the “address book” that is unique to each family in Thailand. Everything must be signed.

A copy of the identification of the lawyer who processes everything must be presented.

Number of partners:

If you have less than 7 associates in the company (you included) you fall within one group, if you have seven or more within another with less than seven.

You have two options, be a company or be a limited company
If you are a company you have unlimited responsibilities (very dangerous)
Now, if you are a limited company one of the associates will have unlimited liability (usually you) for what I think is not necessary to delve into the obviousness of having 7 names included in the society.

You are a limited liability company. (You have left the high-risk zone)

Considering yourselves:

It is necessary to nominally present one million baht, although at the end of the accounting year you should only present 25% of that million REALLY invested in the company.

Two witnesses are necessary to accompany the documentation. (With your signed identification copies). A lawyer to sign and appoint an auditor who will probably carry out the balance of the first year of work in the future.

The cost of capital registration is 5000 Baht for every million Baht registered.

The company activation procedure is around 25,000 Baht.

The process will take you at least 30 days once all the documentation is delivered (if you are lucky).

Once you have your business registration it is necessary to register as a taxpayer, the procedure takes only one day.

import and export train
import and export train

If you want to get on the import and export train, you must request a special permit and enlist in the registry of importers-exporters. The price is not high and the procedure is not long. If you want more information about these details writes to me.

Is it tedious and somewhat complicated? yes. That is why it is recommended that you have in your possession all the necessary documents, a large number of copies of your passport all signed and with the date of the day with which they are requested.

It is important to mention that having a company in Thailand does not give you the right to work here (I said it is a place full of contradictions, right?). So before you go to work in your brand new office, keep in mind that if you work, EVEN WITHOUT RECEIVING ANY SALARY, you are carrying out illegal activity and could be cause for deportation!

If you think that it is necessary to have more than one foreign person working for your company, you should consider that in order to grant work permits you have to increase the capital of your company by 2 million, and those do have to be presented at the end of the annual balance sheet!

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