Opening a corporate bank account in Thailand surprises most foreign business owners. The process is more involved than in many Western countries, requirements vary between banks and sometimes between branches of the same bank, and it takes longer than people expect. This guide covers which banks work, exactly what you need to bring, and what to do when a Thai account alone is not enough.
Why This Is Harder Than You Expect
Thai banks are cautious about foreign-owned companies. This is not arbitrary: banks have compliance obligations around foreign ownership disclosure, anti-money-laundering requirements, and know-your-customer checks applied more stringently to foreign-involved entities. Branch staff have significant discretion over what they accept. A branch handling corporate accounts regularly will be more experienced with foreign-owned companies than a branch primarily serving retail customers. Budget 2-4 weeks from submitting documents to a fully operational account.
Which Banks Work for Foreign-Owned Companies
Bangkok Bank
Generally regarded as the most foreigner-accessible for corporate accounts. Established international banking division, English-language support at many branches, and a track record with foreign-owned companies. Silom Road headquarters branch and several central Bangkok branches have dedicated corporate account teams experienced with foreign-involved entities. Starting point recommendation for most foreign entrepreneurs in Bangkok.
Kasikorn Bank (KBank)
Second-largest Thai bank. Its K-Biz SME platform is well-regarded with online account management, payroll processing, and business payment tools. Generally accessible for foreign-owned company accounts, though branch experience varies. Central Bangkok and business district branches are more likely to have staff experienced with foreign company applications.
SCB (Siam Commercial Bank)
Well established in corporate banking. Solid choice, particularly for companies expecting to grow and needing more sophisticated banking products over time. Branch accessibility for foreign-owned companies varies more than Bangkok Bank. Call ahead to confirm requirements.
Krungsri (Bank of Ayudhya)
Majority-owned by MUFG (Japan's largest banking group), giving stronger international connectivity. Good option for companies with Japanese business relationships or needing international wire transfer infrastructure. Accessibility broadly similar to SCB.
Documents Required
Requirements vary by bank and change periodically. This is the standard set across most major Thai banks for a foreign-involved Thai Private Limited Company. Call ahead to confirm the specific branch's current requirements before your appointment.
Company documents
- Company registration certificate (issued within the last 3 months)
- Memorandum of Association (MOA)
- List of shareholders (บอจ.5) showing current shareholding
- List of directors (บอจ.6) showing all current directors
- Company affidavit from the DBD
- Board meeting minutes authorising account opening and designating authorised signatories
- Articles of Association
Director and shareholder documents
- Passport (original and certified copy) for all directors with signing authority
- Thai work permit for foreign directors (where applicable)
- Passport or national ID for all shareholders
Registered address proof
Lease agreement or evidence of registered office at a virtual office service (if used). Some banks request a utility bill for the registered address.
The Process Step by Step
- Choose your bank and branch. In Bangkok, start with Bangkok Bank at a major business-oriented central branch. Confirm the branch handles corporate accounts for foreign-owned companies before making an appointment.
- Call ahead. Confirm the specific documents the branch requires. Branch-level requirements can differ from the bank's standard list, and discovering this on the day wastes everyone's time.
- Prepare your document package. Have certified copies of all company documents prepared. If any documents are in Thai only, have them ready with English translations if possible (though not always required).
- Attend in person with all required directors. Most Thai banks require all directors with signing authority to attend in person, at least for the initial account opening. This is a firm requirement, not a formality.
- Wait for approval. 2-4 weeks is typical. Some applications are approved faster. If the bank requests additional information, respond promptly to maintain the timeline.
International and Multi-Currency Options
Wise Business
Multi-currency accounts widely used by small businesses operating cross-border from Thailand. Receive USD, EUR, GBP, and other major currencies into local account details in each currency, convert at competitive rates, and transfer to your Thai THB account as needed. Not a replacement for a Thai corporate account but an effective complement for international payments.
Airwallex
Similar multi-currency functionality to Wise Business, with additional features for businesses with higher transaction volumes. Particularly useful for e-commerce businesses collecting international payments.
Stripe
Available for Thai companies in most standard e-commerce and digital service categories. For international card payments from overseas customers, Stripe provides a more integrated checkout experience than Thai domestic gateways.