Why Is The Company Registration In Thailand Important?

You work with ambition if you are thinking of a company registration in Thailand. Companies who don’t have the ambition are probably too scared to risk their expansion in places like Thailand. For several years, Thailand and other Southeast Asian nations have depicted themselves as backward. People seem to ignore the fact that around 16 million tourists who come to Thailand each year are somehow fascinated by this country. There’s also the improving economy of Thailand against the recession stricken nations of the West. That’s why companies consider this registration a must.

Economic Sense: A new business startup owned by foreigner will need the company registration in Thailand to provide them with many benefits. The business can take advantage of the fact that Thailand is the centre of the Southeast Asian business hub, which many businesses are made wealthier indeed.

AFTA: The Southeast Asian nations have joined forces together recently in the hope to make their countries more attractive to foreign investors. Advocates now refer to the new ASEAN Free Trade Area (AFTA) agreement which includes Thailand, Indonesia, Malaysia, Brunei, Singapore and Philippines. The other four countries in ASEAN are Myanmar, Laos, Vietnam and Cambodia, whichare expected to join the AFTA in 2015. The AFTA agreement has made the import duties between these nations to zero. Hence, it makes trade simpler and faster among nations.

Stability: Companies are happy to know that the country is highly stable from a political standpoint. The Thai government is a fundamental monarchy, with teachings of Buddhism as a paramount importance and the veneration of the Monarchy. The King of Thailand has been on his throne since the 1950s. Thailand’s economy has been growing increasingly due to the AFTA agreement and the stable political situation.

Fast Registration: Another benefit of the company registration in Thailand is related to the country’s board of investment which offers tax incentives to foreign companies in the hope of minimizing the falling unemployment rate of the country. In Thailand, literacy rate covers 92% of Thai universities producing graduates whose capabilities surpass those of their Western counterparts. The BOI have made it possible for foreign businesses to register in Thailand. Visas and work permits can be easily obtained. Companies opting for the local services can do business in Thailand in a matter of weeks.

By Nikki Sanderson Posted in Business