If you have recently been smitten by Thailand and are even considering setting up a business in the Land of Smiles, you wouldn’t be the first foreigner to set about creating a profitable business in this unique country.
Thailand, much like every country, has laws regarding foreign businesses and certain industries such as farming and construction are prohibited to aliens, in order to protect domestic employment. The simplest way to register a business in Thailand is to find a Thai investor who would own 51% of the business, with you as the holder of the remaining 49%. This would furnish you with a long-term visa and depending on how much money you are prepared to invest in Thailand, you may even have the right to own a small plot of land for residential purposes.
Business Registration Services
Check out the services offered at https://www.acclime.com/, a leading company that offers business registration services in many South East Asian countries, including Thailand. The list of business registration options is long and includes the following:
- Limited company – This would either require a Thai national (or more than one person) to own 51% of the company, while you hold the remaining 49%, or the business could be 100% owned.
- Thailand Branch Office – Some foreign companies have branches in many other countries and if your company wants to open an office in Thailand, this would be the type of business to choose. Click here for a few online businesses that you can run from home.
- Representative Office – The RO is perfect for the foreign company that wishes to carry out extensive market research in Thailand and while you are not permitted to trade, you can carry out internal marketing and research. There is no income tax levied on a RO, which makes it an attractive proposition for the foreign business that wishes to explore the potential of the Thai domestic market.
- Board of Investment Company – If you register a BOI company in Thailand, the initiative was designed to attract foreign investment and there are many concessions and incentives, which includes long-term visas and the possibility to acquire Thai citizenship.
Complex Business Laws
Thailand is no different to any other country in terms of complex business laws and regulations, while there is also an obvious language problem, which is why you need to enlist the help of a specialist company, one that handles company registration and offers many services that you might need. It is always a concern for the foreign business that they might fall foul of Thai law, which could have serious consequences and by using the right company, you will always be compliant with local laws.
If you have a Thai partner, this makes things a lot easier, you can form a limited Thai company; indeed, many mixed couples do this and create successful businesses.
By consulting with an established company that facilitates company registration in Thailand, you can receive the very best advice and make informed decisions.
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