Is the 7,000 baht a straight out govt fee? Experience has shown me that once thais get their hands on your cash you never see it again . A Thai Limited Company must have a Thai national holding 51% of the company in term of share holding, which means that foreigners can hold only 49%. International companies that are able to establish strong business connections with the travel industry in Thailand will be able to offer their clients the best rates around combined with a first-rate service that is sure to meet their high demands. Successful importers of these products are often able to establish strong connections with leading supermarket chains and other retailers so that these products can be stocked on their shelves to be available to the general public. Test the waters, initially tell her no and guage her response . can it be used to make up the 1 million baht? Many successful import and export companies in Thailand source products from their home countries that are difficult to find in Thailand such as brands of foods, drinks and other items and export them to Thailand. If you are a US citizen you can be a sole proprietor under the US-Thailand treaty on economic cooperation. There are plenty of solid business opportunities in Thailand to take advantage of by both people who are looking to expand their existing company in their home country into Asia and those who are planning to start an entirely new type of business in Thailand. TILA Legal will prepare the required documents and open a corporate bank account on your behalf, but the company directors must be present. What documents are required to register my private company in Thailand? As we build entrepreneurs, we always advise people to think out of the box with an extended vision of the business horizon. gooh idea but i have an internet marketing business also and has clients that are still customers i also have income from 12 internet sights ....just want to do the right thing and be legal. Can you elaborate. Open a Company in Bangkok, Thailand 5 Steps to Go 2. Under the Foreign Business Act (FBA) foreigners are prohibited from engaging in most business categories in Thailand, unless an alien business operation permit has been obtained from the Director-General of the Department of Commercial Registration with the approval of the Foreign Business Committee. You'd need to register a business and obtain a work permit. head the list of exports. can u recommend a good lawyer for branch set up pls. There are lots of flourishing silver mines in the north of Thailand, while gemstones are typically mined in the west of the country, especially close to the Burmese border. The Foreign Business Act lays down the process by which the FBL is obtained. There was a lot of noise online when this got approved so there may be some first-hand experiences detailed. For example, the web and mobile apps will list the nearby cosmetic clinic based on customer requirement eg. And due to the large number of expats living in Thailand, catering companies that offer international cuisines, are sure to do well. Thanks :). would this be possible as a foreigner? Most important business opportunities and decisions in Thailand are conducted while dining. A foreigner may use a Thailand-registered company to obtain property rights or land interest in Thailand. Sorry for the long winded message. HiI'm ARIF & I’m from Bangladesh, i want to know how much capital do I need to start a small restaurant business in Thailand? With this visa, you are eligible to apply for a work permit and to open a bank account. TMB Headquarter 3000 Phaholyothin RD., Chompon, Chatuchak Bangkok, Thailand 10900 Phone: 02 299 1111 © Copyright 2021 TMB Bank Public Company Limited Experienced craftsman has been handing over their skills over generations to make this industry prosper. Contact them to schedule a free business consultation to explore opportunities in Thailand, Startup in Thailand is the only company in Thailand to provide a single-window solution for all business startup and expansion requirements: Startup Consulting | Thailand Market Entry | Legal assistance | Serviced Office | Factory Setup | Representation | Recruitment Services | Accounting | Operations | Buying & Sourcing | Distribution | Sales & Marketing | M&A | Regional Business Development | Management, Things to Consider Before Making Investing Decisions, The Importance of Consulting a Startup Specialist, Mastering The Right Mentality When Starting a Business, Your email address will not be published. People who have a strong background in sales and marketing combined with plenty of energy and the drive to make money are likely to find that they thrive in this type of business in Thailand. Starting a business in Thailand can be a daunting prospect, but get it right and it can be a lucrative, enjoyable one. The most popular form of business organization among foreign investors is the private limited company. The following is an overview of establishing a business in Thailand.. As in most countries, there are three kinds of business organizations in Thailand: Sole proprietorships, partnerships, and limited companies. 