What are the Do's and Dont's in Thailand?
When visiting Thailand, it’s important to be aware of the cultural norms and customs to ensure a respectful and enjoyable experience. Here are some do’s and don’ts to keep in mind:
Do greet with a wai: Greet people with a wai, a traditional Thai gesture, by pressing your palms together in a prayer-like manner and slightly bowing your head. This is a sign of respect.
Do dress modestly: When visiting temples or more conservative areas, dress modestly by covering your... Read More
All that you need to know about GEMOPOLIS
What is Gemopolis in Thailand and what is the advantage of setting a company there
Gemopolis is a designated area in Thailand that serves as a low-pollution business zone with strong support from the Thai government. It provides specialized facilities and infrastructure to attract investors, particularly those in the gems, jewelry, and related industries. Setting up a company in Gemopolis offers several advantages:
Strategic Location: Gemopolis is conveniently located near Suvarnabhumi International... Read More
Top 10 most popular trade between USA and Thailand?
The trade between the United States and Thailand covers a wide range of sectors and products. Some of the most popular trade categories between the two countries include:
Electrical Machinery and Equipment: Electrical machinery, including computers, telecommunications equipment, and electronic components, is a significant category of trade between the United States and Thailand. This includes products such as computers, semiconductors, electrical appliances, and communication equipment.
Machinery... Read More
What are the 10 most popular trade between India and Thailand?
The trade relationship between India and Thailand encompasses various sectors and products. While it’s challenging to provide an exhaustive list of the top 10 most popular trades between the two countries, the following sectors and products are significant in their bilateral trade:
Gems and Jewelry: Thailand is a major exporter of gems and jewelry, including diamonds, precious stones, and gold jewelry, to India. These products form a significant part of their trade relationship.
Chemicals... Read More
What are the top 12 businesses that foreigners like to setup in Thailand?
The top 12 businesses that foreigners often choose to set up in Thailand are:
Hospitality and Tourism: This includes hotels, resorts, restaurants, travel agencies, and tour operators, taking advantage of Thailand’s popularity as a tourist destination. Investing in a Hotel or guesthouses, boutique hotels, or resorts, catering to both domestic and international tourists are quite popular
Manufacturing and Export: Setting up manufacturing facilities to produce goods for export, taking advantage... Read More
What is the most popular business set up for foreigners in Thailand?
The most popular business setup for foreigners in Thailand varies depending on individual preferences, market trends, and industry opportunities. However, some of the common business setups preferred by foreigners in Thailand include:
Hospitality and Tourism: Establishing hotels, resorts, guesthouses, restaurants, travel agencies, or tour operators to cater to the growing tourism industry in Thailand.
Food and Beverage (F&B): Opening restaurants, cafes, bars, or food franchises to cater to... Read More
Is it better to register a Thai limited company or a BOI promoted company in Thailand?
The decision to register a Thai limited company or a BOI-promoted company in Thailand depends on various factors and the specific needs of your business. Both options have their own advantages and considerations. Here are some factors to consider when making a decision:
Business Activities: Thai limited companies offer more flexibility in terms of business activities. If your business falls outside the scope of BOI-promoted industries or if you plan to engage in a wide range of activities, a Thai... Read More
What is the advantage of forming a Thai limited company over a BOI company?
Forming a Thai limited company and a BOI-promoted company in Thailand offer different advantages depending on the specific goals and requirements of the business. Here are some advantages of forming a Thai limited company compared to a BOI company:
Flexibility: Thai limited companies offer more flexibility in terms of business activities and operations. There are no specific restrictions on the types of business activities that can be conducted, allowing for a wider range of options. BOI promotion,... Read More
What is a Board of Investment promoted company in Thailand and its advantages?
A Board of Investment (BOI) promoted company in Thailand is a business entity that has been granted promotion privileges by the Thailand Board of Investment. The BOI is a government agency that aims to attract foreign investment and promote economic development in Thailand. Here are some key points regarding BOI promoted companies and their advantages:
Eligibility and Application:
BOI promotion is available for both foreign and Thai-owned companies operating in certain targeted industries.
