Doing business in Thailand

Are foreign investors welcome in Thailand?

Thailand's government maintains an open, market-oriented economy and encourages foreign direct investment as a means of promoting economic development, employment and technology transfer. Foreign investment in Thailand significantly influenced the buoyant economic growth of the last 15 years, spurring Thailand's transformation from an agriculture-based economy, to one balanced with industry and manufacturing.
The government promotes foreign investment in Thailand through the Board of Investment (BOI), which was established in 1977. The BOI lists seven categories of economic activities, covering hundreds of types of businesses that are eligible for investment incentives. Potential investors who meet any or all the following criteria are eligible for BOI incentives:

•   
Significantly strengthen Thailand's balance of payments position, especially through production for export

•    Support the development of the country's resources
•    Increase employment
•    Locate operations in provinces outside the Bangkok metropolitan area
•    Conserve energy or replace imported energy supplies
•    Establish or develop industries that form the base for further technological supplies
•    Are considered important and necessary by the government
Promotions offered to investors by the BOI are categorized as either tax incentives, or non-tax privileges. Corporate income tax and import tariff incentives are offered to businesses whose activities fall under the BOI's priority industries, or who operate in Export Processing Zones (EPZ). Non-tax privileges including guarantees, protection, permissions and services, which are offered to all BOI-Promoted projects. EPZ's fall within Thailand's network of Industrial Estates, which offer incentives to foreign and domestic businesses who operate within the designated estate area.


Is it complicated to register a company in Thailand? What is the procedure?
1.Guidelines for forming a limited company in Thailand

We would like to explain you the guidelines for forming a limited company in Thailand as below:

Company Limited
This is a kind of company which is formed with a capital divided into equal shares, the liability of the shareholders being limited to the amount unpaid on the shares respectively held by them.

Corporate name reservation
The name to be reserved must not be the same or close to that of other companies, which approved by the Commercial Registration Department at the Ministry of Commerce. The approved corporate name is valid for 30 days. No extension is allowed.

Establishment of Company Limited
In order to establish a company limited, the registration must be processed according to the following:
    1. Must have at least 3 persons signing together in order to prepare Memorandum and then register. Upon receiving the amount of shares, the director must register as the company within 3 months from the date of company's meeting to establish the company.

The promoters must have the following qualifications :
            (1) Be ordinary person, not juristic person
            (2) Be 12 years old or above
            (3) Must reserve to buy at least 1 share

Information used to register the Memorandum
            (1) Company's name (the same as the name reserved)
            (2) Location of head office (located at which province)
            (3) Objective of the company
            (4) Registered capital must be divided into each share with the same value (share's value must be at least 5 Baht)
            (5) Name, address, age, occupation and number of shares that persons who start up the company reserve to buy the shares)
            (6) Name, address, age of 2 witnesses
    2. When the Memorandum has been registered, shall perform the following:
            (1). Every promoter can manage to reserve and buy all the shares
            (2). When all the shares are reserved, the promoters must not delay to hold a general meeting of subscribers which shall be called the statutory meeting.
    3. Meeting agenda.
            (1) The adoption of the regulations of the company, if any.
            (2) The ratification of any contracts entered into and any expenses incurred by the promoters in promoting the company.
            (3) The fixing of the amount, if any, to be paid to the promoters.
            (4) The fixing of the number of preference shares, if any, to be issued, and the nature and extent of the preferential rights accruing to them.
            (5) The fixing of the number of ordinary shares or preference shares to be allotted as fully or partly paid-up otherwise than in money, if any, and the amount up to which they shall be considered as paid-up.
            The description of the services or property in return for which such ordinary shares or preferred shares shall be allotted as paid-up shall be expressly laid down before the meeting
            (6) The appointment of the first directors and auditors and the fixing of their respective powers.
             No resolutions of the statutory meeting are valid unless passed by a majority including at least one half of the total number of subscribers entitled to vote, and representing at least one half of the total number of shares to such subscribers.
    4. The promoters shall turn over the business to the directors.
    5. The directors shall request the promoters and subscribers to pay forth with upon each share payable in money such amount, not less than twenty-five percent of the share's value.
    6. When the collection of share's price is complete, the authorized director shall prepare the request for the registration of company's establishment and submit to the registrar.
      Regarding the submission for registration, the authorized director shall sign the name on the request and must submit to register within 3 months from the date of company statutory meeting. If not registered within the specified period, the company statutory meeting shall be void and if would like to register to establish the company, shall arrange the meeting for persons who reserve to buy the shares again.
    3. Regarding the company establishment, if can perform every step as follows within the same day that the promoters prepare the Memorandum, and the director can request to register the Memorandum and register the company within the same day.
          (1) Shall have the persons reserve to buy all the shares that the company can be registered.
          (2) Arrange the meeting to establish the company to consider various affairs according to the Civil and Commercial Code, section 1108, and all the persons who start up the company and all the persons who reserve to buy the shares shall attend the meeting, and all of them shall agree in the affairs in the meeting.
          (3) Persons who start up the company assign all the affairs to the director.
          (4) The director call the person who reserves to buy the shares to pay the shares according to the Civil and Commercial Code, section 1110, section 2 and such share's price has already been paid.

