What Are the Requirements for Starting a Company in Thailand? How Long Does a BOI Application Take?

Establishing a business and applying for investment promotion privileges in Thailand is a practical concern for many overseas investors. Whether the process is cumbersome, whether timelines are predictable, and whether the eligibility criteria are realistically attainable directly affect how quickly operations can be launched. The following information is compiled based on current policy implementation and common industry practice, aiming for accuracy, specificity, and practical applicability.

Basic Requirements for Registering a Company in Thailand

1. At least one natural person or legal entity must serve as a company director; at least one director must be a Thai national or hold a long-term residence permit.

2. The company must define a clear scope of business activities, which must comply with foreign equity restrictions stipulated under Thailand’s Foreign Business Act.

3. Registered capital must be fully subscribed, with no less than 25% paid up upon company registration.

4. A registered office address located within Thailand is mandatory; a lease agreement and a letter of consent from the property owner must be submitted as supporting documentation.

5. A local legal representative permanently residing in Thailand must be appointed to receive official legal documents and assist with subsequent regulatory compliance.

6. The proposed company name must be pre-approved by the Department of Business Development and must not duplicate an existing business name or contain prohibited terms.

Core Prerequisites for BOI Application

1. The investment project must fall within one of the industries listed in the Board of Investment (BOI)’s promoted sectors-such as manufacturing, agro-processing, software development, healthcare, and green energy.

2. The project must demonstrate technological sophistication, export orientation, regional spillover effects, or resource efficiency. Pure trading activities or real estate development are generally excluded from support.

3. Before submitting a BOI application, foreign-owned companies must have either completed company registration or formally filed their registration application and obtained a company registration number.

4. Required application documents must include a detailed business plan, equipment list, explanation of technology sourcing, projected employment figures, and the proportion of locally sourced materials.

5. For projects involving land acquisition, applicants must clarify land-use compliance. While foreign entities are generally prohibited from owning land outright, BOI approval may grant long-term lease rights or special usage rights.

Realistic Timelines for BOI Approval

1. Under standard review procedures, the statutory processing period is 60 working days from the date of complete submission. In practice, however, most applications take between 90 and 120 calendar days.

2. Projects in priority sectors-such as electric vehicle components, AI applications, or biotechnology-may receive preliminary feedback within 45 working days, provided all documents are complete and meet requirements upon first submission.

3. Requests for supplementary information reset the processing clock. Common reasons for resubmission include: lack of comparative quotations for equipment purchases, absence of a local employee training plan, or failure to submit environmental impact assessments concurrently.

4. Internal BOI coordination with other agencies-such as the Office of Natural Resources and Environmental Policy and Planning (ONEP), the Ministry of Industry’s technical review unit, or the Energy Regulatory Commission (ERC)-typically extends processing time by at least 30 days.

5. After receiving the BOI certificate, additional steps-including tax registration, customs registration, and labor permits-must be completed, usually requiring another two to four weeks.

The above outlines key conditions and timing considerations for company registration and BOI application in Thailand. If you have specific questions or wish to explore further details, we recommend aligning your approach with your industry profile and investment scale, proactively mapping out technical pathways and compliance milestones-and engaging a locally experienced professional firm, where necessary, to support document preparation and progress tracking.