Virtual Office in Thailand
Entrepreneurs who want to open a company in Thailand should know that they can set up a virtual office, through which they can have a business presence on this market. The virtual office, which offers businessmen a new way of doing businesses, has a set of financial advantages, which can reduce the costs of your business activities in Thailand. If you are interested in purchasing a virtual office package here, our Thai company formation specialists can provide you with assistance in this matter.
What is the virtual office for a company in Thailand?
A virtual office is a modern solution if you want to establish a corporate presence in a certain market.
A virtual office is a place where a company has access to all the modern communications means and where it receives various documents; if the company has employees, they can conduct their activity from any convenient location. As such, the virtual office represents a flexible and modern way of having a business presence in a foreign country; our experts in company registration in Thailand can offer you a customized virtual office package in Bangkok or in any other major city in this country.
Company formation in Thailand is possible via a virtual office as the address of the location will be the one for the company’s registered office. This means that the location where the virtual office is based (usually in a modern building) will also be used as the correspondence address for the business, from where the correspondence can be forwarded as needed.
This means of establishing and running a business may be more popular among investors who open a small business or among startup founders. A company that does not need a physical store or presence (or perhaps a warehouse for storage or a location where to base its equipment) can easily and conveniently function via a virtual office. This can be the solution for software companies or for services companies who have employees who can work remote. When needed, the team can request additional office space on location as well as have one or more permanent offices on location. However, they do not need to maintain or pay the rent for space they do not always use. This flexibility in terms of the working location can be very important for investors who are interested in Thailand company formation in particular business fields. Businessmen who need incorporation services in a European country, for example company incorporation services in Switzerland, can receive help from our local partners.
Compared to a traditional office, the costs for a virtual office package will be lower. Business owners will not need to purchase a property or rent it and then equip the office with the minimum required supplies and furniture. Virtual office spaces are fully equipped and located in office buildings. This means that the utilities and the general upkeep of the office are not under the command of the company owners. They will simply use the office space as agreed for their purchased package whereas, in a traditional office, the maintenance and the repair works would imply additional costs as well as proper management.
What are the advantages of a virtual office in Thailand?
Foreign businessmen who want to expand their business activities in Thailand, but who do not need a physical location to conduct their operations here may opt for a virtual office, which can represent an attractive way for establishing a business presence on the Thai market.
A virtual office is a very cost-effective solution for those investors who want to open a company in Thailand, as there are no conventional lease expenses; also, there are no maintenance costs and the employment expenses are lower, as most of the employees are having a legal status of individual contractors, rather than full-time employees.
Depending on the services you want to receive when opting for a virtual office, our company registration specialists in Thailand can assist you in obtaining the following services, summarized in the list below:
a prestigious business address: this is mandatory if you want to open a company in Thailand. Our virtual offices are located at addresses in various locations across Bangkok for example, which will also offer the prestige of a respectable and modern location.
local telephone number: useful for those businesses that engage in local activities, the local telephone number is a sure way of communicating with Thai clients and business partners.
a receptionist: one of our professionals will be able to provide secretarial services, which include but at not limited to mail collecting and forwarding, fax services and answering calls.
a conference room and the needed office space: this is an additional service for those businesses that need conference space on occasion or extra office space for employees.
An optional service can consist of bank statement collection and forwarding. All of the mail, telephone and fax forwarding services will be handled as per your instructions and at the addresses provided by you. You have the option to request extra conference and office room space on demand, as needed on certain occasions.
Virtual office packages can be adapted as per the needs of the company, in most cases. Providers will offer a general package, like the one described above, to which company owners may add additional services as needed for their business or on occasion.
The company will benefit from having a prestigious business address that will be included in its contact information. When needed, the business owners will be able to schedule meetings with clients or business partners at the virtual office location, provided that they arrange for extra meeting room space, as needed for their meeting.
Usual facilities, such as internet access as well as access to office consumables or electronics (printers, scanners, etc.) are available on location. The fact that the location has a dedicated receptionist to answer and forward the calls will add to the credibility of the business.
Investors who open a company in Thailand and work via a virtual office are able to choose between several locations, as many companies that offer this service have more than one office building to accommodate their clients. Billing will, in most cases, be monthly. This means that investors can choose to test this service and see if it complies with the needs of their business. Those who know that they will run their business in this manner can opt for different packages with a yearly billing plan that may also include savings.
What are the conditions for investing in Thailand?
Foreign investors in Thailand are required to comply with the local incorporation, taxation, accounting, and management requirements. The business forms preferred by many entrepreneurs are the limited company and the public limited company. The latter is most suited to large businesses and it is subject to more complex accounting and reporting requirements.
The Foreign Business Act is the primary law that concerns foreign investment and provides for certain restrictions in selected business fields, such as transport. The reasons for the restrictions have to do with cultural heritage as well as a perceived competitive disadvantage. Our team of Thai company formation specialists can provide complete details about the restrictions that may apply in some fields as well as foreign company ownership.
Foreign investments (FDI) in Thailand increased, the country being one in the ASEAN region which recorded an important increase in the inflow of foreign investments. The statistics below show the main evolution of FDI:
- increase by 692.7 million USD in March 2019;
- in 2018, the approximate FDI amount was 13.25 billion USD;
- in 2017 the FDI amount (approximated) was 8.04 billion USD.
A virtual office can be a convenient manner of doing business for investors interested in opening a Thai company. If you need further information about the virtual office in Thailand, please contact our local company formation specialists, who can offer their assistance on this matter. In case you need a virtual office in Lithuania, we can put you in contact with our partners who can help you in this matter. For legal services in Lithuania, we can put you in contact with our partners.