Choose Your Business Structure
Your first decision is what legal form your business takes, because it shapes everything that follows.
Common options include:
- Sole proprietorship, simplest, generally for Thai nationals.
- Private limited company, the most common choice for SMEs and the usual route for foreign-involved businesses, with shareholders and directors.
- Partnership, for two or more owners sharing the business.
Foreign ownership is the big consideration. Under the Foreign Business Act, many activities require Thai majority ownership unless you qualify for an exemption or promotion. This is exactly the kind of point where a short consultation with a local advisor saves you from an expensive wrong turn.
Register Your Company
Once you've chosen a structure, you register with the Department of Business Development (DBD), part of the Ministry of Commerce. For a private limited company, the typical sequence is:
- Reserve your company name.
- File the memorandum of association.
- Hold a statutory meeting and register the company.
- Obtain your company registration and tax ID.
- Register for VAT if your turnover requires it or you choose to.
Many founders use a local accounting or law firm to handle this. It's affordable relative to the time and mistakes it saves, and it gets the details right the first time.
Understand BOI Promotion
If your business is in a targeted industry, the Board of Investment (BOI) may offer promotion, and it's worth checking early because the benefits are significant.
BOI promotion can include perks like allowing greater or full foreign ownership in promoted activities, tax incentives, and easier visas and work permits for foreign staff. It's especially relevant for technology, manufacturing, and certain service businesses. Not every business qualifies, and the application takes effort, but if you're a foreign founder, finding out whether you're eligible should be near the top of your list, because it can change your whole ownership structure.
Open a Business Bank Account
You'll need a Thai business bank account to operate properly. Requirements vary by bank, but generally you'll bring your company registration documents, tax ID, director identification, and sometimes proof of address. For foreign directors, expect additional documentation and, in some cases, a work permit.
While you're setting up payments, get PromptPay linked to your business account. It's how a huge share of Thai customers prefer to pay, instantly from their phones, and accepting it removes friction from your very first sale. Pair it with clear pricing and you've made it effortless for customers to buy.
Sort Out Visas, Permits, and Tax
If you're a foreign founder, you'll likely need the right visa and a work permit to run your business legally, and these are tied to your company setup, which is another reason to plan the structure carefully from the start.
On tax, register for corporate income tax, and for VAT if applicable. Thailand expects ongoing bookkeeping and filings, so line up an accountant early rather than scrambling at year-end. Good records from day one make tax season calm instead of chaotic. This is administrative, not exciting, but getting it right protects everything you build.
Get Your Business Online from Day One
Registration makes your business legal. An online presence makes it findable, and in Thailand customers search and message before they buy. Don't treat your website as a "later" task. It's part of opening for business.
At minimum, you want a clear website with what you offer, your location and hours, and easy ways to contact and pay you, including LINE and PromptPay. You'll also want your customer enquiries organized from the start so no early lead gets lost while you're busy with setup.
This is the fast part of the whole process. Where registration takes weeks, getting online can take an afternoon. Describing your new business to a free-tier builder like Krubly generates a website together with a connected CRM, so the moment you're registered you can also be findable, contactable, and ready to capture customers, without hiring a developer or wiring up separate tools.
A Realistic First-Steps Checklist
- Decide your structure and check foreign-ownership rules.
- Ask a local advisor whether BOI promotion fits you.
- Register your company with the DBD and get your tax ID.
- Open a business bank account and link PromptPay.
- Sort visas, work permits, and tax registration as needed.
- Get a website and customer system live so you're ready for your first sale.
Work through these in order and the path from idea to open is far less intimidating than it first appears. Just remember this is a practical overview, not legal advice, so confirm the details that apply to your specific situation with a qualified professional before signing anything.