Mizzima
Myanmar nationals residing in Thailand can start a business, but the first step is to understand the ownership rules and legal requirements, as highlighted by a speaker at the Thai-Myanmar Business Gift and Idea Exchange event in Chiang Mai, held on 14 and 15 February.
According to the speaker, partnering with Thai individuals is the most common approach. Currently, foreigners, including Myanmar nationals, can hold up to 49% of a company’s shares, while Thai partners must hold 51%. Although 100% foreign ownership is technically possible, the process is more stringent and requires substantial financial proof.
“Regarding Myanmar nationals living here in Thailand, can they do business? Yes, they certainly can. However, they must collaborate with Thais – that’s rule number one,” the speaker said.
Entrepreneurs cannot register a company while on a tourist visa. A long-term visa is necessary, such as a Work Visa, Non-O Visa, or a Marriage Visa if married to a Thai citizen.
The registered capital typically ranges from 500,000 to 2 million Baht. If a foreigner requires a visa through the company, a registered capital of 2 million Baht is necessary. However, the paid-up capital needed to start operations can be as low as 250,000 Baht.
A clear business address must be provided. If registering under a Thai partner, the company can use their home address if they own it. If renting, written permission from the landlord is required. Standard documentation, such as passport copies and identification papers, must also be submitted.
After registration, business owners will receive tax guidelines. Corporate income tax is only applicable if there is profit; if expenses exceed income, no corporate income tax is due.
“I want to encourage everyone to operate legally. By doing so, you can stay long-term,” urged the Thai entrepreneur.
Entrepreneurs were also encouraged to build trusted partnerships and enhance their networks by participating in business events and cooperation platforms.
The “Thai-Myanmar Business, Culture & Sustainability, Gift & Idea Exchange” held on the weekend in Chiang Mai aimed to empower SMEs by creating new business opportunities and fostering innovative ideas between the two countries. The event underscored the importance of Thai-Myanmar cooperation, SME support, and promoting sustainable business and green innovation among young entrepreneurs.
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