HOW MUCH IT IS OPEN TO OPEN YOUR SMALL BUSINESS IN THAILAND
Thailand is a country that attracts many of our compatriots both as tourists and as entrepreneurs. Thailand has very low housing prices (renting a two-room apartment in the largest city of Chiang Mai $ 200 / month) and cheap but tasty food (any dish in the restaurant under $ 2). It seems to many that starting a business in Thailand is quite simple. We will understand the pros and cons, optimal business ideas, subtleties and “pitfalls” of earnings options.
LEGAL INSTRUCTIONS OF BUSINESS IN THAILAND
Signature of documents.
The first thing to consider before starting your own business in Thailand is that many types of activities for foreigners are prohibited here, mainly those areas where the local population is employed, for example, agriculture, the manufacture of hand-made goods.
The creation of new jobs by foreigners for Thais is welcomed by the state, it also assumes all social guarantees, but it is possible to open a company in Thailand provided that one of its founders must be a Thai citizen, and his share of the authorized capital should be more than 50%.
Preparatory steps for starting a business:
Formation of a business plan.
Contact the Thai Embassy in your country of residence for a business visa.
Search for business partners.
Obtaining written consent from partners to conduct joint business.
Registration of business in the commercial department of Thailand.
Payment of state duty – about 1000-1200 cu
Providing information on the availability of funds in the account in the amount of two million baht ($ 70,000).
Further, after the approval of the name of the company, the signing of the memorandum of association, the meeting and the adoption of the revision of the Charter, it is necessary to obtain a TIN – TaxID.
Experienced entrepreneurs highly recommend:
compile all documentation with the assistance of lawyers and translators;
carefully check the reputation of the co-founders;
carefully analyze the Thai market for relevant options for making money.
BUSINESS IDEAS FOR FOREIGNERS IN THAILAND
Business in Thailand.
Below are the most profitable business ideas and earning options for immigrants and foreigners. One of the popular, but highly competitive areas is a bar, cafe, restaurant. To open a business in this area, it will take about $ 70,000. The payback period is 1.5-2 years. The main disadvantage is seasonality.
Renting apartments, houses in tourist areas can bring good money, but there are some peculiarities. Firstly, the acquisition of real estate for a foreigner is several times more expensive than for local ones. Secondly, the fact of surrender is possible only with the permission of the condominiums. As elsewhere, it is most beneficial to purchase housing in Thailand under construction, so the price can be almost 2 times lower. For example, an elite apartment in a tourist area will cost three million Thai baht, in dollar terms it is about $ 100,000, rent – 500-600 cu per month.
Private kindergarten in Thailand is perhaps one of the most profitable earning options for foreigners from immigrants. Demand for the service is high, both among local and tourists, and foreigners living in the country. This type of activity is subject to:
It is necessary to find a suitable room that meets all standards.
Organize language groups.
A visit to a kindergarten is expensive – from 5 to 10 thousand baht per month (150 $ -300 $).
There are a lot of foreigners in Thailand, but spicy and fat Thai cuisine is not to their liking. Therefore, a grocery store with familiar and familiar products for our compatriots is a good option for business. The advantages of such business ideas in Thailand:
minimum advertising and rental costs;
space margin, highest demand.
Goods can not only be imported to Thailand, but also exported. As you know, this country is famous for its chic wicker furniture made of rattan, teak, rosewood. To organize the export, you must:
Conclude an agreement with a local manufacturer.
Register at customs.
Arrange a transfer.
Find buyers in your country.
Another of Thailand’s most profitable businesses is car and moped rental. Obtaining permission costs a penny, and profits can be made year-round. Less business ideas: high competition.
Many Russian speakers work informally in Thailand as tour guides. Another option to open your own business is language courses and schools for teaching the Russian language.