10 Checklist for A Startup Business In Thailand
Starting a business in Thailand requires a lot of hard work and planning. It is important to ensure that you are well prepared and touch all the bases before you launch your business in the market. That is why, it is essential to know the steps that must be followed to guarantee success. Want to learn more? If yes, then read on:
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Get acquainted with the legal system in Thailand. Find out the processes essential for ensuring smooth operations. Know more about the documents that are to be filled and submitted.
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Research about your target market. Learn about the needs and requirements of the specific market. This will help you in designing an appropriate strategy.
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Have a specific vision and goal for your business. This will keep you ahead in the race and maintain your competitive edge.
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Learn about the business structure in Thailand. The Thai business structure includes Partnership, Limited companies, Joint ventures and Representative office.
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Get a proper Thai name for your business. In this case, follow the regulations of the Business Development Office in Thailand.
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Submit the memorandum of association at the Business Development Office. Provide information such as address and name of your business, its objectives , and capital.
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Arrange a meeting to select the Board of Directors and an auditor for your company.
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Register a Thailand limited company. Within three months from the date of the meeting, submit an application for company formation.
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Get a tax ID card and a company number. You’ll get the company number from the Revenue Department. Obtain both the things within 60 days of starting operations.
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Register for VAT if your business has revenue of more than 600,000 baht per annum. This must be done within 30 days of the date when your company records a revenue of 600,000 baht.
This checklist will ensure that you do not miss out any important step while starting your business venture. However, the legal structure of Thailand is very complex and for that, legal consultation is a must. If you are interested in a start up business in Thailand and are confused about the legal processes, then come to us. Our team of experts will guide you through the complexities of the processes and ensure that all the legal hassles are met. To get in touch with us, write to us at [email protected] or book an appointment at +66 26260277.
