Can I open a business in Thailand?

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You can open a business in Thailand but have to know a few

things that are important. To take over a business, surely in

the commercial areas such as Phuket Patong, Patpong Bangkok

or Walking Street Pattaya, most of the time you are asked to

pay “key money”. That is 1 reasonable large amount 1 time

that provides you the “key” to open the business door. But

once inside, you still have to pay rent, staff and all the

expenses of a normal business. Unfortunately this “key money” allow you only to use the business for a limited time period, mostly 2 or 3 years. And after that period is over, you will have to pay again “key money” and probably more that the first time you did. Example: You want to rent a bar in Soi Bangla, pay 3,000,000.00 THB key money and rent the place for 3 years at 60.000 Thai baht per month. After that 3 years, you have to pay again key money and the amount then will be determent by the business or building owner. Be aware if you make your financial business planning because it could happen that your key money is the money that suppose to be you profit and you have worked the whole time for nothing. This explanation is based on real stories. If you start your own business, you need to set up a Thai company and within that company, you can have a work permit for yourself. Roughly setting up the company, getting your visa and work permit will cost you about 70,000.00 THB. We advice you to visit a one stop shop that creates your Ltd, arrange the contracts, make your work permit and keeps your monthly accounting updated. Most of the law offices in Thailand provide all of these services under one roof.

The answer on the question if you can open a business in Thailand is for sure a large YES!!! Just keep local legal advisors close by the hand to follow laws and guide you throughout the whole set up and running your business.