Tips on having a business in Thailand Partnerships

By: panit p

Many foreign companies in Thailand who wish to conduct business aim to get their company BOI status. This is different from doing business as just a foreign national and affords many privileges that otherwise would not be attainable. Thai law also permits the operation of associations and foundations but both these types of juristic person have limited usage in terms of what the business can and cannot do and so they are only mainly used for philanthropic companies. Furthermore any foreign natural wanting to work in Thailand also requires that they have a work permit as a statement of their legality and qualifications for the job that they have been employed for.

A work permit is seen as something as a holy grail by many as it not only proves that the employee is qualified for what they have been employed for but that the company is also not cutting any corners in terms of their legal status as a bona fide company operating in Thailand under all the laws and regulations that come with it. There are many businesses in Thailand that are more than willing to hire foreigners without a work permit but this puts both the company and employee at risk. Why they do this is usually is because they need the work and the employee is in need of work also so they both cancel out each other.

Many businesses in Thailand, especially in large sectors such as education, simply do not have the time to check the credentials of every foreign national who wishes to teach English in Thailand which is why many unqualified teachers are sometimes hired in error but this is something the Thai government is always trying to crack down on as they are fully aware of it. Partnerships are vital in terms of doing business in Thailand not only for the survival of the company but also for creating it also. I know many businesses in Thailand that are both Thai owned and foreign owned that would not exist if it were not for partnerships.

After all the greatest companies are usually formed through a partnership of some kind such as HP, Apple or Microsoft and they go on to endure and thrive and often change the world. But being in a partnership can be risky if the person you are in partnership with is not as business savvy as you are and does not know the rules and regulations that apply to having a business in Thailand or in any other country. There are plenty of great reasons to have a business in Thailand but make sure you follow all the rules and have a successful partnership as the foundation of the business as that is usually a great sign of prosperity for the business in years to come. After all, in life it takes two to tango and a successful partnership in terms of having a business in Thailand can help you navigate the path and pitfalls that can be strewn along the road as part of the process of having a business in Thailand.

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