Markets for expansion
all about investing in
Thailand
why Thailand should be your targeted expansion Market
Thailand beckons as an unparalleled investment haven, capturing the imagination of Vietnamese and overseas businesses alike. Nestled strategically in Southeast Asia, it unlocks access to vast markets, blending traditional charm with modern dynamism. Thailand showcases a resilient financial ecosystem, epitomizing legal integrity and business adaptability. Within its vibrant tapestry of culture, innovation thrives, offering a distinct allure for entrepreneurial ventures. Unveil the extraordinary potential that Thailand presents for amplifying your business horizons.
Frequently Asked Questions & Answers
See our brief explanations to some of the mostly asked questions from our clients, details can be provided by our experts
Incorporation Topic
There minimum capital requirements for a limited company in Thailand is 1 million baht. In general, the registered amount of the capital should be respectable enough and adequate for the intended business operation.
- Typically, a 100% foreign-owned company cannot operate in Thailand unless:
The Ministry of Commerce has granted a Foreign Business License (FBL) or; - An investment promotion from the BOI and a Foreign Business Certificate from the Ministry of Commerce has been obtained.
The registration duration depends on a number of factors, such as your selected entity, shareholder and ownership structure (foreign vs Thai), business activities and more. In most scenarios, it can take as few as 7 days, but more difficult cases may take up to 6 months.
Foreign companies carrying on business in Thailand are generally taxed at a rate of 30% on their profits derived from Thailand. However, international transportation companies are taxed at a rate of 3% on their gross receipts.
A limited company’s foreign ownership is limited to 49%, therefore Thai citizens must hold the majority of the shares.
Operation Topic
Yes, Thailand’s income tax does apply to foreign income
Thailand taxes its residents and non-residents on their assessable income derived from employment or business carried on in Thailand, regardless of whether paid in or outside Thailand.
The salary range was reported to be anywhere from 24,500 Baht per month to 433,000 baht per month. This equates to around 711 USD to 12,800 USD, with an average salary for the country equalling around 96,900 Baht per year.
The traditional choices for foreigners arriving in Thailand are Bangkok Bank and Kasikorn Bank. Both UOB and CIMB also have a reputation for being more lenient with foreigners and offer more benefit options for expats.
Thailand’s business scenario has improved considerably since 2013 and has been rated the second most promising economy in East Asia.
Standard Business Incorporation Process in Thailand
An overseas company in Thailand will go through the following steps to be fully incorporated in Thailand.
Step 1 - Register a company name
Choose a company name and register online
Step 2 - Submit the company charter
Submit the company charter with the necessary information
Step 3 - Pre-incorporation meeting
Hold a meeting to agree on the terms before incorporation process
Step 4 - Register the company
Submit the company registration application to the Department of Commerce
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What We Offer
Our business consulting service offers unparalleled strategic insights for Vietnam and international markets. Our experienced consultants analyze market trends, competition, and opportunities to develop tailored strategies that drive growth.
Tailored Solutions
We take the time to understand your unique challenges and craft customized solutions for setting overseas company in Vietnam and other countries. Our recommendations directly address specific pain points showing a commitment to client success.
Measurable Results
Tangible results matter. Our consulting service concentrates on generating quantifiable improvements in key performance indicators, thereby making the company formation process in Vietnam and Asia so simple that can amaze you.
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Prompt and responsive support is our outstanding character. We are always here for you to address questions, concerns, and unexpected challenges you may face along the way of company incorporation in Vietnam or in other countries.
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