With the current economy, many businesses in Thailand have risen tremendously. In fact, there is a growing demand for foreign investors where many of the savvy investors want to start their own business. The government and its people are excited with the inflow of all types of manufacturing, retail and import/export businesses, along with the possibilities of getting employed by these companies. To begin with, they want a new company formation in Bangkok as the city is the centre for business in the country.
For investors, you will want to understand the various types of ownership when operating a foreign business in the country. You will want to know how a company formation in Bangkok is done in Thailand. Through legal instruments, you can initiate a direct ownership of the business. Below are few examples on how to initiate a business that will make it most profitable:
- Foreign Ownership
For those foreigners who want to open a business in the country, their laws will require ownership of 100% of their business for specific non-restricted categories. The categories will include export/import businesses and various types of manufacturing businesses. If you are an American citizen, you can apply for an alien business license BOI, which may include assistance for an alien business license registering through the National Treaty of Amity.
However, the avenues will not include small companies in setting up a fully owned business in Thailand. The option is left to the majority of investors through the company formation in Bangkok, Thailand.
- Forming Your Own Company
In Thailand, big or small entrepreneurs can form their company in a variety of ways includingSole proprietorship, whichis owned by one individual with unlimited liabilities. His personal and business assets are subjected to any form of legal action. Only American citizens working under the Treaty of Amity are allowed to operate as a sole proprietor in Thailand.
Limited companies either public or private, on the other hand, operate with Western corporations and are the most used tool to formulate a permanent company in Thailand. This will require a minimum of seven shareholders all the time.