1. Another good opportunity for companies who are interested in establishing automobile rental in Thailand is to offer vehicle rental with a driver. You would need the statuary minimum number of Thai Employees (4 I think it is) and the Social Security Payments for each and a Minimum of 2 million THB in money or assets to obtain a work permit. StartUp in Thailand is the single-window solution for any business startup and expansion requirements in Thailand. Thanks if you can share your experience/knowledge. Thailand is considered pioneer in animation, games, and mobile application development products. She is a Thai. Medical tourism is also a big business opportunity in Thailand. I have two areas of questions after reading your excellent guidance here. There are lots of different elements involved in IT Services depending on the specific needs of the client and customized solutions are key to satisfy clients. 74.9% of Thailand’s total imports by value in 2019 were purchased from fellow Asian countries. Natalie. Do all these company allows me to carry out production activity in Thailand?Thank you for the very enlightening article by the way. What kind of visa should I apply for - should i set up a company?Thanks in advance.... How much capitol does my wife's thai company have to have in order to hire a foreginer (me) and my brother if she were to start her business in Thailand? Krungsri Research estimates that over 2019-2021, hotel business will see growth in step with the wider tourism sector, … Thai imports for 2019 represent 1.2% of overall global imports which cost an estimated $19.665 trillion one year earlier during 2019. In case of any assistance Startup in Thailand is available for a comprehensive consultation. This sounds like exactly what I need. As a foreigner, am I only allowed to start a Limited Partnership, or can I also start a Thai Partnership (which doesn't have to be registered). Haha! How am I able to find a Thai national to be in a silent partnership ? Though there are many translations service is available in Bangkok but as an entrepreneur, you need to choose a place in Thailand where demand is higher and not so competitive as in Bangkok. How different my world would be here if I learnt to speak thai. We can also help you open an offshore company and we also offer other corporate services such as: virtual offices and shelf companies. That money could be redirected to loan repayments for the 10,000,000 baht bank loan. People who have a solid background in IT technology will find that this is a very good opportunity to start a lucrative business in Thailand and the costs of setting up this type of company in Thailand are relatively low. Okamura Chitose Indonesia. Your email address will not be published. In addition, even the leading translation companies only tend to offer a limited number of languages. I already have a company in my country. Private catering has also become extremely popular in recent years and many people call catering companies to provide dinner for themselves and their family at the end of the day. PT. 2. I want to do something similar and I am searching the internet up and down to find out if possible. The position she gives you must be one that isn't restricted under Thai labour law. In the last few years, there has been a dramatic rise in the number of Russian and Chinese travelers coming to Thailand, and tourists from these countries tend to have much more money to spend than Thai tourists and prefer travel packages where all of the details are taken care of for them. While there are many Thai companies that offer travel and tour services in Thailand, one of the main advantages for international companies is that they are able to offer services that cater to the unique needs of their international clients, including guided tours in their language of choice. There is a huge potential for the catering business because most of the people in Thailand do not prefer to have home-cooked meals. There are millions of expats currently living in different parts of Thailand and these products are highly sought after with expats and even local people, who are often being willing to pay much more for these products than they would in their own countries. The total number of MICE travelers for various corporate events augmented from 5.2 million in 2012 to 37.2 million in 2017. Setting up a translation company is relatively easy and can be a very lucrative business opportunity in Thailand once you have established a talented team of translators, editors and marketers. However, the government fee to register a company in Thailand is the same for Baht 15 capital or Baht 1M capital. How can I trust what I am being told about the laws that I need to know to know what are good options for me. A foreign company interested in opening it has to submit an application that is reviewed and approved by the committee on its merits. You would need to start a company. A private limited company is formed through a process that leads to the registration of a Memorandum of Association (Articles of Incorporation) and Articles of Association (By-laws), as its constitutive documents. I have a 12 year lease on a resort. Read more: What is the Real Estate Scenario in Thailand. And also this funds are just to be shown right?. I'm not sure about this. I only know a little bit of thai