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Startup Consulting in Thailand
Starting your business in an unknown territory, undoubtedly is a huge challenge and the foremost and mandatory thing is to get appraised of the local laws so that one does not get into a problem later on. For Starting up your business in
For Starting up your business in Thailand, you need to know the means of company registration, options available for registering a company, corporate laws, joint venture probabilities, licensing issues, tax implications, accounting procedures, staff obligations, Immigration processes, Work permit procedures etc. Often many business owners are mislead by wrong informations, so our intent is to provide you with the correct and expert guidance on these issues to justify your setup on a solid foundation. Understanding legal and operational procedures are of utmost importance in your business success in Thailand.
Often many business owners are mislead by wrong informations, so our intent is to provide you with the correct and expert guidance on these issues to justify your setup on a solid foundation. Understanding legal and operational procedures are of utmost importance in your business success in Thailand.
Startup Company Registration in Thailand
The most common way of starting in Thailand is to register a Thai company
and there are actually two ways to approach it. In both cases, a Thai company need to be registered but it could be either promoted by Board of Industry(BOI) or it may registered in DBD, under Ministry of Commerce.
To establish a Thai Limited company one needs three promoters, one of these three must be Thai. A Thai Limited Company must have a Thai national holding 51% of the company in term of share holding, which means that foreigners can hold only 49%. For registration, one must have a physical address, be it as a virtual office, serviced office or a rental office. A PO Box is not acceptable, specially when the company has to register for VAT.
One must be careful of trying not to register any company in a condominium as most juristic offices condemns and prohibits condominium address as a commercial address.
Normally, most people would like to register a Thai company with a minimum capital investment of 2 million THB. This is mandatory investment for any limited company, intending to have at least one foreigner working for them. For each foreigner working within the company one would require capitalization of 2 million THB.
Once the company is registered, then one needs to apply for the tax, VAT and also open a bank account. As a foreign Director, one would then be eligible for a working visa and a work permit. Through our panel of lawyers, our team help our clients with the best possible options for a professional operation.
For a comprehensive information about how to do business in Thailand and what are the basic guidelines, please download the Business in Thailand Guide
Visa & Work Permit for Startups
To startup a business in Thailand or even for a job opportunity, expats need a work permit. For companies promoted under Ministry of Commerce, it is mandatory for each work permit, the company must have a capital investment of Baht 2 million and employ atleast 4 Thai staffs in the organization. However, if the company is promoted thorough Board of Investment, the process is much more simpler and the company can issue much more work permits at a quicker pace.
Before applying for a work permit in Thailand, one must have a non-immigration(Non-B) visa. This visa can be acquired through Royal Thai embassy or consulate in any foreign country but must ensure that the validity of this visa is for 3 months at least, giving sufficient time for application.
We can assist you in the application of a work permit and will submit all necessary documentation to the Department of labor on your behalf. If submitted correctly an application can be processed in about 2 weeks or so.
Project Management in Thailand
Starting up in Thailand for any business is a Project of it’s own and it needs to be handled carefully keeping in mind the language barrier and cultural gaps. Often, our customers outsource their entire market penetration project.
Our adept project management centres on the planning and control of everything involved in delivering the end result – and it’s a process that every person on a project team needs to embrace, understand and execute, no matter the experience level.
Our project management competencies include :
• People management (customers, suppliers, interim personnels)
• Effective communication in Thai language (verbal and written)
• Planning and Influencing key persons
• Negotiation with key
Resolve unforeseen internal and external events impacting the project
• Conflict management
• Contract management
• Effective Time & Budget management – Implementing things faster, on time & budget, meeting customer expectations.
We bear ultimate responsibility to make things happen in this alien country, despite all odds. Traditionally, we carry out this role as mere implementers on your behalf. Often it may so happen that there maybe some requirements of technical or domain persons from your specific industry, which are hired locally on temporary basis to execute the project, ensuring success.
In addition to their traditional skills, our team supports with business skills, customer relations skills, and political skills, to create
an environment to achieve a particular goal or objective – in a controlled manner.
Market Research in Thailand
Gain a competitive edge and stay ahead of business trends with Startup in thailand market research. This service is ideal for companies who has already made decision to open their own branch in Thailand but need some initial support to startup and consolidate their business activities. We offer time specific, precise consulting on Country laws, Market barriers, Market research, Company Incorporation, Human Resources and local Marketing initiatives.
Why our market research is important to your business in Thailand ? This will help you to :
Identify the market potential of your products or services
Minimize risk when considering a new market entry
Observe trends or changes in buying habits
Understand your overall market position
Spot opportunities in existing markets
We provide tailor-made market research, fully flexible as per your demand and satisfaction.
Whether you are skeptical about a Joint Venture in an alien country, desiring more factual informations about the proposed partner or whether you are looking for a buy out of an existing business in Thailand, it is equally important to do a proper due diligence before moving ahead.
We provide a comprehensive appraisal of a business undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential.
For Investors, thinking of participating in a Thai Startup, we provide the due diligence services to the investors, committing on investment protection by exploring details about entrepreneurs or companies, making it risk free for them.
Practices employed by early-stage investors are quite diverse. While some like to make a small initial investment to get to know how the entrepreneur operates, other members follow a rigorous due diligence process before they consider deploying any capital. It brings discipline to the investment process and it helps you get the important things right.
Some of the Areas where we carry due diligence are :
- Management and Share ownership
- Balance Sheet examination
- Competitors and Industries
- Revenues, Profit and Margin trends
- Stock price analysis
- Goals & Objectives
- Risks & Mitigations