The World Bank has recognized Thailand as Southeast Asia’s second largest economy after Indonesia. This is why many foreigners find this country to be one of the most opportune places in which to open a shop. If you want to set up a business in this country you can call on the counselling provided by our specialists in company formation in Thailand.
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Initial steps to take for the set-up of a shop in Thailand
In order to set up a shop in Thailand you will need to follow the registration procedure required by the Thai Commercial Act. You will need to apply as well for a non-immigrant ‘B’ visa type (business visa). The opening of a bank account for your initial investment in a shop might require the elaboration of several documents, that our consultants can help you prepare in the shortest time.
You cannot open a shop without deciding first the type of store that you want to establish and the products that you intend to sell. You may choose one from the various types of shops which are successful in Thailand: such as grocery stores, outlets, hypermarkets etc. Any type of shop you might decide to have, will have to go through the procedure of company registration in Thailand.
The choice of a name for your shop is another important step for the future success of your business. The name reservation is another preliminary step that you need to perform in view of the company registration with the authorities. The rules for opening a limited liability company in Thailand require that the articles of association together with the documents proving the identity of the owner should be submitted with the Department of Business Development. In order to comply with the specific requirements for foreign investors in Thailand, you may discuss with one of our experts in Thai company formation matters.
Why invest in a shop in Thailand
The governmental support provided by the Thai government to foreign investors makes Thailand an attractive spot for opening a shop there. The Board of Investment (BOI) promotes and offers many opportunities for people who want to start a business in this country. In the last year, the store-based retailers have expanded also in the provincial areas, resulting in a significant growth value of theretailing sector in Thailand.
An important reason for which so many foreigners invest in Thailand is the low costs for starting a business there. Compared to Europe, or to the US, the expenses with the salaries for your employees are going to be much lower, because the Thai average revenue per month is between 6,000THB – 8,000THB (180-240 dollars).
Please feel free to contact one of our experts in company registration in Thailand for a hassle free and professional business set-up in this country.