THAI COMPANY FORMATION: Special Economic Zones in Thailand
Last update time：2019-10-21 02:59:21
Updated on Thursday 06th April 2017
Thailand is a major investment hub for worldwide businessmen, which is why the special economic zones were necessary. The country makes no exception and operates different free trade zones to help companies in Thailand to benefit from numerous tax exemptions for products before entering the market or leaving to other important markets. If you want to open a company in Thailand, it is good to know that you can receive suitable and complete details about the special economic zones from our company formation agents in Thailand.
The benefits of registering a company in the free zones of Thailand
A free zone or a special economic zone in Thailand can offer lots of benefits for important trade companies that perform activities on the market. The main advantages are related to the financial matters for imported products from other states, with commercial purposes in Thailand. For instance, machinery or other equipment are exempt from duty fees or other taxes. The investments made under the BOI (Board of Investments) provisions in Thailand can be exempt from 3 years of corporate tax and then an established tax rate of 10% for the next 8 years will be stipulated.
The activities of a company under the BOI promotion status in Thailand can enjoy the special economic zones which include important sectors like agriculture, light industry, electronic goods, metal and chemical products. The company registration in Thailand can be an easy process if you solicit help and guidance from our representatives in company formation in Thailand. Besides that, you can ask for suitable guidelines if you want to obtain the licenses for your enterprise.
The cities with free zone status in Thailand
Chiang Rai, Sa Kaew, Mukdahan, Nong Khai, Nakhon Phanom, Narathiwat, Tak, Trat, Songkhla, and Kanchanaburi are cities with special economic zones status, considered border towns. If you want to register your company in the free trade zones in Thailand you must consider the important conditions in this matter, such as:
• make proof of the activities of your company, such as import and export;
• secure a lease convention for space manufacturing;
• provide the minimum share capital of $ 62,000.
After drafting the company’s documents of incorporation, the authorities in charge will grant you the status of an enterprise which legally carries out businesses in the special economic zones in Thailand. Numerous investors choose the special economic zones in Thailand for fruitful activities where benefits are quite attractive. We have gathered a few information about each special zone, in order to ease your decision when opening a company in Thailand.
1. Nong Khai Special Economic Zone
With 13 important areas, Nong Khai is preferred for investments and developments in agriculture and textile manufacturing. Situated in the north-eastern Thailand, at the border with Laos and separated by Thai-Laos Friendship Bridge, Nong Khai is a popular destination with developed industries and several possibilities of establishing import and export activities.
2. Sa Kaeo Special Economic Zone
Sa Kaeo is a beautiful province situated in eastern Thailand and has 6 districts and borders with Cambodia. The agriculture is the main activity here, but the tourism is also well-developed, due to great attractions like the National Park, and interesting artifacts. The economy here is flourishing, Sa Kaeo being known for its plentiful natural resources.
3. Nakhon Phanom Special Economic Zone
With beautiful landscapes and placed in the Northeastern of Thailand, Nakhon Phanom is well-known and appreciated province with special economic zone characteristics. Called the “city of mountains”, Nakhon Phanom attracts numerous investors from abroad who want to explore all the possibilities and to develop activities in agriculture, tourism, palm oil industry and much more.
4. Chiang Rai Special Economic Zone
The history of the province Chiang Rai starts in 1292, but the territory gained its freedom in 1910. The striking landscapes, the fruitful economy, the growing tourism and the interesting education system place Chiang Rai among provinces where businesses can develop quite fast. The raw materials manufacturing, the logistics, and the trading activities are top areas investors consider when choosing a free zone in Thailand.
5. Narathiwat Special Economic Zone
Narathiwat is a Thai province situated in the southern part of the country and has borders with Malaysia. This area is preferred due to its abundant natural resources, where locals deal with agriculture, fishing and raw materials manufacturing. The tourism is also extremely developed, people being attracted to numerous and ancient religious sites. If you want to open a company in Thailand, we strongly recommend you solicit guidance and help when preparing the documents.
6. Tak Special Economic Zone
Persons who want to establish their businesses in Thailand can choose Tak, a special economic zone in the western area of the country. With a well-developed infrastructure, agriculture, tourism and jewelry industry, Tak is a special economic zone with 9 important districts, which is preferred by investors from abroad who choose to relocate here and start doing business. Setting up a company in Thailand is an effortless process if you prepare the needed documents with suitable help from our advisors.
7. Kanchanaburi Special Economic Zone
The history of Kanchanaburi province starts in the 18th century and has two important commercial districts, where all sorts of businesses have encountered significant developments and profits. If you wish to benefit from numerous advantages this free zone has, you can open your company here. The infrastructure is extremely developed, the investment possibilities being related to advanced tourism, manufacturing, real estate, oil, and gas industry.
8. Trat Special Economic Zone
Situated in the Eastern Thailand at the Cambodian border, Trat was recognized as a province in the 17th century, it has seven major districts and a booming economy. Palm oil industry, raw materials manufacturing, the food industry, the tourism are among sectors preferred by people who want to make investments here or to set up their activities.
9. Mukdahan Special Economic Zones
The province of Mukdahan is located in western Thailand, it has well-developed agriculture, import, and export. The province is modern and attractive, with numerous business opportunities here.
10. Songkhla Special Economic Zone
Songkhla is one of the most appreciated free zones in Thailand, with proper infrastructure and numerous connections to the cities and countries around. This is a modern province, suitable for all entrepreneurs interested in doing business here.