Starting a business in Thailand might seem tricky, but with the right help, it can be pretty straightforward. At Sukhothai Interlaw, we’re here to make sure you’re covered every step of the way.
Why Thailand?
Perfect Location
Thailand is a great place to set up because of its central spot in Southeast Asia. You’ll be close to major markets like China and India, and it’s also part of the ASEAN Economic Community, giving you even more access to opportunities.
Stable Economy
The country has a solid economy with modern infrastructure and a skilled workforce, making it a smart place for foreign investors to put down roots.
Government Perks
The Thai government wants foreign businesses to thrive, offering tax breaks and simplified regulations. If your business falls under specific sectors like tech or renewable energy, you may even get extra perks through the Board of Investment (BOI).
Business Structures in Thailand
Here are some ways you can legally set up your business:
Thai Limited Company
This is the most common business structure. You need at least three shareholders and one director. Foreign ownership is usually capped at 49%, but exceptions can be made in certain cases.
Representative Office
If you’re not selling products or services in Thailand but want a local base, a Representative Office is ideal. You can use it for activities like market research, but it can’t generate income.
Regional Office
This office mainly manages activities in other countries in the region. Like the Representative Office, it’s not designed to make money, but it supports your operations elsewhere.
Foreign Investor Options
BOI-Promoted Companies
If your company qualifies for BOI promotion, you could get tax breaks and lower import duties. This is for businesses in industries the government wants to boost.
Foreign Business License (FBL)
If you don’t qualify for BOI promotion, you can still apply for an FBL. It allows foreigners to own businesses in Thailand, but it doesn’t come with tax benefits.
US-Thai Treaty of Amity
For American businesses, the US-Thai Treaty of Amity lets you hold a majority stake in a Thai company, giving you the same rights as a Thai business owner.
Joint Ventures
A joint venture with a Thai partner is another option. It offers flexibility and lets you work closely with a local business, sharing resources and expertise.
How to Register Your Company in Thailand: Step-by-Step
- Reserve Your Company Name
We help you check the availability of your company name with the Department of Business Development (DBD) and reserve it for you. - Document Preparation
We’ll get all the necessary documents ready, like your Memorandum of Association and Articles of Association. Everything will be filed correctly to meet legal requirements. - Company Registration
Once the paperwork is done, we’ll submit it to the DBD for official registration. You’ll also get a tax ID. - Open a Bank Account
We can help you open a corporate bank account to get your financial operations started. - VAT and Social Security Registration
If your business revenue exceeds a certain threshold, we’ll help you register for VAT and make sure you comply with employee social security obligations.
Support After Registration
Once your company is up and running, we’ll help you stay compliant with Thai regulations.
Accounting and Auditing
We provide accounting services and work with auditors to make sure you’re meeting legal requirements for your financial records.
Corporate Compliance
We’ll take care of annual filings and other legal documentation so you don’t have to worry about it.
Business Advice
Our team is always here to offer guidance, whether you’re just starting or looking to expand your business.
Conclusion
Setting up a business in Thailand doesn’t have to be difficult. With the right help, you can get started quickly and focus on growing your business. At Sukhothai Interlaw, we’ll handle the legal side so you can focus on success.
Contact Us
Phone: +662 212 6866-7
Fax: +662 213 3124
17 Chan 35 Chan Road, Sathorn, Bangkok 10120, Thailand.
