Thailand is a stunning country, full of amazing locations which attract visitors from around the world each year. Its culture alongside a fascinating history as well as lots of beautiful places to set up home sees many returning regularly, with a percentage of those deciding that a far longer stay would be preferable. That sometimes includes entrepreneurs who want to set up a business in the Land of Smiles.

Boats on a beach in Thailand

It is not unusual to hear foreigners chat, after seeing what the country has to offer, and dream of setting up a business there. Such thoughts are often dispelled because it is considered very difficult owing to Thai law. However, that is not necessarily the case, especially when sourcing the services of a trusted partner that can provide a BOI work permit. Here are 5 attractions of setting up a business in Thailand once that it has been obtained.

  1. Thailand is a fantastic place to live and do business, as well as being a wonderful strategic location, being close to China, Singapore, and Singapore, all major players industrial players. The country is part of a free trade agreement with many other nearby nations which offers the possibilities of increased business with them, while providing huge potential to access markets and economic integration with international partners.
  2. There is huge potential for foreign investment through the BOI, which is the local Board of Investment, a government agency that promotes new businesses and projects which benefits the Thai economy. They offer many incentives which include foreigners being able to have 100% ownership of a business and tax relief on certain activities, which makes investing more attractive. Perhaps those looking to start up will also benefit by hiring a bookkeeper.
  3. One of the reasons that many entrepreneurs may look outside their home country to set up a new concern is that they could be disenchanted by the regulations and laws that need to be adhered to. While Thailand has strict laws in place, it is an easy place in which to do business, with the nation being recognised by companies around the world, who set up branches there.
  4. Thailand has several economic zones in place supporting development, investment which is likely to help the economy. They offer easier access to foreign labour, and the incentive of reduced taxation. Most also provide good places to relocate and do business, making them increasingly attractive once some of the many opportunities have been considered.
  5. So many businesses in their own country fail to make a profit because they are saddled with high tax demands which can frustrate entrepreneurs wanting to help the local economy. Thailand offers low corporate tax rates which are attractive, with assistance being available from trusted partners of vast experience to choose the right options when setting up.

Those looking to set up a business in a beautiful place with excellent cost of living, a skilled workforce waiting to be utilised, and low tax rates, should consider Thailand by obtaining a BOI work permit.