Original home to siamese cats,Buddhist religion,Muay Thai boxing and world’s largest exporter of rice. Beautiful country with sun, white sand beaches, festivals. The word Thailand means „ the land of free”. Does that mean it can grant you with freedom? Let’s see if it can…
- world’s 20th most populous country, with close to 67 million people.
- Bangkok, capital city of Thailand, being the most visited city with its original name of 169 letters: KrungthepmahanakhonAmonrattanakosin Mahintharayutthaya Mahadilokphop Noppharatratchathaniburirom Udomratchaniwetmahasathan AmonphimanawatansathitSakkathattiyawitsanukamprasit
- 13th friendliest country in the world
- Home to a lot of popular festivals, like for example annual Phuket Vegetarian Festival
- 95 per cent of the population practices Buddhism
But what can interest business people in Thailand?
- First of all, there are three kinds of companies, that you can establish: Sole proprietorships, partnerships and limited companies. The most popular, are obviously private limited companies.
- 0% taxation for the first 8 years
- Exemption of VAT for importing machinery
- Possible to get an additional 3 years of tax exemption if supporting a research and development institution
- Although It is possible to owe 100% of the company, expecially for the american citizens, some activities are forbidden for foreign shareholders, so you would need to use nominee services in order to do business in Thailand
- Good bonus are relatively low prices and cheap work force
- Companies are required to withhold income tax from the salary of all regular employees
- Thailand recognizes three kinds of intellectual property rights: patents, trademarks and copyrights
- The most popular business areas are tourism, agriculture-related business, textile, online.