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Before you open a bank account in Thailand, decide which company holds it. The Bank of Thailand (BOT) treats juristic persons located outside Thailand as non-residents and expressly excludes branches and agents of foreign companies located in the country. A company registered with the DBD therefore banks as a Thai resident even when foreigners own every share, with baht accounts and, for trade abroad, a foreign currency deposit account (FCD); a company registered abroad banks as a non-resident.
| Bank | Account | What its own pages ask for | In person |
|---|---|---|---|
| Bangkok Bank | Baht current account, FCD | Registration certificate and shareholder list (Bor Or Jor 5) under a month old, board minutes, IDs of owners above 25% | Documents and originals at a branch |
| Kasikornbank | Current account | Registration certificate under three months old, passports of foreign directors, IDs of 15% holders | Opener and signatory attend |
| ttb | Basic and FCD accounts | Registration certificate and Bor Or Jor 5 certified within three months, IDs of directors and 15% holders | Not stated |
| Krungsri | Non-resident baht account (NRBA) | Foreign juristic persons; trade, services, direct investment, property and loans, not securities | Not stated |
These are options in the market as each bank describes them; criteria change and any bank may decline.
Searches for a bank account for foreigners in Thailand usually end here. The law is not the obstacle: section 1144 of the Civil and Commercial Code sets no nationality or residence condition for directors. Bank policy is. Bangkok Bank asks foreigners not named as directors in the company registration for a passport and a work permit or an embassy reference letter. ttb’s company review form asks foreign signatories and 20% shareholders for a work permit. Kasikornbank’s list asks foreign directors for a passport and mentions no work permit.
Where Thai shareholders stay beside a foreign authorised director, the DBD now asks for their bank statements and the director’s confirmation of genuine investment, so the shareholder list and the bank file must match.
BOT rules let a non-resident company keep foreign currency accounts and open a baht account: the NRBA for trade, services, direct investment, property and loans, or the NRBS for securities, with no transfers between the two. Krungsri asks for BOT-prescribed documents, such as an invoice, when Thai residents pay baht in.
Bangkok Bank opens a baht savings account for overseas companies only at its Silom Road head office in Bangkok, on documents notarised and attested by a Royal Thai Embassy or Consulate. The Apostille Convention takes effect for Thailand on 28 February 2027, and the bank does not yet say whether an apostille will do. Ask whether the account is booked as an NRBA, since that decides deposit protection.
The BOT supervises commercial banks under the Financial Institutions Business Act B.E. 2551 (2008) and runs exchange control. Non-residents may move direct investment in and out freely, and three rules count for a trading company:
There is no IBAN: Bangkok Bank says it has none and asks senders for its SWIFT code, as Krungsri does. Thailand is outside the 41 European countries of SEPA, so euro payments arrive as international transfers.
The Deposit Protection Agency (DPA) pays up to 1 million baht per depositor per financial institution if a bank loses its licence, a limit Bangkok Bank dates from 11 August 2021. Companies are covered, and all accounts at one bank are added together. Foreign currency deposits and non-resident baht accounts are not, as the DPA and Krungsri state, so dollar receipts in an FCD have no statutory cover.
A ready-made Thai company may already hold an account. It is the company’s and survives the share transfer, but the bank checks the new shareholders, directors and signatories and may keep it, ask for more or close it; our guide to shelf companies with bank accounts explains that review. We can provide an existing company or handle company formation in Thailand, assemble the bank’s document list and, if we have a working contact at a suitable bank, make an introduction; the bank alone decides. See also our Thailand company guide and, for comparison, our Singapore business bank account guide.
Yes, as a signatory of a Thai company, on each bank’s conditions. Kasikornbank takes a passport copy from foreign authorised directors and wants signatories at the bank. Bangkok Bank asks foreigners not named as directors in the registration for a work permit or embassy letter, and ttb’s review form asks foreign signatories for a work permit.
Yes. A non-resident company may hold foreign currency accounts and an NRBA for trade, services, direct investment, property and loans, but not securities. Bangkok Bank opens its account for overseas companies only at its Bangkok head office, on documents attested by a Thai embassy or consulate. NRBA deposits have no DPA cover.
Yes, in baht. The Deposit Protection Agency covers companies as well as individuals up to 1 million baht per depositor per financial institution, adding together all accounts at the same bank. Foreign currency deposits and non-resident baht accounts are excluded, so export receipts kept in an FCD have no statutory cover.
Usually. Bangkok Bank wants FCD documents and originals at a branch and opens its overseas company account only at its Bangkok head office. Kasikornbank requires the person opening the account and the signatory to attend. No law demands the visit, but none of the banks we read describes a remote route for foreign signatories.