You might have come to Thailand for a vacation and hopelessly fell in love with the colourful Thai culture and now that you have decided you want to spend the rest of your life in the Land of Smiles, it seems natural to set up a business to fund your new life in a tropical paradise.
There are numerous ways for a foreigner to start a business in the Royal Kingdom of Thailand, which include the following:
- Set up a private limited company (PLC) – The company would have a Thai, or Thais, holding 51% of company shares; you, as a foreigner, can hold the remaining 49%. If you don’t have a Thai partner, a Thai lawyer can find a local to be a proxy, which allows you to move forward. If you are planning to get married to a Thai national, this makes it easy to set up a PLC, as you obviously trust your soulmate.
- Choose a sector that allows for 100% foreign business ownership – Some business sectors allow foreigners to 100% own the business; contact the Thai Board of Investment (BOI) for more details.
- Set up a branch office – In the event you are a foreign business owner, you can register a branch office in Bangkok, which allows you to carry out market research. Talk to an English-speaking Thai business lawyer about the pros and cons of the various business forms and you can make an informed decision.
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Sourcing office space
If you are looking for ออฟฟิศให้เช่า กรุงเทพ, there are business parks that have all the amenities a business needs, plus office space in a business park is affordable. Of course, it all depends upon which area on the city you wish to locate your business; Bangkok is a big metropolis and not everyone wants to live in the city.
Working visa
In order to manage your business effectively, you need to have a work permit and the best way to obtain this is by consulting with an English-speaking Thai business lawyer. There are certain requirements; you must have several Thai employees to have a foreigner employed, consult with a lawyer regarding this. Click here for How to connect with customers on a global level.
Taxation, bookkeeping & accounting
We recommend hiring an English-speaking Thai accountant and make use of their bookkeeping and auditing services; your lawyer would be able to connect you with these services and with a cloud network, your bookkeeping and accounting can be done remotely.
Understanding Thai culture
The Thai people are shy by nature and there is such a thing as ‘losing face’. In the event you have an issue with a Thai employee, NEVER chastise or criticise them in the company of others. Most westerners are quite direct and to the point, which sometimes isn’t the best approach with Thais.
For more information on setting up a business in Thailand, click here.
