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ResourcesCorporate and Tax AdvisoryThailand Corporate LawBuying a Business in Thailand in the Aftermath of Coronavirus (COVID19)

Buying a Business in Thailand in the Aftermath of Coronavirus (COVID19)

Transcript of the above video:

As the title of this video suggests, we are discussing buying a business in Thailand. I am making this while we are sort of going through the throes of the COVID-19 shutdown mostly because I think that there are going to be issues associated with buying a business for many people who are looking at doing business in Thailand in the aftermath of COVID-19 or the Coronavirus outbreak.

Why am I making this video? Well I think there are going to be bargains out there. I think there are going to be business and I also think there is going to be capital out there. By capital I mean fixed-capital; things like business equipment, for example in restaurants, the food and beverage business I think there's going to be a lot of overstock out there. There are going to be a lot of things to buy for example from restaurants that did not reopen unfortunately in the aftermath of this COVID-19 or bars for example that did not reopen. There may be stock leftover. I think if one were looking at doing business in Thailand, the latter half of 2020 might not be a terrible time to actually look at doing business in Thailand because I think there are going to be a lot of bargains out there with respect to getting into a business in Thailand depending on what you want to do. I am not saying everything is related to F&B or the bar business. There are other businesses to get into. I happen to know that there are certain factories that are looking very good in the aftermath COVID-19 and the Coronavirus outbreak. So, this may be a good time for people to look at getting into business here in Thailand. Also with certain supply chain disruptions Thailand is looking better and better and we have also done many videos and written articles on our website and on this channel regarding for example the benefits of the US-Thai Treaty of Amity and the benefits that are conferred to Americans doing business in Thailand. Most notably I think there are many avenues to pursue here in Thailand where one could end up replacing certain aspects of the supply chain flowing out of China down here in Thailand.

So a lot going on here but something to keep in mind with respect to buying a business in Thailand, it is always a good idea to conduct proper due diligence, have a legal professional on hand to be able to provide insight into how best to get up and going and to get the process moving of actually doing business here in Thailand and understanding what exactly you are buying. Oftentimes people buy into something and they don't really have a full understanding of exactly the rights and benefits that they are acquiring when acquiring a business entity here in Thailand. 

So the thing to take away from this video, yes I think that the latter half of 2020 is going to be a great time to get into business here in Thailand. That being said, it is also going to be a good time to be doing one's due diligence to make sure they are getting exactly what they think they are getting at the time of purchase.