An Overview of Company Registration in Thailand

Due to its advantageous location, Thailand has excellent business opportunities for international investors as well as foreigners wishing to establish a Thai firm and conduct business there. Thailand's robust export industry, plentiful natural resources, steady economic growth, and vibrant consumer market make it an ideal destination for international business. The Foreign Business Act (FBA) regulates foreign company formation, Thai company registration, and foreigners' business operations in Thailand. Foreigners can choose from a wide range of company formations, including the widely used Thai Limited Company. A basic Thai Limited Liability Company can be registered in Thailand in as little as three to five business days, while a more complicated BOI Company may require up to 90 days. This entire procedure is based mostly on the chosen company structure.
Post Registration To-dos
Once you have successfully completed the registration process, you must do the following task without missing upon any:

Tax Registration: For taxation purposes, any business in Thailand needs to be registered. Within 60 days of formation or the commencement of business operations, businesses that are required to pay Corporate Income Tax (CIT) must receive a Tax ID card and registration number for the company from the Thailand Revenue Department. In addition, business owners who are responsible for paying Value Added Tax (VAT) have to apply for a VAT ID within 30 days of reaching THB 600,000 in sales.

Bank Account Opening: After being formally registered, businesses in Thailand can use online banking and open corporate bank accounts. To open a company bank account, you need to know which bank and location, what kind of accounts the firm needs, and who will sign the papers. Because the statutory meeting must be held at least seven days before the actual registration, the registration process typically takes at least nine days.