Set up a Company & Operate in Thailand — Clear and Compliant
Legal Unit helps foreign founders choose the right path (BOI, FBL, Treaty of Amity, Rep/Branch), then execute company registration, visas & work permits, banking, tax, payroll, and ongoing compliance.
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A Critical Warning: The High Risk of Using "Nominee" Shareholders
The Legitimate & Sustainable Path to Success in Thailand
Thailand Entry Options
The Ultimate Solution: 100% Foreign Ownership with BOI Promotion
The Foreign Business License (FBL): The Path for Non-BOI BusinessesTransparent Pricing & Engagement Models
The Legitimate & Sustainable Path to Success in Thailand
Beyond the risks of non-compliance, Thailand offers a secure, stable, and highly profitable environment for foreign investors who follow the correct legal pathways. The country is not only open for business—it is actively competing to attract high-value foreign enterprises.
Why Thailand? The Strategic Advantage
Before exploring the specific legal structures, it's important to understand why Thailand is consistently a top choice for foreign direct investment.
Strategic Gateway to Asia: Located in the heart of mainland Southeast Asia, Thailand offers unmatched access to the 660-million-consumer ASEAN market. It serves as a natural logistics hub for trading with China, India, and the entire Greater Mekong Sub-region.
Robust Infrastructure: The country boasts world-class international airports, deep-sea ports, and a modern road network. Its digital infrastructure, with widespread 5G and high-speed internet, is also a key government priority.
Skilled & Cost-Effective Workforce: Thailand offers a highly-skilled, educated, and cost-effective labor force, particularly in manufacturing, engineering, and services. Labor costs are significantly more competitive than in China and other regional hubs.
Favorable Business Environment: With a stable economy, pro-investment government policies, and a vast network of Free Trade Agreements (FTAs), Thailand has established itself as a reliable and business-friendly jurisdiction.
A Nation Eager for Your Expertise: Thailand's Promoted Industries
The Thai government is actively encouraging investment in specific, high-value sectors that align with its "Thailand 4.0" development plan. If your business operates in one of these fields, you are not just allowed to be here—you are wanted.
Key promoted industries include:
Digital & Data: Data Centers, AI development, Cloud Services, and other advanced digital technologies.
Electric Vehicles (EVs): Manufacturing of EVs, batteries, charging components, and the entire EV supply chain.
Advanced Agriculture & Food-Tech: Precision farming, bio-food products, and sustainable food technology.
High-Value Medical & Wellness: Advanced medical tourism, wellness centers, and medical device manufacturing.
Green & Bio-Industries: Renewable energy, waste-to-energy solutions, and businesses aligned with the Bio-Circular-Green (BCG) economic model.
For businesses, especially those in these promoted fields, Thailand provides powerful legal tools to bypass many of the usual restrictions. This opens the door to incentives like 100% foreign ownership, extensive corporate tax holidays, and simplified visas for your entire team of experts.
What About Other Businesses?
Even if your business is not on the high-priority list, Thailand remains an excellent and viable choice.
Most foreign-owned businesses in Thailand—such as restaurants, consulting firms, service providers, and import/export operations—are not eligible for BOI promotion. However, they operate successfully and legally every day through other well-established structures.
These legitimate options, which we will detail in the following sections, include:
Forming a legitimate Thai Limited Company (the 51/49 structure) with a bona fide Thai partner.
Applying for a Foreign Business License (FBL) for specific activities.
Utilizing special treaties, such as the U.S. Treaty of Amity for American citizens.
