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Director Services for New and Existing Investors in Thailand
Any investment, whether a ‘greenfield’ start-up, joint venture or acquisition, in a foreign country, and especially Thailand, can be a daunting task when home base is thousands of miles away. In many such cases investors from overseas face significant differences in
- business regulations (e.g. tax, legal structure, navigating government bureaucracy)
- culture (e.g. business etiquette, negotiations technique, )
- language
- currency and transaction process/regulations
As a result, overseas investors frequently find it difficult obtaining hard information concerning the current status and future prospects for an existing investment where the local operation is managed by local managers - not a reflection on the competence or integrity of the local management, but a different set of priorities and way of doing business that they are not accustomed to.
There are plenty of good international legal and accounting firms to assist with the legal structure for a new investment, and the Ministry of Business Development and Board of Investment have considerable information, in English, available for all to use. Foreign investors still struggle for the first few months as their highly skilled and experienced management from home base try to understand how business is conducted and how to handle a skilled but culturally different workforce.
This is particularly the case with joint ventures, mergers and acquisitions where local partners and managers may have different priorities, standards and management techniques to those of the overseas partner.
| Understanding how to get things done and how to work with local partners and management takes time and this is where we at Baker Tilly Thailand can assist. We have expatriate Partners with over 15 years of business experience in Thailand, mostly on the Boards of various companies which were joint venture start-ups, mergers or acquisitions. |
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Our services are many and vary from:
- Temporary Managing Director (3 to 6 months) for start-ups
- Independent Director representing the overseas shareholders in Board and/or management meetings
- Executive Director (circular resolutions not now permitted under Thai law and directors must be present at Board meetings as proxies are not permitted). These regulations make it very difficult for overseas based directors to be functional.
- Adviser working alongside the client’s managing director
These services are available on a retained or per diem basis. We are able to provide advice in many areas or management assistance on either a short term project basis or long term involvement through Board representation.
Baker Tilly Thailand is an independent member of Baker Tilly International, the 8th largest accounting and business consulting network in the world and headquartered in London. We have offices in Bangkok employing over 130 professional staff with expertise in Tax Consulting, Corporate Financing, Accounting, Risk Management, SOX compliance, Statutory Audit and Internal Audit.
Further information available from: Robert.brown@bakertillythailand.com
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