How to Open a Thai Corporate Bank Account (2025 Complete Guide)

How to Open a Thai Corporate Bank Account (2025 Complete Guide)

Introduction

Opening a Thai corporate bank account is essential when setting up a company—whether it’s a Thai Limited Company, BOI-promoted entity, or foreign branch office. However, foreign-owned businesses in 2025 face stricter requirements, especially regarding visas, director presence, and KYC. At GENTLE LAW IBL, we guide you every step to open your Thai corporate bank account smoothly and legally.

🧩 Why a Thai Corporate Bank Account Is Essential

A Thai corporate bank account is required for:

• Depositing registered capital (used to meet FBL/BOI conditions) 

• Receiving revenue, paying invoices, employees, taxes

• Submitting VAT and e‑tax filings

• Passing statutory audits and showing business legitimacy 

✅ Who Can Open an Account?

• The company Director must be present in Thailand 

• Some banks accept shareholders personally, but signatory presence is essential

• Foreign directors without a work permit may still open accounts at select branches or via POA, especially if BOI‑promoted 

📑 Required Documents

For the Company

• Certificate of Incorporation (DBD) issued within 30 days

• MOA and Articles of Association

• BOJ5 shareholder list

• VAT certificate (if applicable)

• Company stamp/seal

• Any BOI or FBL certificate

For the Director(s)

• Valid passport and Non-B visa (or Smart Visa)

• Work permit (if requested)

• Proof of Thai address (lease, utility bill)

• Thai national ID (if Thai director appointed)

🏦 Steps to Open the Account

1. Choose a Bank & Branch Major foreigner-friendly banks: Bangkok Bank, SCB, KBank, Krungsri, HSBC

2. Compile & Translate Documents Original or notarized Thai versions are typically required

3. Book an Appointment Director signs documents in person (some branches accept POA)

4. Deposit Initial Capital Minimum varies (THB 10,000–50,000); larger accounts may require more

5. Set Up Online Banking Activate e‑tax and payroll via corporate online banking systems

6. Receive Account Details Typically within 1–3 business days

🚫 Common Roadblocks & Their Solutions

Problem	Solution
Bank asks for work permit	Select branch aware of foreign corporate needs; board minutes may help
Director overseas	Use POA and notify bank in advance
Missing Thai address	Provide lease agreement or utility statement
Stricter KYC rules	Banks apply AML/CFT requirements (BOI certification helps)

💡 GENTLE LAW IBL Strategic Tips

• Open account immediately after company registration

• Rely on updated documentation to avoid branch-by-branch variability

• Record all transactions from day one for VAT and audits

• For foreign directors without permits, choose branches with BOI track record

🤝 How GENTLE LAW IBL Supports You

• Liaison with bank officers and appointment scheduling

• Document translation, notarization, embassy legalization

• Alternative arrangements for overseas directors via POA

• Online banking setup and compliance check

• Ongoing support for account audits, KYC renewals

🧾 Final Thoughts

Opening a Thai corporate bank account is more than a formality—it’s the financial backbone of your Thai business. Avoiding errors ensures smooth payroll, tax compliance, and capital flow.

With GENTLE LAW IBL, your account setup is handled seamlessly, in-person or remotely, with no surprises.

📞 Want help opening your Thai corporate bank account? Contact GENTLE LAW IBL today.

👉 Visit gentlelawibl.com to get started.