The... Read More
What is smart visa in Thailand and the process to get it
The SMART Visa is a special visa program introduced by the Thai government to attract highly skilled professionals, investors, executives, and entrepreneurs to contribute to the development of Thailand’s targeted industries. The SMART Visa program aims to facilitate the entry and stay of these individuals by providing various privileges and streamlined processes.
The SMART Visa offers four categories, each with its own specific requirements:
SMART Visa for Talents (T Visa): This category is... Read More
What are the various type of visas available in Thailand?
In Thailand, there are several types of visas available for individuals depending on their purpose of visit and duration of stay. Here are some of the common types of visas:
Tourist Visa (TR): This visa is suitable for individuals who wish to visit Thailand for tourism purposes. It allows for a stay of up to 60 days, which can be extended for an additional 30 days at a Thai immigration office.
Non-Immigrant Visa (Non-Imm): This is a general category visa that covers various purposes such as business,... Read More
What are the advantages and disadvantages to form a company for the purpose of owning land?
Forming a company for the purpose of owning land in Thailand can have both advantages and disadvantages. Here are some key points to consider:
Land Ownership: By forming a company, you can potentially bypass the restrictions on land ownership imposed on foreign individuals. Certain types of companies, such as Thai majority companies or BOI-approved companies, may be eligible to purchase land in Thailand.
Asset Protection: Holding land within a company can provide a layer of asset protection.... Read More
What types of companies can purchase land in Thailand?
In Thailand, the types of companies that can purchase land are limited to certain categories. These include:
Thai Majority Companies: Thai majority companies, where Thai nationals hold at least 51% of the shares, are eligible to purchase land in Thailand. These companies have the same rights as individual Thai citizens when it comes to land ownership.
BOI-Approved Companies: Companies registered with the Board of Investment (BOI) and granted investment promotion privileges may be permitted to... Read More
Are there any other disadvantages to Amity Treaty Companies?
While Amity Treaty Companies in Thailand can enjoy certain advantages and privileges, there are also some potential disadvantages to consider:
Limited Nationality: The benefits of the Treaty of Amity and Economic Relations are specifically available to American citizens and companies. This means that citizens and companies from other countries are not eligible for these privileges. Therefore, the scope of potential business partners, investors, and customers may be limited to American entities.
Activity... Read More
How does registering and maintaining a foreign company differ from registering and maintaining a Thai majority company?
Registering and maintaining a foreign company in Thailand differs from registering and maintaining a Thai majority company in several key aspects. Here are some of the main differences:
Legal Entity Status: A Thai majority company is a locally incorporated entity under Thai law, whereas a foreign company is registered as a branch office or representative office of a foreign entity. Thai majority companies have their own legal entity status, while foreign companies operate as extensions of their... Read More
What are the advantages and disadvantages of a representative office in Thailand?
Establishing a representative office in Thailand can have both advantages and disadvantages. Here are some key points to consider:
Market Research and Business Development: A representative office allows you to conduct market research and assess business opportunities in Thailand without engaging in direct commercial activities. It provides a platform to gather information, identify potential customers, establish local contacts, and develop business relationships.
Brand Visibility... Read More
How can we obtain an Alien Business License in Thailand?
To obtain an Alien Business License (ABL) in Thailand, which allows foreign individuals or entities to engage in business activities restricted to Thai nationals, you need to follow these general steps:
Determine Eligibility: Verify that your proposed business activity falls under the list of activities reserved for Thai nationals, as outlined in the Foreign Business Act (FBA) and its related notifications. These activities can include retail and wholesale trade, certain services, manufacturing,... Read More
Are deeds of transfer from the Thai shareholders to the foreign owners legal?
Deeds of transfer from Thai shareholders to foreign owners are legal in Thailand. The transfer of shares from Thai shareholders to foreign owners is allowed, subject to certain conditions and regulations. The specific requirements and processes for share transfers may vary depending on the type of company and the applicable laws and regulations.
