The pitfalls of registering a company in Thailand

  songsamorn yannasitti    July 16, 2013    1219

 

The company registration process in many countries may not seem as strict or laborious as it is in Thailand and that may be why the government may consider relaxing the requirements a little to ensure that more foreign investment comes in to the country and provides economic growth.  Economic growth thus promotes the stability of the company whilst also ensuring that both foreign and domestic parties are catered for.  So there is no doubt that there are many benefits for all involved when it comes to company registration in Thailand but you just have to make sure that you meet all of the requirements if you wish to be successful and operate your own business in the region.

However too many businesses of the same nature can lead to market saturation which means that ultimately one company has to suffer.  You only have to look at how many 7-Eleven stores adorn a street in Thailand to see that any company that is registered to do the same job, unless they offer something truly unique will most likely fail even if they are accepted simply because 7-Eleven owns the majority of the market share and they are so long established that it will be very hard for anything that is not a giant western consumer goods franchise to make any sort of a difference to that.  Ultimately the business that you wish to create and own plays a big part too in the company registration process in Thailand as was explained and this is just as important, if not more so, than making sure all the subsequent requirements and financials are met also.

But running a business and owning a business are two very different tasks.  Both are not easy.  When you register a company in Thailand you must make sure that all the staffing requirements are met in terms of the ratio of foreign to Thai workers and all the foreign workers must be educated to university level at least in order for them to gain a work permit and be able to live and work in Thailand legally.  Having all these requirements makes sure that the company is not entirely foreign owned as that is not allowed for the obvious reason being that there needs to be some Thai influence in the company and this is outlined in the requirements in terms of forming the actual company itself to operate and work in Thailand and is one of the requirements you must meet to ensure success.  If you follow the rules then it means that you should pass the company registration process successfully and smoothly and this means you are then well on the road to success in terms of successfully owning and having a business in Thailand.  This in itself can be a rich and rewarding experience so make sure that all the requirements are met and followed and this will always lead to a positive outcome when it comes to owning a company and company registration in Thailand.

If you need to know more about Thailand Company Registration, TILALEGAL, with our English speaking lawyers and years of experience working with the expat community can assist you in the formation of your company whatever your requirements, assuring swift completion in as little as 2 weeks. Please visit Tilalegal.


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company registration thailand, thailand company registration, company registration in thailand

 


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