There’s little wonder that investors and people with skills decide that they wish to set up a business in Thailand. The Land of Smiles attracts millions of visitors each year, enchanted by its culture, warm hospitality, incredible food, agreeable climate, and dramatic scenery as well as offering outstanding value for money. Who wouldn’t want to settle there?
Of course, like all great ideas, there’s far more to it than just flying into Bangkok and getting started, which is exactly why letting a professional company with years of experience assist any company formations.
Without the right knowledge, someone wanting to set up in Thailand can take ages, not understanding the pitfalls and requirements, and going around in circles. Compare that to using experts in such matters who can have a new business up and running in just 7 days without any hassle. Any business requires an address by law, and one can be provided either virtual or a registered property.
Understanding registered capital isn’t always easy, but having professionals taking care of it alleviates any misunderstandings as everything will be explained and arranged, such as work permits for each employee. Any company requires one director, and again the best advice can be provided along with outlining what is needed so that any appointment is made appropriately. 2 shareholders are also a necessity, so with this in mind, advice on forming the right shareholding structure will prove invaluable. It allows an owner to look ahead and consider what to do to improve happiness in the workplace.
While each business is automatically registered for tax purposes, those that generate more than 1.8 THB annually and employ staff from overseas are also required to register for VAT, another sometimes difficult process without local knowledge. As does registering all employees at the Social Services Office, so that they can receive social security benefits when required.
Another service that can be provided by those in the know, is checking out whether the investor will require a business license for their operation, while any relevant licenses can be obtained. Those that will be foreign majority-owned also require a Foreign Business License, which can again be obtained in the shortest possible time, along with visas and additional work permits.
As well as setting up the business in the attractive location those that require accounting services of the highest level where a trusting relationship will assist immensely those on foreign shores. Ensuring a business is fully compliant also provides peace of mind while staying on the right side of the law. Perhaps time saved will allow for a cultural day out in a nearby city.
Obtaining a Thai domain for the business website can be arranged, as well as protecting company assets with copyright, trademarks, and patents. A range of structures are available with the best advice always provided along with a free initial consultation.
Setting up a business in Thailand is not easy unless using the highest quality services of professionals who will save time and money and ensure all correct procedures are followed.