Business in Thailand — ideas, stages, advantages
Thailand attracts with its amazing atmosphere, great weather, interesting entertainment. Some guests of the country, having visited Thailand repeatedly, wish to stay in this state for permanent residence. Given the rather simplified system of running their own business and a wide range of ideas and opportunities, many open their own business in Thailand. So which business is better to choose? What are the stages of starting your own business? What should be considered when conducting this activity?
Experienced businessmen say that before you start or buy a business in Thailand, you should, first of all, correctly assess your financial capabilities and personal qualities. Do you know English and Thai languages well, have you studied the conjuncture of the Thai market correctly, have you found a qualified law firm that will protect your interests and resolve conflict situations?
According to statistics, the following business ideas in Thailand are considered to be the most profitable for Russians: rental property, tourism and hotel business, export of goods from Thailand.
Regardless of the direction of business, a foreign entrepreneur is obliged to fulfill certain conditions:
- First of all, a foreign entrepreneur is prohibited by law from fully issuing a business; therefore, a Thai citizen must be a business partner. Business in this country is made only under this condition.
- Secondly, a long-term visa will be required. Visa can be obtained upon presentation of the necessary documents, this package also includes the written consent of the Thai partners to conduct activities.
- Thirdly, a Russian businessman can only have 49% of the shares. In accordance with the law, 51% of the shares belong to a business partner — a citizen of Thailand.
Businessmen who want to skip the long search for partners and long-term design, can use the services of law firms and buy ready-made business in Thailand. When acquiring a “turnkey” business, an entrepreneur will not have to independently hire staff and “build relationships” with partners and government agencies, since everything will remain from the previous manager.
What business to open in Thailand a citizen of Russia?
Every year Thailand is visited by many tourists and travelers, the tourist and restaurant business are undoubtedly the main directions, and, of course, the most profitable ideas, both for starting a new business, and for improving and investing already existing activities.
Doing business in another state requires maximum responsibility, knowledge of the language and laws of the country. If you do not first learn the basics of the law, then when you open a business in Thailand for Russian can be serious problems. In order not to violate the law, you should first examine certain restrictions for foreign entrepreneurs.
Prohibited activities for foreign citizens
- Publishing or editing of print publications;
- Traditional Thai craft;
- Construction and architecture;
These activities do not tolerate outside interference, are one of the most important areas for the state and are strictly prohibited for foreign businessmen. But, nevertheless, Russian citizens are offered a wide range of opportunities, while observing state laws and certain rules, foreign entrepreneurs can engage in the provision of services, the sale of a certain product, the hospitality and entertainment sphere. Consider a few common business ideas.
The main types of business in Pattaya
Motorcycle rental. The main advantages are a small start-up capital, quick payback and the availability of demand among tourists. The main task for an entrepreneur is to choose a suitable place to rent the necessary space and purchase the appropriate equipment.
It should be noted that a foreigner can only rent a room intended for running a business or office, since the purchase of real estate by foreign citizens in Thailand is prohibited. The only way out of this situation is a joint acquisition. In this case, the room will be issued to the citizen of Thailand. It should be noted, the state will always be on the side of its citizens, so a Russian businessman will need the help of a lawyer who will accompany the entrepreneur at every stage, explain the nuances of documentation, resolve conflict situations, because in case of intervention of the police or the court, government bodies will undoubtedly protect interests of the citizens of their country.
Hotel — restaurant business. It is worth noting that it is a combined enterprise (for example, a bar with hotel rooms) that is more reliable than a snack bar or cafe. According to statistics, 85% of small catering establishments are closed in the second year of operation, and hotel business, by contrast, is in great demand in Thailand. The main task of an entrepreneur is to hire qualified personnel and pay attention to creating an unusual, attractive interior in order to provide first-class service and a cozy atmosphere. Attract visitors can only quality service, interesting offers, unique ideas that guests can not find a competitor.
Furniture exports from Thailand . This type of activity is very popular among our compatriots, thanks to the simplified system of organizing supplies. Thus, a foreign entrepreneur opens his own firm and enters into a contract with a Thai manufacturer. Next, an account is opened at a state bank, certificates and customs codes are ordered.[quote font = «arial» font_style = «italic»] Production is paid by bank transfer in accordance with the terms of the signed contract, delivery is carried out by sea. [/ quote]
The main task is to correctly calculate the state duty, VAT, to carry out activities in accordance with the terms of customs control and product certification. For these purposes, you should hire a qualified accountant and be sure to use the services of a law firm that knows all the details of this area.
Stages of opening a business
- Competent choice of a field of activity. The leading destinations in the country are tourism, restaurant and hotel business. Therefore, any company that meets the demand and requirements of tourists, will bring a good profit.
- Determining the status of an organization. As a rule, a Russian entrepreneur is offered two options: become a partner of an existing organization or open his own private enterprise. In this matter, you should consult with a qualified lawyer who will help determine the features of the relationship between entrepreneurs, competitors and government agencies.
- Registration of business — visas. To obtain a visa, an entrepreneur will need an approved business plan. In addition, the consent of the Thai partners to conduct this activity should be submitted. The necessary documentation should be issued in the Thai embassy in Russia. After obtaining a visa, a foreign entrepreneur is sent to Thailand to register his own enterprise.
- Search for partners. At this stage, appeal to a lawyer is required. The specialist will help you competently arrange the necessary documentation, select and rent the optimal place (building) for the new enterprise. It should be noted that the purchase of the premises will be much more expensive than the monthly rent; it is impossible to buy the premises yourself. Therefore, it is recommended to make a purchase with Thai partners.
Buying a ready business
Acquiring a business in another country is a rather complicated process, it requires maximum responsibility and attentiveness. First, the company offering you to buy a business in Thailand, must have documentation confirming the right to carry out this activity.
Secondly, the business offered to you must be registered, have the necessary documentation, authorized capital and, in most cases, recruited staff. The advantages of buying a ready-made business lie primarily in the established relations of the previous leader with partners, competitors and the state. You just have to take matters into your own hands and continue the established business. The main drawback is the risk when choosing.
Ignorance of the intricacies of conducting this case, documentation in a foreign language and other nuances can lead to serious consequences and loss of funds.
Experienced businessmen recommend getting a good experience in the area in which you want to invest, be sure to use the services of a lawyer and a translator, competently check any information relating to your business.
Be sure to consult with compatriots, surprise the local population with unique ideas, improve professional skills, carefully study the fundamentals of legislation and foreign languages. With proper management at every stage, you will definitely achieve your goals!