Unlike Singapore, Hong Kong etc , Thailand has few constraints for initial setup. For a normal Thai company, one needs to register the company with 51% Thai ownership and 49% foreign ownership More details about Company registration can be found here

However, there are few options where one can have a company fully owned by foreigner specially suited for technology and manufacturing companies who are willing to put in large investments and looking at long term business. The companies would have to be granted by the license from Board of Investments. More details of it can be be found here

The Foreign Business Act limits to the business activities a 100% foreign owned company can undertake. So the options are limited as either one needs to sought for Thai Shareholders or apply for a BOI promotion obtained in order for a company to legally operate. 

Foreigners are generally allowed to invest in the following business entities:

• By a Thai Company Limited with Thai majority own. Learn More 
• By foreign majority own with Foreign Business License (FBL). Learn More

• By foreign majority own with an exception of FBL i.e. BOI, Learn More

Every Thai company limited is subject to the corporate income tax (CIT) on its total annual net profit at the end of every year. The tax rate will vary between 15-30% depending on the kind of business. However, the company may be exempted from paying tax for a maximum period of 8 years, or pay less tax if it is promoted by BOI. Foreign company not carrying on business in Thailand is subject to a final withholding tax (WHT) on certain types of assessable income (e.g. interest, dividends, royalties, rentals, and service fees) paid from or in Thailand. The rate of tax is generally 15%, except for dividends, which is 10%, while other rates may apply under the provisions of a double tax treaty (DTT).

There aren’t any significant differences or advantages. As long as both businesses are within the same investment zone, they will generally enjoy the same tax benefits and privileges.

Generally, the hotel business is classified under Annex 3 of the Foreign Business Act 1999 (FBA). This regulation states that foreigners cannot own the majority share in a hotel. However, where the company is promoted by the BOI, the foreigner may be able to own up to 50% of the share.

BOI promoted companies will be denied the right to land ownership in Thailand for restricted or special areas. Regardless, the amount of land that foreign promoted companies can own is stipulated below:

• Land for the establishment of offices for promoted projects must not exceed 5 rai
• Land for the residence of executives must not exceed 1 rai
• Land for the residence of an employee must not exceed 2 rai

The general answer is no. Foreigners can’t own land in Thailand, unless an exception applies. Instead, foreigners are allowed to hold condominium title units. Some rules apply here: foreigners are not able to hold more than 49% of the total units in the building, and the foreign purchaser must bring in the purchase sum from an overseas bank account.

If you are fortunate enough to hold a Permanent Residence Certificate, the requirement for the purchase sum to be transferred from an overseas account doesn’t apply.An alternative attractive option for foreigners is to opt for a long term lease for up to 30 years. Note that a lease does not mean that you own the land.

If a foreign purchaser wishes to purchase land for manufacturing (ie. within an industrial estate) there is the possibility to do so. The foreign purchaser must apply to the IEAT and undergo all the required steps. The application is dependent on receiving approval from the IEAT.

A minimum of three shareholders is required to set up the company and once established, must remain a minimum of three of which 51 percent must be Thai owned. To obtain a work permit for the foreign director there must be a minimum of 2 million baht in registered capital and four Thai employees paid into the social welfare fund.  

Under Thai law, a limited company must have a majority of Thai shareholders, however there are no requirements on the nationality of the directors. Often, the foreign director will not have a Thai director to maintain control but there are some situations when a Thai director may be helpful. If the foreign director does not yet have a work permit and needs a director to endorse the work permit application, or if the foreign investor is not resident in Thailand and requires a local director to operate the company. When establishing the company the authority of its directors must be specified, how many directors and it is possible to state any limitations on the authority of each director, for example only one director is allowed to sign for financial or commercial transactions.

If the Director has income from the Thai Company then he needs a work permit.

Learn all about Work Permits here