Thailand Limited Company Setup – Step-by-Step Guide to Registering Your Business in Thailand

By The Thailand Lawyer Service – Expert Legal Assistance in Bangkok

Setting up a limited company in Thailand is one of the most popular business structures chosen by foreign investors and Thai entrepreneurs. The limited liability company model offers protection for shareholders, a clear legal framework, and the ability to conduct a wide range of business activities. If you’re planning to start a business in Thailand, understanding the full setup process is essential for a successful and compliant launch.

At The Thailand Lawyer Service, we provide professional support in company registration and legal services tailored to foreign and local clients looking to establish a limited company in Thailand. Based in Bangkok, our experienced legal team is ready to guide you through the procedures, legal obligations, and required documentation for a smooth company setup.

What is a Limited Company in Thailand?

A limited company (LLC) in Thailand is a separate legal entity formed with a minimum of three shareholders and at least one director. This structure is favored for its limited liability protection, allowing shareholders to limit their responsibility for the company’s debts and obligations based on their shareholding.

A Thailand limited company must be registered with the Department of Business Development (DBD) under the Ministry of Commerce. Once registered, the company is entitled to carry out business activities, open corporate bank accounts, apply for work permits, and obtain relevant licenses based on its business nature.

Key Advantages of a Thailand Limited Company

  • Limited Liability for Shareholders

  • Clear Ownership Structure and Shareholding Rights

  • Ability to Apply for Work Permits and Business Visas

  • Corporate Bank Account Eligibility

  • Recognition as a Legal Entity for Contracts and Property Ownership

  • Long-Term Business Operations in Thailand

Legal Requirements for Limited Company Registration

To establish a limited company in Thailand, the following legal requirements must be met:

  • At least 3 Shareholders
    These can be either Thai or foreign individuals or entities.

  • At least 1 Director
    Responsible for managing the company on behalf of the shareholders.

  • Registered Company Address in Thailand
    Must be a legitimate physical address with legal documentation.

  • Company Name Approval
    The name must be unique and registered with the DBD.

  • Defined Business Objectives
    The company must list the business activities it intends to perform.

  • Minimum Capital Requirements
    Especially if the company wishes to employ foreign nationals.

  • Company Seal and Share Certificates
    Issued after the company is officially registered.

Step-by-Step Process for Setting Up a Limited Company in Thailand

1. Reserve the Company Name

The first step is to choose and reserve a unique company name through the Department of Business Development’s online portal. The name must not resemble existing registered names and should comply with naming regulations.

2. Prepare the Memorandum of Association (MOA)

The MOA includes essential details such as company name, registered address, business objectives, capital structure, and shareholder information. This document must be signed by the promoters (initial shareholders).

3. Convene a Statutory Meeting

A meeting is held to finalize company structure, approve the articles of association, appoint the board of directors, assign auditor responsibilities, and review capital contributions.

4. Register the Company with the DBD

Within 90 days of the statutory meeting, the company must be officially registered with the DBD. All required documents must be submitted, including the MOA, minutes of the statutory meeting, list of shareholders, director’s acceptance form, and proof of address.

5. Register for VAT (if applicable)

If your company’s annual turnover is expected to exceed a certain threshold, registration for VAT (Value Added Tax) is required with the Revenue Department.

6. Apply for a Company Tax ID

A corporate tax identification number must be obtained within 60 days after incorporation or commencement of operations.

7. Open a Corporate Bank Account

After receiving the company registration certificate and tax ID, you may open a business bank account under the company’s name with a Thai commercial bank.

Thai vs. Foreign Shareholding in a Limited Company

Thailand’s Foreign Business Act restricts foreign ownership of certain business types. For many businesses, foreign shareholding is capped at 49%, meaning at least 51% of the shares must be owned by Thai nationals. However, certain exceptions apply:

  • Treaty of Amity (U.S. citizens)

  • BOI Promotion (for Board of Investment-approved businesses)

  • Foreign Business License (FBL)

If you are a foreign entrepreneur looking to hold the majority of shares or 100% foreign ownership, alternative structures or approvals will be needed.

Post-Registration Compliance

After your limited company is registered in Thailand, there are ongoing legal and tax obligations to be maintained, including:

  • Monthly accounting and tax filings

  • Annual financial audits

  • Withholding tax submissions

  • Social Security Fund registration (if hiring employees)

  • Work permit applications for foreign staff

  • Updating company structure or address with the DBD when changes occur

It’s critical to remain compliant with Thai business law to avoid fines, penalties, or business suspension.

Business Visa and Work Permit for Company Directors or Staff

If your limited company will employ foreign nationals (including foreign directors), you must ensure:

  • Sufficient registered capital per foreign staff

  • Thai-to-foreigner employee ratio is met (generally 4 Thai employees per 1 foreigner)

  • Proper office lease documentation is available

  • Foreigners meet personal qualifications for visa and work permit

Upon satisfying these conditions, you can apply for a Non-Immigrant Business Visa (Non-B) and obtain a Work Permit through the Ministry of Labour.

Common Business Activities for Thai Limited Companies

Thailand limited companies can operate across a broad range of industries. Some of the popular sectors include:

  • Export and Import

  • E-commerce

  • Hospitality and Tourism

  • Construction and Engineering

  • IT Services and Software Development

  • Education and Language Services

  • Consulting and Professional Services

If your business falls into a restricted category, additional licenses or special permissions may be required. Our legal team will help assess your activity and guide you through any additional requirements.

Why Work with The Thailand Lawyer Service?

Establishing a limited company in Thailand involves many steps, legal documents, and regulatory compliance. At The Thailand Lawyer Service, our team of experienced professionals in Bangkok provides:

  • Full company registration support

  • Legal advice tailored to your industry

  • Visa and work permit application services

  • Tax, accounting, and compliance guidance

  • Registered address and documentation support

  • Foreign ownership structure solutions

With our extensive experience in helping foreign and local clients navigate the company setup process, we simplify every stage of forming your limited company in Thailand.

Get Started with Your Thailand Limited Company Setup

Ready to start your business in Thailand? Let The Thailand Lawyer Service assist you every step of the way—from name reservation to post-registration compliance. Our legal experts in Bangkok provide all-in-one services to ensure your company is registered efficiently and in full accordance with Thai law.

Contact us today to schedule a consultation and begin the process of forming your limited company in Thailand with trusted legal guidance.