Updated Minimum Capital Provisions for Foreign Companies in Thailand

29 Aug 2019

Thailand’s Ministry of Commerce, to fulfill various treaty obligations and for ease of enforcement, has abolished the previous three ministerial regulations on minimum capital for foreign companies, and issued a single new Ministerial Regulation re: "Minimum Capital and the Period to Bring or Remit the Minimum Capital to Thailand B.E. 2562 (2019)".

The new regulation took effect on 28 August 2019, and sets the timeline for bringing in, or remitting, the minimum capital to Thailand for foreign businesses using privileges under treaties and trade agreements. These currently include the following:

U.S.-Thailand Treaty of Amity and Economic Relations; Australia-Thailand Free Trade Agreement; Japan-Thailand Economic Partnership Agreement; ASEAN Framework Agreement on Services; ASEAN Comprehensive Investment Agreement.

Foreign-owned companies established under privileges granted by any of the above treaties or trade agreements must bring or remit the required minimum capital to Thailand by no later than 29 August 2029. This remittance period requirement also applies to those companies established before 28 August 2019, that have not yet brought or remitted the minimum capital to Thailand.