Business and Law

Archive for November, 2009

Many foreigners nowadays wish to start up or expand their business in Thailand. Starting a business in a foreign country can be both a rewarding opportunity and a daunting task. Thailand is known as the Land of Smiles and the government extends this hospitality into the business registration process. There are One Stop Service Centers which provide business start ups with a one location to obtain all the necessary information to incorporating a new business in Thailand.

The Thai government has made great improvement over the last few years to speed up the business registration process in Thailand. Now a Thai Company can be registered in one business day after receiving a confirmation of the name reservation of the Thai limited company.

New businesses both big and small can set up in Thailand with ease. For a small new Thai business you can easily register your new Thai limited company with a minimum capitalization of 2 million baht. The Thai government requires that at least 25 percent of the starting capitalization be paid up on the date of the meeting for company registration. This start up capital can be used immediately for office rental, buying computers, purchasing inventory and other business expenses. As for big businesses, Thai government has their Board of Investment (BOI) program for offering special sectors many benefits for choosing Thailand as their start up location. This can include small software developers with just a few people to large manufacturing operation. The incentives include tax holidays, reduce tax duties on imported machines, fast processing of work permits and visas for foreign staff, and as well as tax free zones for importing raw materials which will be used and exported as a finished product (for some designated sectors).

Security is an important part of any business. You want to protect your assets as well as keep your employees safe, so you get an alarm system and some good locks. But what else can you do? You can heighten your security with a little cooperation from your employees and some planning on your part.

Restaurants, especially popular ones, take in thousands in receipts every day. This is a great draw for criminals and a great danger for the business and the people who work there. In order to protect yourself you will have to take a few precautions aside from having a security system.

When you start your restaurant business keep in mind that the less the money travels, the fewer chances you’re taking with safety.

The first deterrent is a safe place to keep excess cash until you can make a deposit to your business account. Many businesses have drop safes for this purpose. A drop safe can be freestanding under the counter, set into the floor or can even be located in another room altogether. The employee, once they reach a predetermined cash total, unobtrusively puts the money in an envelope and drops it into the safe through the drawer. In turn, the safe is emptied periodically and the receipts taken to the bank or picked up by a courier service.