Source : Thailand Board of Investment
- Finding a right business partner
Finding a right business partner in Thailand is important. Their presence and local knowledge on local markers, business customs, costs of doing business, and business rules and regulation can help you to set up your business in Thailand successfully in the first place and to create options to develop your business model over time based on success.
- Registering a Business
There are various types of business entities which investors can set up in Thailand with Company limited being the most popular.
- Opening Bank Account For further information on names, addresses and websites of financial institutions, please visit the website of Bank of Thailand at https://www.bot.or.th/English/FinancialInstitutions/WebsiteFI/Pages/InstList.aspx.
- Getting Visa and Work Permit
The Foreign Working Act of 2008 requires all foreigners working in Thailand to obtain a work permit prior to starting work in Thailand and describes the procedure for issuance and maintenance of work permits and lists certain occupations from which the foreigners may be excluded.
- Obtaining Foreign Business License / Certificate
Thai law regulates the activities in which the companies designated as “foreigner” may engage in. While some activities are completely prohibited, some may be engaged in with prior approval from a designated government agency, and some do not require any special approval at all.
- Obtaining Manufacturing License
The Factory Act of 1992 (which replaces the Factory Act of 1969, 1975 and 1979) stipulates regulations for factory establishment and operation, factory expansion, and safety requirements. The latest revision of the Act also imposes strict controls on industry pollution. The Act is administered by the Department of Industrial Works of the Ministry of Industry.
A factory is defined as any premise that uses machinery equivalent to five horsepower or more, or that employs seven or more, with or without any machine, for manufacturing, producing, assembling, packing, repairing, maintaining, testing, improving, processing, conveying, storing or destroying anything included in the classes or types of factories presently listed in the Ministerial regulations.
The Act does not apply to the Government factory run by the Government for the purpose of national security and safety, except that such factories must use the criteria and procedures of the Act as guidelines for their operations.
For further information on this subject, please visit the website of the Department of Industrial Works at https://www.diw.go.th/hawk/default.php
- Knowing the Cost of Doing Business in Thailand
A list of typical costs of starting a business and operating a business in Thailand is accessible on the website of Thailand Board of Investment under the section of Cost of Doing Business in Thailand at https://www.boi.go.th/un/typical_costs_of_starting_and_operating_a_business_nonboi
- Industry Estates in Thailand
A list of all industry estates in Thailand is accessible on the website of Thailand Board of Investment under the section of Industry Estate in Thailand at
- SMART Visa
Thailand has been making a series of efforts in driving the economy through innovation. The Thai Government has taken another step to attract talents and technologies with a view to further developing its targeted industries or the so-called S-Curve industries. The SMART Visa program has then been designed to enhance Thailand’s attractiveness in drawing science and technology experts, senior executives, investors and startups. The program has been launched on February 1, 2018.
The SMART Visa is a new type of visa designed to attract highly skilled manpower and investors to help accelerate the development of the country’s targeted industries. SMART Visa is offered to foreign experts, executives, entrepreneurs, and investors who wish to enter the Kingdom of Thailand to work or to invest in the following “13 S-Curve industries” or the country’s targeted industries.
For further information on how to apply, qualifications, and visa issuance, please visit the website of Thailand’s SMART Visa at https://smart-visa.boi.go.th/smart/
Additional information on how to do business in Thailand and investment in Thailand including investment promotion, please visit the website of Thailand Board of Investment (BOI) at https://www.boi.go.th