If you are planning to start your business in Thailand, you must have a clear idea of the cost associated with its starting and operation in Thailand. This article intends to present you with a clear idea of the various mandatory costs that are unavoidable in the process of starting and doing business in Thailand.
Cost of Starting a Business in Thailand
To start with, let us disclose the approximate cost of starting your business in Thailand. We always advise you to get in touch with a reliable corporate law firm in Thailand before you proceed with the company registration process. Furthermore, there are genuine legal firms in Thailand to help business owners, especially foreigners, in the process of company incorporation in Thailand.
Legal Firm Consulting and Service Fees for New Business in Thailand
Based on the level of service and years of expertise, the professional fees of legal firms in Thailand may vary accordingly. The following table will give you the closest figures that a reliable law firm in Thailand can charge for their services.
The fees in the table are as per the ongoing market pricing policies of law firms in Thailand (as on April 2023) and are subject to change. Furthermore, the prices may go below or above the range depending upon the type of business and the extent of service you want to seek for.
Government Fees for Business Registration in Thailand
The government fees for starting a business in Thailand depend greatly on the amount of registered capital. Furthermore, the amount of registration is also dependent on the type of ownership, that is, whether the company formed will be of Thai ownership or foreign ownership. The following table will help you with the most relevant information.
However, if you are planning to start any industrial or manufacturing business, there is an additional cost of a Factory license in Thailand. It is approximately 100,000 Thai Baht.
Additional Government Fees for Foreign Investors
If you are a foreign investor planning to start a business in Thailand, along with the above expenses, there are some additional costs associated. These are in regard to your immigration process to Thailand. Be it your work permit or for every single worker you bring into Thailand, you can never ignore these costs as your investment in your Thai business.
Construction Setup Cost To Start Business in Thailand
Instead of hiring any business or commercial space, if you want to construct your own, then that is going to add to the initial costs of company setup in Thailand. The mandatory expenses associated with his purpose are as follows:
Cost of Doing Business in Thailand
This cost or expense completely depends upon the type of business you are planning to start in Thailand. For example, if you are planning to start a manufacturing plant in Thailand, the operational expense will be very much different that that of an IT firm. However, to present you with an approximate idea, we are sharing the figures of the most unavoidable expenses that hold true for all types of businesses in Thailand.
Depending upon the type of business you are planning to do in Thailand, these operation costs will be subject to increase or decrease. Additionally, there are some privileges and exemptions that can help you save these expenses.
For example, if you start your business in any Free Trade or Special Economy Zones in Thailand, you will be eligible to get exemptions in the electricity and water consumption bills. The same is applicable if you receive a Board of Investment Promotion in Thailand. In both cases, your business must focus on the target industries of Thailand as defined by the Department of Business Development.
If you are a foreign investor, it may be difficult for you to know all the details of these regulations. Sometimes, the challenges are faced by local Thai business owners as well. Therefore, to avoid all these atrocities, consult with a leading local Thai Corporate Law Firm. Email us your business idea at [email protected] and we will help you find the most economical way of starting and doing business in Thailand.
