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Opening Bank Accounts in Thailand. Service offer

Our specialists are ready to assist you with accounts opening in Thai banks for both individuals and legal entities. We provide personalized analysis of the data provided by our clients, help to select the appropriate bank, and compile a list of required documents. We also offer support during the in-person meeting with the bank officer and assist with filling out the bank forms.

Contents

  1. Advantages and Features of Opening an Account in Thai Banks
  2. Fees
  3. Requirements for Documents and Information*
    1. For a legal entity
    2. For an individual (directors / shareholders / beneficial owners)

Advantages and Features of Opening an Account in Thai Banks

Banks open accounts in both the Thai baht (THB) and foreign currencies;

Banks open accounts for companies registered in Thailand and for individuals residing in Thailand;

It is possible to open several accounts at different branches of one bank; one can use banking services at no extra charge at any branch of the bank within the same province; all accounts will be accessible via a single Internet banking login;

The company director is required to visitthe bank for opening a corporate account;

If the company director is a foreigner, he will need to get a work permit to open a bank account; account opening for a company with a non-resident director is allowed in a limited number of banks and branches;

In the case of director change, both the newly appointed director and the outgoing director are required to visit the bank for changing the signatory to the account;

Fee for an incoming transfer from a foreign bank is on average 0.25% of the amount, but not less than THB 200 (~ USD 5) and not more than THB 500 (~ USD 13)*; fee for an outgoing transfer is ~ THB 400 (~ USD 10) for BEN payments and ~ THB 1 150 (~ USD 30) for OUR payments*;

Internet banking in English.

Fees

Services
Fees (USD)
Assistance with opening a personal bank account in Thailand**
1 000
Assistance with opening a corporate bank account in Thailand
2 500

*The fees are indicative and may ultimately differ depending on the bank’s service package chosen by the client.

**In order to open a personal account, it is necessary to provide proof of residency.

Requirements for Documents and Information*

For a legal entity

An extract from the DBD (Department of Business Development, register of companies) including:
  • Certificate of Incorporation;
  • Memorandum and Articles of Association;
  • List of directors and shareholders;

Director’s resolution to open an account and connect Internet banking, appoint an account signatory (the resolution must state the name and the branch of the bank);

Completed Company Profile and, in some cases, a Business Plan;

Completed bank forms for the company and its owners.
NB! If there is a corporate shareholder in the structure, it is necessary to provide all the documents listed above.

For an individual (directors / shareholders / beneficial owners)

Proof of ID (passport);

Proof of address (not older than 3 months);

CV.

*The list is not exhaustive. The bank may request any further documents and information.

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from USD 1 000
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