Use of capital
Provide genuine capital for the Thai business and retain the applicable contribution, remittance and accounting evidence. Comply with the minimum-capital and any capital-maintenance conditions applying to the business.
Market entry
Market Entry Requirements
Start with Thailand’s Foreign Business Act (FBA): it decides whether a foreign-owned company may carry on your activity, and on what terms.
The FBA sorts restricted activities into three lists.
Use the Foreign Business Act’s activity lists and statutory exceptions to review the proposed activity.
Entity types
Choosing Your Thailand Business Entity
When deciding the type of business entity to form in Thailand, there are some important factors for foreign investors to consider.
Common business structures include a private limited company, a representative office and a branch office. BOI promotion is an investment-promotion status, not a separate company form.
Documents
Documents by Entity Type
The documents depend on the entity type.
- Private limited company: reserve the company name and submit the prescribed memorandum and incorporation forms, shareholder and director details, identity documents, office details and applicable capital evidence. Signature certification and foreign-document authentication depend on the filing route and document. Provide the additional investment explanations and three-month bank statements required under Order 2/2569 where applicable.
- BOI promotion: submit the applicable application form, project details and supporting product, process, machinery and applicant documents. A feasibility study is required for projects exceeding THB 2 billion, excluding land and working capital. Environmental forms or an EIA are required where the activity and environmental rules call for them; corporate documents depend on the applicant and application stage.
- Representative office: provide the parent’s registration and authority documents, appointment of the person responsible in Thailand, that person’s identity documents, and a filing power of attorney if an agent is used. State the office address and permitted non-revenue activities, and supply authentication and premises or funding evidence where the relevant procedure requires them.
- Branch office: provide the parent’s registration and authority documents, appointment or authorisation of the Thailand representative, identity and office details, and applicable capital evidence. Obtain an FBL or foreign business certificate only where required for the proposed activity. A branch does not have a separate company memorandum of association.
In certain cases, you may be required to provide additional materials. Capital and filing requirements are confirmed for each case.
How it works
Post-registration compliance essentials.
Quick answer: after incorporation, seven areas of ongoing compliance apply. Select an area for detail.
Stage 1 of 7
Financial statement audit
A Thai limited company submits its financial statements to the shareholders’ meeting within four months after the accounting year-end and files the approved audited statements with DBD within one month after approval.
- BOI-promoted projects in operation also file an annual performance report through e-Monitoring each July.
Stage 2 of 7
Corporate tax filing
Thai and foreign companies carrying on business in Thailand file the annual corporate income tax return (Form CIT50) within 150 days after the accounting period closes.
- Even companies operating at a loss must submit a tax filing.
Stage 3 of 7
VAT registration and filing
A business regularly supplying goods or services in Thailand with annual turnover above THB1.8 million is subject to VAT, subject to exclusions.
- VAT returns are filed monthly.
Stage 4 of 7
Withholding tax
Companies must deduct withholding tax at the time of payment and submit returns.
- Salaries.
- Service fees.
- Certain payments to non-residents, depending on the income type, the recipient’s tax status and any applicable tax treaty.
Stage 5 of 7
Foreign exchange reporting
Provide the transaction details and purpose to the authorised bank. Supporting documents are generally required for foreign-exchange transactions of USD 200,000 or more (or equivalent), subject to permitted KYB procedures and transaction-specific rules; this is not a general requirement for the customer to submit an FET form directly to the Bank of Thailand.
- State the purpose of funds.
Stage 6 of 7
Annual DBD filings
A Thai limited company files its approved audited financial statements with DBD within one month after shareholder approval.
- Register director changes with the DBD within 14 days. Keep the shareholder register current and submit the BOJ.5 shareholder list at least annually, within 14 days after the ordinary general meeting.
Stage 7 of 7
BOI compliance reporting
After receiving a promotion certificate and before permission to operate, the project normally reports within 30 days after each quarter ending in March, June, September and December. BOI separately set 30 May 2026 for the first quarter of 2026.
- Once approved to operate, they file an annual performance report each July through e-Monitoring instead.
Confirm the current deadlines and rates for your company with an official Thai source.
Capital rules
Capital Rule for Foreign Entities
Foreign entities must observe additional rules on capital.
