The answer is yes, you can own 100% of a company in Thailand, even as a foreigner, if setup correctly. While NextStep does not provide any legal advice, we work with a number of trusted legal firms which can help you with the purchase of a Thai company.

Yes – when you buy a company usually you will be allowed to employ foreigners, including yourself, which comes with a visa and the right to live in Thailand. There are criteria you need to fulfill however, namely a minimum capital of 2m THB (paid-up), and a quote of one work permit per 4 Thai employees.

Thailand is ranking in the upper-midfield of Ease of Doing business ranking at number 21 globally, ahead of China, Indonesia and Vietnam. While many transactions with government agencies are still very paper-based, business-related processes like making payments are increasingly digitalized. Due to the high exposure to foreign tourists, many Thais speak English and it is absolutely possible as a foreign business owner to manage a business in Thailand.

In general, it is very easy and relatively fast – usually the incorporation is done in less than 10 working days once you have all required documents ready. It is easier and faster if you are already in the country and have local partners or people that can help you, however it is not mandatory. Key to a smooth process is finding the right legal firm that will do the paperwork and process the incorporation with the government agencies.

The Tourism and Hospitality industry contributes significantly to the Thai economy and offers many investment opportunities. Hotels and restaurants are interesting investments for foreigners and Thais alike, especially when combined with real estate, however there are also great opportunities in the wider service industry which is less asset-heavy.
Thailand is also well known for its manufacturing business, and in areas like the eastern seaboard and the wider Bangkok area you will find a number of manufacturing plants, providing all kinds of products for the domestic and international market.

Thailand is also keen to attract investors in high-tech industries like IT, and supports investors with tax cuts, higher visa allotments and other preferred terms for your investment.

The average salary in the Bangkok area in Jan 2020 was around 20’000 THB per month according to the National Statistics Office. The wages vary highly depending on the region in Thailand and the qualification.

Yes – Thais that have studied at local universities have in general a good level of education in their field. There is also an increasing tech scene in Bangkok which has attracted some larger firms to select Thailand as their hub for IT development. Furthermore, there is a growing number of Thais which have studied and worked abroad and are keen to come back and work in Thailand in leadership positions.

In general, we market the entire business for a new owner to take control. There are however regularly projects which would be large enough for multiple investors. If you are interested to get updated about such opportunities, please contact us.

This very much depends on the company. A simple business with not too many assets can be sold within a matter of weeks once all conditions have been agreed. With a larger company, it is prudent to perform a proper due diligence to establish the value of its assets, but also legal, financial and HR questions should be given enough attention. This might drag out the timeline but has proven time and time again as the right thing to do to avoid disappointment.