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How Do I Make Money In Thailand?
Transcript of the above video:
As the title of this video suggests, we are asking the question, 'how does one make money here in Thailand?' That's kind of the age old question; how do you make money anywhere?
Well it's going to vary depending on again your skill sets. Some people come to Thailand they decide to be teachers for example; some people come to Thailand and decide to set up their own company; some people come to Thailand to set up a restaurant or a bar and grill; others come to Thailand and work remotely for other operations outside of the Kingdom; some come to Thailand and may have their own sort of online business, they may be a digital nomad. We've also seen more and more social media influencers are making Thailand their home. Again, various ways to make money here.
Now the thing to bear in mind from a legal standpoint is how do you go about doing that? Well in Thailand, foreign nationals are not allowed just an unfettered right to work here in Thailand, so those who are coming to Thailand that want to work, looking to make money, you are going to have to deal with the Work Permit process. As we have discussed in other videos, this may vary depending on your circumstances. The vast majority of folks that come to Thailand that set up some sort of business, are going to register some sort of corporation in Thailand and then use that corporation to undertake their business activities. That may also act as a platform for issuance of a Business Visa and a Work Permit. So at the end of the day, when you are looking at coming to Thailand to "make money", you're going have to be looking at okay what kind of structure am I going to have to put in place in order to be able to make money? Generally speaking, as discussed previously, you are going to be looking at some sort of corporate entity. As we discussed in other videos, Americans may be able to avail themselves of what is called the US-Thai Treaty of Amity. There may be other types of concessions, for example in the Eastern Economic Corridor for example there are certain business opportunities, certain concessions associated with Work Permits that may be issued in that particular vicinity, in that particular location.
But the thing to take away from this video is those looking to make money in Thailand, are going to need to deal with work authorization.