Do I need professional help to do business in Thailand 2020?

How to start a business as a foreigner in Thailand is often asked by foreigners and the like who have fallen in love with Thailand. If you have a medium-sized to large company that is financed from outside Thailand, you may be wondering where to find a Thai partner. There are a number of types of businesses that you should start if you are up to the task.

Having a translator is one thing, but having a team that can help you start your business and start your business here in Thailand is vital. Support for Thai business and the community as a foreigner working in Thailand can also be crucial, especially in the areas of business development and marketing. 

Actio Lawyer in thailand holding files

Startups in Thailand can advise you on how to register your BOI company and are available in English through the Board of Investment. Here you will find others who have also travelled to Thailand to start a business and can offer advice on business development, marketing, business planning and other business issues. S

What about foreigners?

There are no rules on how foreigners can register or do business in Thailand, and many sectors are reserved for Thai nationals only to work there. This restricts foreigners in terms of the type of companies they can run and the legal assistance you can receive when setting up your business within Thailand, but there are rules for setting up and registering companies and operating them. 

We strongly recommend that you seek professional legal and accounting advice before starting your business in Thailand. As a leading law firm supporting both foreign and domestic companies in establishing their business within Thailand, we have a reputation for providing fast and polished services in corporate business matters. We can advise you and also assist you in the management of your companies if you wish. In particular, foreign entrepreneurs planning to start and run a business outside Thailand should seek professional advice. 

Real Estate?

In Thailand it is quite common to buy real estate while living in partnership with a foreign investor. The advantage of a Thai partner is that the Thai majority of your business will be able to buy land if necessary. 

To this day I get emails from people who ask me if I want to start some business here in Thailand. However, many questions arise about the costs of starting a business in Thai. In fact, it costs more than 2 million baht to set up a business in Thailand, which I know I didn’t even plan to spend money on, let alone have a budget. 

I also know that there are many people who read this and still plan to push ahead with their plans to live in Thailand and start their own small business. Before you even consider this trip, you must be armed with the basics of Thai business law and regulations. 

This includes everything from exploration and starting a business to commercial licences, business registrations and business licences. If you want to start a business in Thailand, you must apply for a commercial license for certain types of trade. This makes it difficult to do business in Bangkok and other parts of Thailand. 

Do I need to speak Thai?

Once your company is up and running, you need to be able to communicate and understand with Thai employees. Personal relationships are key to successful business in Thailand and the level of closeness between you and Thai professionals can take precedence over what you offer. Companies wishing to invest in Thai should contact their local professional advisors to learn more about their business opportunities in the country. 

Your expert can help define the things that need to be overcome and give you advice on how to make it much easier for you. The Guide to Australian Business provides a detailed insight into the workings of Thai e-commerce marketplaces and how to access them in Australia, Thailand and other parts of the world. Help us explore the most important issues of doing business in Thailand and working with a professional business consultancy such as the Thai Business Consultants Association of Australia (TBAA) or the Thailand Business Consulting Association (THBA) can help to pave the way. 

Thailand is a fast-growing Southeast Asian country and offers an attractive business environment. One can compare the administration required to set up a business in Thailand to do so in Australia. Thailand is ranked 21st out of 190 nations in terms of ease of management, making it one of the most accessible places in the world for you to start a business. It can also be compared to Australia, which ranks third (21 out of 190 economies) for ease of doing business with the US. 

Starting a business in Thailand also gives access to the Greater Mekong sub-region, where emerging markets offer great potential for doing business with Thailand. Foreigners living in Vietnam, for example, will find Thailand an attractive investment destination, as it makes it even easier to do business. Known for its high quality of life, high quality education and low cost of living, Thailand is the ideal destination for foreign investors seeking a safe and easy-to-manage business environment in the Southeast Asian region

Share on facebook
Share on twitter
Share on linkedin

Leave a Reply

Sophie Eccles

Sophie Eccles

Hi, I'm Sophie, I hope you enjoy reading my article. If you would like one of our team to just take care of this service for you, book a free consultation below.

Book Free Consultation

About Actio

A network of experienced professional expats in Thailand. We stay up to date on the minute by minute updates that directly affect you. Join the community and subscribe to our FREE newsletter below.

Table of Contents

Need Legal Help?

We're Here To help You

The first consultation is free, and will include expert legal advice.

We typically reply on the same or next day, and will arrange your free consultation.

Need to contact us?

We're Here To Help you

Get in touch today

We’ll typically reply within 1 business day, however if you want to speak to a specialist now, call 0837031138

Want a free consultation?

We're Here To Help you

Book Your Consultation now

We’ll typically reply within 1 business day,  to arrange a consultation, however if you want to speak to a specialist now call +66837031138