Living in Thailand as a foreigner is not an issue as you do not necessarily have to be married to a citizen or be employed at a Thai company to do so. Instead, you can opt for starting your business in the country by taking the right measures. This might not necessarily be easy, but it will set you up for the long run.
Getting A Lawyer On Board
Essentially, the rules relating to international law are pretty strict in Thailand. You want to make sure that you have legal personnel on board to help you throughout the process. If you wish to ensure an effective process, you should get in touch with a renowned lawyer working in Thailand for similar cases. This will enable you to get the right assistance to get you through the entire process and enable you to make the right decisions.
Gathering All The Documents
The Thai Bureau of Immigration requires you to have substantial documents on hand to begin the process. These documents would include your bank statements, financial statements, and every other piece of evidence relevant to verify that the business offering the visa extension has a credible business running.
Ensuring that you have enough documents beforehand is essential so that there are fewer chances of error. Your lawyer will be able to help you better with understanding the right documents you require for this.
Process of Setting Up A Business In Thailand As A Foreigner
The process of a foreigner working in Thailand starts with the foreigner obtaining a visa for 90 days. This is known as the Thailand business visa that is essential for the process to move forward. The foreigner entering the country must use this visa as the basis for their extension. Most of the time, a Thai company sponsors the foreigner for the visa. Because of this, the company sponsoring is investigated to a certain extent.
During the time period of 90 days, the foreigner is required to gather enough evidence from their company to give to the Bureau. This is an essential step if the foreigner wishes to extend their stay in Thailand Therefore, documents, such as tax filings, balance sheets, social security payments, and much more are checked by the authorities.
The process of setting up a business in Thailand is quite stringent. For this reason, it is important for foreigners working in Thailand to ensure that the plan accordingly. Take help from strategists to make sure that your plan to start a business in Thailand is foolproof. Otherwise, things can get quite stressful.
The process is mostly for foreigners who wish to work in a company in Thailand or start their own company in Thailand. These rules and regulations do not pertain to those who want to set up a branch office of an international company in the country. There are fewer obligations to fulfill under this circumstance. It is also simpler to avail of an extension on the visa, given a foreign business license is obtained by the company before establishment.