Thailand Welcomes Young Entrepreneurial Talents
It is great to see that youngsters are taking more interest in starting a business in Thailand. Apparently, their sense of freedom is way more than the veterans. And Thailand being an ever-welcoming country to foreign investments, they are not leaving any stone unturned in encouraging young entrepreneurs. Mr. Jack Ma, the Founder and Executive Chairman of the Alibaba Group recently gave a speech on supporting young entrepreneurs. The conference was held at the Ministry of Foreign Affairs of Thailand where he spoke of his passion for motivating startups and aspiring young businessmen in contributing to the business chain.
He added more while talking about his humble background and his endless trials to overcome failures. He advised the youngsters to be open-minded and to trust their own instincts. Even though money is an important factor, it should be the only motivator to succeed. To do business one needs to be passionate and must have faith in his/her works.
While saying so, Mr. Ma indicated Thailand having all the components to succeed. As for him, he said that he was extremely motivated by the vision and the innovative thinking of the Thais. In the 2nd Cooperation Dialogue Summit, he spoke to the Asian leaders and encouraged the government policies to facilitate the young thinkers in order to drive economic success.
If you are looking to do business in Thailand and money is what stopping you, let me tell you it won’t be a barrier. There are so many big companies in Thailand who are ready to provide financial support to the SMEs. As far as your entry in Thailand is concerned you will need to get a 90-day business visa. However, the Thai Bureau of Immigration will need to examine the documents and evidence in order to ensure that there is a Thai company who is sponsoring a year’s visa extension.
As for the documents, you must compile minimum past three months balance sheets, employment withholding tax filing, and social security fee payments. Apart from these requirements, it is recommended to the business owner to hit the ground running. However, to ensure long-term visa extension one must show evidence that he/she is establishing a branch office in Thailand on behalf of the international company. If you are really interested in setting up your business in Thailand, then we can give you an end-to-end solution, including finding resources to deal with all the legal formalities.
