When in Thailand always ensure that before you sign any agreement that you have had an attorney look at the agreement. Most agreements in Thailand tend to be in Thai as the legal system in Thailand will only accept legal documents in Thai with an English translation attached to it.

Business Registration

See the articles on business registration in Thailand and the options you have in this regard. There are basically limited liability as well as unlimited liability companies. These depend on the type of business being setup. There is also representative offices which are rare and setting up an NGO or foundation in Thailand which can take a year to register.

Business Types

Consider what the best business opportunities are in Thailand. The language school business has died out as well as internet cafes. The market has changed over the last 10 years when internet cafes had been very popular. Today it is mostly for kids playing online games and nothing more. With 3G and 4G internet has now become more mobile and so the death of internet café arrived in the space of 10 years. Restaurants are also being replaced by delivery services and bars are moving towards theme bars. It’s a changing market.

Business Licences

If you wish to sell beer or cigarettes then you will need a liquor licence as well as a cigarette licence. You are not going to get this is you are located close to a school or a temple. The same will go for an entertainment licence. Also you need to check your zoning in the area. Bangkok and Pattaya has been divided into zoning areas which allow certain business in certain locations only. You will need to find an attorney to show you the zoning on a map.

Business Taxes

Taxes be this VAT as well as business tax needs to be registered. VAT and business taxes are normally paid before the 15th of the following month. Note that you will need these documents as well as your social security registration when you apply for a work permit to work in your own business.

If you are buying a business then also ensure that the agreement is correct and that all taxes have been paid as well as checking that the business does not have loans against it or being used as collateral. You will need to consult a law firm in Thailand for this.

 

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