Be it transferring from Koh Tao to Krabi, Phuket to Koh Phangan, or Koh Phi Phi to Phuket, ferry service is the most preferred. And something like this could be an interesting business venture for you too. However, it is still suggested to research well before planning to start one. Just so you know, to be able to open a business, you need to choose an entity. Though the limited company is the most desired by the foreigners, you can choose from the following;
- Thai Limited Liability Company
To start a Thai limited liability company there should be minimum 3 shareholders and 1 promoter.
- Thai BOI Company
Companies receiving BOI approval are exempted from the need to have a foreign business license and they are benefited from many tax and non-tax incentives.
- Amity Treaty LLC
Under the Amity Treaty, a business can be 100% foreign owned, meaning all the directors can be foreigners, provided they are US nationals.
- Thai Public Limited Company
A Thai Public Limited Company must have minimum 15 shareholders and 5 directors and half of them must be Thais.
- Branch Office
Multinationals can set-up a branch office in Thailand to accomplish a project, lasting for 5 years. Income derived from its activities is subjected to corporate income tax in Thailand.
- Representative Office
A representative office in Thailand can be 100% foreign owned. However, it cannot get involved into direct sales in the country.
- Regional Operating Headquarter
To have a control over subsidiaries in Asia a foreign company can establish a regional office in Thailand.
- Thailand Foundation
Foreigners can form a Thai private and charitable foundation, eligible to a CIT rate of 1%.
- Thailand Limited Partnership
Thailand Limited Partnership needs one limited partner and one general partner for registration.
