Set Up a Bank Account in Thailand
Would you like to open a bank account in Thailand? Our Thai company formation agents can help foreign investors open bank accounts in this country.
Opening a bank account in Thailand implies completing a few steps and drafting several documents. Our Thai company formation specialists are at the service of natural persons and companies with specific services for each case, so that you can start using your account as soon as possible.
| Quick Facts | |
|---|---|
| Mandatory local bank account for companies (Yes/No) | Yes |
Mandatory residence requirement | Yes |
Bank account opening time in Thailand | Approximately 1 hour when visiting the bank branch (provided that all the documents are in order). |
| Online bank account opening | e-Savings accounts can be opened with some banks. |
| Bank accounts for foreign nationals | Foreign nationals are permitted to open a bank account in Thailand as long as they have a long-term visa. |
| Required documents – companies | The Board’s decision to authorize the opening of the account, the company’s constitutive documents, information about its shareholders and directors, etc. |
| Required documents – individuals | ID card and other documents, as needed. |
| Special requirements for foreign nationals who open a bank account in Thailand | Foreigners can be subject to specific conditions, as determined by the bank. |
| Bank fees | Examples include a 5,000 THB (not including VAT) for bank account opening. Banks set their own service fees. |
| Initial deposit | Banks may require a minimum deposit of 500 Baht for some types of accounts. The amount differs according to the chosen bank. |
| Types of bank accounts in Thailand | Savings account, basic banking account, current account, operating accounts for businesses, etc. |
| Online banking | Yes. Features depend on the chosen bank. |
| Local agent requirements | Not mandatory. |
| Main banks | Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, KrungThai Bank. |
| Criteria for choosing the bank | Branch availability and locations, ATM availability, mobile banking and mobile app features, etc. |
Who can open a bank account in Thailand?
Immigrants who hold a non-immigrant Thai visa, a residence, and a work permit in Thailand can open a bank account, in order to receive the remuneration and to make financial transactions. People with Thai business visas can open a bank account in Thailand when registering a company in the country.
A corporate bank account for a Thai company is subject to certain requirements, and it is important that investors take note of these before choosing the bank and starting the account opening process.
Is it possible to open a bank account in Thailand remotely?
No, because one of the main conditions when opening a bank account in Thailand is to be physically present when making the submission. However, the documents can be filed by one of our local specialists, after which a visit to the bank is usually required for identification.
In some situations, our specialists can act on the client’s behalf based on a power of attorney that will grant specific rights related to handling banking matters.
What types of bank accounts can I open in Thailand?
Here are some common types of bank accounts in Thailand:
- current/personal bank accounts;
- savings accounts;
- fixed-term account: used for locking the funds for a pre-determined period; it can be an alternative to the savings account;
- foreign currency account: similar to a current account, only that it is in other currencies that can be held by individuals in Thailand (EUR, USD, etc.); suitable for foreign investors in the country.
- corporate accounts, available for doing business in Thailand.
What are the requirements to open a bank account in Thailand as a foreigner?
First and most importantly, you must have a long-term or qualifying non-immigrant visa to open a personal bank account in Thailand. Then, you must draft the following documents:
- a valid passport;
- a valid visa/residence permit/work permit;
- an identification paper issued in your home country (ID or driver’s license);
- a Consideration Certificate issued by the Thai Board of Investment, if applicable.
Based on the type of residence visa you hold, additional documents may be requested.
What are the document requirements to open a corporate bank account in Thailand?
If you registered a company in Thailand and must open a bank account, you must prepare:
- the Certificate of Registration;
- the Articles of Association;
- an extract from the Department of Business Development indicating company registration in Thailand;
- a list of the shareholders and directors;
- the resolution for opening the account;
- details of the signatory (the person designated to represent the company in the relationship with the bank).
Our specialists in company registration in Thailand can help foreign and local businessmen set up a corporate bank account.
How long does it take to open a bank account in Thailand?
- A few days for personal bank accounts;
- Around 6 weeks for foreign-owned companies.
Opening a bank account in Thailand will provide you with additional advantages, such as mobile and internet banking. We invite you to contact our company registration agents in Thailand in case you need to set up a bank account for your business in this country.
Jose Herrera, Attorney at Law · 4 November 2026Jose Herrera is Managing Partner and Founder of Herrera and Partners.