Thailand

The ISO code of Thailand is TH according to the ISO 3166 standard. The local name of the country is Prathet Thai. Thailand capital city is Bangkok. People in Thailand speak the Thai language. In the year 1238, Thailand emerged as a sovereign political entity. The largest city in Thailand is Bangkok.

Thailand is located in the UTC +07:00 time zone, which is also called Indochina Time or ICT. The internet country code top-level domain (ccTLD) for Thailand is .th. Other domains assigned to Thailand are .ไทย, .asia. The International dialing code for Thailand is 66. People in Thailand drive on the left side of the road. Total land area of Thailand is 513,120 km² (approx. 198,116 mi²). Thailand is not a landlocked country. It means that is is bordered by at least one major body of water.

Thailand is located in Asia. Thailand is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Thailand faces various issues, including air pollution from vehicle emissions, water pollution from organic and factory wastes, deforestation, soil erosion, wildlife populations threatened by illegal hunting.

Doing business in Thailand

We offer various corporate services in Thailand jurisdiction. These services can serve both, people coming from Thailand and foreigners. If you plan on doing business in Thailand you might be interested in contacting us.

To find out about starting your business in Thailand click on company formation in Thailand.

To find out how to open a bank account in Thailand and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Thailand.

Choose preferred service below or continue reading to find out more about Thailand.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Thailand

The total population of Thailand is 69,183,173 people. In Thailand, the population density is 131 people per square kilometer (341 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Thailand is 0.6338. Thailand has approximately 3913258 foreign immigrants. The median age is approximately 36.2 years. In Thailand, 26.5 in every 100 people use internet. Thailand has a Human Development Index (HDI) of 0.722.

The majority religion of Thailand is Buddhism, Thailand is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Thailand.

Culture of Thailand

People in Thailand speak the Thai language. According to data on inbound tourists in Thailand, 26,547,000 tourists arrive in the country each year. The first McDonalds in Thailand was opened on 23 February 1985, and it was located in Bangkok. One of the most popular national dishes of Thailand is pad thai. To read more click on culture of Thailand.

Geography of Thailand

Thailand is considered to be a large nation because of its total area. Its total land area is 513,120 km² (approx. 198,116 mi²). Thailand is located in Asia. Its capital city is Bangkok. Thailand has 4 neighbouring countries. Its neighbours include Myanmar, Cambodia, Laos, and Malaysia. Total length of land borders of Thailand is 5673 kilometers (~2,190 miles).

The highest point of Thailand is Doi Inthanon, with its official height being 2565 m (8,416 ft). Including land mass and EEZ, the total area of Thailand is approximately 812,517 km² (~313,713 mi²). The most notable natural resources found in Thailand are tin, rubber, natural gas, tungsten, tantalum, timber, lead, fish, gypsum, lignite, fluorite, arable land.To read more click on geography of Thailand.

Economy of Thailand

The currency of the country is Thai baht. The symbol used for this currency is ฿, and it is abbreviated as THB. 1.1% of population in the country are unemployed. The total number of unemployed people in Thailand is 761,015. Each year, Thailand exports around $225.4 billion and imports roughly $219 billion. The Gini Index of the country is 39.4. Thailand has a Human Development Index (HDI) of 0.722.The Global Peace Index (GPI) for Thailand is 2.303. Thailand has a government debt of 43.3% of the country's Gross Domestic Product (GDP), as assessed in 2012. Thailand is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing such as jewelry and electric appliances, computers and parts, integrated circuits, furniture, plastics, automobiles and automotive parts, agricultural machinery, air conditioning and refrigeration, ceramics, aluminum, chemical, environmental management, glass, granite and marble, leather, machinery and metal work, petrochemical, petroleum refining, pharmaceuticals, printing, pulp and paper, rubber, sugar, rice, fishing, casava, world's second-largest tungsten producer and third-largest tin producer.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Thailand is $1,069,569 billion. Each year, consumers spend around $218,205 million. The ratio of consumer spending to GDP in Thailand is 0%, and the ratio of consumer spending to the world consumer market is 0.51. The corporate tax in Thailand is set at 20%. Personal income tax ranges from 0% to 35%, depending on your specific situation and income level. VAT in Thailand is 7%. To read more click on economy of Thailand.

Infrastructure of Thailand

Infrastructure quality in Thailand is rated to be at 3.4. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Thailand, 100% of the population has access to electricity. There are 3,399,000 internet hosts in Thailand. Thailand has 101 airports nationwide.

The logistics performance index of Thailand is 3.43. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 3.45. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Thailand is 38. To read more click on infrastructure of Thailand.

Politics of Thailand

Thailand, is a constitutional monarchy under military junta. With regard to political and civil freedoms, Thailand is 3. Citizens in Thailand experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Maha Vajiralongkorn.

According to the World Bank Group, the government effectiveness index of Thailand is 0.34. This indicates that the government of Thailand is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Thailand before considering any business maneuvers.In Thailand, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Thailand is 2.303. The strength of legal rights index for Thailand is 3. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. Thailand is a member of the United Nations (UN). On 16 December 1946, it joined the UN as a full member state. Thailand is a member of the World Bank. To read more click on politics of Thailand.

Environment of Thailand

Thailand emits 4.5 metric tons per capita of CO₂. 147620 km² of Thailand's territory is covered in forests. and forest land comprises 29% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Thailand is 38. To read more click on environment of Thailand.

Company formation in Thailand

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Thailand.

When establishing a company in Thailand, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Thailand that will affect the establishment and growth of one's business. Contact us or click on company formation in Thailand to read additional information when setting up a business.

Bank account opening in Thailand

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Thailand. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Thailand, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Thailand or contact us.