Quick answer — Thai company limited at a glance. Under the Foreign Business Act, foreigners can generally hold no more than 49% of a Thai company in restricted sectors, which include most services, unless they obtain Board of Investment (BOI) promotion, a Foreign Business License, or protection under the US–Thailand Treaty of Amity. Corporate tax is 20%, with lower rates for small companies. Since 2024, Thai tax residents are taxed on foreign income when it is brought into Thailand.
Thailand is one of the world's most popular bases for location-independent professionals, with Bangkok, Chiang Mai and the islands attracting remote workers year-round. New visa options — the Long-Term Resident (LTR) visa and the Destination Thailand Visa (DTV) — have made long stays easier than ever.
Running a Thai company is a different matter. The Foreign Business Act protects many sectors, including most service businesses, by limiting foreign ownership to 49%. Using Thai nominee shareholders to get around this is illegal. Legitimate routes to majority foreign ownership exist — BOI promotion, a Foreign Business License, or the US Treaty of Amity for Americans — but they come with capital, activity and approval requirements.
A Thai company is usually unnecessary for remote workers on the DTV or LTR visa who serve foreign clients through a company elsewhere. It is not designed for locally employed expats or retirees.
Comparing Asian options? See our guide to company setup in Asia for foreigners.
For a regional option with fewer ownership limits, compare Sdn Bhd foreign ownership rules. For Bali, see PT PMA setup in Indonesia.
Using Thai nationals as nominal shareholders to hold the majority on behalf of a foreigner breaches the Foreign Business Act and can lead to fines and imprisonment. Banks and authorities check the source of Thai shareholders' investment.
The DTV is designed for remote workers employed by or contracting with foreign businesses, and does not allow working for Thai companies. To work in your own Thai company, you need an appropriate visa and a work permit, usually requiring registered capital per foreign employee and Thai staff ratios. BOI companies and LTR visa holders benefit from easier rules.
You become Thai tax resident after 180 days in Thailand in a calendar year. Since 2024, residents are taxed on foreign income earned from 2024 when it is brought into Thailand, subject to tax treaties and exemptions. Some LTR visa categories exempt foreign income from Thai tax.
Amounts are indicative.
BOI-promoted companies may benefit from corporate tax exemptions for several years, which can change this picture substantially.
Thai banks open corporate accounts once the company is registered, usually with directors present in person, company documents in Thai and proof of the shareholders' investment.
The Thailand Business Bank Comparison Guide compares the main banks for foreign-owned companies — get it when you start your Thai setup with Heavnn.
Only through specific routes: BOI promotion, a Foreign Business License, or the US–Thailand Treaty of Amity for Americans. Otherwise, foreigners are generally limited to 49% in restricted sectors.
No. Using Thai nationals to hold shares on behalf of a foreigner breaches the Foreign Business Act.
The DTV is designed for remote work for foreign employers or clients. Working in your own Thai company requires an appropriate visa and a work permit.
Since 2024, Thai tax residents are taxed on foreign income earned from 2024 when it is brought into Thailand, subject to treaties and some exemptions, including for certain LTR visa holders.
The standard rate is 20%, with reduced rates on the first slices of profit for qualifying small companies.
In Thailand, ownership and remittance rules come before company tax. Heavnn checks both for your situation.
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This guide is general information, not tax or legal advice. Rates and fees are indicative as of October 2026.
