Apstellar & NNP Group - Corporate Partnership in Registering Foreign Business in Thailand
Apstellar is pleased to announce a corporate alliance with NNP Group. NNP Group specializes in corporate legal consultancy for foreign business in Thailand.
NNP Group provides the following corporate legal services in Thailand:
License Application in Thailand
BOI Business for Foreign Businesses
FBL Foreign Business License
Direct Sales & Marketing License
2. Register Thai Company for Thai Shareholder & Foreigner
Thai Owned Company
Foreign Controlled Company
Thai Spouse Company
Non Profit Foundation
The strategic alliance between Apstellar & NNP Group will offers a holistic range of consultancy services for China and Singapore companies, looking to expand or setup foreign business into Thailand.
Apstellar offers the following consultancy services for Foreign Businesses keen to access the Thailand market:
Business Analysis & Market Research
Recruitment & Executive Search
Property Purchase in Thailand
Risks of starting a Foreign Business in Thailand
While Thailand is a country with big potential and a sizeable population, it is also important to take note of the potential risks involved. Some common potential risk for foreign business in Thailand can be:
1) Selecting the Wrong Type of Business Category in Thailand for Foreigners
Most companies or individuals would prefer a 100% ownership when they setup a company overseas. However, in Thailand, a 100% foreign business application generally costs higher, has trade restrictions and is difficult to obtain. In fact, the process to obtain a 100% foreign business license in Thailand is long and expensive without any guarantee of positive results.
We would typically recommend our clients to setup a Thai company or BOI application, depending our client background.
2) Potential Legal disputes with Thai Shareholder
It is common for foreign investors to setup business in Thailand whereby the foreign companies or individuals hold minority shares (up to 49%) while the remaining majority shares are held by their respective Thai shareholders (up to 51%).
Without proper consultancy support and legal documents in place, the foreign investors may not be able to assert full control of their Thailand entity, especially when the business starts to turn profitable.
Depending on the client's business model, Apstellar will offer consultancy support to mitigate business risks such as removing voting rights for shareholder, securing Thai investors or shareholder with the right credentials, managing authorized bank personal, establishing internet banking access and additional legal corporate documentations to limit shareholders/director rights.
3) Language and Culture Differences in Thailand
The national language in Thailand is Thai. Apart from Thai Language, there are also dialects such as the Lao-based Isan in the Northeast and Kham Muang in the North and the Southern Thai Language in Southern Thailand.
English is widely understood and is used by many in more corporate environments as the language of business in Bangkok. However, the level of English differs and work miscommunication happens often between foreign employers and Thai employees.
Thailand is a collectivist society and the needs of the group are placed over those of the individual. Thai people are polite, subtle and indirect in nature, and they tend to focused on feelings and emotions when they make decisions. They are also highly creative and skilled in specific key trades.
Apstellar provides executive recruitment search in Thailand to help foreign companies identify the right Thai talent. We also provide Business Process Outsourcing BPO such as finance, legal, business development, contract negotiation, marketing etc in Thailand. As most of our teams are either trilingual or bilingual, we can help to assure your business functionality and growth for your foreign office in Thailand.
Funding Support for Singapore Companies or SMEs for Overseas Expansion
For business expansion to Thailand, Singapore registered companies & SMEs are able to tap on the Market Readiness Grant for enhanced support schemes (up to 70%) to defray related consultancy costs. The MRA Grant support level of up to 70% will be extended until 31 Mar 2023.