However, the use of “nominee” shareholders is expressly forbidden by the Foreign Business Act of 1999. It is a criminal often with significant... Read More
What is a nominee shareholder in Thailand? Is it illegal?
In Thailand, a nominee shareholder refers to an individual or entity who holds shares in a company on behalf of another person or entity. The nominee shareholder’s name appears on the company’s share register and the shares are legally owned by the nominee. However, the arrangement is typically structured in a way that the nominee shareholder holds the shares as a trustee or nominee for the true beneficial owner.
in reality nominee shareholders lacks any real financial stake or interest... Read More
What are the best ways to source products from Thailand?
When sourcing products from Thailand, there are several effective ways to find reliable suppliers and source high-quality products. Here are some of the best ways:
Online B2B Marketplaces: Utilize online business-to-business (B2B) marketplaces that connect buyers and suppliers. Platforms such as Alibaba, Global Sources, and TradeKey have extensive listings of Thai suppliers across various industries. You can browse product categories, compare prices, read supplier reviews, and communicate directly... Read More
What are the best ways for a foreigner to open an Export-Import or trading business in Thailand?
Opening an export-import or trading business in Thailand as a foreigner involves several steps. Here are some of the best ways to establish such a business:
Market Research: Conduct thorough market research to identify potential export or import opportunities in Thailand. Evaluate market demand, competition, regulatory requirements, and potential customers or partners. This research will help you determine the viability and potential success of your business.
Business Structure: Decide on the... Read More
What are the options for a foreign company if they want to distribute their products in Thailand?
Foreign companies have several options for distributing their products in Thailand. Here are some common distribution options:
Distributor or Importer: A foreign company can appoint a local distributor or importer in Thailand to handle the distribution and sales of its products. The distributor typically purchases the products from the foreign company and assumes responsibility for marketing, sales, and distribution within the Thai market. This option allows the foreign company to leverage the local... Read More
What are the benefits of using outsourced administrative and operational services for a start-up or a new business setup company in Thailand?
Using outsourced administrative and operational services for a start-up or new business setup company in Thailand can offer several benefits. Here are some advantages of outsourcing these services:
Cost Savings: Outsourcing administrative and operational services can be more cost-effective compared to hiring and maintaining in-house staff. It eliminates the need for additional office space, equipment, employee benefits, and recruitment expenses. Outsourcing allows businesses to access professional... Read More
Is it difficult to close a company that is already registered in Thailand? What are the procedures for it?
Closing a company in Thailand involves a series of procedures and requirements. While the process can be somewhat complex, it is manageable if the necessary steps are followed. Here is an overview of the procedures involved in closing a company in Thailand:
Board Resolution: The company’s board of directors must pass a resolution to initiate the company’s dissolution and appoint a liquidator. The liquidator can be a director, shareholder, or an external person.
Inform Relevant Authorities:... Read More
What are the ongoing obligations for the company in Thailand once it is registered?
Once a company is registered in Thailand, there are several ongoing obligations and compliance requirements that the company needs to fulfill. These obligations may vary depending on the nature of the business, the company structure, and the applicable laws and regulations. Here are some common ongoing obligations for companies in Thailand:
Accounting and Financial Reporting: All companies in Thailand are required to maintain proper accounting records and prepare financial statements in accordance... Read More
Is it easy to open a corporate bank account in Thailand and are there any restrictions? What are the procedures for it?
Opening a corporate bank account in Thailand is generally straightforward, but there are certain requirements and procedures that need to be followed. While we can provide a general overview, it’s important to note that specific requirements and procedures may vary depending on the bank and the nature of your business. It is recommended to contact the bank directly or consult with a Thai lawyer or business consultant for detailed and up-to-date information. Here is a general outline of the... Read More
How long does it take to register a company in Thailand?
