How to start a business in Thailand (and is it cheap?)

Do you know how to start a business in Thailand and how much it would cost to do so?

While Andrew is not a big fan of Bangkok, Thailand is a popular place for expats and expat entrepreneurs.

Southeast Asia really is the land of opportunity for those who know how to seize it.

But though the atmosphere of this area is laid back and easy going, doing business in Thailand sounds easier than it actually is.

You need to have enough financial resources to cover six-figure funding for your company.

In Cambodia and other countries, things are much easier, but these are also less developed markets.

To get a business going in Thailand, you need capital, office, Thai employees etc.

The thing is that doing business in Thailand isn’t a new idea, so being a foreigner won’t give you an advantage.

There’s a lot of competition going on, and it’s important to be aware of it.

For more info on life in Thailand, we recommend this video:

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Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.

Andrew started Nomad Capitalist to help people like you follow his five magic words: “go where you’re treated best”. He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.

He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.

As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.

Nomad Capitalist’s Youtube channel is based on Andrew’s vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.

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21 Replies to “How to start a business in Thailand (and is it cheap?)”

  1. LW

    love Thailand but the inflation there is huge since my first visit in April 1998…that said, I love how Thais want to improve their lives and infrastructure unlike the Philippines…perhaps I would have thought more opportunities in buying/selling thru Vietnam…cheers Luke

  2. Dody Dody

    Business in Thailand very high risk start from High Tax specially for foreigners , many documents and Routine need it and if you Late just late for paid maybe you can't renew your Visa very strict and sure if you can't renew your Visa you have to leave the Country and loose all your business money and maybe they will surprise you about hidden something in Tax plus Social security be noted that your private accountant most of them not honestly and they will not extend you all information about hidden Tax they have around 5 kinds from Tax you should to due them at the specific time without pay penalty to continue your Visa and accomodation , Immigration officers very very complicated personality and they hate foreigners , Laos or Cambodia are the best for Business nowadays specially Food & Beverages sector .

  3. deepcell

    Thailand is full of scam, be aware.
    Huh? Doing business? sounds funny to me but okay!! maipenrai! just be prepared for the inevitable ripoff!
    It works great for corps. settle down, use the dirty cheap labor!
    The lack of commitment of Thai people will drive you crazy!

  4. BigD Travels

    I just wanted to open up a Small Bar in Pattaya…I was gonna spend 50k, don't want to make a lot of money, was just gonna get 5 girls to work for me and chill out in the bar all day while they work.  No good?

  5. Truth4ever

    The system and culture are designed against foreigners from doing business in Thailand. When Thais see you are a foreigner, every little detail will be difficult, every large issue will be monumental. They will do things to you they would never do to a Thai. "You need document A." So, you bring in document A. "You need document B." You bring in document B and on and on until you get so frustrated and give up. Business decisions in Thailand are influenced by how much fun the task is, how it contributes to the person's status, and other non-business related conditions. You really cannot do business in a serious way like in the West. You have to look at it more like an unenjoyable hobby. As a Thai business person told me about how Thais view foreigners "They want your money, they just don't want you." It's also a lousy place for a foreigner to work because the rule of law is not enforced for foreigners so discrimination, two tiered pricing (Thai and foreigner), and a general lack of business responsibility as the West views it. Lastly, the country has really gotten to be more of a consumer goods/materialistic culture over the last 15 years. Blame the West for that.

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