The world has shrunk considerably since the start of the digital revolution and many business owners are casting their attention to foreign markets. Asia has always been an economic tiger, especially Southeast Asia and in this short article, we take a closer look at some of the most popular Southeast Asian nations for foreign investors to set up businesses.
- Singapore – Singapore has long been an economic powerhouse and with a stable democracy and many incentives, you should visit Acclime Singapore website for more information about the types of businesses that foreigners can open in Singapore. Since the end of WWII, Singapore has enjoyed a vibrant economy and with the help of a local law firm, you can take the first steps to opening a business, confident of compliance.
- Thailand – Many expats love Thailand so much, they decide to relocate and set up a business to fund their new lifestyle; if you partner with a Thai national, who holds 51% of the company, you, as a foreigner, can hold the remaining 49%. If you already operate your business in your home country, you can set up a branch office, which allows you to carry out market research, plus you can obtain a long-term visa and work permit (required in Thailand). Click here for tips on hiring the right employees.
- Malaysia – The Malaysian government offers foreign investors many incentives to attract new investment and if you have a local contact, it is very easy to set up a limited partnership. An international law firm would employ Malaysian lawyers who have hands-on experience in facilitating business registration, while also connecting you with any local services that you might need.
- Vietnam – Another popular location for expats, