Entrepreneurs who want to open a company in Thailand should know that they can set up a virtual office, through which they can have a business presence on this market. The virtual office, which offers businessmen a new way of doing businesses, has a set of financial advantages, which can reduce the costs of your business activities in Thailand. If you are interested in purchasing a virtual office package here, our Thai company formation specialists can provide you with assistance in this matter.
| Quick Facts | |
|---|---|
| Best used for |
Companies in the services industry, those that are not dependent on their location, remote work, Thai start-ups |
|
Advantages |
Flexibility to work from the office or another location, lower costs compared to renting a traditional office, central location, good business image |
|
Registered address option |
Yes |
| Location |
Modern office buildings in Bangkok and other cities in Thailand |
| Coworking spaces | Yes |
| Individual offices |
Yes. Usable space can differ |
| Meeting rooms |
Yes. Different facilities according to the location of the virtual office in Thailand |
| Connectivity | Wi-Fi |
| Facilities in Thailand | Mail and call forwarding as indicated, receptionist, business address, access to local lounge, break areas and office supplies as provided |
| Secretary services | Upon request. Usually included in premium packages |
| Local business telephone in Thailand | Upon request |
| Rent duration | Monthly or yearly in most cases |
| Special packages/plans | As offered by the virtual office providers. Can include preferential services and access to meeting rooms and office space |
| Approximate costs for a virtual office in Thailand | Can start at THB 1,900 per month, depending on the chosen plan |
| Change from traditional office to virtual office in Thailand | Yes, possible by notifying the Thai authorities regarding the registered company's address change |
Table of Contents
What is the virtual office for a company in Thailand?
The virtual office is a physical business and correspondence address for the company, without the dedicated office space. The virtual office package can be purchased by entrepreneurs and it is one that will generally include related services such as secretary services, call forwarding and mail redirecting, as needed for that specific company. A virtual office is a modern solution if you want to establish a corporate presence in a certain market.
A virtual office in Thailand is a place where a company has access to all the modern communications means and where it receives various documents; if the company has employees, they can conduct their activity from any convenient location. As such, the virtual office represents a flexible and modern way of having a business presence in a foreign country; our experts in company registration in Thailand can offer you a customized virtual office package in Bangkok or in any other major city in this country.
Company formation in Thailand is possible via a virtual office as the address of the location will be the one for the company’s registered office. This means that the location where the virtual office is based (usually in a modern building) will also be used as the correspondence address for the business, from where the correspondence can be forwarded as needed.
This means of establishing and running a business may be more popular among investors who open a small business or among startup founders. A company that does not need a physical store or presence (or perhaps a warehouse for storage or a location where to base its equipment) can easily and conveniently function via a virtual office. This can be the solution for software companies or for services companies who have employees who can work remote. When needed, the team can request additional office space on location as well as have one or more permanent offices on location. However, they do not need to maintain or pay the rent for space they do not always use. This flexibility in terms of the working location can be very important for investors who are interested in Thailand company formation in particular business fields. Businessmen who need incorporation services in a European country, for example company incorporation services in Switzerland, can receive help from our local partners.
Compared to a traditional office, the costs for a virtual office package will be lower. Business owners will not need to purchase a property or rent it and then equip the office with the minimum required supplies and furniture. Virtual office spaces are fully equipped and located in office buildings. This means that the utilities and the general upkeep of the office are not under the command of the company owners. They will simply use the office space as agreed for their purchased package whereas, in a traditional office, the maintenance and the repair works would imply additional costs as well as proper management.
If you would like to use a virtual office for a branch in Thailand, our team will give you more details about your options and the requirements in this case.
What are the advantages of a virtual office in Thailand?
Foreign businessmen who want to expand their business activities in Thailand, but who do not need a physical location to conduct their operations here may opt for a virtual office, which can represent an attractive way for establishing a business presence on the Thai market.
A virtual office in Thailand is a very cost-effective solution for those investors who want to open a company in Thailand, as there are no conventional lease expenses; also, there are no maintenance costs and the employment expenses are lower, as most of the employees are having a legal status of individual contractors, rather than full-time employees.
Depending on the services you want to receive when opting for a virtual office, our company registration specialists in Thailand can assist you in obtaining the following services, summarized in the list below:
- a prestigious business address: this is mandatory if you want to open a company in Thailand. Our virtual offices are located at addresses in various locations across Bangkok for example, which will also offer the prestige of a respectable and modern location.
- local telephone number: useful for those businesses that engage in local activities, the local telephone number is a sure way of communicating with Thai clients and business partners.
- a receptionist: one of our professionals will be able to provide secretarial services, which include but at not limited to mail collecting and forwarding, fax services and answering calls.
- a conference room and the needed office space: this is an additional service for those businesses that need conference space on occasion or extra office space for employees.
An optional service can consist of bank statement collection and forwarding. All of the mail, telephone and fax forwarding services will be handled as per your instructions and at the addresses provided by you. You have the option to request extra conference and office room space on demand, as needed on certain occasions.
Virtual office packages can be adapted as per the needs of the company, in most cases. Providers will offer a general package, like the one described above, to which company owners may add additional services as needed for their business or on occasion.
The company will benefit from having a prestigious business address that will be included in its contact information. When needed, the business owners will be able to schedule meetings with clients or business partners at the virtual office location, provided that they arrange for extra meeting room space, as needed for their meeting.
