Doing Business in Thailand: A Complete Guide for Foreigners (2026)
Quick answer: To do business in Thailand as a foreigner, choose the right structure (Thai Limited Company, BOI-promoted company, Treaty of Amity or branch office), register with the DBD in about 7–14 business days, register for tax and VAT, then keep monthly accounting, tax filings, payroll and visas compliant. D PROMPT ACCOUNTING handles all of this in English from our Bangkok office.
In this guide
- How do I set up a company in Thailand as a foreigner?
- Can a foreigner own 100% of a company in Thailand?
- How do I set up a BOI company in Thailand?
- How much does accounting cost for a small business in Bangkok?
- What taxes does a company in Thailand pay?
- Which visa do I need to work in Thailand: Non-B, LTR or Smart Visa?
- Why work with an English-speaking accountant in Thailand?
How do I set up a company in Thailand as a foreigner?
Short answer
Most foreign investors register a Thai Private Limited Company with the Department of Business Development (DBD). Once documents are ready, registration typically takes 7–14 business days.
- Choose the right structure — Thai Limited Company, BOI-promoted company, Treaty of Amity company (US citizens), branch or representative office.
- Reserve the company name and prepare the Memorandum of Association and Articles of Association.
- Register the company with the DBD (a private limited company needs at least two shareholders).
- Register for tax: corporate Tax ID, and VAT if required.
- Open a corporate bank account and register with the Social Security Office when you hire staff.
D PROMPT ACCOUNTING fee: from THB 35,000 + government fees (approx. THB 7,000). Company registration service →
Can a foreigner own 100% of a company in Thailand?
Short answer
Often yes — but not by default. Under the Foreign Business Act, many service activities are restricted to 49% foreign ownership. The legal routes to majority or 100% foreign ownership are BOI promotion, the US–Thai Treaty of Amity, or a Foreign Business License.
- BOI promotion — for eligible activities such as software, digital services and manufacturing.
- Treaty of Amity — for companies majority-owned by US citizens (some activities excluded).
- Foreign Business License — government approval, typically 60–120 days.
Avoid nominee shareholders: using Thai nominees to hide foreign ownership is illegal. Why nominee shareholders are a red flag →
How do I set up a BOI company in Thailand?
Short answer
Confirm your activity is on the BOI promotion list, submit an online application with a business plan, attend the BOI explanation meeting, then receive approval — typically within 40–90 business days.
- Eligibility check — match your business activity to a BOI category and its conditions (for most activities the minimum investment is THB 1 million, excluding land and working capital).
- Prepare the application — business plan, investment and employment projections.
- Submit online through the BOI e-Investment system.
- Explain your project to BOI officers.
- Approval & promotion certificate — then incorporate (if not yet done) and use the BOI channel for visas and work permits.
D PROMPT ACCOUNTING BOI package: from THB 180,000 + government fees. Full 2026 BOI guide →
How much does accounting cost for a small business in Bangkok?
Short answer
At D PROMPT ACCOUNTING, monthly accounting and tax compliance starts at THB 6,000/month for up to 30 transactions, and THB 15,000/month for up to 100 transactions including payroll for up to 10 staff (prices exclude 7% VAT).
| Package | Fee (THB, excl. VAT) | Includes |
|---|---|---|
| Starter | 6,000 / month | Up to 30 transactions, VAT & WHT filings, monthly P&L in English |
| Growth | 15,000 / month | Up to 100 transactions, payroll up to 10 staff, half-year & annual CIT |
| Premium (BOI / multi-entity) | from 35,000 / month | BOI reporting, CFO advisory, audit fully managed |
| Annual audit coordination | from 25,000 / year | Auditor’s fee quoted separately |
Every Thai limited company must have its annual financial statements audited by a Thai Certified Public Accountant, so budget for the audit as well. All fees →
What taxes does a company in Thailand pay?
Short answer
The main taxes are corporate income tax (20% standard rate), VAT at 7% once turnover exceeds THB 1.8 million a year, withholding tax on many payments, and payroll tax and social security for employees.
- Corporate income tax: 20% of net profit. Qualifying SMEs (paid-up capital ≤ THB 5M and revenue ≤ THB 30M) pay 0% on the first THB 300,000, 15% up to THB 3M and 20% above.
- VAT: 7% (the reduced rate has been extended to 30 September 2027). Registration is mandatory when taxable turnover exceeds THB 1.8 million per year.
- Withholding tax: commonly 3% on services, 5% on rent and 2% on advertising — filed monthly. WHT cheat sheet →
- Payroll: personal income tax withheld monthly (PND.1); Social Security 5% from employer and 5% from employee on wages up to THB 17,500/month (from 2026).
- Annual filings: half-year CIT (PND.51), annual CIT (PND.50) within 150 days of year-end, and audited financial statements filed with the DBD.
Which visa do I need to work in Thailand: Non-B, LTR or Smart Visa?
Short answer
Most foreign employees and directors use a Non-Immigrant B visa plus a work permit. High-income professionals, investors and specialists may qualify for the 10-year LTR visa or the Smart Visa, which come with work authorisation benefits.
- Non-B + work permit: requires a Thai employer. Under standard rules a company usually needs THB 2 million paid-up capital and four Thai employees per foreign work-permit holder (BOI companies follow different rules). Our fee: from THB 25,000.
- LTR visa (10-year): our fee from THB 80,000; government fee THB 50,000.
- Smart Visa: our fee from THB 65,000.
Immigration requirements change frequently and approval is never guaranteed — we confirm current rules for your nationality and company before you apply. LTR vs Smart vs Non-B compared →
Why work with an English-speaking accountant in Thailand?
Short answer
Thai tax returns and statutory filings are in Thai, and deadlines are strict. An English-speaking accounting firm translates every obligation into clear English reports and advice, so foreign owners stay compliant and make decisions with confidence.
D PROMPT ACCOUNTING gives you one English-speaking point of contact for company setup, accounting, tax, payroll and visas — with fixed fees agreed in writing before work starts. About our team →
Your first 90 days in Thailand: checklist
- ☐ Business activity checked against the Foreign Business Act lists
- ☐ Structure chosen (Thai Ltd / BOI / Treaty of Amity / FBL / branch)
- ☐ Company registered with DBD and Tax ID issued
- ☐ VAT registration (if turnover will exceed THB 1.8M/year)
- ☐ Corporate bank account opened
- ☐ Social Security registration for first employees
- ☐ Non-B visa and work permit (or LTR / Smart Visa) for foreign directors
- ☐ Monthly bookkeeping, VAT and WHT filing calendar in place
This guide is general information, current as of October 2026, and not legal or tax advice. Rules change — we confirm the current requirements for your situation in a free 30-minute consultation.