Starting a business in Thailand - advice needed

[Guest Jason D]

Hi there

I am an Australian with a business background interested in starting up a business in Thailand (possibly in the rapidly growing Cannabis industry) and am keen to connect with expats who have moved to Thailand and set up businesses.

I have done some initial research into the Thai business structure options available and it seems that a Thai majority model may be the simplest and best approach. This requires a Thai business partner who owns 51% of the share capital meaning technically that I would be a minority shareholder in my company which could be a problem depending upon the ethics and trustworthiness of the Thai business partner. A similar option exists for starting a business or buying property in Indonesia and there are plenty of horror stories of expats being ripped off in that country.

To set up a Thai majority company requires start-up capital of 2 million Bhat (about $87,000 in aussie dollars). This is reduced to 1 million Bhat if you are married to a Thai national. This could be an attractive option as I am single and definitely attracted to Thai ladies (heh heh). Although, being married to your business partner brings a whole level of risks and complications.

To enter the country with the intent of starting a business requires a non-immigrant B (Business) Visa with 3 month or 12 month options, so I gather you would need to keep reapplying for this Visa which is annoying but not too expensive (2,000 Bhat for 3 months or 5,000 Bhat for 12 months).

One thing that concerns me is the paperwork involved - I hear that the paperwork required by Thai authorities in setting up and running a business is pretty onerous and it is literally mainly paper-based and all in Thai (I have very limited Thai language ability).

Seems like a daunting prospect for an expat to start a business in Thai but many are doing it and there are some great business opportunities in Thailand - especially now that Cannabis has been decriminalised.

Anyway, would love to hear experiences from Expats on this forum. Let me know your thoughts.

[white5573 0]

Starting a business in Thailand, especially in the growing cannabis industry, can be both exciting and challenging. Your research on Thai business structures is a good starting point. Indeed, having a Thai majority partner can simplify the process, but it's crucial to choose your partner wisely.
Considering the potential risks, it's essential to establish a strong partnership based on trust and clear agreements. Legal advice from professionals who specialize in Thai business laws can also be invaluable.
When it comes to managing your startup in Thailand, utilizing startup management software can help streamline operations and ensure efficient project management. These tools can be especially beneficial in a foreign business environment, helping you stay organized and adaptable.