A Guide to Business in Bangkok
(Asia Serviced Offices)
Bangkok is both the national and financial capital of Thailand while also being the most populous city in the country. It’s home to a wide variety of high profile and multinational companies, several of which feature on the Forbes 2000 list.
Additionally, Bangkok has been considered a hub for start-ups as of late, with up and coming businesses from Thailand and around the world looking to set up their HQ within the city.
Read on to discover the top five reasons Bangkok is gaining popularity as a bustling center for business.
Location
Being home to the country’s largest companies and financial institutions, Bangkok is an excellent central location for anyone looking to network with the biggest names in the business.
But there’s more to the place than the obvious business connotations. Bangkok is still a hot spot for tourism, leading to a diverse range of consumers.
The city is also close to thriving seaports that can provide a clear benefit to manufacturers, importers and exporters.
Legalities
For international entrepreneurs looking to settle and start a business in Bangkok, there was once a time when this was not possible for foreigners. Yet things are changing and foreign investors now have two options for investing in Thai property.
They may take advantage of a 30-year leasehold or purchase the property through a limited company. There are many companies in Thailand which can help foreigners with the legal side of investment.
To encourage entrepreneurship as the tech industry grows, the Thailand Board of Investment has also begun creating allowances for investors, giving foreign nationals the opportunity to purchase 100% of a company that was started in Bangkok.
Tax Incentives
In an attempt to encourage companies to launch their ventures in Bangkok, Thailand offers tax incentives that favor entrepreneurs.
The country has low corporate tax rates on income, ranging from 10% – 30% depending on various criteria.
Additionally, businesses will be exempt from corporate income tax for the first eight years, which is enough time for start-ups to become fully fledged, high-earning businesses.
An Abundance of Investors
In recent years especially, there are plenty of firms in Bangkok that offer venture capital or angel investors to help the city’s businesses develop and expand.
Without these investors, many start-ups would fail to get their feet off the ground, so heading to a place where the possibility of investment is ever rising is a plus to most entrepreneurs.
Local Resources and Worker Availability
Bangkok is a place to universities, internships and resources that have given residents a variety of expertise across a range of industries. These up and comers are constantly on the lookout for great opportunities.
Additionally, the cost of living in Bangkok is fairly low – around 51% lower than that of the United States, which has obvious financial advantages.
Have you ever considered setting up your own business in the heart of Bangkok? Or perhaps you’ve already begun a home-based business that you’d like to expand over the coming months or years.
We can provide commercial space in and around Bangkok that will be perfectly suited to your up and coming business, taking the stress out of the move. Feel free to get in touch today for more information!
