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Doing Business in Phuket

For many who have been to Phuket once and return for several times, Phuket is an ideal paradise to live, and even once they are retired. It is an entertainment island with so many things going on and around. It is also another great city to start and develop your own business. Either it’s an income or pleasure purpose to persuade you do business here, before you make a decision, just think about what you need to know to establish a business in Thailand. Certainly, there are several issues for your concern since this is not just as simple step as your daily life’s action. It involves with most of legal issues.

As in other countries, there are three kinds of business organization in Thailand: sole proprietorships, partnerships and private limited companies. Private limited companies are very popular, but it also comes to deal with many issues. For example, you must have minimum of 7 promoters to register a company, and you as a foreigner can’t own more than 49% shareholder. Accounting and taxes issues are also essential, following the policy by Department of Revenue and Commercial Registration. You also need to know about intellectual property rights: patents, trademarks, and copyrights.

You should study well about the status of Thailand’s infrastructure and facilities – airport, deep sea, ports, highways, availability of power, water and telecommunicates, cost of lands, labor cost, and so on.

Setting up a business here is neither difficult nor easy if you do your homework very well. With friendliness of its people and its unique culture, Thailand is always welcome and open for opportunity.

However, it’s better to consult with qualified professionals, specifically for this topic. 

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