Why prefer Thailand for doing a new business?
When a businessman decides to set up a business in Thailand, it is a big decision that he takes. And the very first question that arises in the mind is ‘what are the benefits of doing business in Thailand?’
Well, we have the answer for you… The Kingdom of Thailand is a fast growing industrialized economy and is considered an important FDI destination. It provides ample scope for foreign investors and businessmen, not only in terms of sufficient business opportunities but also other benefits like incentives, etc; that they can avail.
Though, starting a new foreign business in Thailand may seem to be a little difficult and time consuming in the beginning (as you won’t be much familiar with the country’s laws), but they are extremely receptive to foreign businesses and hence offer significant advantages also that will help your business in the long run.
Below we have compiled a list of benefits that you can enjoy while doing business in the land of smiles/free – Thailand:
- Clear legal process: According to a recently published report, Thailand has ranked the 17th easiest place to do business in the entire world. From form fill ups to costs involved, the procedure is comparatively easier than other places. Taking help of a Thai legal advisor or expert is advised to complete all procedures with ease.
- Conveyance made easy: Thailand has a good transportation system which helps businessmen continue their work with ease and thus encourages them to make further investments.
- Fair taxation: Thailand has witnessed a growing rate of economic activities recently because it grants another advantage to businessmen and investors i.e. reasonable corporate tax ranging from 10 to 20% depending on the profits. Hence, it ranks as the second lowest in the ASEAN countries.
- Affordable business cost:
- Sustainable tourism sector: Thailand is a worldwide famous and reasonable tourist destination, which is a good determinant for expats doing business there – it helps attract many potential international customers throughout the year.
There are some more advantages mentioned below, though minor but important enough to affect your business.
- Ideally located in the center of Asia
- You will find a large community of expats from all over the world
- Abundant and affordable skilled labour
- Relatively free economy for small & medium businesses
- Good market for export business
- Low cost of living
With the growing rate of middle-class families in Thailand, their spending has increased generously. Hence doing business in the country can not only let you enjoy good profits from both locals and tourists but also enjoy the country’s rich heritage and beauty.
