Banking Documentation Checklist for Newly Registered Thai SMEs

Founders opening their first Thai business account are often surprised by how much documentation is required, and how much smoother the process goes when it's all prepared upfront rather than gathered piecemeal in response to requests.

Core company documents

• Company affidavit (Hor Ror 30) confirming registration
• Company objectives document, showing your registered business activity
• List of shareholders and their shareholding percentages
• Company seal, if your business uses one for official documents

Director and signatory documents

• Copies of ID cards or passports for all directors and authorized signatories
• Work permits for foreign directors, where applicable
• A board resolution or equivalent authorizing specific individuals to open and operate the account

Business substance documentation

• A description of your actual business activity, consistent with your company objectives and, if BOI-promoted, your BOI certificate
• Evidence of a physical business address in Thailand
• For newer businesses without transaction history, a business plan or projected activity summary

Tax and compliance documents

• Tax ID card
• VAT registration, if applicable to your business size and activity

What trips founders up most often

Inconsistency between documents is the single most common cause of delay — a business activity description on your company affidavit that doesn't match what you tell the bank verbally, or a shareholder list that hasn't been updated after a recent change. Before submitting anything, do a pass across every document to confirm they all tell the same, consistent story about your business.