Company Formation in Thailand: The Definitive Guide for NRIs & Global Investors 2025

Last updated: June 2025 | Blueberry – Kerala's Premier Global Trade & Financial Services Facilitator

Why Thailand for Company Formation?

Thailand is Southeast Asia's second-largest economy with a GDP of USD 500+ billion. It is a major hub for manufacturing (automotive, electronics, food processing), tourism, and increasingly digital services. The government's Thailand 4.0 initiative and the Eastern Economic Corridor (EEC) are driving significant investment in high-tech industries, offering generous incentives for qualifying businesses.

For NRIs and Indian entrepreneurs, Thailand offers a DTAA with India, BOI tax holidays of up to 8 years, and a strategic ASEAN location with direct access to markets in Myanmar, Laos, Cambodia, and Malaysia.

BOI Incentives

The Board of Investment (BOI) is Thailand's investment promotion agency. BOI-promoted companies receive:

Corporate tax holiday: 3–8 years (depending on activity and location)
100% foreign ownership (exemption from Foreign Business Act restrictions)
Import duty exemptions on machinery and raw materials
Land ownership rights for promoted businesses
Work permit and visa facilitation for foreign employees

Promoted sectors include: advanced manufacturing, digital economy, medical hub, smart electronics, food innovation, and logistics.

DTAA Benefits with India

Dividends: 10% withholding
Interest: 10–15% withholding
Royalties: 10–15% withholding
Capital gains: Generally taxable in Thailand (0% on listed securities)

Tax Structure

Tax Type	Standard Company	BOI-Promoted	SME
Corporate Tax	20%	0% (holiday period)	15% (first THB 3M)
Capital Gains (listed)	0%	0%	0%
Dividend Withholding	10%	10%	10%
VAT	7%	7% (or exempt)	7%

Formation Process

Business activity assessment and BOI eligibility review
Name reservation with DBD
Memorandum & Articles preparation and filing
Statutory meeting and share allotment
BOI application (if applicable)
Corporate bank account opening
VAT and social security registration

Costs & Timeline

Blueberry's all-inclusive Year 1 package: ₹39,999. Timeline: 10–15 business days (BOI: additional 60–90 days). View full package →

Banking in Thailand

Key banks: Bangkok Bank, Kasikorn Bank (KBank), Siam Commercial Bank (SCB), Krung Thai Bank. Account opening: 2–4 weeks with full KYC.

Annual Compliance

Annual general meeting (within 4 months of financial year end)
Audited financial statements filing with DBD
Corporate income tax return (within 150 days of year end)
VAT monthly filing
Social security contributions
India FEMA/RBI APR filing (31 July annually)

FAQ

Can an NRI own 100% of a Thailand company?: Generally 49% under the FBA, but BOI-promoted companies and certain sectors allow 100% foreign ownership.
What is the EEC?: The Eastern Economic Corridor is Thailand's flagship special economic zone covering Chonburi, Rayong, and Chachoengsao provinces, offering enhanced BOI incentives for high-tech industries.