Asia-Pacific

Thailand

Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Thailand.

20% headline CITCorp Tax

VariesTimeline

100%Ownership

Foreign Ownership Eligibility

Thailand welcomes 100% foreign-owned companies

Fully remote formation — you never need to set foot in the country.

Private Limited Company is the standard operating structure
Headline corporate income tax is 20%
Standard VAT rate is 7%
Formation specifics vary with foreign business and sector rules

Ownership

100% Foreign OK

Formation

100% Remote

Note

Thailand DBD (Department of Business Development) standard Private Limited Company registration: 3–5 business days via DBD e-Registration. Foreign Business License (FBL) under Foreign Business Act adds 30–60 days. BOI-promoted companies: 2–4 weeks for BOI approval.

Tax at a glance

Thailand Tax Overview

20% headline CIT

Corporate income tax

PwC Thailand

7% standard rate

VAT

PwC Thailand

Pros & cons

Advantages & Considerations

Key Advantages

Clear DBD and Revenue Department registration channels
Competitive headline corporate and VAT rates
Established regional manufacturing and services base

Considerations

Foreign ownership and capital conditions depend on sector rules
Timeline certainty remains verification-dependent in the current fact sheet
Multiple licensing layers can extend setup duration

Incorporation Process

The process is strictly digital. Each stage builds on the previous one.

Total Timeline

Reserve company nameStep 1

Prepare incorporation documentsStep 2

Complete tax registrationStep 4

Reserve company name

Prepare incorporation documents

Complete tax registration

What you'll pay

Cost Architecture

Government Fees

DBD registration filingsDepends on legal form and filings

Tax registration setupAdministrative and activity dependent

Annual Ongoing

Annual financial statementsRecurring accounting/audit costs

Annual tax returnsDepends on business complexity

Professional Services

Incorporation and licensing supportMarket-based pricing

Tax and payroll compliance servicesMarket-based pricing

Standard Thai Co., Ltd. via DBD e-Registration: 3–5 days; FBL (Foreign Business License) requirement adds 30–60 days for foreign majority-owned businesses.

Still unsure about costs?

These are estimates — your actual cost depends on your structure

Every Thailand setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.

500+ businesses guided

No commitment required

Response within 24 hours

Fintech & Banking

Can non-residents open accounts without visiting? YES.

Banking options for non-resident founders in Thailand. Remote account opening availability varies by institution.

Institution	Type	Ease for Non-Residents	Notes
Bangkok Bank	Traditional bank	Low (Visit Required)	Institution-dependent KYC and signatory checks • Varies by bank/package • Bank-specific • Incorporation records, tax ID, UBO information, business profile • PromptPay, transfers, cards, online banking
Kasikornbank	Traditional bank	Low (Visit Required)	Institution-dependent KYC and signatory checks • Varies by bank/package • Bank-specific • Incorporation records, tax ID, UBO information, business profile • PromptPay, transfers, cards, online banking
Krungthai Bank	Traditional bank	Low (Visit Required)	Institution-dependent KYC and signatory checks • Varies by bank/package • Bank-specific • Incorporation records, tax ID, UBO information, business profile • PromptPay, transfers, cards, online banking
Siam Commercial Bank	Traditional bank	Low (Visit Required)	Institution-dependent KYC and signatory checks • Varies by bank/package • Bank-specific • Incorporation records, tax ID, UBO information, business profile • PromptPay, transfers, cards, online banking
Fintech and digital options vary by institution	Fintech	High (Remote)	Institution-dependent KYC and signatory checks • Varies by bank/package • Bank-specific • Incorporation records, tax ID, UBO information, business profile • PromptPay, transfers, cards, online banking

Regulatory requirements

Annual Compliance Matrix

Requirement	Deadline	Details
Annual accounts filing	Ongoing	Submit annual financial statements under Thai company rules.
Annual corporate tax return	Ongoing	File annual tax return and meet periodic tax obligations.
Payroll/social filings	Ongoing	Maintain social security and payroll compliance for employees.

Frequently Asked

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