The time required to register a company in Thailand can vary depending on several factors, including the type of company, completeness of documentation, efficiency of the registration process, and workload of the relevant government authorities. It also depends on the shareholder and ownership structure (foreign vs Thai), business activities and more. In most scenarios, it can take as few as 10 days, but more difficult cases may take up to 6-10 months. These usually involve foreign ownership and/or... Read More
Is it mandatory to lease an office for the company registration in Thailand?
/In Thailand, it is generally required to have a registered office address for company registration. However, it is not mandatory to lease a physical office space specifically for the purpose of company registration. Here are some key points to consider:
Registered Office Address: A registered office address is the official address of the company, which serves as the company’s legal and administrative contact point. It is required to provide a registered office address during the company registration... Read More
What is the best company structure for your business in Thailand?
The best company structure for your business in Thailand depends on various factors, including your specific business objectives, ownership requirements, liability considerations, tax implications, and the nature of your operations. Here are some common company structures in Thailand:
Thai Limited Company: This is the most common type of company structure in Thailand. It is suitable for most small to medium-sized businesses. A Thai limited company requires at least three shareholders, with at least... Read More
Is it possible to set up a trust in Thailand?
Yes, it is possible to set up a trust in Thailand. Trusts are recognized and regulated under the Thai Civil and Commercial Code, specifically in Sections 1686 to 1739.
Here are some key points to consider regarding trusts in Thailand:
Purpose: A trust can be established for various purposes, such as asset protection, estate planning, charitable purposes, or managing specific assets for the benefit of beneficiaries.
Trust Deed: The trust is created through a written trust deed that outlines the... Read More
Provide a brief overview of the F&B industry in Thailand
The Food and Beverage industry in Thailand is a significant and vibrant sector, driven by a combination of domestic consumption and tourism. Thailand is renowned for its diverse and flavorsome cuisine, which attracts both locals and international visitors. The industry encompasses a wide range of establishments, including restaurants, cafes, street food vendors, bars, and food processing companies.
Market Size and Growth
The F&B market in Thailand has witnessed consistent growth over the years.... Read More
What are some of the most common legal issues foreigners face in Thailand?
Foreigners in Thailand may encounter various legal issues. Here are some common examples.
Visa and Immigration Matters: Foreigners must comply with Thai visa and immigration regulations, including obtaining the appropriate visa, extending stay permits, and adhering to the rules and requirements set by the Thai immigration authorities. Violations or non-compliance can lead to penalties, deportation, or other legal consequences.
Property Ownership and Land: Foreigners face restrictions on land ownership... Read More
Can a foreigner register a Thai limited company with Thai nominee shareholders?
Yes, it is possible for a foreigner to register a Thai limited company with Thai nominee shareholders. However, it’s important to note that the use of nominee shareholders should be approached cautiously and with proper legal advice to ensure compliance with Thai laws and regulations.
In Thailand, the majority of shares in a Thai limited company must be held by Thai nationals (51% or more), according to the Foreign Business Act (FBA). To meet this requirement, some foreigners choose to utilize... Read More
What are the top 10 imports by Thailand?
The top 10 imports by Thailand include:
Machinery and Equipment: Thailand imports various machinery and equipment, including industrial machinery, electrical machinery, mechanical appliances, and specialized machinery.
Electrical and Electronics: Thailand relies on imports of electrical and electronic products, such as computer components, semiconductors, telecommunications equipment, and consumer electronics.
Mineral Fuels and Oils: Thailand imports significant quantities of mineral fuels and... Read More
What are the top 10 exported products from Thailand?
The top 10 exported products from Thailand include:
Automobiles and Auto Parts: Thailand is a major exporter of automobiles, motorcycles, and auto parts, with many international automotive manufacturers having production facilities in the country.
Electrical and Electronics: Thailand exports a wide range of electrical and electronic products, including computer components, consumer electronics, home appliances, and telecommunications equipment.
Machinery and Equipment: Machinery and equipment,... Read More
Which are the top 10 industries where foreigners prefer to invest in Thailand?