Registration
      The registration for a company limited shall be divided into 2 steps as follows:
      1. Registering the Memorandum.
      2. Registering the establishment of a company limited

Tax ID Number Registration
Businesses liable for income tax must obtain a tax I.D. card and number for the company from the Revenue Department within 60 days of incorporation or start of operations.

VAT Registration
Business operators earning more than 1,800,000 Baht per annum must register for VAT with in 30 days of the date they reach 1,800,000 Baht in sales.

2. For the new rules and regulations in registration of a new company in Thailand, please notice that:

a, A private company, mostly the foreigner or foreign company can hold maximum 49% and the other 51% will be held by Thai, to follow this regulation you can find some Thai people to be nominee. However foreigner or foreigne company can hold more than 50% up to 100% to be majority shareholder by 3 channels, please contact us for more information.

b. In case that a foreigner shareholder holds more than 30% of company shares, the Government will require all Thai shareholders to declare their bank statement of the respected amount. In case could not present bank statement, we will avoid this regulation by registration with 2 steps; Please contact for its solution.
What is the corporate tax rate in Thailand?


Corporate income tax (CIT), imposed base on “net profit” below is tax rate for year 2009(2010 may be change);
Net profit

Incentive for SME
Capital not exceeding
Baht 5 million

Ordinary company
Capital exceeding
Baht 5 million

0 – 150,000

0%

30%

150,001 - 1,000,000

15%

30%

1,000,001 – 3,000,000

25%

30%

Over 3,000,000

30%

30%

Normally, net profit will be calculated by = Income – Expenditure, for this should concentrate on kind of income as below situation:

You put capital fund into bank( such as saving account), this kind of income is “Interest from Bank”
You do not put that capital fund into bank that mean still keep in your bank, that fund must be recorded as “Loan to director”, this kind of income is “Interest” form its loan. Applicable interest rate for this borrowing is 4% per annum.
Example;  Case study:
Capital is Baht 10 million, Expenditure Baht 20,000 for 1 year period, tax amount will be paid is Baht

(4%10,000,000 – 20,000 = Net profit = 380,000 Baht,
CIT - Tax amount = 30%380,000 =  Baht 114,000 per year)
**SBT – Tax amount = 3.3% of 400,000 = Baht 13,200 per year, will be paid when settle interest of loan.

Remark; We advise you avoid a huge of tax amount by 2 ways below:

1. Setting up company with capital no exceeding Baht 5 million
In the same case study; tax amount for capital Baht 5 million is
CIT = Baht 4,500 per year.
**SBT = Baht 6,600 per year.
2. Setting up company with capital no exceeding Baht 5 million and paid up only 25% of registered capital.
In the same case study; tax amount for capital Baht 5 million with paid up capital 25% is
CIT = Baht 0.00 per year.
**SBT = Baht 1,650 per year.       
3. We recommends you to set up company with capital of Baht 1 million and paid up only 25% of registered capital.
In the same case study; tax amount for capital Baht 1 million with paid up capital 25% is
CIT = Baht 0.00 per year.
**SBT = Baht 330 per year.
b. Half year tax, except for the first year, for the second year and onward will be paid at least 50% of CIT, and can use its tax as credit amount for CIT's calculation at ending period.

c. Monthly withholding tax, will withhold and be paid within 7th day of the following month. Normally, dormant company no business activity will no withholding tax amount.

d. VAT, there are no requirement for registration of dormant company because of income still not exceeding Baht 1.8 million. VAT registration can be done later when start the business activity.

e. **Special Business Tax (SBT), base on “Interest Income” from “Loan to director” by applicable tax rate is 3.3% per annum.

Is it easy to recruit?

