Chinese Migrants Pouring in Thailand’s Business Ecosystem: Possibilities Explained
I believe it wouldn’t be wrong saying Chinese intervention in Thai business ecosystem is a new wave. Suddenly a huge group of Chinese immigrants is moving to the country to make good money, retire and study. Take a stroll in Bangkok and you will find many Chinatowns setting up there. A recent survey made by the Asian Research Centre for Migration found that many Chinese migrants come with a significant amount of funds to invest in the start-ups. Now, the question is why Chinese start business in Thailand? Apparently, lack of employment opportunities in China is the reason for their migration. As a matter of fact, in a recent report, it is found that the jobless rate in China has tripled to 12.9% (since 2012).
Most foreigners chose Thailand over other countries when it comes to migration, be it for doing business, retirement or studies. Then why should Chinese lack behind? Thailand is known for its reasonable cost of living, low competition, and friendly people. However, as far as Chinese business growth is concerned, Huai Khwang has thirty Chinese Business operators in shipping and logistics, while there are almost fourteen restaurants as well as eighteen to twenty cosmetic shops. In the lion’s share, there are both joint ventures and 100% Chinese owned businesses. Of all, what makes Thailand so unique is that it offers 100% ownership of business registered under the Board of Investment to the foreigners.
If you are a Chinese and want to open company in Thailand, you shouldn’t think twice. Moreover, you will find people from your country there, hence you need not worry. Just make sure you have a sellable business plan alongside ample funds to support. However, the fund might not be a problem as there are big companies in Thailand who are willing to provide financial support to the start-ups. To find such companies you can attend conferences or networking events; one of which took place a few these days before.
Another important thing is to understand the Thai culture. You should be liberal enough to accept one culture wholeheartedly. I mean working here would be like interacting with Thai people and foreigners too. So, you should know their language and English. Before getting started with the business in Thailand, you must be a casual visitor to the country.
When it comes to starting a legal corporation there, you can choose from several types, including Limited Thai Partnerships and Established Thai Partnerships. The best way to do that is to register your business under a Thai person. For further queries, you can contact us as we can help you find proper legal solutions.Tags : chinese, Limited Thai Partnerships, Thai Partnerships,