If you’re just starting a business in Thailand, understanding the BOI can give you a real competitive edge over a standard company. Here’s a clear look at what the BOI is, the privileges it offers, and how it compares to running an ordinary SME — so you can decide whether it’s the right path for…
Establishing a company under the Board of Investment (BOI) promotion in Thailand offers several advantages compared to forming a Thai Limited Company (also known as a Thai Private Limited Company or Thai LLC). Here are some key benefits: It’s essential to note that while BOI promotion offers significant benefits, it also comes with specific obligations…
We are thrilled to announce a groundbreaking addition to our website that will revolutionize the way entrepreneurs and business enthusiasts embark on their journey of establishing a new company in Thailand. Today, we unveil the Company Name Availability Checker, a powerful tool designed to streamline the process of finding the perfect name for your business….
Legal Contract Drafting (Thai and English or both) As more and more people resettle in Thailand, the rise in the need to enter into a formal contract increases. The need for contracts beyond the usual employment contract or condo lease agreement has become a necessity and here at UnionSPACE, we want to make this process…
Thailand, known for its beautiful landscapes, rich culture, and vibrant cities, has also been gaining recognition as a promising destination for investors. With a growing economy and a strategic location in Southeast Asia, Thailand offers numerous investment opportunities. However, like any investment destination, it comes with its own set of risks. In this comprehensive guide,…
It is important to properly dissolve a company after its business operations have ceased or if the company is no longer active in Thailand and in most countries. Properly dissolving a company involves completing a series of legal, financial, and administrative steps to wind down its operations, settle its affairs, and terminate its legal existence….
Entrepreneurs and investors seeking to establish a business presence in Thailand often face a crucial decision: whether to start a new venture from scratch or take over an existing business. While both options have their merits, this article aims to shed light on the numerous benefits associated with acquiring an existing business in Thailand. From…
There are 3 main components to comply with before you can legally import / export things into Thailand. #1. You’ll need to incorporate a VAT registered company in Thailand#2. You’ll need to apply for a general Import/Export License (usually valid for 3 years)#3. For most items that you may be interested in importing or exporting,…
The withholding tax (“WHT”) is a tax deducted at source from the payment of a service invoice. WHT rates depend on the nature of provided services. Upon payment of a service invoice, the payer must provide a withholding tax certificate to the vendor to justify the WHT deduction, The purpose of this is that the…
In Thailand, it is not mandatory to register for company as a VAT Company when your revenue is below THB1,800,000 per financial year however registering as a Value-Added Tax (VAT) company in Thailand can provide a number of benefits for businesses. Some of these benefits include: However, registration for VAT also comes with some obligations…
There are several ways to obtain a long-stay visa for Thailand, depending on your purpose of stay and the length of your stay. Here are a few options to consider: It is important to note that the requirements for obtaining a long-stay visa in Thailand may vary depending on your nationality and the type of…
Bangkok is a vibrant city with an active business scene, making it a fantastic location for networking with other professionals. You can meet and network with business professionals in a variety of settings, from formal events and conferences to more informal networking opportunities. The following are some of the top sites in Bangkok to network…
It’s required by law that every Company, regardless it’s a Partnership, Thai Limited Company, BOI, Branch Office or Representative Office must have their account audited at the end of every financial year, that is Dec 31. Once your account is signed off by your auditor, it has to be uploaded into the gov’t system. So,…
Once you have incorporate your Thai Limited Company, it is a legal entity by itself and should your business cease to operate anymore, it is important that you close the company properly to avoid unexpected penalty and costs. What do you need to prepare and submit to close a Thai Limited Company? – Final Balance…
When company export certain goods, companies may claim a VAT Refund for certain purchases of the raw material used in the exported product however unless the amount of VAT Refund is significant and that your company has proper record keeping, we advise you to think twice before requesting for a VAT Refund. Request for VAT…
Considering to start your own business in Thailand, be it as a route to obtain Work Permit to stay in Thailand for a long time or purely for business reasons, starting a business in Thailand is not as hard as it seems. Thailand is rank 21 in the world for the ease of doing business….
The ongoing global coronavirus pandemic has impacted the way we work. It has affected all types of businesses, from start-ups, entrepreneurs and global brands. The economy is in turmoil and many businesses are forced to work from home. As the number of businesses continues to work from home, setting up a virtual office makes lots…
In this blog, we look at reasons a Serviced Office is better than Work from Home. It’s a bold statement, I know. The pandemic forced many businesses to work from home. Working remotely can be great. It means you don’t have to wake up early, you can work in your pajamas and for some, you…
2020 has been a turbulent year and has shaken countries, economies, businesses to its root. Multinationals went bankrupt so do businesses with over a century of history. Lives were taken before they are due. These are the top 5 most profitable businesses YOU can start right now without much capital and most of them would…
