Tips for Setting Up a Business in Thailand

Thailand is called the Land of Smiles for a reason and if you are one of the many westerners that are instantly smitten with the mysterious Siam culture, why not set up a business and relocate to a tropical paradise? If that is your plan, this article offers you a few tips from the seasoned expats in Thailand.

Setting Up a Business in Thailand


ü  Be Legal – We've all heard the Thai jail horror stories and the authorities take a dim view of anyone who works illegally in their country. You will need an experienced English-speaking lawyer to ensure you comply and with the business registration comes long-term visas and a work permit, an essential requirement. There are many incentives offered by the Board of Investment to attract foreign investors; just make sure that your business is within the permitted categories. Hire a local accountant to handle all tax and VAT returns, which all Thai businesses must pay.

ü  Jai Yen – This is Thai for ‘cool heart’, meaning that the culture expects patience and tolerance is a virtue in Thai culture. They have their own way of doing things and with an English-speaking lawyer in your corner, you will always be compliant, which is even more important when you are a guest in the country.

ü  Digital Marketing Creating an aggressive pay per click campaign of Google Ads in Bangkok will ensure that your business is firmly on the digital map. Be prepared to invest in SEO services in an ongoing way; thorough SEO is the key to successful branding and is the best way to drive traffic to your landing page. Here is some further reading on the benefits of digital marketing.

ü  Learn the Language – Anyone who is going to spend a lot of time in Thailand should make a determined effort to learn to speak Thai. The locals are very hospitable and warm to foreigners (farang) who try to speak their language, plus you can’t expect to gain an insight into Thai culture if you can’t converse with the locals. Yes, it is difficult; a tonal language where one word could have 5 different meanings but with some determined effort, you can quickly be able to have a basic conversation and order things. If you plan on doing business with the Thais, you should read up on their culture to discover the do’s and don’ts.

ü  Location – If your business is online, you can basically live in any part of Thailand; all have great Internet service and whether you prefer the tropical islands in the south or the mountainous north of Thailand, all you need is your laptop and a good net connection and you can run your business. If you’d like to take the plunge, rent a property in a rural part of the country, where hardly anyone speaks English, while coastal towns like Hua Hin and Cha-Am offer a great lifestyle and there are many retired expats that live year-round.

read more: Everything You Need To Know In Order To Obtain a Work Permit in Thailand

As the pandemic ends, countries are opening their borders and Thailand is no exception; click here for details.

 

 

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