Expanding into Thailand means looking closely at how the local business landscape works and what steps actually move things forward. Without the right market entry approach, even a promising idea can lose momentum fast.
So before pushing through your plans, here are key areas you’ll want to explore and sort out early.
Engage a Local Market Entry Advisory Firm
Trying to sort out business expansion in Thailand on your own? Not the easiest route. Rules can feel all over the place, and every agency wants different paperwork. That’s where a local advisory firm really pulls its weight. They’ll deal with the messy stuff, e.g., setting up your company, handling permits, keeping you on the right side of Thai law. No need to explain everything twice or guess what step comes next. You get to move forward without tripping over things that could’ve been avoided with proper help from the start.
Assess the Most Suitable Business Structure
Before anything else, you’ve got to pin down how your business will legally operate in Thailand. The law recognises several types of business organisations in Thailand, and each one plays by its own rules.
- A private limited company offers full control but comes with more responsibilities.
- A branch office ties you to your parent company.
- A representative office doesn’t let you earn revenue but lets you do research or support.
The point is, one option might sound easier but won’t fit what you actually need. Make the choice that matches how you really plan to run things.
Check Eligibility for BOI Promotion
If your business deals with innovation, tech, or anything the Thai government’s trying to boost, it might tick the right boxes for BOI support. This could simplify your market entry a lot more than you’d expect.
BOI perks aren’t small, as they can open the door to tax breaks, full foreign ownership, and fewer visa and work permit headaches. But they don’t hand these out lightly. You’ll want a clear pitch, clean paperwork, and some patience. People often wonder, “How do I know if my business qualifies?” That’s where early review makes a big difference.
Secure All Required Licences and Registrations
Even with a company set up, you can’t always start trading right away. Thailand requires specific licences depending on your industry, and skipping this step can stall everything fast. Think Foreign Business Licence, import permits, food safety checks, all of which really depends on what you’re doing.
If you’re in something regulated, it’s not something you can leave till later. And if you try to push ahead without them? You risk fines, shutdowns, and losing credibility with local partners. Better to know early than fix mistakes midstream.
Set Up Financial and Tax Compliance Early
This bit trips people up more than they expect. Once you’re in business, Thai law expects monthly filings, tax ID registration, and proper accounting right away even if you’re barely operating yet. That includes opening a local bank account and keeping records in a format the Revenue Department accepts.
One common question: Do I need a Thai accountant? Usually, yes. Especially if you’re not familiar with local reporting. Trying to sort it out at the last minute, or using the wrong method, almost always leads to costly corrections later.
Plan for Workforce and Employment Requirements
Hiring staff in Thailand isn’t as quick as posting a job and signing a contract. There’s visa paperwork, payroll rules, and labour laws to think about, especially if you’re hiring foreigners. If your entity isn’t ready yet, a PEO can legally employ people for you so you can get started. That’s useful if you want to test operations or get local boots on the ground early. Payroll has to be spot-on too, with contributions and deductions set properly. This isn’t something you want to fix after payday.
Establish a Reliable Corporate Governance Process
After setup, things can still go sideways if no one’s keeping track of what’s being signed, filed, or decided. Fortunately, governance can cover matters like board meetings, shareholder records, director responsibilities, and many others. It might sound dry, but it’s what keeps your business structured and protected.
If you’re bringing in investors or planning long-term growth, a weak governance setup can spook people fast. Local support helps handle routine filings and record-keeping so you’re not caught off guard by what’s due or what’s been overlooked.
Prepare Legal Safeguards and Local Contracts
Doing business in Thailand means working with local partners, staff, and suppliers, which also means that there will be paperwork. Contracts should be clearly written and, when needed, in Thai. The law expects it, and judges will favour the Thai version in disputes. So don’t rely on templates or verbal agreements. Want to know how disputes usually get resolved in Thailand? It depends on what’s in the contract, i.e., if there’s nothing about dispute handling or arbitration, you might not like the outcome. That’s why having a lawyer review your key documents isn’t overkill. It’s basic protection.
Get in touch with Acclime to take the guesswork out of your market entry into Thailand.
