Company Registry Spotlight: Thailand

Company registries serve as vital resources, promoting transparency and ensuring compliance within the financial sector. In Thailand, the Department of Business Development (DBD) DataWarehouse functions as the local company registry, offering a wealth of information on registered entities. This article will explore the Thailand Company Registry, including access options, available data, the number of registered businesses, and the significance of company registries in supporting business KYC (Know Your Customer) compliance.

The DBD DataWarehouse is a robust platform overseen by local authorities, enabling convenient access to precise and up-to-date information on registered entities in Thailand. Its primary objective is to streamline the accessibility of crucial company data for government agencies, enterprises, investors, and individuals.

The DBD DataWarehouse provides a diverse range of information and documents related to registered entities, including partnerships, private companies, public companies, joint ventures, and branches of foreign companies. Users can access essential documents such as:

• BOJ5 List of Shareholders (This document is accessible only to companies that have a Thai bank account, and this is now available through the Know Your Customer platform)
• Company Information Report
• Financial Statement Report
• Investment by Nationality Report

Official company information from entity types that are available through the registry:

• Partnership
• Private Company Limited by Shares
• Public Company Limited by Shares
• Other/Non-corporate
• Joint Venture
• Branch

These resources offer valuable insights into the legal and financial aspects of registered businesses, empowering stakeholders to make informed decisions.

The Thailand Department of Business Development (DBD) DataWarehouse currently hosts a substantial 1,886,398 registered entities as of January 2024. This figure reflects a robust increase in new business registrations, with approximately 85,300 new entries recorded in 2023 – an 11.1% surge compared to the prior year’s 76,490 new registrations. These statistics underscore the dynamic and rapidly growing business environment flourishing within Thailand. (source)

Company registries play a central role in upholding business KYC compliance for financial institutions and regulated businesses worldwide. These official registries serve as essential resources, providing trustworthy information that enables the authentication of clients, suppliers, investors, and partners. This, in turn, ensures adherence to regulations and mitigates risks associated with unlawful activities.

To enhance the efficiency of compliance procedures, many organisations have adopted automated solutions for business KYC. These innovative tools leverage advanced technologies like AI and machine learning to effectively analyse extensive, real-time data from company registries. Automation not only saves time but also ensures precise and efficient data verification, enabling compliance teams to fulfil their regulatory obligations with greater efficacy.

The Department of Business Development (DBD) DataWarehouse stands as an invaluable resource for accessing comprehensive entity information within Thailand. Boasting a diverse range of registered businesses, including partnerships, private companies, public companies, joint ventures, and branches of foreign firms, this central registry plays a crucial role in promoting transparency and supporting compliance endeavours. By embracing automated business KYC solutions that integrate with authoritative sources like the DBD DataWarehouse, organisations can streamline their compliance processes, gain immediate access to reliable information, and successfully meet regulatory requirements while mitigating risks.