Though deciding to start a business in a foreign land may seem to be an exciting venture, one cannot do away with the challenges it comes with; the primary being having a good understanding of the laws. The remaining has been listed below;
- Obtaining a construction permit can be a big challenge
It takes an average of 157 days to complete the entire procedure for completing the entire procedure. Things like inspections, permits and then approval all are processed by the local Metropolitan Authority. Your company will also require asking for the approval of the building controller.
- Arranging for electricity
Though it involves a relatively straightforward process, still it is one of the challenges as you need to seek permission from a government body who will give an estimate, conducts external connection works and then inspects the connection and install the meter. For your information, it is the Metropolitan Electricity Authority (MEA) who handles all of these.
- Registration of property
When it comes to this, the Ministry of Commerce and the Land Office are the two authorities you have to deal with. Though the procedure should take a couple of days only, having insufficient documents may lead to delay. So you must know what all you need to carry out the process.
- Not being allowed to invest in all the sectors
There are fields wherein the foreigners are not allowed to invest. But then again there’s nothing to worry much as these are usually low skilled field. The majority of the sectors that the expatriates want to venture into or are interested in, almost all of them can be explored.
- Language barrier
When investing in a foreign land, language is often a barrier. In Thailand, forms and instructions are all written in their language. You will therefore constantly need someone who can explain it to you in English.
- Thai culture
Apart from these, knowing about Thai culture is equally important. Since you are going to be a part of the country, you must at least know the basic etiquettes.
In order to deal with all these issues, it is always better to have an English-speaking professional by your side who can translate and explain things to you.
