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Southeast Asian hub with BOI investment incentives
Region
ASIA PACIFIC
Corporate Tax
20%
Setup Time
2 weeks
Currency
THB
Thailand, Southeast Asia's second-largest economy, combines tourism leadership with manufacturing development. The country's company registration framework supports business setup in an accessible Asian environment.
With a population of 70 million, Thailand offers varied living from bustling Bangkok to beach destinations. Thai is official, with English in tourism and business. The tropical climate is warm year-round.
Healthcare is good with excellent private facilities supporting medical tourism. Safety is generally acceptable. The cost of living is moderate, lower in regional areas.
The food, temples, and welcoming culture attract millions of visitors and residents.
Corporate tax rate stands at 20%. Personal income tax reaches 35%. VAT applies at 7%.
The Thai baht is managed. The economy features tourism, automotive manufacturing, and electronics. The Board of Investment promotes foreign investment with incentives.
Company registration through the Department of Business Development is established. Limited companies traditionally required Thai majority ownership, though various structures allow foreign control. The BOI route permits full foreign ownership in promoted sectors.
Company formation takes approximately 2-4 weeks. Minimum capital requirements apply to foreign-controlled companies. Annual compliance includes audited accounts.
The Securities and Exchange Commission Thailand licenses digital asset exchanges and related businesses. The regulatory framework is developed with clear compliance pathways.
Gambling is largely illegal in Thailand, with limited exceptions for state lottery. No commercial gambling licensing exists, though reform discussions emerge periodically.
Foreign ownership restrictions require careful structuring. Thai language is helpful for market engagement. Political instability occurs periodically.
Banking access is available through Thai and international banks. Professional services are well-developed.
Thailand suits tourism-related operations, manufacturing, and regional headquarters for their business setup.
Local: Ltd
Local: PCL
Local: ROH/Branch
| Corporate Tax Rate | 20% |
| Personal Income Tax Rate | 35% |
| VAT / Sales Tax | 7% |
| Capital Gains Tax | 35% |
| Withholding Tax | 10% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | MEDIUM |
| Currency Controls | SOME |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $50,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF Travel Rule - implementation required by 2026 for licensed DABOs |
| Business Plan Required | Comprehensive business plan with system readiness demonstration, technology infrastructure details, and risk management framework |
| Personnel Required | Directors, executives, and major shareholders must meet SEC fit and proper requirements; qualified compliance officers and AML officers required |
| Insurance Required | Yes |
| Insurance Details | Adequate insurance or compensation arrangement required to cover client assets against loss due to hacking, fraud, or system failure |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | SEC Thailand maintains public registry of licensed digital asset operators at https://www.sec.or.th |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Securities and Exchange Commission (SEC) and Ministry of Finance (MOF) |
| Licensing Fee | $30,000 |
| Licensing Fee Details | Application fee THB 30,000; License certificate fee varies by category: Digital Asset Exchange THB 5,000,000, Digital Asset Broker THB 2,500,000, Digital Asset Dealer THB 500,000 |
| Permitted Business Models | Digital Asset Exchange, Digital Asset Broker, Digital Asset Dealer, Digital Asset Fund Manager, Digital Asset Advisor, Digital Asset Custodial Wallet Provider |
| Permitted Activities | Trading, brokerage, dealing, fund management, advisory services, custody services |
| Restricted Activities | Using digital assets as means of payment for goods and services is prohibited; offshore operators targeting Thai users must be licensed |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $10,000,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A |
| Business Plan Required | Comprehensive business plan required for integrated entertainment complex including casino and at least 4 other entertainment businesses |
| Personnel Required | Key management personnel with clean criminal records, no involvement in illegal gambling |
| Insurance Required | Yes |
| Insurance Details | Adequate insurance coverage required for integrated resort operations |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | No |
| Registry Public | Yes |
| Registry Access | Proposed Entertainment Complex Regulatory Commission would maintain registry |
| Renewal Period | 30-year license with 5-year reviews |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Proposed Office of the Full-Service Entertainment Regulatory Commission (legislation not yet enacted) |
| Licensing Fee | $4,900,000,000 |
| Licensing Fee Details | Proposed: THB 4.9 billion upfront licensing fee plus THB 1 billion annual fee; 17% gross gaming revenue tax. NOTE: Entertainment Complex Bill was shelved in July 2025 - casinos remain illegal |
| Permitted Business Models | Integrated entertainment complexes only - casinos must be part of larger resort with minimum 4 entertainment businesses |
| Permitted Activities | CURRENTLY PROHIBITED - Gambling is illegal in Thailand except state lottery and licensed horse racing. Draft legislation for integrated casino resorts was abandoned in July 2025. |
| Restricted Activities | All forms of gambling are prohibited except state lottery and licensed horse racing. Online gambling is illegal. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $100,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant - AML/KYC requirements under Anti-Money Laundering Act |
| Business Plan Required | Comprehensive business plan with system readiness demonstration, IT security framework, and risk management procedures |
| Personnel Required | At least one Thai national director residing in Thailand; directors must meet BOT fit and proper requirements |
| Insurance Required | Yes |
| Insurance Details | Adequate insurance coverage for payment services operations |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Bank of Thailand maintains list of licensed payment service providers |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Bank of Thailand (BOT) and Ministry of Finance (MOF) |
| Licensing Fee | $50,000 |
| Licensing Fee Details | Application and licensing fees vary by service type; E-Money Services THB 100 million minimum capital; Payment Facilitator THB 10 million; Electronic Fund Transfer THB 50 million |
| Permitted Business Models | E-Money Issuer, Payment Service Provider, Payment Facilitator, Acquiring Service Provider, Electronic Fund Transfer Service |
| Permitted Activities | Electronic money issuance, payment processing, fund transfers, payment facilitation, acquiring services |
| Restricted Activities | Banking activities (deposit-taking, lending) require separate commercial bank license; foreign exchange business requires FX license |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | Yes |