Small business setup in Thailand
Thailand offers a favorable environment for small businesses, with a thriving tourism sector, economic stability, and a range of opportunities in tourism, manufacturing, and services. We specialize in supporting start-up and expanding small businesses, utilizing our expertise in the regional market and company formation to facilitate the launch of your enterprise in Thailand. Let’s explore the benefits of starting a small business in Thailand and how our specialized solutions can help ensure your success.
Formalities and procedure
Registering a small enterprise in Thailand can be done in a few weeks, as it includes various steps.
Choose a business name
The name of the business must be original and not currently being used. To verify if a name is available, it can be checked on the Thailand Trade Registry’s website.
Select legal entity type
Choosing the right legal framework is crucial for the prosperity of your small business. Our expert guidance on Private Company Limited by Shares, Public Limited Company, Branch Office, and Holding Company will assist you in making a knowledgeable decision that fits your unique needs and future goals.
Set up legal address
It is crucial to have a legal address when launching a business because it acts as the primary point of contact for government agencies, legal authorities, and important business communication. Selecting a legal address that complies with local regulations and fits your business needs is extremely important.
Get the necessary paperwork ready
Our expert team will assist you in developing detailed and tailored documentation that aligns with your company’s structure and objectives. We ensure compliance with all legal requirements and will handle the submission procedure on your behalf.
Open a bank account
Starting a business in Thailand necessitates having a corporate bank account. We will guide you through the entire procedure to make sure you adhere to the rules and aid you in opening a bank account with a respected financial institution in Thailand for your small business transactions.
Company registration
We take care of registering your business with agencies such as the Trade and Companies Register and tax authorities, saving you from the administrative hassle. This ensures that your small business is recognized and compliant with the law from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial records. Our team of accounting professionals is available to assist in setting up efficient accounting and bookkeeping processes that adhere to the laws of Thailand.
Small business examples
Small businesses operate in various industries and sectors, each with their own specialized requirements. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Thailand
Thailand is an attractive place for starting a small business, providing numerous benefits.
Strategic location
Thailand offers a strong tourism industry, economic stability, and prospects in tourism, manufacturing, and services for businesses seeking opportunities in a stable and appealing market. With a wealth of cultural heritage, beautiful beaches, and government incentives for foreign investment, Thailand provides many benefits for companies wanting to enter the region.
Favorable tax regime
Thailand offers a flat corporate income tax rate of 20% and provides incentives for investments in specific industries, along with tax exemptions in designated zones. Its strategic location in Southeast Asia and diverse economy make it an attractive destination for businesses.
Banking
The banking system in Thailand offers stability and a variety of financial services and investment opportunities, which attracts investors looking for secure banking options in a stable and appealing market.
Our small business setup solutions
We understand the value of your time and resources. That is why we offer two convenient choices to streamline the process of establishing a company.
Business formation online
By utilizing the Thailand’s online platform, individuals are able to start and finalize the process of starting a business from any location in the world. The option to track progress, turn in necessary paperwork, and access our services via secure digital channels guarantees a seamless and convenient process.
Business formation remotely
If you would rather not be involved in the paperwork process, our team of experts is here to assist. They will manage all necessary formalities, fill out the required paperwork, and communicate with the appropriate authorities on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.