Business Bank Account

[ELLHNAS]

Hello how easy it is for a Thai to open a bank account under a business name and what type of documents will be required for this? Please kindly help thanks

[Gulfsailor]

Has to be a limited company.

Required are DBD registration, ID from director, minutes from shareholders meeting that allow opening of the account.

[ELLHNAS]

Sorry for my ignorance but what is DBD? And how to go about setting up a ltd? Please give the simplest way. If there is a website or service or agent that can form a simple ltd company for a fee to get the docs please provide. Thank you

[Gulfsailor]

Sorry for my ignorance but what is DBD? And how to go about setting up a ltd? Please give the simplest way. If there is a website or service or agent that can form a simple ltd company for a fee to get the docs please provide. Thank you

http://dbd.go.th/main.php?filename=index

The simplest for a Thai is not a LTD, but a simpler business setup. However I don't think you can open a bank account in a company name with that, only the Thai private name of the business owner.

[ELLHNAS]

Yes i think you mean sole trader...i think it will not work because as i said a bank business account under company name is needed

I did a quick search in google and saw a few company formation websites however the fees are outrageous because these are agents for foreigners to set up ltd

Thais for sure dont pay this...does any anyone know a thai formation company for thais? Please kindly help thanks

Edited March 9, 2016 by ELLHNAS

[Gulfsailor]

The Thai person walk into the DBD office and they'll tell him/her about the process. Not hard to do oneselves with some guidance and the costs are not high. The DBD folk are generally very helpful.

[ELLHNAS]

It looks like you have done it already

Does this has to happen in bkk or DBD has branches in other cities too?

[Gulfsailor]

It looks like you have done it already

Does this has to happen in bkk or DBD has branches in other cities too?

There is a DBD office in every major city countrywide. Compare it to the chamber of commerce in western countries.

[parkerdeano]

Should be very straightforward. I just opened one as a foreign director at an SCB branch in Phrom Phong.