Can a foreigner own 100% of a company in Thailand?

Yes, but only under specific conditions: 1) Obtaining BOI Promotion (for tech/manufacturing), 2) Using the US Treaty of Amity (for US citizens), or 3) Getting a Foreign Business License. Otherwise, foreign ownership is generally capped at 49%.

Do I need a Thai partner to open a business?

For a standard Thai Limited Company operating in service sectors (FBA List 3), legal compliance usually requires 51% Thai shareholding. Nominee shareholders are illegal.

How much capital is required for a Work Permit?

A minimum of 2 Million THB registered capital (fully paid-up) is required for each foreign Work Permit, plus a ratio of 4 Thai employees per foreigner.

2026 Business Guide

Company Registration in Thailand (2026)

Starting a business in Thailand requires navigating the Foreign Business Act (FBA). Whether you need a Thai Limited Company, a BOI Promotion (for 100% ownership), or an Amity Treaty setup (for US citizens), we guide you through the legal maze.

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1. Choose Your Business Structure

A. Thai Limited Company (Standard)

Best for: Local operations, domestic invoicing, and businesses not eligible for BOI.

Key Restriction: Foreign ownership is capped at 49% unless you have a specific license. A Thai partner (51%) is usually required.

TECH & EXPORT

B. BOI Company (100% Foreign)

Best for: Tech startups, software, manufacturing, and export-led businesses.

100% Foreign Ownership allowed
Visa & Work Permit Fast-Track (LTR / Smart)
Corporate Tax Exemption (up to 8 years)

C. US Treaty of Amity

For US Citizens only: Allows 100% American ownership of a Thai company without BOI status.

Requires specific registration with the Ministry of Commerce.

D. Representative Office

For non-revenue generating activities (sourcing, quality control, market research). Cannot invoice Thai clients.

2. The "Foreign Business Act" (FBA)

The FBA restricts foreigners from operating in certain categories (List 1, 2, 3). Most service businesses fall under List 3, meaning a foreigner cannot own more than 49% without a Foreign Business License (FBL) or BOI promotion.

List 1

Strictly prohibited (Media, Farming, Land trading).

List 3 (Common)

Services, Accounting, Engineering, Retail. Requires FBL or BOI.

Solution

Apply for BOI or strict compliance via Thai partnership.

3. Setup Workflow (DBD)

Name Reservation

Check availability with Department of Business Development (DBD).

File MOA

Memorandum of Association (Capital, Shareholders, Address).

Statutory Meeting

Appoint directors and auditor.

Registration & Tax ID

Get Company Affidavit, Tax ID number, and VAT registration (if revenue > 1.8M THB).

4. Visa & Work Permit

The Requirements:

1. Non-Immigrant B Visa: Required to enter Thailand for business.
2. Work Permit: Must be issued after company registration.
3. 4:1 Ratio: You strictly need 4 Thai employees per 1 foreign work permit (unless BOI).
4. 2M THB Capital: Minimum paid-up capital per work permit.

5. Taxes (Overview)

Corporate Income Tax (CIT)

20%

On net profit.

VAT

WARNING: Nominee Shareholders

Do NOT use "Nominee" Thai shareholders (people who hold shares on your behalf but did not invest money) to bypass the 49% foreign limit. This is illegal and strictly audited. Use legitimate structures like BOI or proper partnerships.

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Confused about BOI vs Thai Limited? Not sure about the 4:1 ratio? Let our experts analyze your business model and recommend the safest structure.

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