The information contained in this document is marketing material and for informational purposes only. The information contained in this document is presented without any warranty or representation as to its accuracy or completeness and all implied representations or warranties of any kind are hereby disclaimed. Recipients of this document, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this document without seeking appropriate professional advice. The provision of the information contained in this document does not establish any express or implied duty or obligation between Citco and any recipient and neither Citco nor any of its shareholders, members, directors, principals or personnel shall be responsible or liable for results arising from the use or reliance of the information contained in this document including, without limitation, any loss (whether direct, indirect, in contract, tort or otherwise) arising from any decision made or action taken by any party in reliance upon the information contained in this document. © The Citco Group Limited, December 2024.
Thailand – DBD Business Registration Update
Thailand’s Department of Business Development (DBD) has launched DBD Biz Regist, a digital platform that transforms business registration from paper-based to fully electronic submissions.
This regulatory update streamlines Thailand’s business registration processes while ensuring data accuracy and compliance. Companies operating in Thailand are required to ensure their registration procedures align with these new digital requirements to avoid penalties and maintain good standing with the DBD.
Key Changes
- Introduction of e-Forms for all business registrations
- Digital verification process for Thai and non-Thai directors
- Streamlined documentation submission through online platform
- Enhanced data accuracy and maintenance in the DBD database.
Registration Process
1. Initial Submission
- Submit documentation through DBD Biz Regist website
- Provide self-certified copies of Thai ID/passports with wet-ink signatures
- Initial DBD review (1-7 business days)
2. Consent Form Execution
- Complete via mobile app, online upload or in-person submission
- Second review period (1-3 business days)
3. Fee Payment and Completion
- Process registration fees
- Download updated company affidavit
Compliance Requirements
Companies must submit all registration requests within 14 days of any relevant changes or shareholder meetings. This requirement applies to all updates in company information and modifications following shareholder meetings.
Risks of Non-Compliance
Failure to meet the 14-day filing deadline will result in penalties. Companies that do not comply with registration requirements may face additional regulatory scrutiny and potential restrictions on their business operations in Thailand.
DBD Data Cleansing Initiative
Separate from the registration process, the DBD has implemented a data cleansing requirement:
- Companies must verify and update incomplete director information
- Updates submitted through official DBD channels
- Informal process not requiring formal filing
- Must be completed before proceeding with new registration requests
How Mercator® by Citco (Mercator) Can Help
Mercator’s experienced team provides comprehensive assistance with document preparation and filing requirements with Thailand’s DBD. For support, please contact mercator@citco.com.