Thailand Entry Options
| Route | Best for | Foreign ownership | License/Exemption | Visas & Work Permits | Typical timeline | Pros | Considerations |
|---|---|---|---|---|---|---|---|
| BOI Company | Tech, manufacturing, R&D, promoted services | Up to 100% | BOI Promotion | BOI-facilitated | ~8–16 weeks (varies by activity) | Tax & non-tax incentives; faster immigration; bankable | Eligibility & post-approval conditions apply |
| FBL (Foreign Business License) | Restricted service businesses selling into TH market | Up to 100% (if granted) | FBL under FBA | Standard (ratios may apply) | ~10–16 weeks | Allows operation in restricted areas | Case-by-case discretion; compliance duties |
| Treaty of Amity (U.S.) | U.S. majority-owned service businesses | Up to 100% (exceptions apply) | Foreign Business Certificate | Standard/streamlined | ~4–10 weeks | National treatment for most services | Ownership chain proof; sector exceptions |
| Representative Office | Pre-sales support, QA, sourcing (no revenue) | 100% | Rep Office notification | Limited; tied to RO | ~4–8 weeks | Low tax exposure; test market | No income; limited scope |
| Branch Office | Delivering foreign HQ services in TH | 100% | Branch registration + license | Standard | ~8–14 weeks | Direct control by HQ | Taxable presence; compliance load |
Note: Timelines are indicative; exact durations depend on activity, documentation quality, and examiner review.
The Ultimate Solution: 100% Foreign Ownership with BOI Promotion
For many foreign investors, Thailand's Board of Investment (BOI) is the single most powerful tool for establishing a successful and secure business. It is the government's primary mechanism for attracting high-value investment and is the key to bypassing many of the standard restrictions of the Foreign Business Act.
What is the Board of Investment (BOI)?
In practice, the BOI is a government program that grants a wide range of tax and non-tax incentives to businesses whose activities align with Thailand's national development goals.
Legally, the BOI is a state agency operating under the Investment Promotion Act B.E. 2520 (1977). It has the authority to issue a "Promotion Certificate" to an approved company. This certificate grants specific legal rights and privileges, including the right to 100% foreign ownership within the scope of the promoted activity.
This is not a niche program. Investor confidence in Thailand is at a peak. In just the first nine months of 2025, the BOI approved applications for over 2,400 projects, demonstrating continued momentum and a high level of trust from the global investment community.
Key Benefits of BOI Promotion
While the specific incentives depend on the business activity and its merits, the key benefits of a BOI promotion are unmatched:
100% Foreign Ownership: The most significant advantage. A BOI-promoted company can be 100% foreign-owned, even in business sectors normally restricted by the Foreign Business Act.
Corporate Tax Holidays: A complete exemption from corporate income tax for a period of up to 13 years, depending on the industry and its qualifications.
Import Duty Exemptions: Significant cost savings, including exemptions or reductions on import duties for machinery, raw materials, and other items used in the promoted activity.
Permission to Own Land: A BOI-promoted company can be granted the right to own land for its operations, a privilege normally forbidden to foreign-majority companies.
Facilitated Visas & Work Permits: The BOI provides a streamlined, one-stop service for obtaining visas and work permits for foreign experts, technicians, and their families, often with reduced staffing-ratio requirements.
Streamlined Permits: The BOI can help coordinate and expedite various permits and licenses required from other government agencies.
Who is Eligible?
BOI promotion is specifically designed to attract businesses that bring innovation, technology, and high-value services to Thailand. Key promoted sectors include:
Digital Services: AI, Data Centers, Cloud Services, and Software Development
Advanced Manufacturing: Electric Vehicles (EVs) and their supply chain, electronics, and robotics
Medical & Healthcare: Medical device manufacturing and advanced wellness tourism
Green & Bio-Industries: Renewable energy, waste treatment, and advanced agriculture
Research & Development (R&D)
The Application Process: A Summary
While the benefits are substantial, the application is a detailed legal and business undertaking. A typical promotion is secured through the following steps:
Eligibility & Structuring: We first analyze your business plan to confirm it aligns with a promoted activity and advise on the optimal corporate structure.
Application Dossier: We prepare and submit a comprehensive application, which includes your business plan, financial models, technology descriptions, and human resource plans.
BOI Hearing: We prepare you for the interview and Q&A session with BOI officials, where you will present the merits of your project.
Approval & Certificate: Upon approval, the BOI issues a Promotion Certificate outlining your specific rights and conditions.
Implementation & Compliance: We assist with the company setup and ensure you meet all ongoing compliance requirements (e.g., milestone reporting) to maintain your promoted status.
