Decide the basics
| Decision | What to know |
|---|---|
| Shareholders | At least two. Foreign shareholding is limited by the Foreign Business Act |
| Capital | No legal minimum for Thai-majority companies, but 2 million THB paid-up per foreign work permit is the usual rule |
| Directors | One or more; foreigners can be directors |
| Office | A real address, with the owner's consent; virtual offices cause problems at work-permit time |
The registration steps
- Reserve the company name online with the Department of Business Development.
- File the memorandum of association and hold the statutory meeting.
- Register the company, with the articles, shareholder list and directors' details.
- Get the corporate tax ID, and register for VAT if turnover will exceed 1.8 million THB a year.
- Open the company bank account and deposit the capital.
- Register with social security and hire your Thai staff.
Every year after
- Monthly withholding tax and VAT returns, and social security payments.
- Audited accounts and an annual shareholder meeting.
- Corporate income tax returns twice a year.
Keep an accountant from the first month. Missed filings make work-permit renewals fail.