Just with a simple post in JobsDB.com will be sufficient.

Any advice you would share with us?

For company registration is best to pay a company to set it up for you, since they can do also non-b visas and work permits on the fly.

FAQ

Q1: Are we allowed to transfer from Thai Majority company to Foreign Majority company?
Panwa: Yes, you are allowed to transfer from Thai Majority shareholder company to Foreign Majority shareholder company, but mostly the foreigner can hold maximum 49% and the other 51% will be held by Thai, to follow this regulation you can find some Thai national to be nominee.

However, foreigner or foreign company can hold more than 50% up to 100% to be majority shareholder by 4 channels,

Channel 1, To apply for Foreign Business License, but please be informed that government will allow you to hold share only some business under annex 2 and 3 of Foreign Business Act (annex 2 allow to hold share maximum 75% and for annex 3 can hold 100%); for carrying out business in Thailand, your company must obtain its license first this step takes time approximately 2 months for the approval from submission of the application. For more information please visit and learn knowledge in our website at: http://www.panwagroup.com/foreignbusinessact.htm
And for the government fee for step of Apply Foreign Business License (FBL) depend on case as below:
- If your business fall under Annex 2, the government fee is Baht 40,000 – 500,000.
- If your business fall under Annex 3, the government fee is Baht 20,000 – 250,000.

Channel 2; Under BOI Privilege, The Board of Investment has the authority to grant the privileges to own 100% share by foreign company or foreigner depending on the conditions of the investment.

Channel 3;Under Industrial Estate Act BE 2522, The company must get the approval from the Governor of Industrial Estate Authority of Thailand and the location of the company must be located only in the area of Industrial Estate.

Channel 4; Under Treaty between Thailand and other country, such as Treaty of Amity between Thailand and USA.

Q2: What is the minimum investment capital requirement?
Panwa: Case of ordinary company in Thailand not require for minimum capital, it only requires a par value at least Baht 5 per share and at least 3 shares minimum, but its investment should have concern on other objectives also such as;
- Work permit for foreigner, required capital each 1 work permit application must invest capital of Baht 2 million.
- BOI, need to study on the right and privilege

Q3: What is the rule & regulation apply in-order to be 100% foreign ownership?

for the guidelines of owning 100% by foreigner, for the annex1 do not allow and for the annex 2 and annex 3 allow to apply that it takes time around 2 months to get approval.

Q4: What will be the minimum capital requirement to reg. Thai Majority Company?
no. 2 above.

Q5: How long is the procedure of reg. the company?
Normally within 1 week, except of set up by Thai Majority ownership and its Thai Shareholder cannot present their investment ( Bank Statement for its capital).

Q6: How many nominee shareholder is required, min & max?
For setting up company in Thailand, required shareholder is at least 3 persons case of need the nominee of Thai Majority Shareholder, it's required to have at least 1 person.

Q7: What will be the complication when we want to transfer to Foreign Majority company?
If you want to set up by Foreign Majority Company and get the privileges from the BOI, we advise you 2 options below:
a>. to apply BOI first after you get the letter form the BOI Department (notification letter received), you shall start setting up company that means the company can be owned by foreigner or foreign company 100%. Anyway you can learn the Policies and Criteria and The Rights and Privileges from BOI
b>. to set up by foreigner hold the shares 100% after that apply to get the license from the government (under Foreign Business Act.) for carry on business in Thailand take time around 2 months or more, anyway you should study guidelines as attachment for the kind of business that allowed on only annex 2 and annex 3.

Q8: Can I suggest the 2 director which authorized to sign for & On behalf of Directors in the Financial Report or bank ect..
Depend on case such as; for signing on the financial statement must be signed by authorized director only (can't give authorization to other), for bank you can authorize other anyway bank will request Minutes of Directors Meeting and inside must declare its scope of signing and range of amount

*** Authorized director(s) = can be only one or more depend on the registration document or Affidavit, normally these authorized director(s) must sign on the formal document such as financial statement, anyway for some kind of document may give authorization letter to another person such as application for tax ID Card or engage someone in Minutes of Directors Meeting to do on behalf of them such as contact to bank.

Q9: Can the foreign comapny hold some share? If so, what its requirement.
Yes, can holding of some shares by Foreign Company,  the following is needed to provide and be certified by signatory director(s)::

Affidavit of foreign company
Company Certificate of foreign company
Copy of passport of authorized director(s).

