7 Reasons To Choose Thailand For Expanding Your Business

If you are thinking of doing business in Thailand, you might be aware of the opportunities the market offers. In comparison to other countries, Thailand’s stability in politics, social and economic situation, work ethics and government support are some of its main advantages. In fact, the Royal Thai Government has been maintaining an open, market-oriented economy so as to encourage more foreign direct investments and to promote economic development, technology transfer and employment.

However, coming to doing business, people spend almost a decade in learning the proper way. And when you are thinking of investing in a foreign land, the uncertainties are even more.

Let’s have a look why should you choose doing Thailand business;

Relatively Low Wages

Typically, the daily wage differs according to the skill and experience. But when compared to other, they are quite low as the starting salary is $8.5 for most laborers.

Way to Asia                   

Thailand is nestled in a strategic location, offering a convenient trade with China, India, and ASEAN countries.

Growing Economy

Steady growth, domestic consumer market, and strong exports characterize Thailand. Besides, the country is brimming with abundant natural resources and cost-efficient workforce. These days, you can get access to seven major international airports. Moreover, you can enjoy 4G/Wi-Fi access all throughout the country.

FDI Policies

Foreign businesses in Thailand that contribute to the development of technology, skills, and innovations are promoted by the government.

Incentives for Foreign Investors

The Board of Investment in Thailand offers a wide variety of tax incentives, support services and import duty exemptions to the foreign investors.

Easy Process to Set Up Your Thai Business

• Get Your Business License: Prior to submitting documents for registration, you must provide a proposed name for your company. Of course, that should not match with any other registered business’ name.
• Hire Employees: You will find many qualified employees for the company, so you need not worry about recruitment
• Visa and Work Permit: You must register your company with the Department of Business Development to obtain a necessary visa as well as a work permit.
• Tax Registration: You must get a tax I.D. card and number from the Revenue Department within sixty days of inception of the business.

Corporate Governance

Thailand exercises a strong corporate governance to ensure transparency and accountability.