Quick answer: Thai companies typically register a Wholly Owned Subsidiary (Private Limited Company) in India in 3-5 weeks, with professional fees ranging from INR 30,000 to 80,000. Because Thailand has not yet joined the Hague Apostille Convention, Thai corporate documents require embassy attestation through the Indian Embassy in Bangkok rather than the faster apostille process. Under the India-Thailand DTAA, dividends, interest, and royalties are withheld at 10%; the treaty has no separate Fees for Technical Services article, so FTS is taxed under India's domestic 20% rate (or as business profits if attributable to a PE).
Key takeaways:
- Registration timeline: 3-5 weeks, including embassy attestation of Thai documents.
- Professional fees for a CA/CS firm range from INR 30,000 to 80,000.
- Thailand isn't yet a Hague Apostille member; documents need embassy attestation, not apostille.
- DTAA withholding tax: 10% on dividends, interest, and royalties; the treaty has no separate FTS article, so FTS falls to India's 20% domestic rate.
- At least one director must be an Indian resident with 182+ days of stay.
Company Registration for Thai Companies in India
India and Thailand have shared deep cultural and economic ties for centuries, and their modern commercial relationship has expanded significantly under the ASEAN-India framework. Bilateral trade between India and Thailand exceeded USD 15 billion in 2024-25, and in April 2025, the two countries elevated their relationship to a Strategic Partnership, pledging to realize the full potential of economic cooperation across trade, investment, defence, and digital connectivity.
Thai conglomerates — including Charoen Pokphand (CP Group), Siam Cement Group (SCG), PTT Global Chemical, Thai Union Group, and Bangkok Bank — have already established operations in India across sectors ranging from food processing and petrochemicals to construction materials and financial services. With India's market of 1.4 billion consumers and rapidly growing middle class, more Thai businesses are looking to set up subsidiaries in India.
To establish operations in India, a Thai company must register a legal entity with India's Ministry of Corporate Affairs (MCA). The most common structure chosen by Thai businesses is a Wholly Owned Subsidiary (WOS) registered as a Private Limited Company, which gives the Thai parent full control while limiting liability to the Indian entity's assets.
Other options include a Branch Office for conducting business activities without a separate legal entity, a Liaison Office for market research and promotional activities, or a Joint Venture with an Indian partner. Thai companies in the food, automotive, and chemicals sectors often prefer a WOS structure to maintain complete control over manufacturing processes and quality standards.
How Thailand's DTAA Affects Company Registration
The India-Thailand Double Taxation Avoidance Agreement (DTAA), signed in 1985, plays a key role in reducing the tax burden on cross-border transactions between the two countries. Understanding this treaty is essential before deciding on the structure and capitalization of your Indian entity.
Under the India-Thailand DTAA, the withholding tax rates on passive income are capped as follows:
- Dividends: 10% withholding on the gross amount (Article 10)
- Interest: 10% withholding on the gross amount (Article 11)
- Royalties: 10% withholding (Article 12). Note: the India-Thailand DTAA has no separate Fees for Technical Services article — FTS payments are taxed as business profits under Article 7 (if attributable to an Indian permanent establishment) or, absent a PE, under India's domestic law (20% under section 115A, effective April 1, 2023)
- Permanent Establishment (PE): A subsidiary does not create a PE for the Thai parent, but a branch office or dependent agent may trigger PE status — proper structuring is critical
These reduced rates represent significant savings compared to India's domestic withholding tax rates of 20% on royalties and FTS. When your Indian subsidiary remits dividends to Thailand or pays royalties for technology or brand licensing from the Thai parent, the treaty-reduced rates apply provided the Thai company obtains a valid Tax Residency Certificate (TRC) from the Thai Revenue Department.
The ASEAN-India Trade in Goods Agreement (AITIGA), currently under review for enhancement in 2025, provides additional benefits including reduced tariff rates on goods traded between India and Thailand. For detailed treaty analysis, see our guide on India-Thailand DTAA.
Document Requirements from Thailand
Thailand is not yet a full member of the Hague Apostille Convention, although the Thai government approved its accession in December 2025 with implementation expected in the coming years. Until Thailand formally becomes a party, Thai documents intended for use in India must undergo the embassy attestation (consular legalization) process. Documents are first notarized in Thailand, then authenticated by the Thai Ministry of Foreign Affairs, and finally attested by the Indian Embassy in Bangkok. For a detailed comparison of these methods, see our guide on Apostille vs. Embassy Attestation.
The following documents are required from the Thai parent company and its proposed directors:
From the Thai Parent Company
- Certificate of Incorporation or Department of Business Development (DBD) company extract — notarized and embassy-attested
- Board Resolution authorizing investment in India — notarized and embassy-attested
- Memorandum and Articles of Association (Bor Or Kor 2 and related documents) — notarized and embassy-attested
- Latest audited financial statements (last 2-3 years)
- Power of Attorney authorizing an Indian representative — notarized and embassy-attested
From Proposed Directors
- Valid passport copies (notarized and embassy-attested)
- Address proof (utility bill or bank statement, not older than 2 months) — notarized and embassy-attested
- Passport-size photographs
- PAN application or existing PAN card (for Indian directors)
- Proof of Indian residency for the Resident Director
Indian-Side Documents
- Registered office address proof (rental agreement or ownership deed)
- NOC from the property owner
- Utility bill for the registered office (not older than 2 months)
Step-by-Step Company Registration Process
Here is the step-by-step process to register a Thai company's subsidiary in India through the MCA portal:
Step 1: Obtain Digital Signature Certificate (DSC)
Every proposed director needs a Digital Signature Certificate (DSC) — a Class 3 DSC is mandatory for electronically signing MCA forms. Thai directors can obtain a DSC by submitting their embassy-attested passport and address proof to an Indian Certifying Authority. This process typically takes 1-2 business days.
