| Thailand Company Formation |
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Thailand company formation allows international entrepreneurs to legally conduct business in Thailand. Despite political instability in the country, Thailand company formation remains the key to doing business. The following information enables investors to determine whether Thailand company formation is the optimum corporate structure to fulfill international business objectives: |
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| Advantages of Thailand Company Formation | ||||||
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Thailand is a founder member of the Association of Southeast Asian Nations (ASEAN), thus Thailand company formation offers virtually unrestricted access to a potential ASEAN market of 500 million people. |
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Thailand company formation has no minimum capital requirements. Thailand company formation is simple and cost-effective. According to the 2010 Doing Business Survey by the World Bank, Thailand is the world's 12th easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business. |
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According to DTZ's 2010 Global Occupancy Cost Report, Thailand is the second cheapest place in the Asia Pacific region in regards to occupancy costs. Thailand, more specifically Bangkok has a total occupancy cost of US$23.20 per sq ft per annum; indicating that running a business would be substantially cheaper in Thailand compared to other countries in the region. |
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Thailand is a world-renowned tourist destination, as evidenced by Travel + Leisure magazine's 2010 World Best Awards readers survey. When asked which city in the world provided the best tourist experience, the magazine’s readers voted Bangkok as the best in the world and Chiang Mai as the second best. Thailand company formation can enable entrepreneurs to capitalize on Thailand’s world-class tourist economy. |
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Thailand has signed double taxation treaties with 53 countries to support Thailand company formation. A list of the countries can be found at the Revenue Department website. |
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Thailand's Board of Investment (BoI) provides a range of incentives to encourage Thailand company formation. For more information, follow this link. |
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Healy Consultants will open a Thai or international corporate bank account to support Thailand company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Disadvantages of Thailand Company Formation |
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A Thai company is required to submit annual tax returns and audited financial statements following Thailand company formation. Healy Consultants assists clients efficiently and effectively to complete this annual statutory obligation. |
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Thailand is negatively ranked as the world's 66th freest economy in the Heritage Foundation’s 2010 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets. Furthermore, Thailand ranks just 36th in the Global Competitiveness Report 2009-2010 compiled by the World Economic Forum. |
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Under existing Thailand company formation law, the rate of corporation tax is 30% on net profit for Thai company and 30% on profit from business in Thailand for a foreign company. However, some Thai companies do qualify for reduced corporate tax, more information can be found on the Thai revenue department website |
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Thailand's military government has proposed changes to the country's Foreign Business Act to restrict foreign ownership of Thai Companies. Thailand is ranked 84th least corrupt country in the world, according to the 2009 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians. |
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For a private limited company, a minimum of three shareholders is required. 100% foreign ownership is permitted, except for activities restricted to Thai nationals. Because of this statutory requirement, Thailand company formation becomes more expensive if nominee shareholders are required. All companies are required to keep a register of shareholders, which is available for public viewing. |
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| Contact Us | ||||||
For more information on Thailand company formation, contact email@healyconsultants.com or call us at (+65) 6735 0120. |
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| Back to Asia Pacific Company Incorporation page or back to Home page. | ||||||
Buy the Thailand chapter of Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail info@healyconsultants.com
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