So you have a new idea and are excited about it. We want to hear about it too. Here we want to talk about how to write a business plan for your new startup. We will cover most of the things that your future investors and lenders need to see so that they understand your vision. If you don’t know how to write a business plan for your new startup, it is OK. We can help you do it. With our help, it is very likely that you will be able to get funding.
Normally a startup business plan has a one-page Executive Summary in the beginning, which is a summary of the whole business plan. Some readers only read the executive summary and can make a decision already. The business plan should have at least the following topics:
The Company or your background
Mission & vision
– Mission – Describe your organization’s mission
– Vision – Describe your organization’s vision
Management team – List the people behind the idea and briefly describe their role.
Products / services – Describe features and benefits of your products and services.
Technology and innovation applied – Explain why your startup is innovative.
Industry description/ competition/ trends
– Industry description – Explain how your startup impacts to the targeted industry*.
– Competition – Who are your competitors (company or business)? How is your product/service different from others? What can you do better that really matters to consumers or profitability?
– Trends – How do you see the overall trend affect your product/services?
Marketing & sales strategies
– Marketing strategies – Who are your target customers? How are you going to promote and distribute your products/services?
– Sales strategies – How are you going to get customers or clients to buy your products/services?
Financial plan/ Exit strategy/ Funds required
– Financial Plan – Explain funding & investment plan. How are you going to seek funding? What are you going to do with the money?
– Exit strategy
– Funds required
Revenue model – Explain how the startup is going to make money, the average price of sales or services the startup will receive and from which group of customers, etc.
Growth strategies – Explain your growth objectives and how you intend to develop your startup business.
Contact MSNA Group for our expert advice because we know how to write a business plan for your new startup!
Many foreign companies want to enter the Thai market to sell their software or platform. Some want to just hire an employee in The Kingdom and do the business. Others want to set up 100% foreign owned company to sell software in Thailand. Both violate the Foreign Business Law. If you want to retail or wholesale your software and do not want to have majority Thai partners in your company, you will need to obtain a Foreign Business License for your 100% foreign owned company to sell software in Thailand. Most likely you will not get approved because Thai majority companies can sell software too. You need to be able to prove why Thailand needs your foreign majority company to do the business that Thai people can do.
Now we want to point out the law; Numbers 14 and 15 from Schedule 3 annexed to Thailand Foreign Business Law, are about retail and wholesale of goods:
14. Retail of goods of all kinds having the total minimum capital less than Baht 100,000,000 or having the minimum capital of each shop less than Baht 20,000,000; and
15. Wholesale of goods of all kinds having the minimum capital of each shop less than Baht 100,000,000.
If you can have Baht 100M capital, then you can have 100% foreign owned company to sell software in Thailand. However, most likely, you do not want to set up a company with Baht 100M capital. That means you will not be able to own the majority of your company in Thailand for doing such business.
Now, if you want to develop software or platforms in Thailand, you may be eligible to apply for the Board of Investment promotion, which will allow you to sell the software you make. Read here for how we answered questions about Thailand BOI companies for software developers.
Talk to MSNA Group today to discuss many solutions that we have for you.
Some of our clients, companies from Indore, India, got BOI to operate as 100% foreign ownership companies, with MSNA Group’s assistance. One got the BOI promotion for software activity for the software development business. Another one got the Board of Investment approval to operate in Thailand with 100% foreign ownership in the Trade and Investment Support Office category for their telecommunication engineering business. Hear what our clients say about working with MSNA Group:
“We are entities based in Indore, India, in the businesses of Software, Digital translation and Telecom Network Infrastructure. We have been using Thai Lawyers Ltd./MSNA Group to set up our Thailand BOI companies since 2017. It is always a wonderful experience with the many services offered by MSNA Group. – Mr. Manmohan Saxena, Financial Controller, Diaspark Infotech Private Limited
We thank you so much for your business. Our team enjoy working with you too. We strive to have our clients’ most satisfaction.
