I am a Foreigner in Thailand and Want to Set-up a Business There. Is it that Difficult as a Few Said?

Well, people do make a big deal out of it. Of course, it requires your time and patience, may more than what you need when starting a business in your home country. But that doesn’t mean that you will be spending your time in worrying what if things do not work. Doing business in Thailand would be different, clearly because it is an unknown land for you, but you can expect to have lesser hassles than any other countries. And why is that? Well, the people here are very accommodating and helpful. Besides, the government is extremely supportive of foreign investment. Just to encourage more investments, Thailand is offering lucrative incentives.

If you haven’t heard already, let me tell you that Thai government is working on their 4.0 policy and development of Eastern Economic Corridor. Investors setting up their business in the EEC provinces can expect huge tax benefits and a lot more than this. You will be delighted to know that in order to promote tourism and more business in Thailand, the government has very recently waived visa-on-arrivals fees for Indians.

If you have been thinking to start your business in Thailand since long time, this is probably the right time to get started. Below mentioned are the documents you will require to begin with the incorporation process.  

1. Name of the designated company (please provide 3 names);
2. Registered address (in Thailand) for your company (please provide a copy of the house registration);
3. Company’s objective (please provide full detail of your business functions);
4. Shareholders Information:
   1. Copy of passport of your 3 promoters/shareholder;
   2. Share allocation of each shareholder;
5. Directorship Information:
   1. Name of the Authorized Director(s);
   2. Copy of passport for each Director;
   3. Signatory condition of the director(s)
6. The number of foreigners (non-Thai) that you expected to have been working for this juristic entity.

While you may start the process all by yourself, it is suggested to have a legal expert by your side. There are times when you will need their constant help plus they can assist in fast-tracking the process and ensure that your project is not trapped in the legal nitty-gritty.