Amazon continues growing and gaining market share in markets around the world. This reality applies especially to Thailand, where Amazon Global Selling started operations to help entrepreneurs with businesses in the Asian country to get a piece of the international market pie of the e-commerce giant that today is worth more than $998 billion. Yes, with a B.
If you want to join the entrepreneurs who have opened Amazon stores in Thailand to take advantage of this jurisdiction’s opportunities to those who have an e-commerce style business, our lawyers in Thailand explain how to get started and everything you need to know about opening your own Amazon store.
Our team of lawyers can assist you with incorporating the type of company you need to start your Amazon store and walk you through the process of obtaining a merchant bank account and any other legal services you may need for your Amazon store.
With the help of our law firm in Thailand, you will be able to take advantage of the tax environment of this country to create a company dedicated to digital commerce.
Best of all? You won’t have to lift a finger. We take care of all the paperwork, you only have to worry about the products you want to sell through the world’s largest virtual marketplace.
What are the tax advantages of opening an Amazon store in Thailand?
Thailand offers a number of ideal conditions for setting up e-commerce businesses. The first of these is the Thai tax system, which allows entrepreneurs to deduct depreciation expenses and also to enjoy double taxation treaties with more than 60 countries.
The double taxation treaties signed by the Thai government reach the citizens of the main European countries, Asian countries, and even the United States. Having a group of Thai lawyers becomes handy in these cases to determine if your nationality is covered by one of these treaties and to know if you can take advantage of the tax benefits that this entails.
What is the process for registering a company in Thailand and setting up an Amazon Store?
To operate an Amazon store successfully in Thailand, you will of course need to open a company. To register a business in this country, there is a process that usually consists of five steps:
- Reserve a company name.
- File a Memorandum of Association (MOA).
- Hold a Statutory Meeting.
- Register the company.
- Obtain tax registration in Thailand.
Each step of the process has details that you must follow to the letter in order to have a properly registered company in Thailand. There are also costs associated with the company registration process that you must take into account when starting a business operation in this country.
Although the process of opening a company in Thailand may vary from company to company, in general, these are the five steps you will need to follow to legally do business with a Thai Amazon store. One of our lawyers in Thailand can review your case to assist you during the company registration process.
How can I receive payments from my Amazon store in Thailand?
One of the biggest challenges for those trying to set up their own Amazon store is the issue of setting up a system to receive payments. Many entrepreneurs waste a lot of time trying to open a bank account on their own in Thailand.
The Thai banking system can be challenging for foreign entrepreneurs who are not familiar with the local customs and language.
To solve this problem, our law firm office can guide you to use the services of a merchant account that allows you to use the money you generate from your Amazon store sales.
Opening a merchant bank account in Thailand is not particularly difficult. Still, you should have a good grasp of the local language or choose a bank branch where you can be understood in your language to go through the process without headaches.
If you want to focus on other endeavors and prefer to save yourself the work, our Thai lawyers can take care of everything for you, not only at the time of opening a business bank account but even at the time of registering your company. This way, you can get your Amazon Store up and running in record time.
Combining a Thai company and a company bank account is the most versatile way to dispose of your money and not lose large amounts in commissions.
Therefore, if you need details on how to start receiving money from your amazon store sales, our lawyers in Thailand are here to help you. We specialize in incorporating companies for international investors and entrepreneurs, so you can leave the work to us, and you can just think about developing your business.
Why open a company in Thailand?
Thailand has several reasons why international entrepreneurs and investors are attracted to the idea of opening a business in this country:
- Thailand is ranked 21st in the World Bank’s Doing Business ranking, with a score of 80.1 out of 100, a considerable score worldwide.
- This country, for 2019, sustained a GDP per capita of USD 7,808 according to the IMF. This boosts consumption.
- Thailand is the 20th largest economy in terms of purchasing power in the world.
- It is the 22nd country in the world in terms of ex-pat experience according to HSBC’s 2019 Expat Experience Report.