Foreigners looking to have 100% foreign ownership in their business in Thailand, please contact ThaiLawyers or MSNA Group. We have solutions for you. Whether you are in the service business, IT, manufacturing, engineering, etc., you may be able to get a BOI company, which will allow 100% foreign ownership and many work permits.
Since the last decade, Thailand has been the biggest manufacturer of hard disk drives. Thailand offers low cost, literate, high quality labour and national infrastructure that facilitates the export market. The big digital companies are now manufacturing their products in Thailand to take advantages of these benefits. Some of the conditions and incentives that could help you are listed below.
BOI Activity 5.4.6 Manufacture of hard disk drive
Conditions:
– The areal density of hard disk drives must not be less than 2,000 gigabits per square inch.
– The cost of refurbishment of existing machines shall be regarded as an investment and will be taken into account in the calculation of corporate income tax exemption cap. The original cost of existing machines shall not be regarded as an investment.
Incentives:
An exemption of corporate tax for 8 years.
Exemption of import duties on machinery
Exemption of import duties on raw materials used in production for export
100% foreign ownership
Permit to own the land
Permit to bring skilled workers and experts into the Kingdom
Get in touch with us so we can help you set up your BOI Company in Thailand.
Thailand Investment Promotion for Software Park Business
As the digital way of life has now been touching all corners of the Thai society, the software industry is a very crucial driver for the country’s technological, social and economic development. With a very competitive market, Thailand is a very attractive software investment location for its skilled and affordable workforce, with programmers with a strong suit. If you are planning to invest in a Software Park business in Thailand, then the conditions and incentives below might help you.
Conditions:
Project must have high-speed fibre-optic main communication system throughout the area.
The main telecommunication system must have a high-speed cable from the software park to domestic and international telecommunication centre.
Continuous back-up of electricity supply must be installed.
The total area must not be less than 5,000 square meters.
Incentives to set up a software park in Thailand promoted by the board of investment are:
An 8 year exemption from corporate income tax
Exemption of import duties of machinery such as computers and software
Exemption of import duties on raw materials used in production for export
100% foreign ownership
Permit to own the land
Permit to bring skilled workers and experts to work in Thailand.
For further queries, please feel free to read the Thailand BOI information and contact MSNA to help you with your BOI company registration.
Thailand Board of Investment sees the crucial benefits to Thailand in promoting the nanotechnology industry. If your business can meet these conditions, it is definitely worthwhile to pursue the BOI application.
Conditions:
Target technology development procedures shall be used as a base for the manufacturing process or service provision in the target industry as approved by the BOI.
There must be a technology transfer with an educational institution or research institute as approved by the BOI e.g. Technology Research Consortium.
Project located in a science and technology park promoted by the BOI or one that is approved by the Board will receive an additional 50 percent reduction in a corporate income tax for 5 years after the end of its corporate income tax exemption period.
Project may apply for merit based incentive and be granted the corporate income tax exemption for not exceeding 13 years.
Project shall be granted import duty exemption on goods.
Here are the benefits of getting BOI promotion for your business in the nanotechnology industry
Exemption from corporate income tax for 10 years without cap on the income tax you can save.
Exemption of import duties on new machinery that you may need to import for your new business.
Exemption of import duties on raw materials used in production for export.
100% foreigner ownership of your business
Your BOI promoted company can own land that you will use only for your promoted business activity.
Your company will be able to get a lot of work permits for your skilled workers and experts.
MSNA Group can help you set up your BOI company in Thailand with ease. Talk to us today.
Thailand Board of Investment offers incentives and benefits for businesses within the medicine manufacturing industry. In order to qualify for the benefits, medicine manufacturing operations must meet certain conditions as set forth below.
The BOI conditions and incentives are summarized below:
Conditions:
For conventional medicine projects, such promoted projects must achieve GMP standard prescribed by PIC/S within two years from the full operation start-up date.
For traditional medicine projects, such promoted projects must achieve GMP standard within two years from the full operation start-up date.
For the improvement of existing projects, existing machinery can be used in the promoted project but its value shall not be included in the investment amount eligible for corporate income tax exemption.
