The best business opportunities to set-up in Thailand
Among the best business opportunities to create in Thailand, some ideas deserve more attention. For that, let’s explore more in-depth through the following article.
Opening a restaurant
Catering is one of the first ideas that come to mind for most people. This is understandable, food plays a main role in our daily lives and there are a lot of tutorials online to inspire people to start a new business. Moreover, anyone who has discovered Thailand knows that food and cooking are the core of Thai culture.
Considering the habits of locals and the number of tourists arriving in Thailand each year, opening a small restaurant is really tempting. However, when you are ready to turn this idea into reality, there will be some questions in front of you, such as how much it may cost to rent a place in Thailand or what the formalities may have to process.
Fortunately, our team can answer your series of questions and assist you to bring your business concept into reality. But undeniably, opening a restaurant in Thailand may involve risks, and managing Thai staff can be also a challenge. Anyway, as long as you have a good business plan, some startup fund, and a strong mindset, you can make it! Don’t forget that IBS is ready to be part of your success story to start a business in Thailand.
Investing in a Guesthouse
Investing in a guest house is a popular business type for many people who consider moving to Thailand. Indeed, a guesthouse is the ultimate dream-home wish list item for many of us. You will have a separate space to live in while there’s the potential to generate income from offering accommodation and catering services to travelers.
Although it’s really an appealing idea, there are still some limits for foreigners which we need to consider. For example, foreigners are not allowed to own land under Thai property law but are allowed to hold it by a Thai company or hold the rights of property on it by a long-term lease, which as known as leasehold (can pre-register 3 consecutive 30-year leases at once, which essentially provides a 90-year lease.).
In addition, you will be required for a hotel license to accommodate travelers as a guesthouse. The good news is, depending on the size and capacity of your accommodation, it’s possible to be exempted from the license. But still, like any money-making opportunity, your project requires time and money.
Working as a digital nomad
Thailand has recently started offering business opportunities for digital nomads. Not surprisingly, the Internet plays an indispensable role in our work and life, and also provides a rising number of job opportunities, which gave birth to a large number of digital nomads, especially in the Land of Smiles. On the one hand, the digital world opens up endless possibilities for programmers, web designers, website developers, software engineers, etc.
And on the other hand, working in Thailand allows you to enjoy a comfortable life with low living costs. However, we would like to kindly remind you that even working as a digital nomad in Thailand, a work permit with a proper visa is still a MUST. Otherwise, you are not allowed to offer any services as a web consultant. On balance, Thailand is full of opportunities for digital nomads, you just need to make it in a legal way and don’t forget that IBS is always on your side to help you so feel free to contact us.
Getting a language teaching job
For people with language advantages, working abroad as an English teacher in schools can be a good choice, especially for those professional teachers with qualifications who are easy to get a well-paid teaching job in an international school in Thailand.
Besides, there are other opportunities for foreigners to use their language advantage to make a living, such as teaching in a language institute, translating, interpreting, or working for some companies that need people who can speak another language. In short, as long as you have any language skills, it’s not difficult to have an income while enjoying the low-cost life in Thailand.
Becoming a real estate agent
With the rapid development of the real estate market in Thailand, becoming a real estate agent has been a popular choice. As the foreign market plays the main role, many real estate companies are keen on bilingual or multilingual talents.
Depending on different cases, some people prefer working in developer companies or real estate agencies with support on work permits and visas, while the others would like to set up their own agencies to make bigger profits or be freelance agents, as there is no need to have any particular license to conduct property transactions. But it’s worth mentioning if you plan to engage in real estate, it’s necessary to know about the Land and Property Law of Thailand.
For example, there are limits for foreigners when it comes to property investment, such as foreigner is not allowed to own land, or the foreign quota of sales for condominiums cannot exceed 49%. But this is not to say that foreign buyers have fewer investment opportunities, there are multiple solutions available for foreign buyers like holding land or villa by a Thai company or buying a condo of Thai quota by leasehold. Anyway, the real estate industry has great profit potential.
