When it comes to setting up a company in Thailand, not only must you be aware of the legal issues, you must also be ready to commit a certain level of capital. At one time, you could probably have arrived in Thailand and set up a business on a small budget but now it is an emerging economy, you need to have the cash to back up your ideas.
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How Much Is Enough?
This really depends on the type of company you wish to set up in Thailand but most experts believe it is in the $100,000-$250,000 range. Businesses that fail to properly research their niche in Thailand and invest the requisite amount of money will inevitably fail. Remember, you will be up against a lot of rivals seeking to benefit from the rapid growth of the Thai economy; indeed, many of your competitors will likely be from your own country.
Setting Up A Business In Thailand
Americans have a distinct advantage over entrepreneurs from other nations thanks to the Treaty of Amity which allows them to own 100% of a Thai corporation. If you hail from another country, you will be subject to the rules set forth in the 1972 Alien Business Law which means you need Thai partners to set up your company.
Even American companies must have a minimum paid-up capital of 2 million baht which is just over $61,000 by today’s exchange rates. Certain licensed businesses will have to pay in excess of $90,000 to get started however. You must also budget for the fact you need to hire several Thai workers and have a place for them to work.
In other words, setting up a company in Thailand will cost north of $100,000 and probably quite a bit more. However, if you get it right, you have the multi-trillion dollar ASEAN economy at your fingertips.
