The short answer

To open a business bank account in Thailand, your company will usually need its company registration certificate and certified shareholder list (both recent — often within three months), a board resolution authorising the account and naming signatories, the company's tax ID, its Memorandum and Articles, and identification for directors, signatories and major shareholders. Directors are usually expected to attend in person, or appoint someone with a power of attorney, and foreign directors may be asked for a work permit. Approval typically takes about a week. Choose a bank that serves foreign-owned businesses well, open an FCD account if you deal in foreign currency, set up online banking with sensible approval controls — and add a specialist FX partner such as Vita Capital to get better rates on the money you move abroad.

Why a banking relationship matters

An account lets you pay and get paid. A relationship does much more. A relationship manager who knows your business can resolve payment queries and document requests quickly, and overdrafts, loans and trade finance are far easier to arrange with a bank that knows your history. You gain access to trade facilities such as letters of credit and guarantees for importing and exporting, and to foreign currency accounts for holding and paying in dollars, euros and other currencies. Compliance becomes smoother too: when your bank understands where your money comes from and where it goes, larger international payments go through with fewer questions. And a solid banking relationship gives you credibility with suppliers, landlords and partners in Thailand.

The foundation of all of this is opening your account properly, with complete documents and a clear explanation of what your business does.

The documents banks usually ask for

A typical list for a Thai limited company. Each bank sets its own requirements, so always ask for the bank's current checklist.

Based on ttb's published requirements for a corporate current account and Emerhub's guide (May 2025). Requirements vary by bank, branch and account type.

Directors, signatories and shareholders

Directors attending in person

Banks usually expect the company's authorised directors to be present in Thailand to open the account, so they can verify identities and take specimen signatures. If a director can't attend, a representative can often act under a power of attorney — ask the bank in advance what it accepts.

Choosing your signatories

The board resolution names who can operate the account and how. The simplest arrangement is a single signature, where any one named director can sign — easy, but with less control. Joint signatures, where two signatories must approve, are common for larger payments, and many companies combine the two with a threshold: one signature below a set amount, two above it.

Major shareholders

Banks need to know who ultimately owns the company. Expect to provide identification for shareholders above a threshold — ttb asks for shareholders holding at least 15%, and 25% is common elsewhere — and, where a shareholder is another company, details of who owns that company.

Work permits

Foreign directors who work in Thailand may be asked for a work permit. A foreign director who sits on the board but doesn't work in Thailand may not need one for the account — ask the bank how it treats your situation.

Opening the account, step by step

1. Choose your bank and branch — ideally one with experience of foreign-owned businesses and a business banking team.
2. Ask for the bank's checklist — requirements vary, so get the current list for the account you want.
3. Prepare your documents — order fresh certified copies of the company certificate and shareholder list.
4. Pass the board resolution — authorising the account and naming signatories and limits.
5. Book an appointment — and arrange for directors to attend, or prepare a power of attorney.
6. Explain your business — what you do, where your money comes from and goes, and expected volumes.
7. Make the opening deposit — from ฿500 at ttb, more for some accounts.
8. Set up online banking — with user roles and approval limits.

With complete documents, approval typically takes about a week.

Choosing the right bank

Thailand's major banks all offer business accounts, and the right choice depends on what your business needs. Start by asking whether the bank is comfortable serving foreign-owned companies — not every bank or branch is — and whether it has an English-speaking business team. Look closely at the online banking, including bulk payments, payroll, user roles and approval limits, and check that you can open FCD accounts in the currencies you use. Ask about international payment fees (Krungsri, for example, charges 0.25%, up to ฿500, to receive and ฿350 to send online) and whether the bank offers trade finance such as letters of credit, guarantees and import or export finance. Branches abroad can help — Bangkok Bank has a London branch, for example — and it's worth asking whether you'll have a relationship manager, and at what level of business.

Many businesses use two banks — one main operating bank and a second for resilience or particular services.

Where to start

A specialist FX partner alongside your Thai bank — and the right cover for your business.

