If you are torn apart deciding whether to set up a home office or a virtual office in Thailand, look no further. Below is everything you need to know. However, let's start by discussing why you should be interested in doing business in Thailand in the first place. Thailand is one of the most popular business destinations in Asia because of many factors, one of the most notable being the ease of doing business.
According to the latest World Bank Group report on the ease of doing business, Thailand ranks no. 49 out of 189 countries/economies. Thailand is ahead of countries like China and the Philippines, which rank no. 84 and no. 103 respectively, according to the 2016 ease of doing business report by the World Bank Group. Thailand is one of the best places to start a business in Asia, especially if you are a foreigner.
The country has enacted favorable policies for attracting business across borders. It is very easy to register a business, get business permits, access finance,etc. International businesses also enjoy tax incentives and special protection (especially minority investors). The infrastructure is also conducive for business. This explains the influx of international businesses in Thailand in the past few years.
Once you get to Thailand however, you'll need to setup an office. Depending on many factors such as the nature of your business, a home office may be better than a virtual office and vice versa. Which one is better? To answer this question, below are some important considerations to make.
Home Office Versus Virtual Office in Thailand
Home office in Thailand
Thailand's internet penetration rates stand at approximately 25%, according to the latest statistics. Internet connection is somewhat limited on a local level in most parts of the country. As a result, setting up a home office is ideal only in specific locations, i.e. near large city like Bangkok.
Home offices in Thailand are also ideal if you are conducting online business as opposed to traditional business. Most foreigners traveling to Thailand for business do so to conduct traditional business, i.e.trading, so home offices are not as popular as traditional offices. In fact, you do not need to set up a home office in Thailand to do online business targeting Thailand. You can do it from anywhere in the world.
Although a home office will reduce expenses, offer more flexibility among many other benefits, your clients will not take you seriously if you have to conduct face-to-face meetings in the course of conducting business. A home office is only ideal when all business is being conducted online. A virtual office in Thailand will be more functional to the typical foreign businessperson in Thailand.
Virtual office in Thailand
Regardless of the kind of business, you choose to conduct in Thailand (online or offline), you will most probably be required to meet your clients occasionally. This is where a virtual office comes in handy. Virtual offices offer a variety of benefits the most notable being professionalism without having to incur the costs and face the inconveniences of setting up a traditional office.
A virtual office allows you the luxury of working from home as well as having an office address in a prestigious building/area for use as you wish. Virtual offices offer clients all the benefits of having a traditional office minus the stress and expenses involved. A virtual office will forward calls to your home or mobile phone. The office will also receive mail/correspondence on your behalf and offer you other office facilities, i.e. meeting/conference room facilities when you need them.
Furthermore, you only pay for the facilities you use at any given time which makes it extremely cost effective. This is unlike traditional offices which have to be paid for every month whether or not you use them. Virtual offices also offer unmatched flexibility. Top virtual office services companies in Thailand offer their services in many locations, making it incredibly easy to meet clients and conduct business in many different locations. Virtual offices also come with dedicated office staff at a fraction of the cost.
Verdict: Home Office Versus Virtual Office in Thailand
In a nutshell, a virtual office in Thailand will be more ideal than a home office, especially if you are an international/foreign business person keen on maintaining professionalism and unmatched flexibility. Also, having access to all essential office resources without having to spend a lot of time, effort and money setting up and running a typical office.
Servcorp is Thailand's top virtual office service provider. We offer virtual office solutions to both large and small businesses enabling them to run as well as optimize business operations in Thailand without having to incur the high cost and hustle of setting up traditional offices. Call +66 2 207 2600 to get a free tour of our facilities. Our virtual offices will give you a complete professional business presence in Thailand at a fraction of the cost.
Read more at http://www.servcorp.co.th/en/news-articles/business-articles/home-office-versus-virtual-office-in-thailand-what-you-need-to-know/#zHkR0VAIQMxO2zby.99