This means that foreigners can only own up to 49% of a Thai company. The 49% limit for certain business activities can be exceeded or exempted if a Foreign Business License is granted. A Foreign Business License is generally granted to foreign-owned businesses that are unique and do not compete with Thai businesses.
How much does it cost to start a business in Thailand?
As it currently stands, the minimum capital requirement for a Thai majority shareholder company (limited) is 2 million Baht, with a government set up fee of roughly 7,000 Baht. If you have a Thai spouse, this requirement is reduced to 1 million Baht.
What’s the best business to start in Thailand?
Top 10 Business Opportunities in Thailand
- Import and Export Company.
- IT Consulting Business.
- Translation Services Business.
- Create a Catering Company.
- Real Estate Company.
- Healthcare Services Business.
- Opening a Resort.
- Travel and Tour Companies.
How can I start a small business in Thailand?
The Step-by-Step Guide to Starting a Business in Thailand
- Pick a Type of Business.
- Check Out Thailand’s Foreign Business Act.
- Learn About Incentives and Benefits Provided by the BOI.
- Apply for Visa and Work Permits.
- Register Your Company.
- Sort Out Your Paid-Up Capital and Open a Bank Account.
Where is the best place to start a business in Thailand?
Asoke (Bangkok) is hub of business, with hundreds of thousands flooding into the area by BTS or MRT to work every day. 1. What law governs setting up a business in Thailand? Foreign business in Thailand is governed by the The Foreign Business Act of 1999, set up by the recently deceased His Majesty King Bhumibol Adulyadej.
Do you need a FBL to start a business in Thailand?
A Foreign Business License can be loosely understood as a Work Permit for companies. Just as foreigners in Thailand can only engage in certain occupations and are required to have a Work Permit to be able to work, foreign companies can also operate merely in the selected categories and need an FBL.
What are the benefits of owning a business in Thailand?
Another benefit from having Thai partners is that a Thai majority company is able to purchase land, should the need arise. Buying property while in a Thai partnership, as a foreign investor, is a fairly common practice in Thailand. Should you choose this route, maintaining regular compliance of the company would be paramount.
Can a foreigner carry out business in Thailand?
There is no general prohibition against foreigners carrying out business in Thailand. However, foreigners cannot engage in the following: Forestry and the processing of wood from forests (naturally grown) Fishery, only in relation to marine life in Thai waters and the specific economic zone