but I couldn't hold a conversation for more than 30 seconds. This where it gets tricky. Despite the large numbers of people who travel to Thailand each year both for business and pleasure, there are relatively few vehicle rental companies to choose from and this presents a real gap in the market that is just waiting to be filled by a company that is searching for a business opportunity in Thailand. Thank you for your answers! What is the contractual set-up here? Company Number 0475560000210 Status Process (ยังดำเนินกิจการอยู่) Incorporation Date 22 March 2017 (about 4 years ago) Company Type Limited Company (บริษัทจำกัด) Jurisdiction Thailand Registered Address. Customer spending on security software could drop 2.3% to 903 million baht, said Gartner. How to Open a Company in Bangkok, Thailand 1. You would need a Foreign Business License (FBL), and need to meet the capitalization requirements. How / where do you show the money? I was offered 10,000,000 baht to sell my lease 8 months ago. Company Vauban a pour objectif de vous faciliter et vous accompagner lors de l’achat d’appartement en pleine propriété (condominium) en Thaïlande. Successful jewelry companies that manage to establish themselves in Thailand also have the option of moving into the import and export business so that they can send their unique pieces of jewelry such as rings, bracelets, earrings, and watches to major suppliers that are located in their home country as well as other countries around the world. The following product groups represent the highest dollar value in Thailand’s import purchases during 2019. 1.7K likes. That's just standard. If a restaurant can satisfy the department that it has a need for a foreign national to be a manager or supervisor then it's possible that a permit will be issued.The easiest pathway to working in a Thailand would be to enter Thailand on a B visa, which can be obtained from your home country, then once you have accepted the job the company can apply for the permit. VAT registration . I have started searching for business information that I need. Can it be 100% foreign own I would suggest dropping an email to a company like Siam Legal and asking for some guidance on this. However, you need to be careful about food hygiene as special monitoring is done by institutions as they are responsible for the food intake of students. Your best bet would be to contact the Thai embassy/consulate in your country and find out the details. in a cost cutting manner?Request you to let me know the various options.Thanks. She sold it to her 2 years agoI'm the one who will have to stump up the cash if this is going to proceed.It's a double fronted salon in a good area next to a busy university with plenty of condos. However, I am also married to a Thai national and already have a working permit from another company for which I am currently working. What I understood from your words is to have a min 2mil bht to start up . 1 - In a company registered with a Thai partner (Thai majority shareholder company (limited) ) the capital requirement is 1 million baht. I paid 850,000 key money for the lease just under 2 years ago. A large number of foreigners and international traders doing business in Thailand leads to the ever-increasing need for translation services. Here is a graph for you to see how Thailand has fought back during difficult economic times and also some data related to the market segmentation of foreign buyers. Because most people in Thailand are too busy with work, fast foods and snacks sell very well in the country. Because hospitality is a major industry in Thailand, finding fully trained and qualified staff in Thailand is relatively easy, while international companies also have the option to transfer various existing staff members from their own country to oversee the running and marketing of the resort. Simply tell us what bank and branch, what type of account you require, and who will sign. Hi, I am from Indonesia and is currently looking to sell detergent-equivalent product in thailand. The solid lines are Trades as observed while the dotted lines are predicted, Read More: Export-Import Industry of Thailand. I have to find time to learn because then, and only then, will I be able to really understand how things are done here. Generally, that is the case. Customers feel relaxed at home when they order and the food is delivered at the doorstep, with minimum efforts. I could come up with the other 7,000,000 or so. It is a rule that you should have a Thai partner if you are not Thai national. The secret to success is hiring a competent Thai team who can liaise with Thai owners and help to make sure that every aspect of the sale goes smoothly. Simply investing in the business and being told you are a 50% partner is basically you giving your money to your friend and taking his word for it. People who are interested in establishing a real estate business in Thailand will find that there are plenty of great opportunities across all parts of the country and there’s lots of money to be made. Unfortunately I haven't got any return on it because I had to invest so much money into it to create something special. It may be a better situation.But here's the thing that worries me: The guy you lease from