Before signing with or paying a Thai company, confirm it legally exists and is active at the Department of Business Development (DBD), obtain a recent company affidavit showing its directors and signing authority, check its VAT registration with the Revenue Department, search for bankruptcy or receivership at the Legal Execution Department, and confirm any licence its business requires. This is a counterparty check, not a full M&A due diligence, and it can usually be done from public records plus a certified affidavit.
Last reviewed: 2026-10-04 · General information only, not legal advice for your specific case
Why a Counterparty Check Matters
Foreign buyers, suppliers and investors often deal with Thai companies they have only met online or at a trade fair. The most common problems are not sophisticated fraud but basic mismatches: the company named on the invoice is different from the one in the contract, the person signing has no authority, the company has been dissolved, or the bank account belongs to an individual rather than the company.
Thailand has good public registries, so many of these problems can be detected cheaply before money moves. A short, documented check also helps later: if a dispute arises, you will have evidence of who the counterparty was, who signed and on what authority.
This page describes a counterparty verification. If you are buying shares, acquiring a business or making a significant investment, a full legal, financial and tax due diligence is needed instead.
Step 1: Confirm Registration and Status at the DBD
Every Thai limited company and public company is registered with the Department of Business Development of the Ministry of Commerce and has a 13-digit juristic person registration number. The DBD DataWarehouse+ service lets anyone search basic data such as the registered name in Thai and English, registration date, registered capital, status (active, dissolved, deserted, under liquidation), registered address and business objective code, and filed financial statements where available.
Check that the Thai name, English name and registration number match exactly what appears on the contract, quotation, invoice and bank details. Similar names are common, and a single character difference can mean a different company.
A registry search is a starting point, not proof of authority. Online data may lag behind recent filings, so for signing purposes you should rely on a recently issued certified affidavit.
Step 2: Obtain a Recent Company Affidavit
The company affidavit (nangsue rabrong borisat) is the official DBD certificate showing the company's directors, the authorised signatory rule (for example 'any two directors jointly sign with the company seal affixed'), registered capital, head office address and objectives. It can be requested from the DBD, including through its e-service, and it is commonly required to be no older than a set period by banks and government offices.
Read the signing rule carefully. If it requires two directors, a contract signed by one director alone may not bind the company. If a seal is required, check that it was affixed. If a person signs under a power of attorney, ask for the power of attorney and check that it was issued by the authorised directors.
For use abroad, the affidavit usually needs a certified English translation, and depending on the destination, certification by a Notarial Services Attorney and legalisation at the Department of Consular Affairs and the relevant embassy. Thailand's Apostille membership takes effect on 28 February 2027; until then legalisation applies.
Step 3: VAT Registration and Tax Identity
A company's 13-digit registration number also serves as its tax identification number. If the company issues tax invoices, it should be registered for VAT, and the Revenue Department provides an online search to confirm VAT registrant status and the registered branch.
Mismatches between the name on a tax invoice and the VAT registry are a warning sign, particularly when combined with a request to pay into a personal bank account or an account in a different name.
Step 4: Bankruptcy, Receivership and Court Searches
The Legal Execution Department publishes information about persons and companies subject to bankruptcy or receivership orders, and business reorganisation. A search against the company and, where relevant, its directors helps identify serious insolvency risk.
The Court of Justice provides online case information services, and for larger exposures we can search for civil cases involving the company. Results depend on the information available in court systems, so a 'no result' does not prove there are no disputes.
Step 5: Licences, Foreign Ownership and Assets
- Business licences: confirm any licence the activity requires, such as a factory licence, food or drug registration, tour operator licence or import licence.
- Foreign ownership: check the shareholder list (BOJ.5) where the company may be foreign-owned, and whether it holds a Foreign Business Licence, Foreign Business Certificate or BOI promotion where required.
- Intellectual property: if the deal involves a brand, search the Department of Intellectual Property database to see who owns the trademark in Thailand.
- Property: where land or buildings are offered as security, verify the title deed at the Land Department through the owner or with their authorisation.
- Bank details: confirm the account name matches the company exactly, and verify any change of bank details by phone using contact details you obtained independently.
Which Checks Fit Which Deal
Small supply order or first trial shipment: a DBD registry search, a recent company affidavit and confirmation that the bank account name matches the company are usually proportionate. The aim is to make sure the money goes to the entity named on the invoice.
Distribution, agency or long-term service agreement: add a review of signing authority for the specific signatory, the shareholder list, VAT status, any licence the Thai partner needs to perform, and trademark ownership if your brand will be used in Thailand. Consider whether the partner's role raises foreign business licensing questions.
Large deposit, joint venture or security over property: add bankruptcy and court searches against the company and its directors, a review of filed financial statements, verification of title deeds offered as security, and a meeting at the registered address. At this level, consider whether a fuller legal and financial due diligence is justified.
Overseas buyer relying on documents abroad: plan the certified translation, notarial certification and legalisation chain at the start, so the documents you collect can actually be used by your bank, court or regulator at home.
Red Flags
- Pressure to pay quickly into a personal account or an account in another company's name.
- Registered capital that is very small compared with the size of the contract, with no filed financial statements.
- Company status shown as dissolved, deserted or under liquidation.
- The person negotiating is not a director and cannot produce a power of attorney.
- Documents provided only as photos or screenshots, refusing to provide a certified affidavit.
- Address that does not exist or is shared by many unrelated companies, without other evidence of operations.
How We Help
- Registry searches at the DBD, Revenue Department, Legal Execution Department and other public sources.
- Obtaining a certified company affidavit and shareholder list.
- A short written report in Thai or English listing what was checked, the findings and points to clarify.
- Reviewing signing authority and the contract's party details before execution.
- Certified translation, notarial certification and legalisation of the documents for use abroad.
Our Role
Our check is based on official records and documents available at the time of the search. It cannot detect every risk, and it does not replace financial audit or credit rating services.
We report what the records show. Commercial decisions remain yours, and we cannot promise that a counterparty will perform.
Frequently asked questions
Can I check a Thai company online myself?
Yes. Basic registration data is available through DBD DataWarehouse+. For signing authority, rely on a recently issued certified company affidavit.
What is a company affidavit?
It is the DBD certificate showing the company's directors, signing rule, capital, address and objectives. Banks and authorities usually require a recent one.
Is this the same as M&A due diligence?
No. A counterparty check confirms identity, status and authority. Buying a company requires a full legal, financial and tax due diligence.
Can a single director sign a contract?
Only if the affidavit's signing rule allows it. Many companies require two directors or a company seal.
Do I need the documents translated?
Thai registry documents are in Thai. For use abroad or by foreign banks, a certified English translation is usually needed, sometimes with notarial certification and legalisation.
Official sources
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