Thai Limited Company (Thai-majority)
Investors operating in Thailand with Thai shareholders holding at least 51%, so the company is not a "foreigner" under the Foreign Business Act B.E. 2542 (1999).
Filing sequence at a glance
Reserve the company name with the DBD → register the Memorandum of Association and incorporate → obtain a tax ID → register for VAT when the conditions are met → register as an employer with the Social Security Office.
Conditions to meet
- Minimum of 2 promoters/shareholders under the amended Civil and Commercial Code, effective 7 February 2023.
- At least one director, with the binding-signature authority clearly stated on the company affidavit.
- A genuine registered office address with the building owner's consent letter.
- VAT registration once annual revenue exceeds THB 1.8 million, or earlier if required to support a work permit.
- To employ a foreigner, general practice requires THB 2 million paid-up capital per foreign employee and 4 Thai employees per foreign employee.
Documents to prepare
- Thai ID card and house registration copies for Thai shareholders and directors.
- Passport copies of foreign shareholders/directors, with certified translation when requested.
- Consent letter for use of premises, title deed or lease copy, and a location map.
- Name reservation form, Memorandum of Association, Articles of Association and the shareholder list (BorOrJor.5).
- Evidence of the source of funds subscribed by Thai shareholders, such as bank statements or a bank certificate.
Step-by-step process
- Reserve the company name through DBD e-Registration and await approval.
- Draft the Memorandum and Articles of Association, setting the share structure and director authority.
- Hold the statutory meeting and file the incorporation application with the DBD.
- Apply for the tax ID and register for VAT with the Revenue Department when the conditions apply.
- Open a corporate bank account and register as an employer with the Social Security Office within 30 days of the first hire.
Common mistakes
- Using Thai shareholders who do not genuinely invest (nominees) — an offence under section 36 of the Foreign Business Act.
- Drafting objectives so broadly that they cover business reserved for Thai nationals.
- Using a residential condominium as the registered office, which may fail a site inspection.
- Missing the annual financial statement and shareholder-list filings, which accrues penalties.
Deciding authority
Department of Business Development, Ministry of Commerce, together with the Revenue Department and the Social Security Office.
Talk to our team
Ask about scope of work, required documents and timing by phone, LINE or email. Approvals are at the authority's discretion — we do not guarantee outcomes and we do not set up nominee structures, but we review your file before submission to reduce the risk of rejection.
Contact usSources
Information current as of August 2026 — reconfirm the latest conditions with the authority before filing.
Other structures
More: Company registration FAQ · Work permit routes · Thai visa types