If foreigners want to set up a company in Thailand,

can they hold the shares for more than 50%?

If foreigners want to set up a company in Thailand, can they hold the shares for more than 50%? Wonderfulpackage recommend for foreigners who are interested in doing business and holding more than 50% of the shares in Thailand. First of all, we need to know that Companies, where foreigners hold more than 50% of the shares, are commonly called Foreign Company or Thai Company owned by foreigners. However, the process of setting up the company is more complicated and the fees are higher than the general setup of a general company.

Let's see what steps and information to set up the company.

• First, we must assess whether the business goals must obtain from the Foreign Business Administration Office or not. If permission is required, a business license must obtain first. Then the company registration process can begin.
• Prepare complete company information such as names of shareholders company certificate, business plan and marketing plan, passport certified by the embassy, letter of appointment of representative by the authorized person to bind the juristic person, and others.
• Must translate documents into Thai language
• Fill out the request form and submit the request form and supporting documents to the Department of Business Development.
• Waiting to review the Request Form and supporting documents. Then, the officer of the DBD will appointment with the operators to present their business and marketing plans. After that, officials of the DBD will consider the application for setting up the company. At this stage, the officers may request more information at the officer's discretion.
• When the supporting documents for the request for setting up the company, marketing plan, and business plan are complete, the Foreign Business Committee will consider for approval and issuing a license and pay the next fee.

Processing Time

The total duration is approximately 3-6 months or more, subject to the availability of the company and the queue of the committee's approval and licensing.

Therefore, foreigners who want to open a company in Thailand and hold more than 50% of the shares, if it is a manufacturing factory whether produced for domestic distribution or export abroad, foreigners can hold 100% of the shares in the company. However, the least registered capital must not less than 2 million baht.

In case the registered capital is more than 5 million baht when the company is registered, company directors require to open a bank account in Thailand and deposit money into the account equal to the amount of paid-up capital, and request a certificate of deposit from the bank to submit to the DBD within 15 days from the date of establishment of the company. Opening an account, the company has to have the authorized director go to the bank in person to open the account.

For businesses other than manufacturing, if it is a business that the BOI promotes investment, you can apply for permission through the BOI which takes approximately 4-6 months for BOI or FBL (Foreign Business License) through the DBD, Foreign Trade Division.

If a business that a foreigner wants to do is a business on a prohibited list, foreigners are not allowed to do so you cannot apply for FBL. However, businesses that allow foreigners to do will it be possible to apply for FBL, whether approve it or not depends on the discretion of the Foreign Business License Committee that the process will take about 4-6 months.

Thank you for the information from

• ASC
• DBD

外国人可以在泰国开设一家持有股份超过50％的公司吗？

ชาวต่างชาติ สามารถเปิดบริษัทโดยถือหุ้นเกิน 50% ได้หรือไม่?

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