Upon first moving to a foreign land, it can sometimes feel like being trapped in a slow-motion movie. Same can happen with you too, but deciding to set up a business in Thailand makes the process a little easier.
How?
Let’s take the government policies for example. Thailand’s well-defined investment policies focus on the liberalization while encouraging free trade. Foreign investments, particularly the ones that contribute to the development of skills, innovation and technology are actively promoted by the government. Besides, the country ranks among the top investment locations internationally.
In fact, through the Board of Investment, the Thai government offers a wide range of tax incentives, import duty exemptions or reductions and support services to a list of promoted activities. Companies that receive investment promotion privilege from BOI are not restricted to foreign equity restrictions.
This being a brief of the investment part, let’s find out how to set-up your workspace in Thailand.
You are likely to succeed with an orderly and professional manner
The best way is to create a workstation in your rented house or condo in Thailand instead of trying to work from a cafeteria with post-it notes and papers. In fact, when you are planning to do business in the country you will anyway have to find a shelter to live in. While buying a house in Thailand can be costly for you initially and involves a lot of legal nitty-gritty, renting will be a lot easier and pocket-friendlier on your part.
Of course, you can rent both an office space and house. There are ample fully furnished office spaces in Thailand, that too, at quite a competitive price. But at my suggestion, if you do not have much capital, then it is always wiser to rent a house or condo and set-up a workspace there to operate your business. That way you need not pay double rent. And when you have enough to spare you can always choose to rent an office space, separately. However, it is entirely your call in the end.
But, yes, if you feel that your home environment is not suitable enough for the functioning of an office, then consider renting a separate space outside. As mentioned earlier, in Thailand it is less costly to rent a separate space than you might first imagine.
For example, if you do share trading, it will be tense for sure. And therefore, it makes all the sense to have your home and office separated if alternative sees you snapping at your kids when distracted at critical moments.
So, what you need to set-up an office apart from a space
- Furniture; that you will get in the local market,
- Air conditioner; without which you will be dripping sweat over the business papers.
Last but not the least internet access as everything today revolves around it. Well, if your business is heavily reliant on the internet, then this is one of the most critical criterions when choosing your residential-cum-office space/workstation. Additionally, switching to business service for internet will possibly secure faster and reliable connectivity.
