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Cost of Doing Business in Thailand

Typical Costs of Starting and Operating a Business

Baht

US$

Visas (Government fee) (1)

Work permit

- Expired within 3 months

750

20.98

- Expired between 3 to 6 months

1,500

41.96

- Expired between 6 to 12 months

3,000

83.92

- Expired more than 1 year

Increase at the rate as it is stated above

Increase at the rate as it is stated above

Three - month Visa (Single entries)

2,000

55.95

One - year Visa (Multiple entries)

5,000

139.86

Re-entry permit (Process time 1 day)

- Single entry

- Multiple entry


1,000

3,800


27.97

106.30

1. Visas (Typical fee charged by a law firm to process) (2)

Work permit (process time 1-10 days)

30,000 - 35,000

839.19 – 979.05

Visa extension (process time 1-30 days)

28,000 - 30,000

783.24 – 839.19

Re-entry permit (process time 1 day)

5,500

153.85

2. Registration (Government fee) (3)

Company registration

5,000 - 250,000

139.86 – 6,993.22

List 2 Alien business license

40,000 - 500,000

1,118.92 – 13,986.44

List 3 Alien business license

20,000 - 250,000

559.46 – 6,993.22

Factory license

100,000

2,797.29

3. Accounting (4)

Start-ups with few transactions (per month)

4,000 - 5,000

111.89 – 139.86

Small Company with more complex transaction (per year)

18,000 - 40,000

503.51 – 1,118.92

4. Office Achieved Rents (per month) (5)

- Office rent

Central Lumpini

650 - 1,600 per square meter

18.18 – 44.76 per square meter

Sathon

500 - 1,100 per square meter

13.99 – 30.77 per square meter

Silom

500 - 1,400 per square meter

13.99 – 39.16 per square meter

Sukhumvit

490 - 1,400 per square meter

13.71 – 39.16 per square meter

- Other expenses

Electrical

5 - 6 per kilowatt per hour

0.14 - 0.17 per kilowatt per hour

Air conditioning (Water Cooled Package Unit)

40 - 50 per square meter per month

1.12 - 1.40 per square meter per month

Air conditioning (Central Chiller System)

No expense

No expense

Air conditioning (After hour)

2 - 3 per square meter per hour

0.06 – 0.08 per square meter per hour

Decorating

15,000 - 20,000 per square meter

419.59 – 559.46 per square meter

5. Construction Costs (6)

Per square meter

Commercial Building

Commercial building < 23 meters

18,900 - 23,300 per square meter

528.67 – 651.75 per square meter

Commercial building > 23 meters (but not higher than 20-storeyed)

22,000 - 27,900 per square meter

615.38 – 780.42 per square meter

Commercial building, 21 to 35-storeyed

28,500 - 37,800 per square meter

797.20 – 1,057.34 per square meter

Car Park

Car park building, on-ground

11,200 - 11,900 per square meter

313.29 – 332.87 per square meter

Car park building, underground, 1 to 2-storeyed

19,600 per square meter

548.25 per square meter

Car park building, underground, 3 to 4-storeyed

31,200 per square meter

872.73 per square meter

Industrial Facilities

Warehouse and general factory building

6,800 - 8,600 per square meter

190.21 – 240.56 per square meter

Industrial cold room (0 to 18 degree Celsius) not including cooling equipment

16,700 - 27,900 per square meter

467.13 – 780.42 per square meter

High water tank (champagne bucket 15-20-30 cubic metres) / set, not including pumping equipment

222,400 - 390,100 per square meter

6,220.98 – 10,911.89 per square meter

Sources: (1) Ministry of Labour, as of March 2023: www.mol.go.th, Immigration Bureau, as of March 2023: www.immigration.go.th

(2) Ratchada Law Co.,Ltd as of March 2023: www.ratchadalawfirm.com

(3) Department of Business Development, as of March 2023: www.dbd.go.th

(4) S & F Consulting Firm., Ltd, as of March 2023: www.tillekeandgibbins.com

(5) CBRE (Thailand) Co., Ltd, as of March 2023: www.cbre.com

(6) Thai Appraisal and Estate Agents Foundation, updated as of Sept 2024: www.thaiappraisal.org

Translation Costs

An A4 page of non-technical text typewritten in Times New Roman size 12 or Angsana size 16 when appropriate

An A4 page of technical text typewritten in Times New Roman size 12 or Angsana size 16 when appropriate

An official form, e.g. an identification card, a driving license, etc.

Baht

US$

Baht

US$

Baht

US$

English - Thai

800 - 1,250

22 – 35

800 - 1,500

22 – 42

650 - 1,250

18 – 35

Thai - English

800 - 1,250

22 – 35

800 - 1,500

22 – 42

650 - 1,250

18 – 35

English - Thai

800 - 1,250

22 – 35

800 - 1,500

22 – 42

650 - 1,250

18 – 35

Other foreign languages - Thai

800 - 1,200

22 – 34

800 - 1,500

22 – 42

800 - 1,250

22 – 35

Thai - Other foreign languages

800 - 1,500

22 – 42

800 - 1,500

22 – 42

800 - 1,500

22 – 42

English - Other foreign languages

800 - 1,500

22 – 42

1,000 - 2,000

28 – 56

800 - 1,500

22 – 42

Other foreign languages - English

800 - 1,500

22 – 42

1,000 - 2,000

28 – 56

800 - 1,500

22 – 42

Sources: Chulalongkorn University, as of March 2023: www.arts.chula.ac.th

Remarks: Exchange Rate: US$ 1 = Baht 35.75 as of June 30th, 2023

Last Update: Sept 27th, 2024

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