Business Start-up Costs in Thailand

Updated on Wednesday 08th September 2021

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If you are a foreign investor looking to start up a business in the Land of Smiles, there are important aspects regarding the company start-up costs and the time frames involved in Thailand that you should know. 

The information below examines briefly the process, time and costs involved in starting up a trading or industrial business with between 10 to 15 employees and a start-up capital of 10 times the country’s per capita gross national income, which was measured at PPP (Purchasing Power Parity) 13,840 (USD 13,840) in 2014. 

1.    Research and reserve a business name online in Thailand

In order to research and reserve a business name online, the entrepreneur in Thailand must access the website of the Department of Business Development. 

•    Time frame: less than a day, through an online process;
•    Costs: none

2.    Deposit paid-in capital with a bank

The directors of the business ask the promoters and subscribers to pay in minimum 25% of the registered capital with the company’s bank. Our law firm in Thailand can provide more details on this matter. 

•    Time frame: one day;
•    Costs: 25% of the company’s registered capital.

3.    Business seal in Thailand

Under the Civil and Commercial Code, every certificate of shares have to be signed by minimum one company director and should be stamped with the company seal. 

•    Time frame: four days;
•    Thailand business start-up costs involved: THB 400 (USD 11.49), THB 700-800 (USD 20.12- 22.98) for urgent orders.

4.    Obtain endorsement for memorandum of association, apply to enlist the business as a legal organization and submit business work regulations

In order to receive approval for work regulations, the following steps are required:

•    With the Single Point Service Center, the investor can register for social security and for the Workmen’s Compensation Fund;
•    The Department of Business Development gets the work regulations as well and sends them to the Office of Labor Protection and Welfare of the Ministry of Labor;
•    Registration of the Business has to be made in maximum three months from the date of the statutory meeting;
•    In the same day, the director committee could request memorandum registration and company registration for establishing the business.

Foreign investors should keep in mind that they need to apply for a Thai business visa.

•    Time frame: one day for registration and 21 days for approval of work regulations;

Business start-up costs in Thailand
     o    fee for registration of memorandum of association: THB 850 (USD 24.4);
     o    fee for registration of the business: THB 8,500 (USD 244.53);
     o    stamp duty connected to the memorandum of association: THB 200 (USD 5.7);
     o    stamp duty connected to articles of association: THB 200 (USD 5.7);
     o    Certificate of Registration fee: THB 100 (USD 2.8);
     o    affidavit fee: THB 200 (USD 5.7);
     o    certification of document fee: THB 50 (USD 1.43) per page.

We strongly advise you to get in touch with our Thai lawyers who can thoroughly guide you through the company registration process in the country. If you need to know more about the business start-up costs in Thailand, we can offer support regarding all costs involved, as well as the taxation system.