Can a foreigner own 100% of a Thai company?

Yes, in most industries. A Thai Limited Company can be 100% foreign-owned unless the business falls under the Foreign Business Act's restricted categories (List 1-3). Restricted sectors include agriculture, land trading, accounting, legal services, architecture, engineering, and construction. Manufacturing and most service businesses can be fully foreign-owned, especially with BOI promotion.

How much does it cost to register a company in Thailand?

Government fees are 5,000-10,000 THB for registration. Professional fees (lawyer or agent) run 15,000-50,000 THB. Additional costs include registered capital (though this doesn't need to be fully paid up), a registered office address (5,000-15,000 THB/year for virtual offices), and initial accounting setup. Total setup cost: 25,000-75,000 THB ($700-2,100).

What is the BOI and should I apply?

The Board of Investment (BOI) is a Thai government agency that promotes foreign investment by offering tax incentives, relaxed foreign ownership rules, and other benefits to qualifying businesses. BOI-promoted companies can be 100% foreign-owned even in restricted sectors, receive corporate tax holidays of 3-8 years, import machinery duty-free, and obtain work permits without the 4:1 Thai-to-foreign employee ratio. The application process takes 3-6 months and is best suited for technology, manufacturing, digital services, and export-oriented businesses.

Do I need an accountant for my Thai company?

Yes, all registered Thai companies are required to maintain proper accounting records and file annual financial statements with the Department of Business Development. Corporate income tax returns are due within 150 days of the company’s fiscal year end. Most small businesses hire an accounting firm for 5,000-15,000 THB/month to handle bookkeeping, VAT filings, payroll, and annual audits. This is a legal requirement, not an optional expense, and penalties for non-compliance can be severe.

Business14 min min read

How to Start a Company in Thailand

Thailand Path Team|March 24, 2026

Starting a company in Thailand as a foreigner involves navigating unique legal structures, ownership restrictions, and regulatory requirements. This guide provides a clear roadmap through the entire process — from choosing the right company type to obtaining work permits and staying compliant with Thai business law.

Key Takeaways

1Thai Limited Company is the most common structure for foreign-owned businesses
2Registration takes 1-2 weeks and costs 20,000-60,000 THB total
3The 4:1 Thai-to-foreign employee ratio applies for work permits
4BOI promotion can offer tax holidays and relaxed foreign ownership rules
5A registered capital of 2M THB minimum is needed per foreign work permit

Choosing Your Business Structure

For most foreign entrepreneurs, a Thai Limited Company is the right choice. It provides limited liability protection for shareholders, can be 100% foreign-owned in many industries (though the Foreign Business Act B.E. 2542 restricts foreigners from certain sectors including retail, agriculture, construction, and professional services like law and architecture), and provides a pathway to obtaining work permits and long-stay Non-B visas. A minimum of 3 shareholders is required at the time of incorporation, though shareholding structures can be adjusted later. The company must have a registered address in Thailand (virtual offices are acceptable for most business types and cost 5,000-15,000 THB/year) and at least one director. If your business falls under the Foreign Business Act’s restricted categories, you may need to obtain a Foreign Business License or structure the company with Thai majority ownership (51% Thai, 49% foreign), though this requires careful legal structuring to protect your interests. Alternatively, businesses that receive Board of Investment (BOI) promotion can enjoy 100% foreign ownership even in normally restricted sectors, along with tax holidays of 3-8 years, reduced import duties on machinery, and permission to own land. The BOI application process takes 3-6 months but can be transformative for qualifying businesses, particularly in technology, manufacturing, and digital services.

The Registration Process

Step 1: Reserve your company name at the Department of Business Development (DBD) — takes 1-2 days. Step 2: Draft the Memorandum of Association (MOA) and Articles of Association. Step 3: Hold a statutory meeting with shareholders. Step 4: Submit registration documents to the DBD — takes 3-5 days. Step 5: Obtain your company registration certificate and tax ID. Step 6: Register for VAT (if annual revenue will exceed 1.8M THB). Step 7: Open a corporate bank account. Most foreigners hire a lawyer or company registration service to handle this process — costs 15,000-50,000 THB in professional fees.

Work Permits for Business Owners

As a business owner, you can apply for a work permit through your own company, which also enables a Non-B visa and long-term stay in Thailand. The key requirements are: a Non-B visa (obtained from a Thai embassy abroad or converted in-country in certain cases), the company must have paid-up registered capital of at least 2 million THB per foreign employee requesting a work permit, the company must employ a minimum of 4 Thai employees per foreign worker (this ratio is one of the biggest hurdles for new businesses, so plan your hiring accordingly), minimum salary requirements apply based on nationality (50,000 THB/month for Western nationals from the US, UK, EU, Australia, and Canada; 35,000 THB for South Korean and Japanese nationals; 25,000 THB for most Asian nationalities), and you must file personal income tax returns. The work permit specifies your job title, duties, and work location, and you must work only within those parameters. The permit is valid for 1 year (or the duration of your employment contract, whichever is shorter) and must be renewed annually. Renewal requires proof of continued compliance with all requirements including the Thai employee ratio. The entire work permit process typically takes 4-8 weeks from submission to approval. Many companies use an immigration lawyer or visa agent to handle the paperwork, with fees ranging from 15,000-30,000 THB per work permit.