Here are some of the industries that have historically attracted foreign investment in Thailand. These industries have been popular due to factors such as growth potential, government incentives, infrastructure development, and market demand. Here are ten industries that have traditionally seen foreign investment in Thailand:
Manufacturing: Thailand has been a hub for manufacturing industries such as automotive, electronics, appliances, textiles, and food processing. The country’s strategic... Read More
What is the difference between FBA and BOI?
In Thailand, the FBA (Foreign Business Act) and BOI (Board of Investment) are two separate legal frameworks that govern foreign investment and business activities. Here’s a brief explanation of the differences between the FBA and BOI:
Foreign Business Act (FBA):
The Foreign Business Act is a comprehensive law that regulates foreign investment and business operations in Thailand. Its primary purpose is to protect and regulate certain business sectors to ensure that Thai nationals maintain a... Read More
What is the role of a shareholder in a Thai limited company?
Shareholders play a crucial role in a Thai limited company. They are the owners of the company and hold shares representing their ownership interest. Here are the key roles and responsibilities of shareholders in a Thai limited company:
Ownership and Control: Shareholders have ownership rights in the company based on the number and type of shares they hold. They have the power to influence and participate in major decision-making processes, such as electing directors, approving company policies,... Read More
What is the Director's liability in a Thai owned company ?
In a Thai-owned company, the director’s liability is governed by the Thai Civil and Commercial Code, as well as other relevant laws and regulations. Directors have certain legal responsibilities and duties towards the company, shareholders, and other stakeholders. Here are some key aspects of director’s liability in a Thai-owned company:
Fiduciary Duty: Directors have a fiduciary duty to act in the best interests of the company and its shareholders. They must exercise their powers and... Read More
Are foreigners able to own land in Thailand?
Under Thai law, foreigners generally cannot own land in Thailand outright. However, there are certain exceptions and alternatives available for land ownership by foreigners, subject to specific conditions and restrictions. These options include:
Leasehold Agreement: Foreigners can enter into long-term lease agreements for land in Thailand. The lease can be for a maximum period of 30 years, with options for renewal. While the land remains under Thai ownership, the lease agreement grants the foreigner... Read More
What are the advantages, if any, of applying as a Thai BOI registered company or foreign BOI company ?
Both Thai BOI registered companies and foreign BOI companies can enjoy several advantages and incentives provided by the Board of Investment (BOI) in Thailand. The specific benefits may vary depending on the type of business, industry, and investment project. Here are some advantages that both types of BOI companies can potentially enjoy:
Tax Incentives: BOI companies are eligible for various tax incentives, including corporate income tax exemptions or reductions for a specific period. This can... Read More
Can a foreigner own the majority share in a company in the hospitality industry like a hotel ?
Yes, a foreigner can own the majority share in a company in the hospitality industry, such as a hotel, in Thailand. The specific ownership requirements and restrictions depend on the type of business structure chosen and the relevant regulations in Thailand.
Here are a few options for foreign ownership in the hospitality industry:
Thai Limited Company: A foreigner can establish a Thai Limited Company where they can hold the majority of the shares. The foreign ownership percentage can vary depending... Read More
What regulations guide foreign ownership of land with regards to BOI?
The regulations governing foreign ownership of land in Thailand in relation to the Board of Investment (BOI) promotion are as follows:
BOI-Promoted Projects: Under the Investment Promotion Act, certain projects that are promoted by the BOI are eligible for special privileges and incentives, including the ability to own land in Thailand. These projects are typically aimed at attracting foreign investment and promoting specific industries.
Land Ownership for Specific Industries: The BOI allows foreign-owned... Read More
How is the Real Estate market in Thailand ?
Thailand has been a popular destination for property investment due to its attractive locations, tropical climate, affordable cost of living, and a thriving tourism industry. In a span of a few years, Thailand has attracted a huge direct foreign investment which has provided a significant boost to the economy. Tourism, real estate, mining and construction, etc. are some of the most prospering industries in this country. The government has also invested a lot in these areas which allow the country... Read More
Is it possible to have a fully foreign owned company in Thailand ?
