Thailand Market Entry

Why Startup in Thailand 

Thailand is the second-largest economy in South East Asia, ranking 21st amongst 190 countries on ease of doing business. It is a beautiful yet highly wealthy and promising nation located at a crossroads of the booming ASEAN region. Alongside a stable economy. with its rich culture, 94% literacy rate, and longstanding trading heritage, Thailand thrives on industrial and commercial growth.

The economy of Thailand is heavily export-dependent, with exports accounting for more than two-thirds of gross domestic product (GDP). Thailand exports over US$105 billion worth of goods and services annually. Major exports include cars, computers, electrical appliances, agricultural commodities, textiles and footwear, fishery products, rubber, and jewelry.

Setting up a business in Thailand is, in many ways, unique. Government rules and instructions are in abundance and all in the Thai language. This can be an extremely frustrating fact for those doing business in Thailand for the first time. Thailand’s business modalities including the legal system are relatively independent of the legal systems of the rest of the world which can be witnessed easily by a foreigner. As a new entrant in Thailand, one is advised to seek expert guidance from a Startup Specialist. 

Startup in Thailand, with it’s established advisory and best in class local knowledge, works hand-in-hand with their customers, achieving their objective to gain an advantage of the prevailing Thailand market potential. With their customized market entry solutions and leveraging decades of experience, their aim is to startup, build, and execute effective business growth for their customers.

In addition to their startup and business advisory services, they have a unique business model of managing their international client’s end to end business operations in Thailand.

Startup in Thailand is usually engaged at an early stage of the business by their clients to help with identifying new business opportunities or potential business acquisitions in Thailand. They assist their clients through the entire journey, right from the initial phase of startup business registration procedures, to running the business operations successfully and handing over the successful business venture to their clients.

Check out the FAQ page for a quick overview of the critical factors to consider before starting a new business in Thailand.

Entering an alien country for opening a business in Thailand is a big challenge. One may not be aware of the pitfalls that lurk ahead. It is best that every organization procure in-depth information and conduct thorough market research for the successful execution of their business plans in Thailand. 

Despite pieces of information available on the internet in abundance, there are customers who demand the latest market intelligence and customized data analysis which can assist them to predict future trends and behavior. With over two decades of Thailand market presence, Startup in Thailand has amassed the best market intelligence to be able to provide the best quantitative and qualitative analysis. They offer time-specific, precise consulting on Country laws, Market barriers, Market research, Company Incorporation, Human Resources, and local marketing initiatives.

Check out the Business Development page and the Integrated Marketing page for more information.

Contact Startup in Thailand  for a no obligation, 30 mins FREE Business Consultation now.

Thailand has enacted well thought out and robust economic policies to provide attractive incentives for Foreign Direct Investment in targeted industry sectors. 

The primary Government agency promoting economic development to attract foreign business is the Thailand Board of Investments (BOI) through its initiative “Thailand 4.0” and “Eastern Economic Corridor project”. With great incentives and tax benefits offered for foreign industries, Thailand is targeting a flourish of investors to take advantage of that as they prepare themselves for global and regional competitiveness in the 21st century.

The Thai legal team of Startup in Thailand, with its deep understanding of the Thai Company regulatory framework, business environment, and compliances, assist it’s diverse client base to facilitate corporate solutions and provide advisory services for the following :

The Board of Investment Application –  Most foreign companies are quite awed by the fantastic promotions offered by the Board of Investments especially on the Tax-free benefits, 100% foreign ownership, and the easy option of bringing foreigners to work in Thailand. So it is quite justifiable to opt for a BOI license if possible at an early phase of the Startup in Thailand. The proceedings and preparations can be complex and time-consuming, so the assistance of a consultant is recommended.  To know more about the Board of Investment, click here.

Thai Company Incorporation – Due to its flexibility and ease of operation, a limited company is considered to be the best option for most foreigners with a project in Thailand. To establish a Thai Limited company one needs three promoters, one of these three must be Thai national holding majority of the total shareholding (51%) with a capital investment of Thai Baht 2 million or approx, USD 68,000, and a located in a commercial address. Read more about how to register a Thai company 

There are always exceptions to the rules. The majority of foreign ownership requires an Alien Business license also known as a Foreign Business License, which is distributed from the Ministry of Commerce. This is based upon very large investments of money as well as large numbers of Thais to be employed.

More Details about Company registrations can be found at our legal assistance page.

Visa and Work Permits -Whether it is an established foreign corporation or an individual starting up their business in Thailand, it is mandatory for any individual to have the correct Business Visa for Thailand (Non-B Immigrant) and valid Work Permit to do any business in Thailand. The competent team of Startup in Thailand are well equipped to provide assistance for any immigration and visa matters for those wishing to relocate to the land of smiles. 

Read all about Work Permit / Visa procedures here.

Due Diligence -In today’s fast-paced business environment, organizations are faced with the increasing challenge of managing regulatory, reputation, and compliance risks while trying to build and grow their business. 

Whether someone is skeptical about a Joint Venture in an alien country, desiring more factual information about the proposed partner, or whether they are looking for a buy out of an existing business in Thailand, it is equally important to do proper due diligence before moving ahead.

Thai attorneys with a team of business and financial consultants form the due diligence team to assist the most routine cases as well as the most extraordinary. They provide a comprehensive appraisal of the business undertaken and evaluate it’s commercial potential, keeping investment protection as a key factor for their client. Read More  legal assistance page.

Contact Startup in Thailand for a no-obligation final, 30 mins FREE Business Consultation now.

Thailand has a regular inflow of foreign investors with a quest to find new business opportunities in the form of business acquisitions or startups. 

Mergers and Acquisitions

Startup in Thailand indulges in advising on Joint Ventures, acquisitions, mergers, and divestitures. 

They do not act as business brokers rather execute projects on their client’s behalf, managing risk, and investment safe. 

Working with their broad network of business brokers, Startup in Thailand work with their client to identify the business for sale and then go through the entire business lifecycle of investment including business structuring, resolving regulatory issues, due diligence, negotiating and contract finalization.

Startup in Thailand also offers a unique business model that helps investors to appoint them with an option to let them startup, build, and operate the project on their behalf for the initial few years. This option is particularly interesting for passive foreign investors who prefer to reside in their own country and need a professional team to manage their business. 

For more information please refer to the investment consulting page.

Hiring the right team is essential

Professional and skilled manpower is vital for any startup business success, especially if the persons are hired from the same industry. In Thailand’s high demand, low availability of good local talents, it becomes extremely challenging for any foreigner to recruit and more so to retain people. People management and handling cultural gaps often become an issue for foreign companies trying to establish a business in Thailand.

Startup in Thailand offers flexible terms in recruiting professionals with an option to let their clients hire direct, or in an outsourced business model. With their two decades of recruitment experience, they ensure committed professionals, with relevant working experience and an excellent attitude.

Read More – INTERACTIVE RECRUITERS.

Startup in Thailand, with their diverse industry experience,  assists their clients to set up factories in Thailand with local industry domain experts who provide immense value in ensuring project success.

Depending on the nature of business and customer’s vision, they formulate a startup roadmap that encompasses from concept creation to implementation of any project. They provide comprehensive services including scouting for factory location, importing and erection of machines, setting up utilities, selection of skilled workforce, etc.

Such projects may be applied through Board of Investments (BOI), if it meets specified criteria and then companies can get lucrative incentives like land benefits, imported machinery, tax-free incomes, unlimited work permits, etc

Often people like to outsource their business operations in Thailand to a third party so that they can concentrate on their main business.

Check out the FAQ page for a quick overview of the critical factors to consider before starting a new business in Thailand.