Legal Unit’s Services
Navigating the BOI process requires precise legal and business planning. Our service is designed to manage the entire lifecycle of your application, from strategy to compliance. Our deliverables include:
Initial Eligibility Assessment & Memo
Complete Application Pack & Business Plan Review
Interview Coaching & Representation
Post-Approval Implementation Checklist
Long-Term Compliance Calendar & Support
The Foreign Business License (FBL): The Path for Non-BOI Businesses
What if your business—such as consulting, a restaurant, or a retail operation—is not eligible for BOI promotion, but you still require majority foreign ownership?
The primary legal pathway in this scenario is the Foreign Business License (FBL).
This is the official permit issued by the Department of Business Development (DBD) that allows a foreign-majority-owned company to engage in activities restricted under List 3 of the Foreign Business Act.
However, unlike an automatic registration, the FBL is a discretionary license that must be applied for and approved by a government committee.
How to Qualify: What Examiners Look For
Approval for an FBL is not guaranteed. The committee evaluates applications based on a "net benefit" to Thailand. Your application must provide a compelling case demonstrating:
Economic & Social Contribution: A clear plan for job creation, contribution to the local economy, and other positive impacts.
Technology Transfer & Innovation: The ability to transfer valuable technology, specialized skills, or new management techniques to Thai employees.
Capitalization & Financials: A detailed, realistic business plan and proof of sufficient capitalization (minimum THB 3 million for most List 3 businesses).
Necessity & Capability: A strong justification for why a foreign-owned company is necessary to perform this activity, backed by your company's proven experience.
Public Interest: Evidence that your business will not negatively impact public order, consumer safety, or existing local enterprises in a protected field.
The Process & Realistic Timeline
Obtaining an FBL is a detailed, multi-step process.
Pre-Assessment: We provide a frank analysis of your eligibility and the likelihood of success before you commit.
Application Dossier: We prepare the comprehensive application, business plan, and all required supporting documents.
Submission & Committee Review: The application is submitted to the DBD and forwarded to the Foreign Business Committee for consideration.
Clarifications: We manage all requests for additional information or clarification from the officials.
Decision & Issuance: Upon approval, the license is issued, and your business can legally operate.
A note on timing: While the law specifies a 60-day consideration period for the committee, the entire end-to-end process is longer. Based on recent data, applicants should plan for a total timeline of 3 to 6 months from submission to a final decision.
Transparent Pricing & Engagement Models
We believe in clear, transparent, and fair pricing. Because every business has unique needs, our fees are tailored to your specific situation and complexity.
After our initial consultation, we will provide you with a detailed proposal for the services you require.
Below are our most common service packages.
Starter Incorporation Pack
Our foundational package is designed to get your business legally established and operational as quickly and efficiently as possible.
Company Registration (Thai Limited Company)
VAT & Corporate Tax Registration
Assistance with Opening a Corporate Bank Account
Initial Guidance on Work Permit & Visa Requirements
BOI Full-Stack Application
A comprehensive, end-to-end service that manages the entire Board of Investment promotion process, from initial strategy to final implementation.
Eligibility: In-depth assessment of your business plan to confirm eligibility and identify the best incentives.
Application: Preparation of the complete application dossier, business plan, and financial projections.
Approval: Management of all communications and the official hearing with BOI officials.
Implementation: Assistance with post-approval company setup and meeting all BOI conditions.
Foreign Business License (FBL) / Treaty of Amity Application
A specialized service focused on securing 100% foreign ownership for businesses that do not qualify for BOI.
Strategy: Deep-dive analysis of your business to build the strongest possible legal case for the committee.
Filing: Meticulous preparation and submission of the complex legal application.
Decision: Proactive management of all government communications and requests for information until a final decision is rendered.
Monthly Legal / Compliance Retainer
Our "peace of mind" package ensures your business remains 100% compliant with all local regulations, allowing you to focus on growth. This service is governed by a clear Service Level Agreement (SLA).
Monthly Accounting & Bookkeeping
Tax Filings (VAT, Withholding Tax, etc.)
Payroll & Social Security Management
Corporate Secretarial Services (e.g., preparing for Annual General Meetings)
Get Your Custom Quote
To receive a detailed proposal for any of these services, please contact us to schedule a free session, no-obligation consultation. We will be happy to learn about your business and tailor a solution for you.