How Much Does It Cost To Set Up A Company In Thailand?
You might have seen the peaks and opportunities in the Thai business industry. Most of the entrepreneurs all over the world are interested in setting up a company in Thailand. The major attraction is the easy procedures and simplified rules and regulations to execute this task.
If you have an entrepreneurial mindset, it is easier to set up a business in the area while ensuring profits for the long run. However, you may need to study the cultural differences and market requirements before setting up a company in Thailand. This analysis will help you to capture audience attention with ease.
Some of you might be interested to know how much it costs to start a business in Thailand. Well, there is no standard figure, but we can provide some estimates on expenses from start to finish. Before we discuss the figures, it is important to know that the cost of starting a business in Bangkok is much higher as compared to the other cities in the country. It is just because this is the prime location and hub of wealth for the business sector.
The biggest benefit of running a company in Thailand is that here you can avail manual labor and other resources at a very reasonable price. The water, electricity, inventory, and staff salaries; everything falls within the low budget range. It is possible to get skilled workers for department stores, shops, and restaurants in Bangkok within the salary range of 8000 to 10000 THB.
Below we have listed estimated expanses of setting up a coffee shop at Bangkok:
- Electricity and water: It cost somewhere around 8000THB per month. Note that water usages are really cheap in Bangkok, and the air conditioning services are easier to manage.
- Expenses: The inventory and supplies are 15000THB/month; it includes coffee beans, milk, sugar, cups, and ice as well. The quantity may change as your business grows, and so does the expenses.
- Rent: Expected rent for a 15 sqm coffee shop at Bangkok is 13,000THB per month.
- Staff Salary: If you want to hire full-time staff, you may need to pay them 9000THB per month whereas, for the part-time workers, it is enough to pay 4500THB per month.
These figures keep on varying depending upon the type of business. Experts also reveal to save some money for emergency expenses.
Business professionals can set up various types of corporations in the country. Note that foreigners cannot own complete 100% shares of a company in Thailand. It means you need to find a local partner for your business. Make sure you start a business with someone whom you can trust for the long term. You may need to find space on rent and complete the essential documentation with the landlord. It takes a few days to complete all the requirements, and then you can bring your business into operation. Prefer to choose the most valuable niche for your business. It must be capable enough to capture audience attention in the Thai market.
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