Southeast Asia · updated 24 September 2026
🇹🇭 Doing business in Thailand
Southeast Asian hub with strong manufacturing base and booming tourism recovery.
Structural scores
Highlights: BOI investment incentives among best in region · Strong automotive and electronics manufacturing · Tourism recovering strongly post-COVID
Key industries
Tourism & Hospitality ↑ Strong recovery
Thailand welcomed 35M+ visitors in 2023 with revenue exceeding $50B. Medical and wellness tourism are high growth segments.
Main investors: China, EU, US, Australia
Manufacturing & Automotive ↑ Growing
Thailand is Southeast Asias largest automotive producer with Ford, Toyota and Honda major operations. EV transition investment is surging.
Main investors: Japan, US, China, Germany
Agriculture & Food Processing → Stable
Thailand is worlds top exporter of rice, rubber and cassava. Food processing and agritech investment growing strongly.
Main investors: Japan, EU, US, China
Technology & Digital ↑ Growing
Eastern Economic Corridor EEC is Thailands flagship high tech investment zone targeting biotech, aviation and digital industries.
Main investors: Japan, China, US, Singapore
Sector priorities
- Eastern Economic Corridor — EEC offers 8 year tax holidays, 100% foreign ownership and world class infrastructure for targeted industries including biotech and aviation.
- Tourism & Medical Tourism — Thailand is Asias leading medical tourism destination with JCI accredited hospitals attracting 3M+ medical tourists annually.
- EV & Automotive Manufacturing — Government targeting 30% EV production by 2030 creating significant investment opportunity in EV supply chain and manufacturing.
Talent & work permits
Thailand has a workforce of 40M with strong manufacturing and hospitality skills. English proficiency improving but Thai language skills helpful for management roles.
- Foreign workers: Non-Immigrant B visa required for employment. Work permit from Department of Employment mandatory before starting work.
- Localisation: Foreign worker quota of 1 expat per 4 Thai employees applies generally. BOI promoted companies receive more flexible quota allowances.
- Key consideration: Thailand BOI offers some of Asias most attractive investment incentives including 8 year corporate tax holidays for qualifying activities in the EEC.
How to enter: first four steps
Thailand offers BOI promoted investment route giving significant tax and ownership benefits. EEC zone offers most attractive terms.
- Apply for BOI promotion — Board of Investment offers tax holidays, import duty exemptions and 100% foreign ownership for qualifying projects
- Register with DBD — Department of Business Development for company registration. Foreign Business Licence required for most foreign majority businesses
- Obtain work permits — Non-Immigrant B visa followed by work permit from Department of Employment for all foreign employees
- Register with Revenue Department — corporate income tax at 20% and VAT registration if turnover exceeds THB 1.8M
Indicative cost: 10-person team
Professional-services mix (1 senior, 5 professional, 2 admin, 2 support), Grade-A office, registration, legal, audit and tax compliance. Model estimate, not a quote. Model your own team size and industry →
Regulatory watch
- Mar 2026 · EEC Investment Incentives Enhanced — Thailand BOI announced enhanced incentives for Eastern Economic Corridor investments in targeted industries including 10 year corporate tax holidays for AI and biotech.
Compare with Southeast Asia peers
Common questions
Is Thailand a good market to enter in 2026?
Thailand scores 6.6/10 on EmergingMarketIQ’s structural index (risk: Medium). Southeast Asian hub with strong manufacturing base and booming tourism recovery. Current-conditions score: 6.6/10 (No direct exposure to the Iran conflict. Higher global oil prices (Brent above US$100 in late Sep 2026) and shipping disruption raise operating and logistics costs.) — updated 24 September 2026.
How much does it cost to set up a 10-person office in Thailand?
Our cost model estimates about US$438k for the first year (≈US$34k per month run-rate plus ≈US$15k one-off setup) for a 10-person professional-services team. Indicative only.
What are the first steps to set up a company in Thailand?
Apply for BOI promotion — Board of Investment offers tax holidays, import duty exemptions and 100% foreign ownership for qualifying projects Then: Register with DBD — Department of Business Development for company registration. Foreign Business Licence required for most foreign majority businesses Then: Obtain work permits — Non-Immigrant B visa followed by work permit from Department of Employment for all foreign employees Then: Register with Revenue Department — corporate income tax at 20% and VAT registration if turnover exceeds THB 1.8M
Source: EmergingMarketIQ country dataset — current conditions, alerts, GDP (World Bank 2025) and FX updated 24 September 2026; structural scores reviewed 24 September 2026. Rules, rates and conditions change — verify with local counsel before acting. Not legal, tax or investment advice.