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How many shareholders does a Thai limited company need?
Answered by the corporate team at NYC Visa & Translation
Since 7 February 2023 the Civil and Commercial Code Amendment Act (No. 23) B.E. 2565 has reduced the minimum number of promoters and shareholders of a private limited company from three to two, amending section 1097. Promoters must be natural persons and each must subscribe for at least one share. A public limited company still requires at least fifteen promoters under the Public Limited Companies Act B.E. 2535. There is no residency requirement for shareholders, but foreign shareholding above 49 percent brings the company within the Foreign Business Act. Ask our Thai corporate team to review your structure by phone, LINE or email before you file.
Based on the Civil and Commercial Code, the Foreign Business Act B.E. 2542, the Investment Promotion Act B.E. 2520 and related legislation as at August 2026. General information only, not advice on a specific matter — verify with dbd.go.th and boi.go.th before acting.
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Official sources
The information on this page follows the official sources below. Always check the latest version before you file.
- Department of Consular Affairs — document legalisation— Ministry of Foreign Affairs
- Immigration Bureau — visas, 90-day reporting, TM.30— Immigration Bureau
- Department of Provincial Administration — civil & family registration— Department of Provincial Administration
- Lawyers Council of Thailand — Notarial Services Attorneys— Lawyers Council of Thailand
- Office of the Council of State — Thai law database— Office of the Council of State
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