How to start a business in Thailand?

Thailand is one of the most attractive countries in Southeast Asia for doing business. The local economy shows stable growth, with excellent development of such sectors as tourism, agriculture and industry. In addition, Thailand has a favourable geographical position, allowing access to the markets of Cambodia, Myanmar, Vietnam and Laos. And the country’s government is open to foreign businessmen, as evidenced by tax incentives and support programmes.

Our business experts are often asked what kind of business to open in Thailand. Of course, the most popular sphere is service and services, especially in the tourism industry. And in this article we will talk about all the nuances of opening a business in Thailand.

Legal forms of business in Thailand

There are different legal forms of business in Thailand.

Sole Proprietorship

The simplest form of doing business, but practically not available to foreigners. Only Thai citizens and some US citizens can become a sole proprietor in Thailand.

Business Partnership

The type of legal entity formed by an agreement between two or more persons to conduct business as co-owners can be either ordinary or limited liability. The participation of foreigners is not prohibited, but has many nuances: the foreigner’s share cannot be more than 49% and he cannot be a manager. The peculiarities of a partnership are such that the interests of foreigners are vulnerable, so we do not recommend opening a business in Thailand by partnership

Limited company, LTD

The most common form of business organisation in Thailand for foreigners. This structure limits the liability of company owners to the amount they have invested in the company. It requires a minimum of 2 shareholders, one of whom is a Thai citizen, and an authorised capital of 2.5 million baht.

Joint venture

A form of organisation for a large business, such as 2 companies working together – one foreign and one Thai.

The third point, LTD is the most commonly used way how to start a business in Thailand. A limited liability company combines the advantages of a sole proprietorship and a limited liability partnership, but allows a foreigner to protect their business and interests in Thailand. This form allows you to open a small or medium-sized business in Thailand.

Restrictions for foreigners

In addition to not being able to become self-employed in Thailand, foreigners are also not allowed to engage in certain types of businesses. In total, there are 3 lists of areas closed to foreigners, comprising 43 activities.

1 category

The first list is a ban for special reasons, foreigners cannot:

• open radio stations and television channels;

• grow rice or engage in agriculture;

• engage in animal husbandry;

• fish and seafood;

• engage in forestry and timber processing;

• trade in land;

• collect Thai herbs and make herbal products;

• trade or organise auctions for the sale of antiques and items of historical value;

• make by any means or cast Buddha images or bowls for giving to monks.

2 category

The second list is businesses related to the security and stability of the country, as well as affecting local culture and irreplaceable resources. It prohibits foreigners from opening companies in 3 categories:

• Country Security – foreigners cannot manufacture, sell or service weapons and explosives, as well as equipment, military vehicles, aircraft and other.

• Arts and local handicrafts – non-Thai citizens may not engage in wood carving; silk weaving or silk printing; making Thai musical instruments; making gold, silver or pottery; or producing bowls or crockery.

• Natural resources and environment – foreigners cannot produce cane sugar, salt, extract minerals, or process timber.

3 category

The third list includes those areas in which the government does not allow competition between locals and foreigners. It prohibits foreigners from:

• process rice and make flour from rice as well as field crops;

• provide accounting, architectural and engineering services;

• engage in construction (with some nuances);

• engage in brokerage activities (with exceptions).

The list also includes advertising, hotel, excursion business and catering, but these are the spheres that are most in demand among foreigners. That is why the LTD form is chosen, in which a Thai citizen has 51%. This allows you to bypass the restriction, which business can be opened in Thailand to a foreigner.

Also, to run a business from 2 or 3 of the list, you can apply to the Board of Investment (BOI). But this is a more difficult and expensive procedure that only big businessmen go to.

How to start a business in Thailand

Since the most popular form of business in Thailand is a limited liability company, we will talk about how to start such a business. To start a business you will need to follow 7 steps:

• Name Registration. The name should be in accordance with the Department of Business Development (DBD) guidelines of the Ministry of Commerce.

• Preparing and signing documents. A Memorandum of Association (MOA) will need to be drafted and a package of documentation will need to be prepared: office address, business purpose, amount of registered capital (at least 2.5 million baht), details and signatures of the founders.

• Registration of the company with the Department of Business Development (DBD). Processing time depends on the specifics of your business. Once completed, you will receive the registration documents along with a company identification number/tax ID.

• Open a bank account for the organisation.

• Register for corporate income tax and VAT with the Tax Department.

• Register with the Social Security Fund (SSF).

