Investing in Business here in Thailand Basic Advice

  • Decide on the legal structure for your business, such as a limited company, branch office, joint venture, or representative office.
  • Most foreign investors opt for a private limited company due to its simplicity and flexibility
  • Reserve a company name and register your business with the Department of Business Development (DBD) at the Ministry of Commerce.
  • Obtain a Foreign Business License (if applicable) from the Department of Business Development for businesses restricted by the Foreign Business Act.
  • Private limited companies require a minimum registered capital of ฿2 million, with at least 25% of the shares paid up.
  • However, the actual capitalization may vary depending on the business activities and BOI promotion privileges.
  • Register for tax identification (Tax ID) with the Revenue Department.
  • Register for Value-Added Tax (VAT) if your business turnover exceeds the threshold set by the Revenue Department.
  • Obtain a work permit and non-immigrant visa for yourself and any foreign employees through the Department of Employment.
  • Different types of visas are available depending on the purpose of stay (e.g., business, investment, employment).
  • Foreigners are generally prohibited from owning land in Thailand, but there are exceptions for certain industries or investment promotion schemes.
  • Consider leasing land or property for your business operations
  • If acquiring an existing business, conduct thorough due diligence on its financial, legal, and operational aspects.
  • Engage legal and financial advisors to review contracts, agreements, and liabilities.
  • Transfer ownership of the business through a share purchase agreement or asset sale agreement.
  • Update registrations, licenses, and permits under the new ownership.
  • Ensure compliance with Thai laws and regulations governing accounting, tax, labor, and other aspects of business operations.
  • Submit annual financial statements, tax returns, and other required reports to relevant authorities.
  • Engage legal advisors, accountants, and business consultants with expertise in Thai laws and regulations.
  • Local expertise can help navigate the complexities of setting up or buying a business in Thailand.

It’s important to note that regulations and procedures may vary depending on the type of business, industry, and specific circumstances. Consulting with professionals and conducting thorough research is essential for a successful business setup or acquisition in Thailand.

Need advice on setting up your new business venture here in Thailand we can help