Business in Phuket

If you are planning to relocate to Phuket/ Thailand and want to start a business, it is important to have basic information about Thailand and some understanding of business laws and procedures. When you are making investment in property or in business, it is always recommended to hire experienced lawyers even if you have to pay a little more (especially in the beginning). It will not only save your money in the longer run but will save plenty of your time. Thai laws and visas are complicated, and it may take a little time for you to understand in the beginning, and because all documentation is in Thai, you need services of good lawyer. You must avoid short-cuts for getting work permit, long terms visas and licenses etc.

If you are buying a ready made company in Phuket, make sure that the selling company does not have any tax obligations. To check this, you need services of an accounting firm. In most cases, we recommend our clients to form a new company while undertaking any business in Thailand. The first benefit is that you don’t have to worry for tax obligations at the beginning of your business operations.

Location is the most critical for the success of  your business and/or if you are expecting good returns from real estate investment. It is also recommended that you should venture in a project in which you have relevant skills. If you are venturing in new business, it is then recommended to start on a small scale. You can survive in Phuket without without learning Thai, but it will be good for you to take time out and learn Thai  if you plan to stay in Thailand for long time.

Always do your research before taking any final decision. If you have doubts, ask for business appraisal. For Frequent Asked Questions, click here.

Some useful information is compiled to get you started.