How to Start a Business in Thailand as an Indian

Start with the activity, not the company

The single most common mistake Indian founders make is incorporating first and asking about permissions later. In Thailand the activity determines everything: whether foreigners may hold a majority, whether a licence is needed, whether BOI promotion is possible and what your work permit position looks like.

Write down exactly what the business will do in Thailand — manufacture, import and distribute, provide a service, operate a hotel, run a restaurant — and treat that description as the input to every later decision.

Understand the foreign ownership position

Thailand's Foreign Business Act restricts foreign participation in a long list of activities, mostly service and trading activities. Manufacturing is generally more open. A company is classed as foreign by shareholding, so a 51% Thai-held company is treated as Thai for these purposes.

If you need foreign majority in a restricted activity, the lawful routes are BOI promotion, a Foreign Business Licence or Certificate, or a treaty-based structure if your nationality qualifies. Using Thai nominee shareholders to fake local ownership is illegal and will eventually destroy the value of the business.

• Unrestricted activity — a standard Thai company may be enough
• Restricted activity, foreign control needed — BOI or a licence route
• Genuine Thai partner with real capital and role — a joint venture

Choose a structure

Most operating businesses use a Thai private limited company. It is well understood, can hold licences, can employ staff and can be sold. Branch and representative office structures exist but are narrower in what they may do.

• Thai limited company — the default operating vehicle
• BOI-promoted company — where foreign majority and incentives matter
• Branch office — limited scope, requires licence for restricted activity
• Representative office — non-trading, cannot earn revenue in Thailand

The setup sequence

The order below reflects how projects actually progress. Steps three to six are where local professional help pays for itself.

• Define activity, ownership requirement and location
• Reserve a company name with the DBD
• Prepare the memorandum, shareholder structure and capital plan
• Register the company and obtain the tax ID and VAT registration if applicable
• Open a corporate bank account (expect in-person meetings and documentation)
• Apply for activity licences — food, hotel, alcohol, import, factory, tourism
• Register for social security and arrange work permits and visas

Capital, banking and work permits

Registered capital is not just a formality. It affects work permit entitlement, licence applications and credibility with banks and landlords. Thai employment ratios also apply to the standard work permit route, which surprises founders planning to run a company with only foreign staff.

Corporate bank account opening has become slower and more documentation-heavy. Budget for it in your timeline and expect the bank to ask about the business model, customers and source of funds.

Realistic timelines and costs

A straightforward Thai company can be registered in a matter of weeks. Licensed activities, BOI applications and hotel projects run in months, not weeks. Costs vary widely by adviser and complexity, so obtain two or three written quotes with a clear scope rather than a single verbal estimate.

A local partner changes the odds

Almost every successful India-to-Thailand story we see includes a credible local element: a Thai partner, a Thai general manager, a distributor, or a landlord who genuinely wants the business to work. Sourcing that relationship before you spend on structure is usually the highest-return step available.