Once this is done, the business registration process is over and you can move on to obtaining a visa.

Starting a business in Thailand is not a complicated procedure, but it requires knowledge of the country’s laws and experience in dealing with bureaucratic tasks. Thai.Pro team knows how to open a business in Thailand and we will be happy to help you start your business in the Kingdom!

Peculiarities of starting a business in Thailand

As we have already said, 51% of the company must be owned by a Thai citizen. Only in this case the business is considered Thai and can enjoy the privileges. Thai.Pro team will help you find a reliable partner from Thailand, with whom you can confidently build a business. In addition, we know how to protect your interests:

• We will specify in the company’s Articles of Association that you are the sole managing director;

• We will establish a procedure for all documents and decisions to be signed by the managing director;

• determine a quorum of shareholders of at least 65% of the votes cast;

• divide shares by voting rights with different rights.

By seeking help with business registration in Thailand from Thai.Pro you can be assured not only that your company will be registered according to all the rules, but also that you will be legally protected.

Obtaining a visa and work permit

After all the steps of opening a business in Thailand have been done, it is possible to proceed to obtain a visa for the foreign director and staff – now the opened company can sponsor a non-immigrant B visa.

First, the B visa is obtained in the country of citizenship for 90 days, Russians must apply to the Embassy of the Kingdom of Thailand in Russia. With this visa, a work permit is obtained in Thailand, and afterwards the visa is extended to an annual visa. You can renew your business visa without leaving the country.

Thai.Pro will help not only to open a company in Thailand, but also to obtain a visa and work permit.

How much does it cost to start a business in Thailand

The price of starting a business is made up of many factors, which also depend on the specifics of the company. In addition, visa fees, legal fees and other expenses may or may not be included in the price. Also, depending on the specifics of the company’s activities, the cost of accounting, licence, if necessary, is different.

Therefore, the cost of opening a business in Thailand is individualised. Mandatory costs that do not depend on the field of activity of the company (all prices are in Thai baht):

• registration fee – from 17,000;

• authorised capital – from 2 500 000;

• visa and work permit costs – from 20,000.

The average cost of starting a new business and registering a company in Thailand is approximately 80,000 – 100,000 baht.

Buying and selling ready-made businesses in Thailand

When thinking about what kind of business to open in Thailand, rarely consider the possibility of buying a ready-made business. But buying a ready-made business in Thailand is also a great option for foreigners, because there is no need to go through the registration procedures and you can go directly to the conduct of activities.

The purchase procedure, as well as the sale, is quite clear – all ownership rights are transferred to the buyer, a new director and shareholders are appointed.

In addition to the cost of the business itself, it will be necessary to pay for legal services and pay various fees. The price of the business itself often depends not only on the specifics, but also on the age of the company – the longer it exists, the more expensive it is.

The main pitfall of this method of opening a business is the importance of checking the existing company as thoroughly as possible. After all, if it suddenly finds debts or problems with the law, the new owner will be responsible for this.

What kind of business to start in Thailand

Not sure what kind of business to start or buy in Thailand? Here are examples and the value of real companies for sale in 2025:

• cleaning (cleaning shopping malls, private jets and yachts, offices and homes), 25 years old, transferring staff, equipment, transport and contracts – $200,000;

• bar in Bangkok (location near Yong Charoen Market, designed for 80 visitors), 13 years, equipped lounge and kitchen – $18,000;

• beauty salon in Phuket (Ravai Beach, 43 sq.m. in a residential complex building), 3 years, all inventory included, 3-year lease contract – $33,000;

• 3-storey hotel and hostel in Pattaya with self-service laundry (rent is 80,000 baht per month) – $59,000.

As you can see, the services and service sector is in demand – bars, cafes and restaurants, SPA and massage parlours, hotels and hostels. Of course, in popular niches there is more competition, and in less popular areas the path to development is more difficult.

Is it difficult to start a business in Thailand

Let’s be honest, it is not easy for a Russian or other foreigner to open a business in Thailand. It takes a long time to understand the laws, regulations and rules, to communicate with representatives of the law, which can be a difficult task without knowledge of Thai.

However, it is realistic to start a business in Thailand, the investments here are no more than in starting a business in Russia. If you properly think out the strategy and comply with all the formalities, you will soon become the owner of a profitable business in Thailand. This will allow you to work and live in the country legally for many years. And the Thai.Pro team is your reliable assistant, we are ready to take on all the complexities of opening your business!