Benefits to a foreigner to set up a company in Thailand

Fri, 08/28/2020 - 16:44 -- tilalegaladmin
As opposed to common belief, setting up a new business in Thailand, being a foreigner, comes with lots of perks and benefits. If you don't know already, most people who think of moving to a different country in Asia and look forward to establishing a company of their own, Thailand is, without a doubt, their first choice and justifiably so. If you are wondering what some of these advantages are, read on.

• Supportive government
The supportive government of Thailand that provides innumerable opportunities to magnetize more direct foreign investment is nothing less than a blessing. This is why the process of company registration in Thailand is fairly easy and hassle-free. Although if you are completely new and have no clue how the set up works, we would suggest you seek advice from a professional regarding your decisions to be on the safer side of the spectrum. Apart from this, the Thai government also runs several initiatives for improving the business scenario all year long. These ingenuities include formulating innovations and capitalizing on technological advancements to facilitate the smooth functioning of the businesses.

• The location
Owing to the volume of foreign tourists that Thailand attracts every year, it is regarded as one of the most advantageous countries for setting up businesses in all realms alike. The location of the nation plays an influential role in enhancing the business environment and allowing access to Asian free trade thus, opening doors to increased profits.

• Setting up a regional head office is a cakewalk
Loads of well-established foreign companies that enjoy a stronghold over the global market prefer shifting their head office to Thailand for various reasons. This implies that if you are planning to start afresh in Thailand, the rewards borne by your business will be twofold. If you have the regional head office in Thailand, you will be only taxed 10% of the income received from the other local or international branches. Furthermore, the additional Thai corporation charge will be removed in case of the dividends ensued by the international businesses of the same company. Lastly, Thailand if free from all sorts of overseas remittance laws and currency controls which could otherwise hamper efficient foreign trade.

• Affordable workforce
The population of Thailand is more than 70 million and more interestingly, the literacy rate is more than 92%. Therefore, it wouldn’t be difficult to guess that it will not only be incredibly stress-free for you to hire a standard-sized workforce but, you will also have access to people who are educated and have a strong understanding of the business you are dealing with. Additionally, the average daily wage of the workers lies between the window of a mere $6 and $8.

• Capital investment
The indispensable capital investment on the part of foreign investments can be perceived as a boon because the cost of operating business in Thailand is far less than the standard range in other developed countries. Furthermore, because most foreign currencies are stronger than the Thai baht, you can invest slightly more in your business than what you originally aimed for.

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