How to open a bank account in Thailand as foreigner with no work permit
Our service fee for arrange document without support at Bank is Baht 5,000.
++ Immediately get bank account after the company registration is done, without working permit or business visa of director or bank signatory is also can get bank saving account with internet banking.
An essential thing for your company in Thailand is having a bank account. This facilitates your business here and it will save your company a lot in costs if you have to transfer from an overseas account. From our 10 years of experience in setting up foreign companies in Thailand, we found that it can be difficult to find the right bank for your business and to open a bank account there. That’s why we put our knowledge on this page. Please note that these are our own experiences and not the official rules.
In this text you will find useful tips to open a company bank account in Thailand. If you would like us to assist you in the process, we would be happy to help. Please scroll to the bottom of the page to see what we can offer you in order to make sure that opening a bank account is no problem at all.
A common problem is that the local banks request a work permit from the foreign directors. If they do not have one, we found that there are still some ways to open a bank account. Not every bank has the same conditions to open an account. One thing they all do have in common is that they want personal contact with their client. This means you cannot send someone to open a bank account on your behalf, you should show up in person.
Company account at a local bank
For the following two banks it is possible to open your company’s account without a work permit. The documents needed are the following:
Note: The evidence for opening of the Bank Account must be original only.
- Affidavit (updated within a month)
- Memorandum of Association
- Shareholder List
- Tax ID Card of the Company
- VAT Certificate
- Certificate (Commercial Registration)
- Minute of Meeting that mentions to open account with SCB Co., Plc. and Condition of the Signing without “affix the company’s officially seal”
- National ID Card and House Registration of the Directors who have the power to sign.
- Company’ officially Seal
- Copies of House Registration and National ID Card of person who holds 20% share in Memorandum of Association.
Note To open the Bank Account, the Bank requests the up to dated affidavit which valid within 1 month (30 days) and also please bring its original for bank officer to check.
Minutes of the meeting example
(Translation)
Minutes of Meeting time1/2554
of………………………………
Meeting on……………………at…………………
Meeting Place…………………………………….
Participants completed a quorum by……, president of the meeting, opening the meeting with the agenda as following.
Agenda 1 The opening of Bank Account
The President has noticed to the meeting that for the benefit of running company., the Company received action to open the bank account with
(Name Bank) for both S/A and C/A on behalf of the company, with conditions of signing, ………………………… ………. concerted sign with……………person.
Meeting’s Conclusions Approval to Proceed
Meeting closed at………………..
……………………………
Meeting’ President
(……………………….)
…………………………….
Minute of Meeting’s registered
(…..……………………)
Panwa can help you
We can assist you in setting up your company’s bank account in Thailand. In order to open an account, several documents are required. We can help you arrange all the documents you will need and guide you through the entire process. Our staff has over 10 years’ experience in setting up foreign companies in Thailand. We can accompany you to the bank to help in the communication process since not all bank employees are capable of speaking English. And please feel free if you/ director or bank signatory don’t have working permit, we can find the way to solve this, and your company will have internet banking by using TOKEN device and you can access your bank account from else way (world-wide login).
Q&A: Corporate Bank Account – How to open
Q1: Is there any deposit amount or any capital investment?Panwa: To open bank account the minimum required deposit is Baht 500 for saving account. |
Q2: How long will it take to open a bank account?Panwa: Immediately after the company is already registered. |
Q3: Is it possible to do overseas transfer from the internet banking?Panwa: No, it’s not possible, you must come and sign personally at bank. |