If you are a business owner and you want to expand your business to Thailand or maybe you want to start your own business and you've been looking for how to start a business Thailand, you are in the right place. This post has all the information you need for starting your own business.
Formal meeting in the country is always followed by a written invitation with a phone call; you have to get this right while doing business with them.
To maintain a business relationship with the Thais, you need to be a little bit personal during a business conversation. So relax and feel free during a conversation with your Thai business partner. This first part is crucial when meeting your business partner in Thailand hence, the reason why we have it on our guide of how to start a business Thailand. Don't be surprised if there is a little bit of entertainment and dining during your first meeting with them.
Punctuality is key when doing business with the Thais, and for a business meeting, formal attire is the best option, just a suit and tie are enough. White long sleeve shirt, dark suit, and tie are the best option. Your appearance is important to them, in Thailand, you are addressed the way you are dressed.
Normally, the main greeting style in Thailand is 'wai,' this includes getting your hands together, the same way you do it when praying and slightly bowing your head. You can smile at your Thai counterpart and nod your head slightly when greeting them; this is a sign of respect to them.
The hierarchical structure is well respected in the country, Thais respect their elders a lot. They will always try to determine where you fall in, in order to give you respect according to your status.
They accept gifts for the first meeting, so you can present gifts to your Thai business partner during the first meeting, they'll appreciate it. This is how to start a business Thailand you don't have to forget when meeting your business partner for the first time in the country. Some courtesy like offering to help them means a lot to them and this alone can help you achieve your goal in the country.
Thais are mostly Buddhists, respect their religion, and don't take pictures of the Buddhist structures in the country.
When you want to present a gift to your Thai business associate, use your two hands as using one hand to present a gift is offensive. And while eating use a spoon instead of a fork.
Now let’s see how you can start your business in the country.
Before starting your business in Thailand, the first thing you’d do is choose the type of business you want to do in Thailand. If your company is not a member of the Board of investment program, most of the shareholders will be Thais.
The next thing is to check the country’s foreign business act, you must check this if you want to do business in the country. By going through the foreign act, you’ll discover businesses that are prohibited in the country and the rules guiding foreign business in the country. So, you mustn't skip this part when looking for how to start a business Thailand.
With the business act, you’ll find ut the things you should do and those you shouldn’t do as a foreigner in the country.
It is important to register your company's name in Thailand but then make sure the name is available so you can use it for your domain name. You can do that with the appropriate body in the country.
The second part of this can be complicated and it depends on the type of business you do, this part includes things like a list of shareholders and application form, declaration of business operation form, memorandum of action, etc.
For small businesses, it is advisable to get a co-working space for your business and some service providers in the country will help you with that.
Choose the right payment gateway for your business if you are running an eCommerce shop in the country, this is important for business owners looking for how to start a business Thailand, probably, those who want to expand their business to the country. By choosing the right payment gateway that is available in the country, you can easily receive payment from your customers in the country.
Scroll down to read our indepth Thai Ecommerce Platforms guide. What you should know, Thai Ecommerce Platforms features, price plans and support. Pros and Cons of Thai Ecommerce Platforms as a ecommerce, everything is explained below.
How To Start A Business Thailand Table of Contents
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