The diverse economy of Thailand offers expats a number of exciting opportunities. It has one of the most dynamic economies in all of Southeast Asia and has rebounded well after the global economic crisis. If you plan on starting some type of small business in Thailand, it can be helpful to get assistance from an experienced tax advisor or lawyer. Having a skilled, knowledgeable professional to provide advice on legal and financial matters can be invaluable.
Expats can face a few challenges when coming to Thailand to set up a small business. They need the proper work permits, along with other items like a business license from the Ministry of Commerce. It's also important to learn a few things about proper business etiquette in Thailand. As with many nations around the world, there are specific lessons to learn about following local protocols and customs.
Opening Your Small Business in Thailand
Thailand has a wealth of profitable small business opportunities for expats. One of the first decisions to make, concerns how to set up your new business. Choosing the right legal structure can make a difference in how much you'll pay in taxes and fees. If you live in Thailand for more than 180 days out of the year, then you're considered a resident and must pay a Personal Income Tax. An experienced accountant in Thailand can give you all types of important information about this so that you can make sure that you follow the laws and regulations.
Minimize your Personal Taxes
Personal Income Tax must be paid on income from any type of business, rental arrangements, royalties and dividends and any type of employment. One way that entrepreneurs can save money when setting up a new small business in Thailand is by leasing virtual or serviced office space. This type of arrangement allows you to get a dedicated receptionist, professional office space, phones, internet and all other HR and IT services for a low monthly price. Meeting rooms and boardrooms are also available for those important meetings with investors or potential clients.
Get a Unique Business Address in Thailand
Having a prestigious downtown address in Thailand for your small business will give you many advantages over your competition. For one thing, investors and clients will see your business in a more professional light and have greater confidence in your brand. Even when your company grows, you may still want to continue using serviced and virtual offices, simply because you can get much nicer furnishings, décor, high-end finishes and a professional staff for a fraction of the normal costs.
Executive Suites and Meeting Rooms Available
With Servcorp Serviced Offices, your business can get off on the right foot by operating out of an attractive, upscale office suite. Our company specializes in giving entrepreneurs a prestigious address in Thailand, a skilled receptionist, comfortable office space and many other quality services. Servcorp is dedicated to excellence and provides everything a small business owner needs to get important clients and grow their business. We offer spectacular downtown addresses and highly skilled staff members who are at your disposal whenever you need them. Please contact Servcorp Serviced Offices for more information about getting a prestigious address in Thailand for your new small business.