Q10: What does the proper form for setting up our business in Thailand.
The proper kind of forming or setting up business in Thailand, for your case, you are able to choose many kind of formation such as a private company limited, limited partnership, branch of foreign company(case of have company in oversea). Anyway we would like to recommend you to choose the kind of a private company limited because it is the most chosen form of setting up company by foreigner or foreign company and it is flexible on incentive of corporate income tax (if capital is not over than Baht 5 million).

Q11: Can we deal with all formalities basing on our letter of authorization (we would like to deal remotely with as many formalities as possible, in order to save time spent in Bangkok)
Yes, you can give us the letter of authorization for setting up company in Thailand, our team will prepare all forms and sending you via courier to sign outside Thailand in order to save time and cost for visiting here.

Q12:  We are Singaporean Company base in Singapore we want to set up company in Thailand without office and staff there, can do? If can't how we solve this?

a. A private company in Thailand must to declare address (location in Thailand) in step of register “Memorandum” follow the Civil and Commercial Code sector 1098. Panwa has service for using our address for its setting up, our fee is Baht 10,000 per year.
b. A private company no need to have staff here in Thailand, management can be done outside Thailand, anyway you must consider many function under Thai Law such as; compliance the taxation in Thailand (some kind base on monthly, half-year, and yearly), a chartered accountant with bachelor's degree in Accounting major to be accountant of your company, filing the financial statement to Ministry of Commerce and Revenue Dept. and etc, anyway all kind of the said functions in Panwa we are available to support your company.


Q13: In Malaysia, we (a limited company) must have a minimum of one Company Secretary, according to Companies Act, 1965, in Thailand has similar regulation like this for company limited to comply or not?
No requirement of Company Secretary in Thailand, but Under Accounting Act B.E.2543 and Accounting Profession Act B.E.2547, all juristic company, partnerships, branches of foreign companies and joint ventures are required to have Qualified Accountant (Chartered Accountant) to apply with the Ministry of Commerce on behalf of your entity especially when end of accounting period the said accountant still has responsibility to sign - endorse on Sor.Bor.Chor.3 Form (Financial Statement Submission Form) as same as director(s). 



Q14: What type of business which alien are not allow to carry on in Thailand.
All of 3 annex as enclosed Alien(Foreign) Business Act.1999 are not allow alien to carry on business in Thailand or can't hold the share less than 50% except
- for annex 2 alien can hold share up to 60% if obtain license approved by Department of Business Development and can hold share up to 75% if obtain license approved by Minister and
- for annex 3 alien can hold the share over 50% up to 100% when obtain license from Department of Business Development, refer to Sector 15 of Alien Business Act.1999.

Q15: How many Directors required in the company? Can foreigner become a Director?
No required number of directors, at least 1 can and this can be a foreigner director.

Q16: What are Government expected tax amount of dormant company I have to take in consideration for one year?
Taxation of dormant company base on kind of related tax below;
a. Corporate income tax (CIT), imposed base on “net profit” below is tax rate for year 2009(2010 may be change);
Net profit

Incentive for SME
Capital not exceeding
Baht 5 million

Ordinary company
Capital exceeding
Baht 5 million

0 – 150,000

0%

30%

150,001 - 1,000,000

15%

30%

1,000,001 – 3,000,000

25%

30%

Over 3,000,000

30%

30%

Normally, net profit will be calculated by = Income – Expenditure, for this should concentrate on kind of income as below situation:

You put capital fund into bank( such as saving account), this kind of income is “Interest from Bank”
You do not put that capital fund into bank that mean still keep in your bank, that fund must be recorded as “Loan to director”, this kind of income is “Interest” form its loan. Applicable interest rate for this borrowing is 4% per annum.
Example;  Case study:
Capital is Baht 10 million, Expenditure Baht 20,000 for 1 year period, tax amount will be paid is Baht

(4%10,000,000 – 20,000 = Net profit = 380,000 Baht,
CIT - Tax amount = 30%380,000 =  Baht 114,000 per year)
**SBT – Tax amount = 3.3% of 400,000 = Baht 13,200 per year, will be paid when settle interest of loan.