Step 2: Apply for Director Identification Number (DIN)
Each director must obtain a Director Identification Number (DIN), a unique lifetime identifier issued by MCA. Thai nationals applying for a DIN must submit embassy-attested identity and address proof.
Step 3: Reserve Company Name via SPICe+ Part A
Name reservation for a new company is done through SPICe+ Part A on the MCA portal (the standalone RUN service is reserved for renaming an already-incorporated company, not for reserving a name for a new one). Up to two name proposals can be submitted, with approval typically taking 2-3 business days. The name must comply with the Companies Act, 2013 naming guidelines.
Step 4: File SPICe+ Form
The SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form is an integrated application that covers incorporation, PAN, TAN, EPFO, ESIC, Professional Tax registration, and bank account opening in a single submission.
Step 5: Draft and Upload MOA and AOA
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA), which define your company's objects, authorized share capital, and governance framework. Upload these alongside the SPICe+ form.
Step 6: Receive Certificate of Incorporation
Upon approval by the Registrar of Companies (RoC), you receive the Certificate of Incorporation along with PAN and TAN. The company is now legally incorporated in India.
Step 7: Post-Incorporation Compliance
After incorporation, complete these critical steps within mandated timelines:
- Open a company bank account with an authorized dealer bank
- Receive foreign investment and file Form FC-GPR with the RBI within 30 days of share allotment
- Apply for GST registration if applicable
- Register under Shops and Establishment Act in your state
- File commencement of business declaration (INC-20A) within 180 days
Timeline and Costs for Thai Companies
The typical timeline for a Thai company to register a subsidiary in India is 3-5 weeks, including time for embassy attestation:
| Stage | Timeline | Approximate Cost |
|---|---|---|
| Document attestation (embassy route) | 5-10 days | INR 5,000-15,000 |
| DSC for directors | 1-2 days | INR 1,500-2,500 per director |
| DIN application | 2-3 days | INR 500 per director |
| Name reservation (SPICe+ Part A) | 2-3 days | INR 1,000 |
| SPICe+ filing and incorporation | 5-7 days | INR 5,000-15,000 (depending on authorized capital) |
| PAN, TAN, and GST registration | 3-5 days | Included in SPICe+ |
| Bank account opening | 3-7 days | Varies by bank |
| FC-GPR filing | Within 30 days of share allotment | INR 5,000-10,000 (professional fees) |
Government fees for incorporation depend on the authorized capital. For an authorized capital of INR 1 lakh, the RoC fees are approximately INR 5,000. Professional fees for a CA/CS firm handling the entire process typically range from INR 30,000 to INR 80,000.
Common Challenges for Thai Companies
Based on our experience assisting Thai companies with India market entry, here are the most common challenges and strategies to address them:
1. Embassy Attestation Process
Since Thailand has not yet fully joined the Hague Apostille Convention, all corporate documents must undergo the embassy attestation route. This involves notarization in Thailand, authentication by the Thai Ministry of Foreign Affairs, and attestation by the Indian Embassy in Bangkok. Allow 5-10 extra business days compared to apostille countries. Once Thailand completes its accession, the process will become significantly faster.
2. Resident Director Requirement
Indian law requires at least one director to have resided in India for a minimum of 182 days in the financial year. Thai companies should either appoint a trusted Indian professional as resident director or ensure a Thai expat already residing in India fulfills this role.
3. FDI Sectoral Caps
While most sectors allow 100% FDI under the Automatic Route, certain sectors have sectoral caps or require government approval. Thai companies in the food processing, automotive, and petrochemical sectors generally benefit from 100% automatic route FDI, but those in defence, insurance, or telecom should verify sector-specific limits.
4. FEMA Compliance
FEMA reporting is strict and time-bound. Missing the 30-day FC-GPR filing deadline or the annual Foreign Liabilities and Assets (FLA) return by July 15 results in compounding penalties. Thai companies should engage a compliance firm from day one to manage these obligations. See our guide on FEMA Reporting via SMF/FIRMS.
5. Transfer Pricing Documentation
Intercompany transactions between the Thai parent and the Indian subsidiary — including management fees, royalty payments, intercompany loans, and goods transfers — must be at arm's length. Maintaining comprehensive transfer pricing documentation from the first year is essential to avoid tax assessments and penalties.
Why Choose Beacon Filing
Beacon Filing has extensive experience helping Thai companies establish and manage operations in India. Our team understands the regulatory framework, ASEAN-India trade dynamics, and the specific challenges Thai businesses face. We provide:
- End-to-end company registration from DSC to bank account opening
- Dedicated support for embassy attestation and document preparation
- FEMA compliance, FC-GPR filing, and annual RBI reporting
- Ongoing annual compliance management — ROC filings, tax returns, and GST
- ASEAN-India FTA advisory for tariff optimization
Whether you are a Thai Borisat Chamkat (limited company) setting up a wholly owned subsidiary or entering a joint venture with an Indian partner, Beacon Filing ensures a smooth, compliant market entry from initial planning through to full operational readiness. For more context on the India entry process, see our guide on registering a company in India from Thailand.