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How to expand your Thai business to other Asian countries
Monday 10 December 2018, 10:23AM
Asia is one of the most important markets in the world and expanding a business here is without a doubt a great idea, no matter where you come from. Thailand is a very appealing country not for tourists only, but also for those who decide to open companies here. Most of the times, these companies reach maturity and generate good profits which allow them to expand their operations in other countries. When deciding to expand a Thai business, the best way to start is by reaching neighboring markets and Asian countries represent some of the best solutions in this case. China, Singapore, Hong Kong, Taiwan and Vietnam are countries which have similar laws to those in Thailand and they can represent a great way of expanding a Thai company. Expanding a Thai business through a subsidiary One of the best ways of expanding an existing business is by opening a subsidiary. This type of entity can be registered as a limited liability company, which is one of the most advantageous business forms in a country like Singapore. Those who wonder how to set up a company in Singapore, even when it means expanding a Thai business, incorporating a subsidiary is quite simple and takes a few days only. No matter the country chosen, a subsidiary will grant a high level of independence to the company established abroad, but also a series of incentives given that Thailand has good economic relations with its neighbors. The branch office – another option for expanding a Thai company in an Asian state The branch office is the second option when deciding to expand the operations of a Thai company. Compared to the subsidiary, the branch office offers a better control of the parent company. The costs of setting up a branch office can also be lower, depending on the country chosen for expansion. The process of opening a company in Hong Kong under the form of a branch office is a good example in this sense. Branch offices are often met in Asian countries, as companies all over the over the world choose this business form to expand in this corner of the world. Thailand is a great country to start a business in because the government offers a lot of support to both local and foreign entrepreneurs. When it comes to expanding these companies, there are various solutions which can be employed depending on the industry the business operates in, the market it addresses and the services it offers.