Thailand - Country Commercial Guide
Due Diligence

Provides advice on how to perform due diligence and in what areas it is necessary for a U.S. company. Includes information on the U.S. Commercial Service International Company Profile service.

Last published date: 2019-10-13

American buyers and investors considering any ventures in Thailand should be cautious and conduct due diligence in their research before entering into legal agreements.  A number of local companies lack transparency in their accounting practices.  The Commercial Section at U.S. Embassy in Bangkok offers the International Company Profile (ICP) due diligence service that provides basic background information on Thai firms such as: overview of business operations, list of key management personnel, customer references, business operating conditions, and financial statements.  U.S. companies can also obtain financial background on Thai firms registered with the Thai Ministry of Commerce.  More information on these services is available on the website under "Services for U.S. Companies".

For more in-depth information, U.S. exporters and investors are advised to hire professional service providers, such as accountancy companies, lawyers, asset appraisers, and other experts to check bona fides of the company to which they want to sell, extend credit, or form a joint partnership with.  A number of leading American accounting and consulting companies with expertise in due diligence are active in Thailand.

American firms may also need to check with government agencies that have information on firms listed in the Stock Exchange of Thailand (SET) for their listing status.  Organizations worth checking for this type of information are the Stock Exchange of Thailand and the Securities and Exchange Commission (SEC).  Each has its  own data bank, which includes mandatory information that all listed firms must report on a quarterly or annual basis.  For information related to other non-listed companies or privately owned firms, the Department of Business Development at the Ministry of Commerce should be contacted.