Usual facilities, such as internet access as well as access to office consumables or electronics (printers, scanners, etc.) are available on location. The fact that the location has a dedicated receptionist to answer and forward the calls will add to the credibility of the business.
Another advantage when working via a virtual office in Thailand, based in Bangkok or in another city, is that it can present valuable opportunities for networking. While the types of offices that are available for rent will allow you to have a private space for yourself or for your team, you will have access to common areas and you will be able to meet other like-minded entrepreneurs and expats who are also doing business in the country and have chosen to work from the same space.
Investors who open a company in Thailand and work via a virtual office are able to choose between several locations, as many companies that offer this service have more than one office building to accommodate their clients. Billing will, in most cases, be monthly. This means that investors can choose to test this service and see if it complies with the needs of their business. Those who know that they will run their business in this manner can opt for different packages with a yearly billing plan that may also include savings. Some virtual office service providers also offer one-time usages. You can also explore this option for remote work.
As many companies have transitioned to a hybrid work model in the last two years, the popularity of virtual office spaces has risen. If your company has recently switched to remote work, one of the first steps you might have considered was if your initial office space (which was rented accordingly) continues to be used as much as to justify its costs. If you will choose to adopt a hybrid work model, renting a virtual office in Thailand is a natural choice. For most companies, hybrid work is a mode that combines remote work with office work. The company may set a specific number of days per week during which the employees will be present in the office.
We also invite you to watch a video about virtual offices:
Virtual office services in Bangkok
A virtual office can be located anywhere in Thailand, however, the capital city is the location in which most investors will look for this service.
When using a virtual office in Bangkok, your clients and other business partners will see that you are based in a central and modern location and this can increase the perceived image of your company. Building a strong presence can be important early on for many investors and entrepreneurs, especially those who work in highly competitive industries.
Some of the most popular business areas in Bangkok include Silom, often said to be the equivalent of the Thai Wall Street, Asoke, Ladprao, or Sukhumvit, which is also popular among expats. When you choose the area where you will select one of the available spaces for a virtual office in Bangkok, you can not only consider the prices but also how well the area is connected to others in the city and how accessible it is to you and/or your team. Other criteria can include the office’s proximity to other areas of interest in the city, such as restaurants or cafes.
Some examples of spaces available under a virtual office in Bangkok regime include the following:
- A virtual office with business address a complete package that includes a prestigious business address as well as operator services and mail handling and forwarding services;
- Private office: this can be suitable for a small team of 1 to 3 persons; it is fully equipped, has high-speed internet and your team can move in as soon as you sign the rental agreement;
- Deluxe offices: suitable for 2 to 4 persons and include a private telephone line, in addition to the services offered in the private office; they typically include sufficient or unlimited use of conference rooms;
- Executive office: for larger teams, of 4 to 6 people, and a larger office area for the team executive; these types of virtual office packages that are suitable for larger teams can offer unlimited access to conference rooms.
The examples listed above benefit from high-speed internet, print and copy facilities as well as central air conditioning and housekeeping services. You can use these examples as a guide to thinking about your options when you choose to work via a Bangkok virtual office, whether you are a sole trader or have a small to medium team of people with you.
With a virtual office, you can start running your business right away, as soon as you sign the contract for the chosen space. You can effectively move your team into the space the next day, or even the same day, depending on how you schedule the viewing and signing for the package.
Because the offices are already equipped with everything you need, you will not worry about office supplies or whether or not you need to sign additional services agreements with third-party providers, as you may need if choosing to rent a traditional office space (if you wish to change the internet provider, for example). Moreover, most virtual office packages will also include refreshments, so you will have access to an equipped kitchen or lunch area.
If you have decided to open a company in Thailand and are choosing the virtual office option, read below more about the requirements when doing business in this country. If you have questions, including ones related to a specific industry, please do not hesitate to reach out to our Thai company formation experts.
What are the conditions for investing in Thailand?
Foreign investors in Thailand are required to comply with the local incorporation, taxation, accounting, and management requirements. The business forms preferred by many entrepreneurs are the limited company and the public limited company. The latter is most suited to large businesses and it is subject to more complex accounting and reporting requirements.
Investors who choose to run their company via a virtual office can request a package suited to the needs of their company from our accountants in Thailand. We provide complete solutions for businesses in different industries. Part of our services includes bookkeeping, annual reporting, VAT compliance and filing, and assistance in dealing with issues in front of the tax authorities.
The Foreign Business Act is the primary law that concerns foreign investment and provides for certain restrictions in selected business fields, such as transport. The reasons for the restrictions have to do with cultural heritage as well as a perceived competitive disadvantage. Our team of Thai company formation specialists can provide complete details about the restrictions that may apply in some fields as well as foreign company ownership.
Foreign investments (FDI) in Thailand increased, the country being one in the ASEAN region which recorded an important increase in the inflow of foreign investments. The statistics below show the main evolution of FDI:
– increase by 692.7 million USD in March 2019;
– in 2018, the approximate FDI amount was 13.25 billion USD;
– in 2017 the FDI amount (approximated) was 8.04 billion USD.
A virtual office can be a convenient manner of doing business for investors interested in opening a Thai company. With a virtual office in Bangkok, you can benefit from being located in a high-profile area of the city, and your company will benefit from the image thus created. If you need further information about the virtual office in Thailand, please contact our local company formation specialists, who can offer their assistance on this matter.
In case you need a virtual office in Lithuania, we can put you in contact with our partners who can help you in this matter. For legal services in Lithuania, we can put you in contact with our partners.