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MSNA Group 65/62 Chamnan Phenjati Business Center, 6/F, Rama 9 Road, Bangkok.
Mon - Fri: 7AM – 4PM
+662-643-2403
info@MSNAgroup.com

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Options for Foreigner Who Wants To Do Business in Thailand

The following is an overview of establishing a business in Thailand. There are 4 forms of establishment you can choose to operate your business in Thailand:

  1. Sole Proprietorships. This is not the form of business we recommend since the sole owner is exposed to unlimited liability of the business.
  2. Partnerships. A partnership can be registered and unregistered. Again partnerships are not recommended for foreigners wanting to do business in Thailand for the same reason as sole proprietorships.
  3. Limited Companies. The most popular form of business organization among general investors is private limited companies due to the fact that the liability of the investors is limited to the amount of unpaid shares subscribed by them.
    A private limited company requires a minimum of three promoters who file a memorandum of association, convene a statutory meeting and register the company. Once the company has been registered, it needs to obtain a tax identity card. Some companies are required to register into the VAT (Value Added Tax) system, depending on the types of business and the level of their gross income. They must also follow accounting procedures specified in the Civil and Commercial Code, the Revenue Code and the Accounting Act. Companies are required to close their accounts and have an auditor audit their books and file their audited financial statements once a year with the Revenue Department and the Department of Business Development.
  4. Branch Office . You may choose to operate your existing foreign company in Thailand as a Branch Office. Or you can choose to set up a representative office, which is a form of Branch Office but you cannot earn income in Thailand.

In order to operate a business in Thailand as a foreigner, you need to consult Thailand Foreign Business Law (Alien Business Act). Certain types of businesses do not have to apply for a Foreign Business License while most types do require that you get the Foreign Business License before you start the business operation.

Contact MSNA for any questions about setting up a business in Thailand.

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Types of Business a Foreigner Can Do in Thailand

If your company is Thai majority owned, you can do almost any kind of legal business. However, if yours is a foreign majority owned company, set up inside or outside of Thailand, you can do business with the following conditions:

(1) Non-restricted Businesses
General rules are that if your foreign majority company does export (from Thailand) or manufacturing businesses, it can operate the business without having to apply for a Foreign Business License.

(2) Restricted Businesses
Nearly all types of service and retail businesses are restricted to foreigners. As a foreign majority company you may obtain exemptions through getting a Foreign Business License or a Board of Investments (BOI) promotion, or in case of US companies or American majority companies, registration under the Treaty of Amity and Economic Relations between the United States of America and the Kingdom of Thailand. It should be noted that for some types of businesses, exemptions cannot be obtained.

Click for more information of Thailand Foreign Business Law or for the full version: http://msnagroup.com/thailand-business-company/thailand-foreign-business-law.

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Welcome to MSNA Ltd.

Welcome to MSNA Ltd, your business partner in doing business in Thailand. We are Thai accountants who know the Thai Accounting Law and Thai Tax Law very well. We provide not only accounting services, but also many other services necessary for helping you do business in Thailand. If you have any questions, be it Thai accounting or Thai tax related or anything to do with doing business in Thailand, please email us at info@msnagroup.com.

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