Thailand is an independent country in Southeast Asia. The country has achieved enormous economic growth in recent times. Thailand is the 2nd largest economy in Southeast Asia after Indonesia. Apart from tourism and exports, Thailand also depends much on offshore businesses for growth of its economy. Thailand is a famous offshore jurisdiction in Asia where large numbers of companies are doing businesses in order to gain benefits of such jurisdictions. Following are few important benefits that are provided by Thailand to offshore companies due to which there is continuous rise of offshore companies in the country.
- The most important purpose for most of the companies going offshore is saving taxes. Usually individuals and corporations located in countries that apply heavy taxes on companies and their profits are in search of countries that provide them with tax relaxations. Such corporations can find a good tax avoidance location in the shape of Thailand. Apart from applying low taxes, Thailand also has Double Tax Treaties/Agreements (DTAs) with several countries. Such treaties save the companies with address of Thailand to avoid taxes by having their businesses in countries having DTAs with Thailand
- As compared to onshore companies, the registration process of a company in Thailand offshore is either very low or even no requirement at all in few cases. The formation of offshore company is also easier and quick due to absence of red tape. Along with that, maintenance cost of offshore corporation is also quite low. This includes cost related to accounts’ preparation, auditing and others
- After tax relaxation, the second most important factor for which offshore jurisdictions are selected is privacy and confidentiality. The same characteristic is also available in Thailand offshore jurisdiction. Like other such jurisdictions, Thailand also provides privacy of identification of owners and directors of offshore company and their names are not made public. This privacy also provides asset protection to owners as this confidentiality protects them from legal actions from jealous competitors and tyrant regimes
These are few important benefits that one can achieve by setting up an offshore company in Thailand. For further details and inquiry, you can contact Dubai Offshore Company Setup via our landline # 00-971-4-558-6339.