Thai company registration and its pitfalls

  songsamorn yannasitti    May 14, 2013    1251

 

Whenever a company owner or prospective company owner is looking to expand in to the Asian market they always target the likes of Singapore or Hong Kong due to the attractiveness of the markets and forecast and such.  However Thailand is now becoming a melting pot for new business opportunities and ventures and this does mean that there is a sudden increase in the amount of Thai company registration applications who are looking to get a piece of the action so to speak.  There are however many common pitfalls or mistakes that happen when the Thai company registration process is taking place.  These focus mainly on financial aspects as owning a company is not a cheap venture and many people think that they can somehow brush aside the financials and that it will not matter when, in truth, it is probably the most important factor when it comes to the Thai company registration process and it is the biggest stumbling block also in terms of which applications are successful and those that are not.

The financial element has long been under scrutiny with many thinking the regulations and requirements are unfair and others thinking that they are too lenient.  The Thai officials who deal with Thai company registration are able to change the requirements at any given time but this has not happened recently due to the need to more foreign businesses to create more jobs in the region for Thai staff and add benefit and knowledge to Thailand as a whole.  Commerce is big business, especially trade between two countries who can share knowledge and experience to create something new.  An example of a successful venture between Thai and foreign businesses would be the building of the BTS Skytrain and MRT transportation services. 

If you can prove that your business and products can be beneficial to Thailand and its people then it means that the Thai company registration process will be a lot easier.  However the financial aspect is still there and needs to be dealt with.  The financial rules are there to prove that the company that will be registered has the means to survive, pay its staff and equipment and such and having the money beforehand is a definite sign that the person submitting the application process is serious about making it happen and so is therefore more likely to make sure that all the rules and requirements are met.

Therefore the Thai company registration process, with all its rules and regulations is most likely purposely designed that way to ensure that the applications they receive are genuine and the businesses and their ideas and background are worth investigating also as they will most likely bring business to Thailand and the region which is the reason why the Thailand company registration process exists to start with, to promote growth and relations between Thailand and other countries whilst at the same time providing goods, services and jobs that can benefit the people of Thailand and this makes perfect business sense.


 Article keywords:
company registration thailand, thailand company registration, company registration in thailand

 


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