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…

Basic information:

• 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.

And please, be aware, it’s illegal to drive shirtless in Thailand;)

If this fact still doesn’t stop you, then welcome to “freedom”. Incorporate in Thailand NOW.

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