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BUSINESS IN THAILAND

    Dear Sirs!

    Thailand - is a great place for business development. After reviewing a number of socio-economic indicators, you will discover new opportunities:

  • Long tourist season (October – July)
  • The steady growth of national gross product
  • The increase in investment volumes
  • State support for development of infrastructure
  • High quality of health services
  • Increased international education
  • Freedom of religion
  • Nationality Equality

    Of great importance in the economy of Thailand takes tourism. Its share in GDP is about 10%. Even hard to imagine that in Phuket province for 400 thousand local population accounts for more than 6-8 million tourists per year. According to the statistical report (http://www.tradingeconomics.com/thailand/gdp-growth-annual) in 2014, Thailand was visited about 25 million people.

    Due to the increasing flow of tourists, made the empowerment of Phuket International Airport to 12 million visitors per year. The State pays great attention to the construction of new transport routes and interchanges.

    The state policy of attracting investments in such sectors as automotive, electronics, computer and consumer electronics, construction, mining sector, metallurgy, agriculture, textiles, consumer goods, logistics, communications, services, education and medicine, goes to a new level.

    GDP first quarter of 2015 shows increase of the level up to 1.6%.

    Despite the global crisis trends, Thailand is the Asian country as "the most successful example of the proper development of the country".

    Company Registration in Thailand

    If you decide to start a business in Thailand, contact the experts of LOKART INTERNATIONAL.

    For a correct choice of the form of the enterprise and the legal regulation of activities, you need to tell us about the intentions, objectives and form of doing business in Thailand.

    Two or more individuals can organize a company in Thailand. If a member of the company is non-resident, for the organization of Limited Liability Company he will need two Thai partners with the distribution of shares of 49/51%.

    It is necessary to offer several options for the company name, specify the name of Managing Director, order form printing. For a Thai company with two residents the authorized capital is 1 million Thai baht, and for one company nonresident participant - 2 million Thai baht, in the future, increase the share capital due to the number of non-resident workers in the enterprise. For each non-resident worker the authorized capital increases, multiple for 2 million Baht. The legal address of the enterprise must match your actual location by lease agreement. Full registration or change of registration of the director usually does not exceed 14 days, according to the legislation.

    Thai law strictly regulates business restrictions for non-residents, separated into three registry, according to the Business Act for non-residents (Foreign Business Act B.E. 2542/1999).


    LIST ONE. The businesses not permitted for foreigners to operate due to special reasons:
      1. Newspaper business, radio broadcasting and television station business.
      2. Rice farming, farming or gardening.
      3. Animal farming.
      4. Forestry and wood fabrication from natural forest.
      5. Fishery for marine animals in Thai waters and within Thailand specific economic zones.
      6. Extraction of Thai herbs.
      7. Trading and auctioning Thai antiques or national historical objects.
      8. Making or casting Buddha images and monk alms bowls.
      9. Land trading.

    LIST TWO: The business related to the national safety or security of affecting arts and culture, tradition, folk handicraft or natural resource and environment.

    Group 1: The businesses related to the national safety and security.

      1. Production, selling, repairing and maintenance of:
        a) Firearms, ammunition, gunpowder, explosives.
        b) Accessories of firearms, ammunition and explosives.
        c) Armaments, ships, air-crafts or military vehicles.
        e) Equipment of components, all categories of war materials.
      2. Domestic land, waterway or air transportation, including domestic airline business.

    Group 2: The business affecting arts and culture, traditional and folk handicraft:

        1) Trading antiques or art objects being Thai arts and handicraft.
        2) Production of carved wood.
        3) Silkworm farming, production of Thai silk yarn, weaving Thai silk or Thai silk pattern printing.
        4) Production of Thai musical instruments.
        5) Production of goldware, silverware, nielloware, bronzeware or lacquerware.
        6) Production of crockery of Thai arts and culture.

    Group 3: The business affecting natural resources or environment:

        1) Manufacturing sugar from sugarcane.
        2) Salt farming, including underground salt.
        3) Rock salt mining.
        4) Mining, including rock blasting or crushing.
        5) Wood fabrication for furniture and utensil production.

    LIST THREE: The business, which Thai nationals are not yet ready to complete with foreigners:
       1) Rice milling and flour production from rice and farm produce.
       2) Fishery, specifically marine animal culture.
       3) Forestry from forestation.
       4) Production of plywood, veneer board, chipboard or hardboard.
       5) Production of lime.
       6) Accounting service business.
       7) Legal service business.
       8) Architecture service business.
       9) Engineering service business.
       10) Construction, except for:

        a) Construction rendering basic services to the public in public utilities or transport requiring special tools, machinery, technology or construction expertise, having the foreigners minimum capital of 500 million Baht or more.
        b) Other categories of construction as prescribed by ministerial regulations.

       11) Broker or agent business, except:
        a) Being broker or agent for underwriting securities or services connected with future trading of commodities or financing instruments or securities.
        b) Being broker or agent for trading or producing goods or services necessary for production or rendering services amongst affiliated enterprises.
        c) Being broker or agent for trading, purchasing or distribution or both domestic and foreign markets for selling domestically manufactured or imported goods in the manner of international business operations having the foreigners’ minimum capital of 100 million Baht or more.
        d) Being broker or agent of other category as prescribed by ministerial regulations.

       12) Auction, except:
        a) Auction in the manner of international bidding not being the auction of antiques, historical artifacts or art objects with are Thai works of arts, handicraft or antiques or having the historical value.
        b) Other categories of auction prescribed by the ministerial regulation.

       13) Internal trade connected with native agricultural products or produce not yet prohibited by law.
       14) Retailing all categories of goods having the total minimum capital less than 100 million Baht or having minimum capital of each shop less than 20 million Baht.
       15) Wholesaling all categories of goods having minimum capital of each shop less than 100 million Baht.
       16) Advertising business.
       17) Hotel business, except for hotel management service.
       18) Guided tour.
       19) Selling food or beverages.
       20) Plant cultivation and propagation business.
       21) Other categories of services except that prescribed in the ministerial regulation.

Proceeding from the above:
       • Types of business activities specified in LIST ONE is strictly prohibited for non-residents.
       • The LIST TWO is denied to non-residents, if there is no resolution of the regulator.
       • Types of business activities contained in the LIST THREE are prohibited without the permission of the General Director of Commercial Registration Department.

    Requirements of the legislation must be observed. Any company with members of non-residents may apply to the Office of Foreign Business License, if the activity is limited to legislation.

    LOKART INTERNATIONAL will assist you!



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Tel:   +66 (0) 76 381026
Fax:  +66 (0) 76 381027
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