Reduction of capital
Work permits
For the ordinary capital-based work-permit route, a Thai-registered corporate employer generally needs THB 2 million of paid-up capital per foreign worker, while an overseas-registered employer generally needs THB 3 million of capital remitted to Thailand per foreign worker, subject to exceptions and limits. BOI-promoted employers follow the applicable BOI position and personnel approval rules.
Why Hongda
Why Choose Hongda for Thailand Company Registration?
Review the activity and structure first, then coordinate registration, with one service team.
Since 2007
Serving foreign companies in China since 2007, with client relationships that go back to 2008.
One team, end to end
Company setup, banking, tax, payroll and work permits coordinated by one team.
In English, on the ground
English-language project management with a China-based team in seven locations.
Clear scope and limits
We confirm the scope before work begins and say which decisions rest with authorities or banks.
Trusted by companies including
Client voices
Clients who have stayed with us for years.
Travis Perkins
David Finch BA ACMA CMIIA CAMA
Director of Group Business Risk & Assurance, Travis Perkins PLC
With Hongda since 2008
Travis Perkins PLC (a leading builders merchant in the UK) has been using Hongda Business Services since 2008 for accounting and professional services. Throughout this time, we have found the team at Hongda to be very helpful and professional in their dealings with us. We look forward to working with the company in the future.
Sound United
Jack Peng
Vice President, Asia Pacific, Sound United
With Hongda since 2013
Sound United (a leading designer and manufacturer of consumer audio products in the US) has been using Hongda Business Services since 2013. Moving one’s operations to China is not a small task, but Hongda’s expert services helped us set up a company and deal with tax issues so we could get on with growing our business in no time at all, and that’s why we continue to use them today.
Tulip Pacific Ltd.
Erik de Waard
Director, Tulip Pacific Ltd.
With Hongda since 2012
Tulip Pacific Ltd. (Business planning and interim financial management services) has been using Hongda Business Services since 2012. Hongda has helped us set up legal entities in China/HK and takes care of our annual company audits. They are the most efficient business service provider I have worked with to-date, and their professional advice has helped me better advise my own clients and provide greater value to my overall business.
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Your team
The people you will work with.
Meet the three chief consultants at Hongda, including founder Angel Ho and co-founder Bobby Lee.
Angel Ho
Chief Consultant, CEO
Founder of Hongda in 2007. Holds Chinese Tax Agent, IPA (Australia) and IFA (UK) certificates. Provides one-stop services covering market access, company establishment, financial settlement, financial and tax consultation, and human resources management.
Bobby Lee
Chief Consultant
Co-founder of Hongda. Many years of corporate legal consultancy and involvement in managing client enterprises. Familiar with tax, personnel and project management work across Guangdong, Hong Kong and Macau. Excellent English communication skills.
Strong Song
Chief Consultant
24 years in enterprise management, business development, and financial and tax compliance. Has provided financial and tax advisory services for hundreds of companies. In-depth learning and practical experience in IFRS (International Financial Reporting Standards), Generally Accepted Auditing Standards and International Taxation.
What key taxes should foreign investors be aware of?
Thai and foreign companies carrying on business in Thailand file Form CIT50 within 150 days after the accounting period closes. Regular suppliers with annual turnover above THB1.8 million are subject to VAT, subject to exclusions; VAT returns are monthly.
How does registered capital affect work permit eligibility?
For the ordinary capital-based work-permit route, a Thai-registered corporate employer generally needs THB 2 million of paid-up capital per foreign worker, while an overseas-registered employer generally needs THB 3 million of capital remitted to Thailand per foreign worker, subject to exceptions and limits. BOI-promoted employers follow the applicable BOI position and personnel approval rules.
Do all companies need an audit and a tax filing?
A Thai limited company submits its statements to the shareholders’ meeting within four months after year-end and files approved audited statements with DBD within one month after approval. For the proposed tax filing, obtain confirmation of the company’s specific obligations.
Is a Foreign Business License needed?
Apply the Foreign Business Act’s activity lists and exceptions to the proposed branch activity. List Two and List Three have different permission routes; qualifying BOI-promoted activities use the section 12 certificate route.
Contact our team
Still Have a Question? Get in Touch Today!
Share your plans, structure and timing. We confirm the scope with you before any work starts.