Opening a Bank Account
Opening Thai bank account online offers several benefits but foreigners often find themselves having a difficult time opening one or are unsure of what they need to be eligible for an account.
Siam Legal offers and provides assistance for a smooth and hassle-free way in opening a bank account in Thailand.
Available Bank Accounts for Foreigners
You may open one of the following bank accounts, depending on the type of visa you are holding:
- Savings account
- Current account
- Fixed-term account
- Foreign currency account
Savings account is the only option available for tourists who wish to open a bank account in Thailand.
- You will receive assistance in opening up a savings bank account
- You will receive a Bankbook and a debit/ATM card
- Application for online banking will be subject to the approval of the bank manager. Tourists will be required to purchase insurance at the bank to activate online banking.
- Applicants who are currently on visa exemption stamps or short-stay visas
- Applicants who are currently in Thailand on a non-immigrant visa or extension of stay
- Guarantee letter (to be provided by Siam Legal)
- Work permit and embassy letter are not required
After you have made the payment, our staff will contact you to arrange an appointment in our office and to arrange the opening of a bank account.
Opening a Bank Account in Bangkok
(Service not available at this time)
Our service fee is 5,000.00 THB + 7% VAT for opening a Thai savings account in Bangkok. Additional fee such as insurance fee may be required by the bank.
Opening a Bank Account in Chiang Mai
Our service fee for opening a local currency account in Chiang Mai is 5,000 THB. Additional fee such as insurance fee may be required by the bank.
Opening a Bank Account in Phuket
Our service fee for opening a local currency account in Phuket is 10,000 THB. Additional fee for immigration and insurance at the bank will be paid separately.
Opening a Corporate Bank Account
Siam Legal International also offers opening of a corporate bank account service. Listed below are the minimum requirements for setting up the bank account.
Corporate Bank Account (Thai Company)
List of Requirements:
- Documents related to juristic persons such as Certificate of the Company Registration verifying names of directors, managing partners, and authorized directors (dated not more than one month previously)
- Identity documents and House Registration of authorized person(s) such as Citizen ID card or any other ID cards
- Certificate of Shareholder Registration (Bor Or Jor 3), certifying the company seal or any amended registration details (Bor Or Jor 4)
- Letter of Authority from authorized person(s) on behalf of the juristic person (if the other person is an authorized representative to withdraw funds)
- Identity documents and House Registration of an authorized representative to withdraw funds such as Citizen ID card or any other ID cards
- Minutes of the Board Meeting authorizing the opening of the account and designating the signatories for payments with a company seal (if any)
Corporate Bank Account (Companies Registered Overseas)
List of Requirements:
- Minutes and Board Meeting authorizing the opening of the account and designating the signatories for payments and closure of the account.
- Certificate of Incorporation
- Articles and Memorandum of Association
- Power of Attorney and Passport of the grantee (required in case the signatory is not a director of the company)
- Passport of the directors and authorized persons. If a shareholder holds more than 25% of company shares
Note: All company documents (every page) must be verified by a Notary Public and attested by the Royal Thai Embassy or Consulate in the country where the company is registered. However, the time between the date of issue and the expiry date must not exceed six months.
For the quotation of fees for opening a corporate bank account, please do not hesitate to contact our Corporate Section for more information or contact us here.