Thailand: Setting Up a Company and Relocating to a Tropical Paradise
It usually begins with a holiday to the South of Thailand and from that first experience, most people are instantly smitten with the Land of Smiles and some are so taken with Thailand, they decide to sell up and relocate.
Why not live the holiday lifestyle all year round?
Of course, if you are going to sell your property at home and look to acquire real estate in Thailand, this can be an issue (foreigners are not allowed to own land), yet if you set up a Thai company, the company can acquire the real estate. There are companies that handle BOI company registration in Bangkok when you are ready and whatever your business, the local law firm can offer you the best advice on how to set up your business. This will also give you long-term visas for you and your partner, which is yet another problem solved.
Board of Investment
In Thailand, the current government are trying hard to encourage foreign commercial investment, as they have a first-class infrastructure and when you register a BOI company, there are many benefits, including multiple work permits, business visas and significant tax waivers. If you would like to learn more about the Thai Board of Investment, search online for a business law company that specialises in setting up businesses for foreigners and they can advise you on the best package for your business.
The best place to register your business is Bangkok and there is a lot of top-quality office space in the CBD district (Sathorn Road), but if you are longing for the tropical beach, you could open a small local office there and work from that location. If you are a freelancer, there are pros and cons to the digital nomad lifestyle, as this blog outlines.
Long Term Visas
It is quite difficult to obtain long term visas to stay in Thailand, which is normally restricted to those who are married to a Thai national, those over 50, who qualify for a retirement visa and professionals recruited by Thai companies. You could study the Thai language or Buddhism, which can assist in obtaining a 12-month visa, but the best solution is to choose a company formation package that offers working visas.
Local Law Companies
Any person who wishes to set up a business in Thailand should search online for a Bangkok-based law firm that handles foreign business registration. They have a deep understanding of the legal processes involved with setting up a business and will offer you the best advice, while also presenting your application and facilitating the setting up of your company.
The pandemic has made travel very difficult and you will probably have to quarantine for 14 days upon arrival in Thailand, as this government website clearly states.
Once the legalities are over, you can pack your bags and plan for your new life in the tropical paradise of Thailand, which is the start of a new and exciting chapter in your life.