Thai Small Business – Setting Up in Thailand. We strongly suggest that you seek professional legal and accounting advice prior to establishing a business in Thailand. In many cases, the company must be no more than 49 per cent owned by a foreign entity, with the majority owned by Thais. However, exceptions for majority foreign ownership exist for certain types of industries and are often granted for projects approved by the Thai Board of Investment. The Thai Board of Investment provides more detailed information about establishing a business. Professional service firms also offer their own guides to setting up and doing business in Thailand. If you think you’re ready to start your business, here’s a an overview of resources you may need to use in order to make it happen.
Thai Small Business Setup – Banks
Banks in Thailand. While many entrepreneurs put their own money into their new companies, it’s very possible that you’ll need financial assistance. A commercial loan through a bank is a good starting point, although these are often difficult to secure. The following banks provide full banking services in Thailand:
- Bangkok Bank
- Kasikorn Bank
- Siam Commercial Bank (SCB)
- Krungthai Bank
- TMB Bank
- Bank of Ayudhya
- Thanachart Bank
- Kiatnakin Bank
- CIMB Bank
- Standard Chartered Thailand
Thailand Government, Business and Trade
Government, Business and Trade. To become an officially recognized business entity, you must register with the government. Corporations will need a document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, or the name you’ve come up with for your company. The Thai Government, Business and Trade organisations are:
- Thailand Board of Investment
- Ministry of Commerce
- Ministry of Finance
- Ministry of Industry
- Thai Chamber of Commerce
News and Media in Thailand
Media – Thailand Small Business. Newspapers and Radio News
- Bangkok Post
- The Nation
Thailand and ASEAN – Asia (AEC)
Thailand – ASEAN Ten Countries (AEC) which comprises of all the major nations in Southeast Asia. The goal of establishing Asean Economic Community (AEC) is to transform the region into a single market and production base with a highly competitive advantage to make it a stable and prosperous region. The countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. You can find 20+ more countries in Asia information by following the link. Return to our Cambodia, Laos, Myanmar, Vietnam, Thailand main page to find more regions and posts about entrepreneurs and small business in ASEAN, Asia and around the world.
If you liked this post, you may also be interested in reading:
– 5 Important Young Thai Entrepreneurs under 30
– Doing Business in Thailand
– Thailand Franchise Opportunity
– Thailand Jobs for Foreigners
– Thailand Online Video Marketing Guide
– Thailand Small Business Opportunities and Ideas
Guest Bloggers and Contributors Welcome: Would you like to contribute to our all-round small business blog? Please just contact us.
One thought on “Thai Small Business – Setting Up in Thailand”