Unlike Singapore, Hong Kong etc , Thailand has few constraints for initial setup. For a normal Thai company, one needs to register the company with 51% Thai ownership and 49% foreign ownership More details about Company registration can be found at our website page https://startupinthailand.com/thailand-opportunities/registering-a-thai-company/
However, there are few options where one can have a company fully owned by foreigner specially suited for technology and manufacturing companies who are willing... Read More
What are the mandatory compliances for doing business in Thailand ?
When doing business in Thailand, there are several mandatory compliances that businesses must adhere to. The specific requirements may vary based on the business structure, industry, and location. Here are some common mandatory compliances for businesses in Thailand:
Company Registration: Registering your company with the Department of Business Development (DBD) is a mandatory requirement. This involves submitting the necessary documents, such as the articles of incorporation, memorandum of association,... Read More
What are the different taxes in Thailand ?
In Thailand, there are several types of taxes imposed on individuals and businesses. Here are the main taxes in Thailand:
Corporate Income Tax (CIT): Corporate entities are subject to Corporate Income Tax on their net profits. The current standard CIT rate is 20%. However, small and medium-sized enterprises (SMEs) with paid-up capital not exceeding 5 million baht may be eligible for reduced tax rates.
Personal Income Tax (PIT): Individuals who earn income in Thailand, including employees, self-employed... Read More
How to start a business in Thailand ?
Starting a business in Thailand involves several key steps. Here is a general guide to help you navigate the process:
Conduct Market Research: Begin by conducting thorough market research to identify potential business opportunities, assess market demand, understand competition, and determine the viability of your business idea in Thailand. This will help you refine your business concept and target the right market.
Develop a Business Plan: Create a comprehensive business plan that outlines your... Read More
What are the businesses that foreigners can own in thailand ?
Foreigners in Thailand can own businesses in various sectors, subject to certain restrictions and regulations. The businesses that foreigners can own in Thailand include:
Export-Oriented Manufacturing: Foreigners can engage in export-oriented manufacturing businesses, such as electronics, automotive parts, machinery, textiles, and garments.
Information Technology (IT) Services: Foreigners can establish IT-related businesses, including software development, IT consulting, e-commerce platforms,... Read More
What are ways that a foreigner can setup a business in Thailand ?
In Thailand, foreigners are generally restricted from fully owning certain types of businesses. However, there are several legal structures and options available that allow foreigners to establish and own businesses in the country. Here are some of the common business structures that foreigners can consider:
Thai Limited Company: Foreigners can establish a Thai Limited Company (also known as a Thai Company Limited) where they can own up to 49% of the shares, while the remaining 51% must be held... Read More
What are the best ways to setup a business in thailand?
Setting up a business in Thailand requires careful planning and execution. Here are some of the best ways to navigate the process and establish a successful business in Thailand:
Thorough Research and Feasibility Study: Conduct a comprehensive market research and feasibility study to identify potential business opportunities, assess market demand, understand competition, and determine the viability of your business idea in Thailand. This will help you make informed decisions and tailor your... Read More
What are the major constraints in setting up a business in thailand?
Setting up a business in Thailand can come with various constraints and challenges. Some of the major constraints that entrepreneurs may encounter include:
Foreign Ownership Restrictions: Certain industries in Thailand have restrictions on foreign ownership or require specific permits or licenses for foreign investors. These industries include banking, telecommunications, media, and retail. Understanding the regulations and complying with the restrictions can be complex and time-consuming.
Language... Read More
Understanding the Costs Involved in Starting a Business in Thailand
Starting a business in Thailand comes with various costs that entrepreneurs need to consider. By understanding these expenses, aspiring business owners can effectively plan their budget and make informed decisions. In this article, we will explore the costs involved in starting a business in Thailand and shed light on important aspects to consider.
Business Registration Fees:
To legally establish a business in Thailand, entrepreneurs must register their company with the Department of Business Development.... Read More