Which accounts to open

Current account

The everyday operating account for payments in and out, usually with cheque facilities and the option of an overdraft. ttb's corporate current account opens from ฿500.

Savings account

For holding reserves and earning a little interest, with easy transfers to and from the current account.

Foreign currency deposit (FCD) account

For holding US dollars, euros, yen and other currencies — essential if you receive foreign income or pay foreign suppliers. You can choose when to convert, or pay directly in the same currency.

Payroll and tax payments

Most banks offer payroll services and online tax and social security payments, which save a great deal of time once set up.

Our guide to international business payments to Thailand explains receiving fees, FCD accounts and the FET form in detail.

Adding a specialist FX partner

Your Thai bank is essential for local banking. But for converting currency — receiving from abroad, paying overseas suppliers, sending dividends or funding from a parent — a specialist FX provider can often offer a much better rate, plus tools a bank may not.

A common set-up for businesses in Thailand uses three parts: a Thai bank for local payments, payroll, tax and baht receipts; an FCD account for holding the foreign currency you use; and a specialist FX partner for converting larger or regular amounts at competitive rates, fixing rates with forwards and using escrow for trade deals.

Vita Capital, our FX and escrow partner, offers named collection and settlement accounts, so customers abroad can pay you locally in their currency; forward contracts and limit orders to protect your margins; and corporate escrow for new suppliers and business deals — with a dedicated relationship manager and market insights and alerts.

Business banking costs to budget for

Examples of the charges a Thai business will meet, using Krungsri's published tariff where available.

Krungsri International Payment tariff effective 1 July 2026; ttb corporate current account. Other banks' charges differ — ask for the full tariff.

Credit and trade finance

One of the biggest benefits of a strong banking relationship is access to finance as your business grows. Thai banks offer overdrafts for flexible working capital on your current account, and term loans for equipment, premises or expansion. For trade, a letter of credit has the bank guarantee payment to your overseas supplier once agreed documents are presented, which gives both sides confidence, while bank guarantees cover leases, tenders and performance obligations. Import and export finance funds the gap between paying your suppliers and being paid by your customers.

Banks lend most readily to businesses they know: a track record of steady account activity, clear accounts and regular contact with your relationship manager all help. Start the conversation early, before you need the facility.

Funding from a parent company or investors

Many foreign-owned businesses in Thailand are funded from abroad — by a parent company, the founders or outside investors — and getting the banking right from the start makes everything smoother later. Document the purpose of each transfer, whether share capital, a loan or intercompany funding, with a clear payment reference, and keep the FET form your bank issues for foreign currency payments of US$50,000 or more converted in Thailand. Put loans in writing, with the amount, interest and repayment terms. Decide in advance whether to convert on arrival or hold the money in an FCD account, and on large transfers compare the rate: a specialist FX provider can save a meaningful amount.

When the time comes to pay dividends, repay a loan or return capital, the paperwork you kept on the way in will make the way out far simpler.

Setting up online banking safely

Corporate online banking saves hours every week — bulk payments, payroll, tax payments and statements, all from your desk — but set it up with control in mind. Separate the people who prepare payments from those who approve them, and require two approvers above a set amount. Keep a list of trusted payees, with any change checked by phone, and use dedicated, up-to-date devices for banking. Turn on two-factor authentication for every user, and use a VPN whenever someone accesses the bank on public or hotel Wi-Fi.

What the bank will want to know

Beyond the documents, the bank will want to understand your business, and clear answers make the meeting quick and build trust from day one. Be ready to explain what your business does — your products or services and who your customers are — and where your money comes from, whether customers in Thailand or abroad, a parent company or investors. Explain where it goes, from staff and rent to local and overseas suppliers, roughly how much will flow through the account each month, and which countries you'll send money to or receive it from. The bank will also ask who owns and controls the company, including any parent companies.

A one-page business summary, your website and a couple of sample contracts or invoices answer most of these questions at once.