is sub-leasing. And a government fee of 7,000 baht. In 2019, the value of the Thailand medical device market rose to 176 billion baht (US$6 billion) – a 70 percent increase in the past decade, according to Thailand’s Office of Industrial Economics. You won't be able to work there per se, but no one is going to hunt you down for doing some decorating behind closed doors when the premises is shut, or helping her out with the books when at home.Be smart. I need your suggestion please, I want to set up a small saloon in Bangkok in a rental shop, how can i start this small work in minimum cost? Moreover, your GF would have retained the tax liability if the business was in her name. Be extremely cautious with your money. Thailand is one of the main transportation hubs of Asia and the nation shares excellent transportation links with countries throughout the region via air, road, rail and sea. For those who are interested are invited to visit our website for details. I wana plz ask in case i want to open a coffeshop or restaurant with a Thai partner, which kind of company/partnership do you advise and prefer? Hi - I work for a software company and am a remote worker (eg: skype / web conferencing that kinda thing with occasional face to face meetings) and currently reside in the UK but want to work from Thailand. However I have been told that the third shareholder which in this case is my mother with a holding only of 10% need not have a valid visa or come to Bangkok. All the money will be held? Can I be a sole proprietor, as an American or do I need the complexity of an entire limited company? Dee - have you started? Thailand has long been one of the world’s most popular holiday destinations and millions of people travel to Thailand from all over the world each and every year. The relatively low cost of raw materials combined with the high demand for unique and attractive jewelry both among Thai people and Westerners makes establishing a jewelry company in Thailand an excellent opportunity to start a business in Thailand. What's the time frame for capitalizing the entire amount? Also shown is the percentage share each product category represents in terms of overall imports into Thailand. I want to start an agency business for teachers to hire teachers and put them to schools. This is especially true in large cities such as Bangkok and Chiang Mai where many people work long hours and live in modern apartments that have limited cooking options. Info-Thaïlande. A startup in IT security incubated by us 2 years back, Arahant Thailand, has built up its reputation in IT securities and consulting achieved a 200% growth in the last year. It is now a 15 room boutique resort. Similar to the representative office, to open a Branch Office of foreign company in Thailand you must apply for a Foreign Business License (FBL) under the category which best fits your business activities in Thailand. I would like to set up a company for medical implants, supplying directly to hospitals. FilingMemorandumof Association To befiled for business’ registration The documents must include the company’s name, … Sure, some do very well in high-foot traffic areas but competition is usually very high and it takes hard work to get established. Others requirement includes– Minimum 15 shareholders; At least 5 directors. So you'll be paying the bank and not the owner. Thanks... As far as I know, there isn't funding for foreign nationals, but starting a business through the BOI makes it easier and is the closest to that: Wow. You just can't take anything on face value here. Hello thanks for that informative piece.. Steve. It might be an easier route to join a tutoring company. We would predominantly only hire Thai employees and I myself as a director, would be the only foreigner involved in running the company. To minimise cost, most operation will still be in my country.1. There are several types of companies to choose from when launching a business in this jurisdiction and some of the most popular ones are: limited liability companies, companies limited by guarantee, partnerships, sole traders, branches and subsidiaries. But there is hope, if you get a good lawyer. The country is well known for exporting computers, fishery products, textile, electrical appliances rice and automobiles. Once the Thai company registration is completed, most companies will probably want to open a corporate bank account in Thailand. StartupinThailand would be glad to assist you with initial handholding and support in operating your catering business if you so desire. What should we also be aware of this in terms of insurance and public liability? The bank will repossess the land from the owner, and then a court may rule that the bank has to honour your lease; at which point you negotiate with the bank on a monthly payment. If you want to put some cash in to help her get started and come to a personal arrangement over profit splits, that's up to you. The business would either direct with the company in Europe or through its agents. Do you have any knowledge on a foreigner owning a thai company having a company bank loan with no real capital except for the lease on the business they currently have.
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