Incentives are A3 category:
Exemption from corporate income tax for 5 years.
Exemption of import duties on new machinery.
Exemption of import duties on raw materials used in production for export.
100% foreigner ownership.
Permit to own land.
Permit to bring in skilled workers and experts to work in the Kingdom.
Let MSNA Group help you in setting up your BOI company in Thailand.
BOI Promotion for Manufacture of Metal Products or Metal Parts
The Board of Investment provides incentives and benefits for doing business in Thailand within the metal manufacturing industry. In order to qualify for the benefits, the project must have metal forming process continuing from iron/steel casting process (using induction furnace) or iron/steel forging process, i.e. machining and stamping within the same project. Incentives for doing business in the manufacturing of metal products or parts includes corporate income tax and import duty exemptions.
The BOI incentives granted to the business of Manufacture of Metal Products or Metal Parts are summarized below:
Exemption from corporate income tax for 5 years.
Exemption of import duties on new machinery.
Exemption of import duties on raw materials used in production for export.
The company can be owned 100% by foreigners.
You can own land enough for your business use.
Getting many work permits for your skilled expat employees.
Let’s discuss your Thailand’s business plan today. Contact MSNA Group for expert advice in setting up your BOI company.
The BOI provides incentives and benefits for doing business in Thailand within the plant or animal breeding industry. This incentive aids those companies that are not eligible for biotechnology activity. In order to qualify for the benefits, plant or animal breeding operations must meet certain conditions as set forth below.
The BOI conditions and incentives are summarized below:
Conditions:
Projects must have research and development activities.
For breeding of sensitive plants according to the policy of the Ministry of Agriculture and Cooperatives, projects must have Thai nationals holding shares not less than 51 percent of the registered capital.
Projects must have expenses for salaries for R&D personnel of at least 1,500,000 baht per year.
Projects located in the science and technology park promoted by BOI or one that is approved by the Board will receive an additional 50 percent reduction of corporate income tax for 5 years after the end of its corporate tax exemption period.
Revenue derived from plant propagation after plant breeding in the project shall be regarded as revenue of promoted projects, except for the propagation of cassava.
Incentives:
Exemption from corporate income tax for 5 years.
Exemption of import duties on new machinery.
Exemption of import duties on raw materials used in production for export.
100% foreigner ownership.
Permit to own land.
Permit to bring in skilled workers and experts to work in the Kingdom.
Contact MSNA Group to set up your BOI company in Thailand now.
Thailand BOI for Digital Service and Software Platforms
The BOI provides incentives and benefits for doing business in Thailand within the expanding digital services industry. Such business operations include:
Software platform
Managed service
Digital architecture design service
Digital services such as FinTech, DigiTech, MedTech, AgriTech, etc.
The BOI conditions and incentives are summarized below:
Conditions:
The project must hire digital specialists
The project must have capital investment (excluding cost of land and working capital) not less than 1,000,000 baht.
It must include digital service processes as approved by the Board.
The project with an investment of 10 million baht or more (excluding cost of land and working capital) must be certified with ISO 20000 or other quality standard certificate as approved by the Ministry of Information and Communication Technology within 2 years from the full operation start-up date, otherwise the corporate income tax exemption shall be reduced by 1 year.
Revenue derived from sales or the provision of services that are directly related to a promoted digital service business shall be regarded as revenue of such promoted business.
Projects must gain approval from the Ministry of Digital Economy and Society before applying for investment promotion.
If you work with MSNA Group in applying for the BOI promotion, we will walk you through the process and make it very easy for you to write the details for the BOI application. You may want to read some of our BOI testimonials from our clients that we help get the investment promotion.
If you get the BOI for this business, the benefits are as follows:
Corporate income tax exemption for 5 years
Exemption of import duties on new machinery.
Exemption of import duties on raw materials used in production for export.
100% foreigner ownership.
Permit to own land.
Permit to bring in skilled workers and experts to work in the Kingdom.