Your first 90 days

In the first week, activate online banking, set user roles and approval limits, and register your trusted payees. Over the next three weeks, set up payroll, tax and social security payments and share your account details with customers and suppliers. In the second month, open an FCD account if you have foreign income or costs, and agree an FX partner for larger conversions. By the third month, meet your relationship manager to review how things are going and talk about future needs such as credit or trade finance.

Keeping the relationship strong

Keeping the relationship healthy is mostly a matter of communication. Tell the bank promptly about any change in directors, shareholders, signatories or address, and explain unusual payments in advance — a large incoming investment or an unusual supplier payment goes through more smoothly if your bank is expecting it. Use clear payment references such as invoice numbers, loan references and purposes, and keep the FET forms and credit advices your bank issues for payments of US$50,000 or more. Be ready with supporting documents for larger outward payments — Krungsri, for example, asks for them on transfers of US$200,000 or more — and meet your relationship manager at least once a year to share your plans.

Tips for foreign-owned businesses

For a foreign-owned company, the most important step is to get your corporate structure clear, because banks will ask who ultimately owns and controls the business. Bring translations of any documents from a foreign parent company, and allow time for checks, since ownership through foreign companies can take longer to verify. Main branches and business centres are usually more experienced with foreign-owned companies. Document your capital injection clearly, with its purpose stated, so the paperwork supports dividends or capital returns later. It's also worth knowing that since January 2026, Thai residents' foreign-sourced funds of under US$10 million no longer have to be brought back to Thailand. Your lawyer or accountant can help with documents and structure.

Common problems and how to avoid them

Documents too old

Company certificates and shareholder lists usually need to be recent — often within three months. Order fresh certified copies just before your appointment.

Missing signatory authority

If the board resolution doesn't clearly name signatories and limits, the bank can't open the account. Use the bank's own template if it has one.

Directors not available

Plan travel in advance, or ask the bank whether a power of attorney is acceptable.

Unclear business activity

Banks need to understand what your business does. Bring a short description, website, customer contracts or invoices.

Delays with international payments

Make sure your company name, account number and SWIFT code are shown exactly on every invoice.

Three real-world examples

These are illustrations, not real businesses.

A new Bangkok consultancy

Two foreign founders ordered fresh certified copies of their company certificate and shareholder list, passed a board resolution requiring both signatures above ฿200,000, and opened a current account and a US dollar FCD account at a business centre branch. The account was approved within a week.

A Phuket hotel group

The group banks locally for payroll and suppliers, and uses Vita Capital for converting euro and other foreign-currency deposits from tour operators, with forward contracts covering the high season.

A Chiang Mai exporter

The company keeps its main account with one Thai bank and a second account with another for trade finance, and briefs both relationship managers each year on its export plans.

Your account-opening checklist

• Bank and branch chosen; checklist requested.
• Company certificate certified within 3 months.
• Shareholder list (Bor. Or. Jor. 5) certified within 3 months.
• Memorandum and Articles of Association.
• Board resolution naming signatories and limits.
• Company tax ID.
• IDs for directors, signatories and major shareholders.
• Work permits if requested.
• Directors' attendance or power of attorney arranged.
• Opening deposit ready.
• FCD account and online banking requested.
• Specialist FX partner lined up.

Questions to ask the bank

Before you apply, ask the bank for its current document checklist for the account, how recent certified documents must be, and whether all directors must attend in person or a power of attorney is accepted. Check whether foreign directors need a work permit for the account, what the minimum deposit and monthly fee are, and what international payments cost. Finally, ask whether you can open FCD accounts and in which currencies, and what online banking controls are available.

How we researched this guide

This guide draws on ttb's published requirements for a corporate current account; Emerhub's guide to opening a business bank account in Thailand (May 2025); Krungsri's International Payment tariff (effective 1 July 2026) and SWIFT terms; ThaiLawOnline on the FET form (2026); Baker McKenzie on the repatriation exemption (February 2026); and Vita Capital's published corporate services. Checked 14 October 2026. Each bank sets its own requirements and they change; always ask for the bank's current checklist. This guide is general information, not legal or financial advice.