Thailand is one of the fastest growing economies in Southeast Asia and it has a huge array of benefits for businesses looking to set up here. Without further ado, we will quickly explore these reasons below.
Faster Setup
Although company registration in Thailand is not a lightning quick process, it is still preferable to the procedures one must complete in nations such as China, Malaysia, Vietnam and India. The World Bank previously awarded Thailand the highest index for disclosure of financial information and ownership to investors. All ownership statements and quarterly statements are published on the Stock Exchange of Thailand website. In summation, enforcement of transparency protects foreign investors in Thailand.
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Low Business Costs
Major cities such as New Delhi, Singapore and Shanghai were surveyed and it was found that the cost of A-grade office space in Bangkok was the cheapest. It is also a fact that renting industrial space outside Bangkok is significantly cheaper than in many of Thailand’s Southeast Asian rival nations. Investors know that the cost of skilled labor in Thailand is very reasonable and water and industrial electrical costs are also extremely competitive.
Thriving Economy
Thailand is part of the ASEAN economy which had a combined GDP of approximately $2.4 trillion in 2013. If it was recognized as a single economy, it would be rank #7 in the world. In terms of real GDP growth since 2000, ASEAN is ranked #3 with 5.1%.
As at 2013, ASEAN was home to the HQs of 74 of the Fortune Global 2000 and this number is increasing each year. 51 companies with at least $1 billion in revenue use Thailand as their HQ as it is beginning to rival Singapore as the powerhouse of ASEAN.
All of the above are clear reasons why so many businesses seek company registration in Thailand. You can register in a matter of weeks and have the opportunity to sell your merchandise in one of the world’s top 10 economic structures.
