The education sector is one of the most important building blocks for Thailand's economy. It does not just support the growth rate; rather, works as a major source for nurturing talent from different corners of the world.
Reports reveal that Economic Development Board in Thailand launched a Global Schoolhouse initiative in the year 2002 with a goal to convert Thailand into a famous education hub. At present, there are more than 1200 private educational organizations and they offer an extensive range of educational courses and services while proving Thailand as the top-rated country in the education sector. Along with the academic education, the new generations in Thailand are also looking for some skill-based and vocational education including fine arts, gaming, and culinary arts.
If you are also planning to set up a private educational institution in Thailand, this article may help you better make up your mind. As there are plenty of lucrative and attractive options for leading educational institutions in the country, a higher number of foreign investors and existing educational institutions are making efforts to take advantage of this market. Several competitors are already making efforts to set up nonacademic and academic schools, childcare centers, nurseries, kindergartens, and other related facilities. These diverse players are making efforts to streamline the education system in Thailand. However, they are required to fulfill government regulations and guidelines to lead the business in the country.
Steps to set up a private educational institute in Thailand
Go through the steps below to set up an educational institute in Thailand:
Step 1: Understand regulatory requirements
Before setting up an educational institute in Thailand, you must review and understand regulatory requirements relevant to the type, of course, you want to offer. It is advised to conduct a detailed market study focusing on the student base. You should make efforts to analyze key success factors and risk areas to complete financial projections.
Step 2: Business incorporation
As soon as you have decided to move further, it is time to incorporate your business. It is better to choose the most suitable legal entity which is a private limited company. The process to set up such a business is pretty simple. The local agencies can guide you better with the entire process to do company registration Thailand.
Step 3: Get ready for operations
After incorporating a company, you can start operations in the country. However, there are plenty of important things that you need to handle before enrolling students in your institution. First of all, you have to find suitable premises for conducting educational activities. You can buy or rent premises and then conduct necessary renovation work to meet your requirements. The second important task is to hire qualified staff and faculty members. Make sure that your teaching staff meets all the necessary qualification requirements and can maintain the desired level of education at your institution. You may also need to apply for a few necessary licenses to proceed further.
After this, you can work towards the accreditation-related formalities and ultimately start enrolling students into different courses.