A lot of businesses in Thailand are restricted to majority Thai shareholding companies. However, there are many exceptions where companies can have 100% foreign ownership, such as through the Board of Investment of Thailand and/or through the Foreign Business Act for example. Companies must have at least 1 director who has to be an individual person and cannot be a corporate director such as in certain jurisdiction. There must also be at least two shareholders at all times (new law coming up in 2023). At startup, the company also needs to have an address.
         If the company will generate more than Baht 1.8 million per year, it will need to register for vat, except if it’s in a non VAT business such as real estate business. 
         In general, to hire an expatriate, the Company must be VAT registered, have at least Bt. 2 million registered capital and four Thai employees on the payroll. If the expatriate is married to a Thai person, then the registered capital can be Baht 1 million and the company would only need two Thai employees. The Board of Investment has also enacted new rules for high net worth individuals to live and work in Thailand through their programs known as Long Term Visa. More details can be seen from the BOI website.

We have a team of experts that can assist with the legal aspects of startup your business in Thailand, including but not limited to;