Doing Business in Thailand
HELPING YOUR BUSINESS GROW INTERNATIONALLY
Thailand Business Guide
This guide was produced by the UK Trade & Investment Thailand Markets Unit in collaboration with the British Posts in Thailand. Disclaimer Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation and Skills, and the Foreign and Commonwealth Office) accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned.
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Front cover image: Bangkok
CONTENTS
INTRODUCTION RESEARCHING THE MARKET MARKET ENTRY
GETTING STARTED
BUSINESS ISSUES AND CONSIDERATIONS
BUSINESS CULTURE
Why Thailand? About this Business Guide Where to begin How we can help you Key business locations Establishing a presence Getting to Thailand Finding a customer or partner Due diligence Employing staff Language Marketing Day-to-day communications Interpreters Intellectual property rights (IPR) Procurement Regulations and standards Getting paid and financial issues Insurance Management control and quality assurance Bribery and corruption Monarchy Religion Introductions and greetings Making conversation Entertainment Gifts Body language and gestures Meetings and presentations Negotiating techniques
UK SUCCESS STORIES CONTACTS RESOURCES/USEFUL LINKS
4 10 12 15 17 18 22 24 25 26 29 30 31 32 37 39 41 46 47 48 48 50 50 51 51 52 52 53 53 54 55 56 57 3
INTRODUCTION WHY THAILAND?
Thailand offers exciting business opportunities to companies prepared to take a serious interest in this dynamic market. Over a number of years, Thailand, which has a population of 67 million, has managed to transform its economy from one that was primarily agriculture-based, to one of the most diverse in the region. As well as agriculture, major
Thailand Business Guide
This guide was produced by the UK Trade & Investment Thailand Markets Unit in collaboration with the British Posts in Thailand. Disclaimer Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation and Skills, and the Foreign and Commonwealth Office) accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned.
2
Front cover image: Bangkok
CONTENTS
INTRODUCTION RESEARCHING THE MARKET MARKET ENTRY
GETTING STARTED
BUSINESS ISSUES AND CONSIDERATIONS
BUSINESS CULTURE
Why Thailand? About this Business Guide Where to begin How we can help you Key business locations Establishing a presence Getting to Thailand Finding a customer or partner Due diligence Employing staff Language Marketing Day-to-day communications Interpreters Intellectual property rights (IPR) Procurement Regulations and standards Getting paid and financial issues Insurance Management control and quality assurance Bribery and corruption Monarchy Religion Introductions and greetings Making conversation Entertainment Gifts Body language and gestures Meetings and presentations Negotiating techniques
UK SUCCESS STORIES CONTACTS RESOURCES/USEFUL LINKS
4 10 12 15 17 18 22 24 25 26 29 30 31 32 37 39 41 46 47 48 48 50 50 51 51 52 52 53 53 54 55 56 57 3
INTRODUCTION WHY THAILAND?
Thailand offers exciting business opportunities to companies prepared to take a serious interest in this dynamic market. Over a number of years, Thailand, which has a population of 67 million, has managed to transform its economy from one that was primarily agriculture-based, to one of the most diverse in the region. As well as agriculture, major