Scenario: Thailand or Vietnam for the next entity — the two most compared ASEAN setups. Thailand is famous for incorporation speed; Vietnam for licensing structure. But the real fork in the road isn’t the company registration — it’s whether you go BOI.
Thailand: two timelines in one country
Thailand offers two different setups with two different clocks. Standard Thai limited company: name reservation, memorandum filing and DBD certificate in 1–5 working days once documents are ready — with a realistic foreigner end-to-end of 2–6 weeks including tax registration and the bank account. (Note: standard companies face foreign-equity limits — often 49% — in restricted sectors.) BOI-promoted company: adds 40–90+ working days of BOI review, for a realistic total of 3–6 months from application to certificate — buying 100% foreign ownership, tax holidays, import-duty exemptions and relaxed work-permit rules. Thailand’s question isn’t “how long” — it’s “which Thailand”: fast and limited, or slow and promoted.
Vietnam: the IRC/ERC timeline
Vietnam’s foreign-invested setup — IRC first, then ERC, under Law 143/2025/QH15 (in force 01/3/2026) — takes a matter of weeks for open sectors, longer for conditional ones. The structural comparison: Thailand’s standard track is faster than Vietnam’s for a plain company (days vs weeks), but Thailand’s BOI track is slower than Vietnam’s standard foreign-invested track (months vs weeks) — while delivering the deeper incentive package. Vietnam gives most foreign manufacturers 100% ownership and incentives through its standard licensing; Thailand makes you choose between speed (standard) and privileges (BOI).
The decision: which timeline buys what
Choose Thailand-standard when you need a company fast in an unrestricted sector and incentives don’t move the needle (services, trading, representative presence). Choose Thailand-BOI when the tax holiday and 100% ownership justify a 3–6 month runway — capital-intensive manufacturing in promoted categories. Choose Vietnam when you want the middle path: 100% foreign ownership for most manufacturing, meaningful incentives, and licensing measured in weeks rather than months — the standard track already includes what Thailand reserves for BOI. The timeline tells you each system’s bargain: Thailand trades time for privileges; Vietnam bundles them.
Frequently Asked Questions
How long does it take to set up in Thailand?
Two clocks: standard Thai limited company — 1–5 working days at DBD once documents are ready, 2–6 weeks foreigner end-to-end (but foreign-equity limits, often 49%, in restricted sectors). BOI-promoted — 40–90+ working days of BOI review, 3–6 months total — buying 100% ownership, tax holidays, duty exemptions, relaxed work permits.
How does Vietnam’s IRC/ERC timeline compare?
IRC first, then ERC, under Law 143/2025/QH15 (in force 01/3/2026) — a matter of weeks for open sectors. Thailand-standard is faster than Vietnam for a plain company; Thailand-BOI is slower but delivers deeper incentives. Vietnam’s standard track bundles 100% ownership and incentives in weeks.
Which track should an investor choose?
Thailand-standard for speed in unrestricted sectors where incentives don’t matter; Thailand-BOI when the tax holiday and 100% ownership justify 3–6 months; Vietnam for the middle path — 100% ownership and meaningful incentives in weeks. Thailand trades time for privileges; Vietnam bundles them.
This article has been quality-reviewed by the FLAW AI Legal Council