Financing a Business in Thailand
Recent forum posts
hime ( cypriot) and my husband ( my husband being from Chile) would like to start a business in NIcosia Cyprus. we have some ideas about what kind of business but this has not been decided and we are in the process. As we don't know much about setting up business in Cyprus we would like some help on how to start and what kind of businesses might give us lots of profit.how long does it take
Total Posts: 6 Last post by Elijahchurch
Could you please, provide the following information regarding the company registration in Austria:- Registration prices- Apostilled set of documents- Annual services (reporting and audit)- Dimension of nominal capital- What taxes must the client pay?- What kind of docs do the client need to provide (notarized docs + translation)- Does the client need to visit the country?
Total Posts: 15 Last post by Elijahchurch
Financing A Business
The Thai government offers financial incentives in the form of tax breaks and tariff reliefs for UK businesses looking to expand and invest in the Thai economy.
The tax incentives are inclusive of most industry sectors but usually only apply to businesses looking to invest outside Bangkok in specific development zones. These include:
- No corporate income tax for up to 8 years
- Import duty reductions or exemptions on machinery and raw materials
- 50% reductions of corporate income tax for 5 years
- No public utility costs.
- Deductions for infrastructure construction or the installation of infrastructure.
- No restrictions on foreign currency remittances
Further information can be obtained at www.boi.go.th
Banking in Thailand is made almost exclusively of large national banks. Since the Asian economic crisis in 1997 the sector has improved its regulation. As with all commercial loans, a strong business plan and an understanding of the local business conventions and etiquette are important if pursuing this form of finance. It is also recommend that you seek the advice of an account and an agent with a strong knowledge of the local finance environment.
The British Chamber of Commerce Thailand and The British Embassy in Bangkok are currently working together on a program to assist UK businesses expanding to Thailand, helping them to successfully gain entry to the marketplace through contacts and advice and would also be a good starting point.