As your business depends crucially on your target audience, it is crucial you match the demands of you target audience with a sufficient supply. It is beneficial if you offer products or services that target the local people of Thailand rather than outsiders. Although a tourist country, a start-up will benefit from a vast and regular local crowd rather than a small and irregular percentage of people, who would travel only one a year.
How To Start A Business in Thailand
Capital and start-up
The startup capital should amount one sufficient to do all the start up procedures.You will also need to keep a small amount aside for other expenditures when the venture is past its start-up period. As per the government regulations, foreigners cannot solely control a company but needs to have a partnership with a Thai citizen. Also, the foreigner can control only 49% shares as compared to the 51% held by the resident of Thailand.
If you want to get all the license and permits like the Business Visa for Thailand, work permits, tax licenses, etc. done, it is safer if you do it with a lawyer you know, as compared to one that is known by the local shareholders, to be on a safe side.
Do try and speak Thai.
Any attempt by a foreigner to speak Thai is greeted with happiness and encouragement. You can make yourself understood in everyday situations such as ordering food and buying tickets, etc.
Do show great respect to monks.
As a general rule, women should withdraw all physical and eye contact with a monk. It is always appreciated if you give up your seat for a monk and the river express boats in Bangkok even have individual Monk only areas. As with several places, giving up your seat for an old person is also appreciated.
Try the street food.
Many people are afraid of trying the infamous Thai street food; Bangkok is particularly famed for its excellent street food. This probably stems from our sanitized, health and safety conscious way of life in the West. However Thai street food is up there with the best, the general rule going to the busier looking stalls and stalls with a large Thai clientèle.
Do try and dress respectfully.
While no-one could care less if you’re wandering around in shorts and t-shirts, remember that modern Thailand is a relatively conservative place. Thai people (especially the older generation) tend to dress smartly for all occasions, at the very least and polo-shirt and jeans. Certainly, don’t wander around town in your swim-wear as you see in many European resorts.…