Doing Business in Thailand
Thailand’s booming economy has encouraged me to begin a new business relationship with a highly recognized Thai company. I manufacturer a line of products for the sugar processing industry. I recently signed a one-year contract with Thai Chemiclas and Engineering Co. Ltd., located in Bangkok, to be my exclusive representative in the Thailand area. Thai Chemicals and Engineering will promote my product line and get it into the all the sugar mills in the area. They will purchase two containers per month for which we have negotiated a compatible price. The containers will be shipping out of Savannah, Georgia with a final destination of the port of Bangkok. The shipping terms will be CIF: Bangkok. I decided to use a local company to represent my product line for various reasons. First of all, I need someone that knows the culture and business environment who has an established relationship with other locals. Once my products become known, I would like to establish a factory in Thailand. Therefore, I found it necessary to gather all the information required to begin a new business in Thailand.
Establishing Business or a Factory
Although business can be 100 % owned by foreign investors, some are reserved for 51 % Thai ownership. People of any nationalities can participate in ownership to varying degrees: through sole ownership, a limited company /corporation, an ordinary partnership, a limited partnership, or a branch of a foreign corporation. The Ministry of Commerce's Department of Commercial Registration is directly in charge of company registration.
The Stock Exchange of Thailand
The Stock Exchange of Thailand (SET) is a well-developed financial institution which welcomes foreign investment.
Tax
Corporate income tax rate is 30%
Transport
Bangkok's modern Don Muang International Airport can easily serve your arrivals or connections. Thailand is equipped with an extensive and ever-developing transport infrastructure and an extensive state-run rail system. There are numerous shipping ports including Bangkok's Klong Toey Port and the Eastern Seaboard's Mab Ta Phut and Laem Chabang deep-sea ports within 200 kilometres of Bangkok.
Working Hours
Typical business hours are : for banks and financial institutions, Monday - Friday 9:30 a.m. - 3:30 p.m.; Government offices, Monday -Friday 8:30 a.m. - 4:30 p.m. (closed noon - 1 p.m.); private business, Monday - Friday from 8:30 p.
The organization is able to build a barrier to new entrants in parcel industry. It is very expensive to set up the services that are equal to the existing organizations. There is high fixed cost associated with establishing the required international transport network. This includes ground transportation vehicles, depots, plants and a retail
hours, such as nights, major holidays. Careful inquiry should be made at the outset of a
Next, there are working hours to consider. The OCO tells that most welders work full-time. Many manufacturing firms have 2 or 3, 8 to 12 hour shifts each day to continue production around the clock if needed. As a result, welders may work evenings and weekends (The OCO). In addition, the working environment includes different variables.
Office hours for both Monday and Tuesday are 10:00AM until 10:00PM. Although these days are not as demanding as the later days of the week the urgent care center must have physicians available to see patients. Having more of the budget available for staff and physicians working those days seems to be the best possibility for meeting the
The research conducted within this document will look at the various areas considered by someone before venturing in to another country for a business, regardless how well he or she know the specific business. As the information is gathered as well as imported in to tables for visual comparison, one can see that there are many similarities and the possibility of success via such a business seems possible.
South America is the fourth largest continent in the world with twelve countries and three dependent territories. Countries including Venezuela, Brazil, Argentina, Peru, Chile, Colombia, Ecuador, Bolivia, Uruguay, Paraguay, Guyana, and Suriname. Dependent territories include Falkland Islands, French Guiana, and South Georgia and the South Sandwich Islands1. South America is tropical wet and dry regions which allows them to grow several types of fruits and vegetables. The two main cash crops grown in South America are cacao and coffee. Minerals such as gold, silver, tin, iron., ore, and petroleum are vastly found in South America. In this paper will talk about the current events of South America and how these events impact their
...onal trade and investment agreements Thailand is more open than before but the production of dairy products, automobile engines and motorcycle assembly are still subject to local manufacturing content, Thailand restrictions.
In line with the continuous improvement initiative to uplift the service delivery system to the public, flexible working hour’s schedule which is also known as Staggered Working Hours (SWH) has been implemented in the Federal Territory of...
Products are not standardized and vary by country in terms of type, packaging and specification. This increases production time, production costs, lead tim...
Expansion across seas can be very advantageous and lucrative for many companies; however, there are many risks associated with doing business overseas, and companies that intend to expand internationally should be careful and strategic when doing so. Not only do companies run the risk of experiencing a product fail due to differences in cultures, they also face severe political and economic risks as well.
A registered company, as an artificial person is separate from its members and exists only by virtue of the Companies Act under which it is incorporated. When a business is incorporated, it becomes a separate legal entity and, therefore, can be sued and sue without affecting the shareholders personal assets. This was established in “Salomon v A Salomon Co.Ltd”. Separate legal personality is known as the veil of Incorporation. This protects the shareholder and places the responsibility of the company onto the directors. These duties are outlined in the Companies act 2014.
It is highly recommended that company officials visit the countries to examine the markets where they are considering selling their products before any transaction occurs
Our world is becoming increasingly connected and global and the role of international business is increasing. Each country has its own set of unique customs and traditions. Each citizen's beliefs define the cultures by which each citizen abides by in normal everyday life, thus serving as the very foundation of the country. For example, in Saudi Arabia a citizen convicted of stealing will have his hand cutoff. In the United States, a citizen convicted of stealing would possibly receive only short term probation. The American Heritage Dictionary defines culture as, "The totality of socially transmitted behavior patterns, arts, beliefs, institutions, and all other products of human work and thought characteristic of a community or population." Seemingly minuet gestures or situations which carry different meanings in particular cultures can make or break business deals. Global managers from the United States or from any other nation have to be aware of the various cultural differences. Injecting certain specific skills, such as diversity training for expatriate managers, will bridge the gap between cultural differences such as language, religion, and values.
The global economy has enabled customers to enjoy a buyer’s market where the company with the most competitive price possible for a product or service receives orders from customers around the world. The burgeoning world ...
The topic that I will be discussing is Thai culture. In this, it will include areas that influence this culture. First, I will give you the geographical information of the country of Thailand. The second area that I will look at will be language. Language is an extremely important part of culture and some say that one cannot be found without the other. After that I will inform you about customs, traditions and taboos in Thai culture. This is a very important part of culture and is what shows the differences between cultures. Then I briefly tell you about the government and some national symbols, such as the flag, the symbol, colors, anthem, dress, and national day. Next, I will explain about religion in Thailand. In most cultures there is religion, but in Thailand it is interwoven into its whole culture and it is hard to separate the two. One other thing that I will include in this paper is a link to a page with pictures from my trip to Thailand.