Remark; We advise you avoid a huge of tax amount by 2 ways below:

1. Setting up company with capital no exceeding Baht 5 million
In the same case study; tax amount for capital Baht 5 million is
CIT = Baht 4,500 per year.
**SBT = Baht 6,600 per year.
2. Setting up company with capital no exceeding Baht 5 million and paid up only 25% of registered capital.
In the same case study; tax amount for capital Baht 5 million with paid up capital 25% is
CIT = Baht 0.00 per year.
**SBT = Baht 1,650 per year.       
3. We recommends you to set up company with capital of Baht 1 million and paid up only 25% of registered capital.
In the same case study; tax amount for capital Baht 1 million with paid up capital 25% is
CIT = Baht 0.00 per year.
**SBT = Baht 330 per year.
b. Half year tax, except for the first year, for the second year and onward will be paid at least 50% of CIT, and can use its tax as credit amount for CIT's calculation at ending period.

c. Monthly withholding tax, will withhold and be paid within 7th day of the following month. Normally, dormant company no business activity will no withholding tax amount.

d. VAT, there are no requirement for registration of dormant company because of income still not exceeding Baht 1.8 million. VAT registration can be done later when start the business activity.

e. **Special Business Tax (SBT), base on “Interest Income” from “Loan to director” by applicable tax rate is 3.3% per annum.

Q16: I have my other questions answered already from your website, all i want to know now is if i setup in bangkok, can i operate in phuket?
You can operate a business in Phuket since you register your company in Bangkok but you must register Phuket as a branch because you will generate your income from there.

Q17: Is the company registration provincevise or city vise or all over thailand can be used?
When you register your company name, this will be registered in the whole of Thailand and thus can be used in any province such as Phuket. No other company can make use of that name in thailand.

Q18: Currently we do not have office in Thailand, we wish to put the registered address under your company address.
Yes, our office can provide the address for registration company our fee is Baht XX,000 per year.
Anyway we can provide you with additional services such as secretarial service.

Q19: I would like to secure my interests in the company so as any decisions that are made by both myself and my wife, not just my wife.
you can mention on the incorporated document that the authorized signatory will be yours as well as your wife's signature together.

Q20; the requirements for incorporation.
Promoter must be at least 3 individual promoters, (the company is not allowed to be one of the promoters).
- Shareholder, must be at least 3 shareholders whereas at least 1 must be Thai and 2 can be foreigners. In case of setting up a private company here in Thailand, a foreigner or foreign company can hold shares for a maximum of 49% and Thai for 51% and also be please be informed that the Thai shareholder might present the fund (bank statement) according to below:
In case the foreign investment is 40% but not over than 50% of capital OR in case investment is lower than 40% of capital but (with) the foreigner is authorized signatory, all Thai shareholders must present the evidence of source of funds that shows the amount paid for shares which can be one of the following:
- Copy of bank - pass book or copy of bank statement from the last 6 months, or
- Certificate from bank certifying or showing financial position of shareholder or
- Copy of evidence showing the source of funds to pay the value of shares.
- Share; normally each shareholder must hold at least 1 share which means the registered company must have at least 3 shares and value of each share is minimum Baht 5. Since you mentioned that your head office is located in US, US company is allowed to hold 100% under Treaty of Amity (between Thai and US)
- Capital; the minimum required capital as mentioned above is Baht 15, but actually we recommend you to put the capital fund as below:
a. With minimum capital Baht 1 million since the government fee is the same of minimum capital ( government fee will be based on each million baht increasing) OR;
b. With Baht 2 million for the purpose of applying work permit for foreigner, each foreigner must have capital of 2 million Baht.
c. Or depend on your business purpose, but please notice that when you declare the capital fund and not put that fund to deposit into bank account the Corporate Income Tax and Special Business Tax will be calculated as the company tax
- Witness; must have 2 Thais to be witness for company registration.
- Address in Thailand, must declare the address in Thailand for incorporation especially for applying the Tax ID number and VAT need to get the permission letter and location map as well as the office's picture to be presented to tax officer.
- Director; no requirement about director which can be Thai or foreigner but for the case of some business activity, the foreign director must have work permit to be able to sign documents such as opening of bank account with local bank.

- Period of accounting; can be ended at any date but not over 12 months.

Q21: How often does the foreign business license has to be renewed?
Subject to Section 7, Section 19, and Sections 20, the license shall be indefinitely valid until the licensee stops doing the permitted business.

Q22: When is the minimum capital requirement needed to be deposit to the company?
In case where the period of business operation is 3 years or more, the minimum capital must be brought or remitted within 3 years:
- During the first three months, not less than 25% of the minimum capital must be brought or remitted into Thailand;
- Within one year, 50% of the minimum capital must be brought or remitted into Thailand;
- The remainder must be brought or remitted into Thailand each year in the amount of not less than 25% of the minimum capital (provided that the
  amount of minimum capital must be converted into Thai Baht pursuant to the reference exchange rate at the date of bringing or remittance of
  minimum capital into Thailand).

