| What
You Need to Know About Setting up a Business in
Thailand |
 |
The following is an overview of establishing a business
in Thailand.
As in most countries, there are three
kinds of business organizations in Thailand: Sole proprietorships,
partnerships, and limited companies. The
most popular form of business organization among foreign
investors is the private limited company.
Private limited companies require a minimum of seven
promoters and must file a memorandum of association,
convene a statutory meeting, register the company, and
obtain a company income tax identity card. They must
also follow accounting procedures specified in the Civil
and Commercial code,the Revenue Code and the Accounts
Act. A balance sheet must be prepared once a year and
filed with the Department of Revenue and Commercial
Registration. In addition, companies are required to
withhold income tax from the salary of all regular employees.
The Ministry of Industry administers The Factory Act,
which governs factory construction and operation,
as well as safety and pollution-control requirements.
In some cases, factories do not require licenses, in
other instances the requirement is simply to notify
officials in advance of start-up, and in some cases
licenses are required prior to commencing operations.
Licenses are valid for five years, and are renewable.
Thailand recognizes three kinds of intellectual
property rights: patents, trademarks, and copyrights.
The Patent Act protects both inventions and product
designs and pharmaceuticals.The Copyright Act protects
literary, artistic works, and performance rights, by
making it unlawful to reproduce or publish such works
without the owner's permission. The Trademark Act governs
registration of, and provides protection for, trademarks.
The Alien Occupation Law requires all foreigners working
in Thailand to obtain a Work Permit prior to starting
work in the Kingdom, except when they are applying under
the Investment Promotion Law, in which case they have
30 days to apply.
Non-Immigrant visas provide the holder with eligibility
to apply for a work permit, and allow the holder to
work while the work permit application is being considered.
Through the links below, you can learn more about topics
such as industrial licensing, taxation, patents
and trademarks , and the cost of doing business
in Thailand. You can also find out about the status
of Thai infrastructure, including facilities
such as airports, deep sea ports, and highways, and
the availability of power, water and telecommunications.
In addition, there is a link to a page of statistics,
which displays tables of utility, communications and
labor costs, tax rates, information about air, sea,
rail and road freight pricing, and information about
availability and cost of land within industrial estates.
Other charts and tables provide costs of establishing
and running an office in Bangkok, and the results of
a survey of expatriate living costs in Bangkok.
This page also contains information about industrial
production of selected products in Thailand, tables
breaking down Thai imports and exports by product and
a table displaying interest rate movements for the past
5 years.
By the time you have finished visiting all these pages,
you will have a complete picture about the business
climate in Thailand.
Updated 30 September 2009
|
