📌 Why Foreign Entrepreneurs Should Read This
Thailand remains a top destination for foreign investment thanks to its strategic location, friendly visa policies, and growing industries like tech and wellness . However, the path to opening a business here involves careful planning—from choosing the right company structure to ensuring tax compliance and accounting systems are in place.
Our guide walks you through legal, financial, and practical steps to confidently launch your venture.
📝 1. Choose the Right Company Structure
Private Limited Company (PLC): The most common form, requiring at least 2 shareholders and 1 director. Minimum paid-up capital is generally THB 1 million but smoothing for foreign directors requires THB 2 million
BOI‑Promoted Company: Offers benefits including 100% foreign ownership, tax exemptions, and easier work permits
Representative or Branch Office: Allows testing the market without full registration—ideal for non-revenue-generating activities .
⏳ 2. Reserve Your Company Name
File 3 proposed names with the DBD. Approval typically takes 1–2 days and is valid for 30 days.
Names must be submitted and approved in Thai, even if English names are used externally.
📝 3. Complete Company Registration & Setup
DBD registration: Memorandum, Articles, shareholder list—typically takes 2–3 weeks
Tax registrations:
Corporate Income Tax (within 60 days)
VAT (if revenue > THB 1.8M)
Social Security and other jurisdictions
Open a bank account: Required for capital deposit and daily operations
📈 4. Set Up Accounting & Tax Systems
Accounting: Maintain bookkeeping, Thai- and English-language financials.
Tax compliance:
Monthly VAT filings
Withholding Tax (WHT)
Quarterly and annual Corporate Income Tax (CIT) using form PND.51 & 50 .
Accounting solutions: Outsourced CFO, bookkeeping, and payroll services lighten the administrative load.
🔍 Key Challenges & How to Overcome Them
| Challenge | Solution |
|---|---|
| Language barrier for documentation | Use reliable local partners or translators |
| Foreign-ownership restrictions | Apply for BOI/FBA approval or use majority Thai shareholding |
| Visa & Work Permit delays | Prepare thorough documentation; consider BOI paths |
| Tax compliance complexity | Outsource accounting/tax services to experts |
✅ ACC CONSULTING: Your Trusted Partner in Thailand
At ACC CONSULTING CO., LTD., we assist foreign business owners with:
Choosing the right company structure
Full-service registration with DBD & tax authorities
Monthly accounting, VAT, WHT filings
Payroll, bookkeeping, and financial reporting
📞 Start your Thailand business journey with expert support!
Contact us:
🌐 www.accconsultingservice.com
📧 [email protected]
📱 +66 02-114-7715
