Why Do Business in Thailand

Low cost of running business and easy-to-meet regulatory requirements are some of the reasons why most entrepreneurs prefer doing business in Thailand.

Are you looking to invest in Southeast India? If the answer is yes then you must consider the following factors before you take a decision.

Macroeconomic environment of Thailand

Many reports done by global organizations like the World Bank talk about improving macroeconomic environment of Thailand. This improvement is because of low inflation, declining government budget deficits, and improving national savings. This means that the growth prospects for those doing business in Thailand are also strong. Thailand is characterized by simulating economy that makes Thailand a destination to be in for any business.

Cost of Living
When compared with other countries in the region such as Singapore, Malaysia, China, India, and Vietnam, cost of living in Thailand is way less than the other countries. This, in turn, means that for you to run business in Thailand are way lower. The cost of office space and other resources required to run office are less than other places. Low cost of living also means that you can provide world-class lifestyle to your expatriates at a very low cost.

Low Cost of Setting Up a Business

Starting a business is as easy as it is cost-effective. To begin with, you can start business in a matter of weeks. The process is just requires you to complete two processes and submit the required documents.  Once you have done that, you are more or less ready to go. To top it all, the fee you have to pay to register and run your business is way lesser than what you pay in other countries. In Thailand, you pay less than 10% of your business’ registered value. The less time to start your business and the low cost make Thailand a lucrative destination to do business.

Financial Transparency

Apart from low costs and easy processes, Thailand offers regulatory and financial transparency which is almost impossible to achieve in any other country in the region. Transparent regulatory framework makes it easy for you to get started as well as operate your business. Financial transparency maintained in the country enables your prospects and investors to trust you.

So, now you know why you should consider doing business in Thailand. And when you set up a business in Thailand do not forget to list in the Thailand business directory.

The Ups and Downs of Land Ownership in Thailand

Thailand has long been considered as the ‘rice bowl of the world’ and for good reason. Thailand is still the world’s number one exporter of rice. Although most people believe that tourism is the main breadwinner for the country, it is not really the case. True, tourism does hold a major share in the economy of the country; there are several other factors at work. For example, did you know that, they export a variety of textiles, footwear, computer and electrical appliances? All this culminates into a pretty good state of economy in the country.

The country is as rich in natural beauty as it is in the comforts of city living. You will find lusciously green mountains, pristine beaches and amazing waterfalls to quench your nature thirst. At the same time, cities like Bangkok are known for some of the craziest nightlife and are one of the greatest shopping destinations. This ‘best of both worlds’ advantage does not only make it a raging tourist destination, but a great place to live as well. Despite maintaining world standards as far as lifestyle is considered, the cost of living in the country is far less that the European and American lands. This attracts people to build their retirement homes in this quaint little land as well as attracts the foreign investors.

Wherever there is a steady influx of people, property will sell like hot cakes. Many clever investors have recognized the property potential and are looking for houses and lands for sale in Thailand. While the Thailand business directory does help you find the properties that might suit your budget, they do not state everything like the property rules. For starters, foreigners are not allowed to own land in their own name although apartments and condominiums are quite possible. However, if your heart is set on buying a land, there are plenty of ways to achieve that as well, that too, quite legally. The first step is to be filthy rich, so much so, that you are ready to invest 40 million baht, that is, 1.2 million dollars and 1 million Euros! Well if that is not an option for you, there are others that might be more pleasing to your pocket.

A good way to own land in Thailand is through a holding company. You create a holding company that will require some Thai co-investors and own the land in the company’s name. Unlike the case of condominium ownership, here the Thai ownership need not be the majority and just nominal participation will do. Various agreements and voting rights are in place to ensure that the foreign investors maintain the ownership. A much simpler method of owning the land is through a Thai nominee.

If you are lucky enough to have a Thai spouse then nothing like it. You could simple buy the land in his or her name and you would be free to do whatever you wish to do with the land. However, buying a land where you know that the natural ownership stays in the hands of a complete stranger is a risky affair no doubt. Most likely, the laws do not protect you in any way in this regard, that is, the Thai nominee is seen as the sole owner instead of a co-owner with you. That means that if his intensions are less than pious, your entire investment could sink without a trace and you will not be able to do anything about it. Therefore, unless you do not have a reliable resource in Thailand, this procedure is not the wisest choice.

For a foreigner dealing with land could be slightly tricky in Thailand that is why many people bypass the land ownership to directly owning apartments or condos. This does restrict them from doing anything more with the land but it does make a more secure purchase. The returns will surely be worth the while.