Thailand Market Entry
As a new entrant in Thailand, any company would like to seek advice to guide them through the different intricacies of setting up things which can often be not only quite time consuming but difficult to execute otherwise. We provide all services that help you to understand how to start a business in Thailand.
These services are typically one time activity for any company and we deliver these services as per their requirements on turnkey basis within a stipulated time.
- 1 Thailand Market Research
- 2 Due Dilligence
- 3 Company Registration
- 4 Startup Company Registration in Thailand
- 5 Visa / Work permit for Startups
- 6 BOI Consulting
- 7 Recruitment Support
- 8 Factory setup
- 9 Project Management in Thailand
Thailand Market Research
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.
Entering a foreign land for opening a business in Thailand is a big challenge. You may not be aware of the pitfalls that you might get into. Every organization requires in-depth information and thorough market research for succeeding with its business plan and with our services play you can reach newer heights of business success.
Why market research in Thailand is important to your business ?
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.
Our Market Research Services include
- Industry Study – specific to Thailand and region
- Product Launch Feasibility
- Studying Consumer Behaviour
- Target Market Analysis
Apart from the above, if you need to penetrate Thailand market with some business development activities, we have a comprehensive range of sales & marketing you services to provide you ‘Just What you Need’
In today’s fast-paced business environment, organizations are faced with the increasing challenge of managing regulatory, reputation, and compliance risks while trying to build and grow their business. This is particularly true when you are
We provide Due Dilligence reports with comprehensive background information on companies or individuals in Thailand. Enhanced due diligence reports include location confirmation, and collection and verification of all data relevant to the company’s reputation.
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
If you are interested to know more about our Legal assistance, please read more here.
Thailand is a growing center for Asia and once a business is set up here they can realize their businesses’ true mission.
Rules and instructions are in abundance – and also usually only in the Thai language. All forms submitted to the government are in Thai. This requires a lot of adjusting to make your own company’s paperwork fit Thailand’s government and instructions.
Thailand laws are centered around Thais. A Thai person must be signed on as the majority of the ownership of the company. This means that the company cannot be owned by more than 49% of foreigners – in most cases and the minimum investment needed in Baht 2 million or approx USD 68,000 with minimum 3 Shareholders. There are always exceptions to the rules. Majority of foreign ownership requires an Alien Business license also known as a Foreign Business License, which is distributed from the Ministry of Commerce. This is based upon very large investments of money as well as large numbers of Thais to be employed.
We can assist in getting you in doing business in Thailand by providing the right startup consulting and registering your company whether it is a Thai Limited Company, representative company or a US subsidiary through Amity Treaty. The various kind of options of registering a company whether it is a Thai Limited Company, Representative company or a US subsidiary through Amity Treaty, we provide all options through our Startup Consulting.
More Details about Company registrations can be found at our legal assistance page
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
Whether it is an established foreign corporation or an individual starting up their business in Thailand, it is mandatory for any individual to have the correct Business Visa for Thailand (Non B Immigrant) and valid Work Permit to do any business in Thailand.
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.
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.
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.
Many startup entrepreneurs are tempted to start their business from their residence to keep the costs down but let us warn that the Thai Government is against that and to do business in Thailand, it is important to have your office in a commercial building or a serviced office with proper infrastructure and relevant number of Thai employees to backup your Work Permit status.
Read all about Work Permit / Visa procedures here
Most foreign companies are quite awed by the fantastic promotions offered by Board of Investments specially on the Tax free benefits, 100% foreign ownership and the easy option of bringing foreigners to work in Thailand. So it is quite justifiable to opt for a BOI license if possible at an early phase of the Startup in Thailand.
As a startup specialist, we can assist you in application of BOI and guide you through all the procedures for a successful application. Contact us for knowing what are your best options – whether showing your project with some new product development or maybe through enough investments by putting up a manufacturing factory which would employ hundreds of Thai workers or any other options.
To know more about Board of Investment, click here
Professional and skilled manpower is vital for any startup business success, especially if the persons are hired from the same industry. In Thailand’s high demand, low availability of good local talents, it becomes extremely challenging for any foreigner to recruit and more so to retain people. People management and handling cultural gaps often becomes an issue for foreign companies trying to establish business in Thailand.
Finding the right team to get the right job done is our specialty. We have a full fledged recruitment division which identifies the right candidates for our customers and then depending on their need and options, we hire them on our payroll or theirs. With our two decades of recruitment experience, we ensure committed professionals, with excellent working experience and good attitude.
Right person at the right time to get the right job done is our customer’s roadway to business success. Not only recruitment, our HR division provides HR strategy, training and other consulting services which often determines the success criteria for any startup project. For more information about recruitment division, please check out www.interactiverecruiters.com
In tune with our diverse industry experience, we also help you set up factories from scratch with local domain experts which provide immense value and ensures total success to your startup project. Depending on the nature of business and customer’s vision, we formulate a startup plan which encompasses from concept to implementation of any factory setup. As a part of our startup consulting services, we assist our customers to locate specific places for suitable factory sheds, contractors to build up the structures, importing and erection of machines, setup utilities, select skilled technical resources, identify domain person with strong knowledge of the industry etc. Skilled labour and selection of right manpower is easily done through our in house recruitment services.
Normally, most manufacturing projects can be applied through Board of Investments (BOI), if it meets specified criteria and then companies can get lucrative incentives like land benefits, imported machinery, tax free incomes, unlimited work permits etc and as advisers we can assist in project consultancy through our market entry services.
Please read our Thailand Market Entry Services e to check out the startup consulting scope of work that we offer.
We offer Virtual Director services to our customers who are in need of an operation expert, to run their factory on their behalf. The Virtual Director, having local domain knowledge and process improvement capabilities, take up full ownership in running your operations as an optimized unit , ensuring ROI at a lesser time. Read more about Virtual Director here
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.
Check out our industry domains section where you would find the different industries that offer vast business opportunities in Thailand.
When retained by a corporation, our role is to assist the Company and its Board of Directors to face the challenges involved with local operations setup including Infrastructure & Operations, Recruitment, Business Development and cope up with all Legal and retention issues. We are focused to determine the right direction for their business focus in Thailand.
We are one of the leading startup consulting firms in thailand whose focus is to provide 360 degree business consulting support to our clients by consulting them in areas of investment opportunities in Thailand, business development in asia, recruitment, starting business in Thailand or being a Thailand representative. Contact us for more details.
If you have already decided to startup a new business or expand your existing business to Thailand, but you are not sure the way to go, check out our FREE online consultancy and also earn a free ebook as your helping guide for doing business in Asia.