Southeast Asia · current conditions as of 24 September 2026 · fundamentals reviewed 16 October 2026
🇹🇭 Doing business in Thailand
Southeast Asian hub with strong manufacturing base and booming tourism recovery.
Long-term risk: Medium
What makes up the long-term score
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.
Summarised from our dataset and not yet linked to sources. Verify with local counsel before acting.
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 team (1 senior manager, 5 professionals, 2 admin, 2 support), Grade A office, registration, legal, audit and tax compliance. Model estimate, not a quote.
First year by industry (10 people)
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
Tap a market to see it side by side with Thailand.
Common questions
Is Thailand a good market to enter in 2026?
Thailand has a long-term score of 6.6/10 on EmergingMarketIQ’s index (long-term risk: Medium) and scores 6.6/10 now, as of 24 September 2026. Southeast Asian hub with strong manufacturing base and booming tourism recovery. 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.
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; depending on industry the range is US$367k–US$508k. 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 and alerts updated 24 September 2026; GDP (World Bank 2025) and FX 24 September 2026; structural scores reviewed 16 October 2026. Rules, rates and conditions change, so verify with local counsel before acting. Not legal, tax or investment advice.