Q23: We wish to invest in Thailand in the ……… industry. However we wish to own the majority stake in the Company. Our activity of business doesn't fall under any of the 3 restricted categories as mentioned in Foreign business act. Please clarify if we can register a simple limited company and own majority stake in it or we need to seek prior approval from any other department
we recommend you to setting up a private company and apply BOI privilege which you can own majority share capital and also have other privilege for The Related Tax and Non – Tax Rights as below;
The Rights and Privileges Related to Tax
Exemption of Corporate Income tax (Section 31, 34 of Investment Promotion ACT B.E.2520 )

Section.31(1)  Exemption of income tax derived from proportion of total investment excluding amount of Land and working capital within 8 years from the date that first income is derived from such activity. ( BOI card issued before 1st December 2001 has no limitation on exemption of income tax)

Section.31 (3)  The income on which the computation of the net profit derived from the activity referred to either paragraph one or two shall include income from the sale of such by-products and semi-manufactured products.

Section.31 (4) In case that the business had loss during the period of receiving exemption of income tax referred to either paragraph one or two, BOI may allow the business to deduct annual loss from the net profit after the expiration of the period of exemption of income tax for the period of not more than 5 years from the expiration date.

Section.34 Dividends derived from BOI business with exemption of income tax referred to Section 31, shall be exempted from computation of taxable income throughout the period.
Exemption of import duties on machinery.(Section.28,29)
Exemption of import duties on raw materials.(Section.30,36)

The Rights and Privileges Not Related to Tax (Non-Tax)
Rights granted with unlimited time and equal zones to the following:
- Import of foreign skilled craftsman (Section.24,25,26)
- Ownership of land (Section 37)
- Remittance of money out of Thailand (Section 37)

Q24: I would like to know about the rules and percentage of tax which I have to pay for salary of my staff and the expenses of company and profit;
it's different for company and individual (staff) tax rate as below:

Tax Rate for company
Generally, the rate of income tax for juristic companies and partnerships is 30% of net profits.

Reduced rates at the progressive rates of 15% to 25% are granted to small and medium-sized enterprises (SMEs), and reduced rates at the flat rates of 20% or 25% are granted to companies listed on the Stock Exchange of Thailand, and companies listed on the Market for Alternative Investment (MAI).

**SMEs is not over  Baht 5 million capital.

Tax Rates for Personal (Individual)
Taxable income (net assessable income) is arrived at after all expenses and allowances have been deducted from the assessable income. Taxable income shall be subject to tax at progressive rates ranging from 5% to 37%, with an exemption on the first Baht 100,000 of net assessable income, as follows:

Taxable income from

Tax Rate

Tax Amount

Accumulated Tax

0 – 150,000

Exempt

-0-

- 0 -

150,001 -    500,000

10 %

35,000

35,000

500,000 - 1,000,000

20%

100,000

135,000

1,000,000 - 4,000,000

30%

900,000

1,040,000

Over 4,000,000

37%





For individuals with a gross income, excluding income under Section 40 (1) of the Revenue Code (employment income), amounting to Baht 60,000 or more, the income tax payable shall not be less than 0.5% of said gross income.




Source: Ministry of Labor, as of February 2012
Website: www.mol.go.th

LuisF

Julien wrote:

Hi,
are foreign investors welcome in Thailand?
Is it complicated to register a company in Thailand? What is the procedure?
What is the corporate tax rate in Thailand?
Is it easy to recruit?
Any advice you would share with us?
Thank you very much for your participation,
Julien

Hi Julien;

in Short: Yes foreign investors are very welcome in Thailand.

For that reason it is very easy to register a new company.  There are however a few pitfalls and not-up-to-date information floating around - even form supposed to be profesionals.

Corporate tax rates: There are two tiers:
Small business - less than Tb 5 mil investment, less than Tb 30 million profit per year; 15% on the amount over 150,000 and less than 1 million baht profit; 23% on the amount above 1 mil baht profit.  For larger companies with more than Tb 5 mil investment = 23% flat rate.  2013 Tax year this will reduce to 20%.

Recruitment is easy - if you use Thai people.  At present not very high unemployment rate in Thailand.

I am in Pattaya and am willing to help new interested parties.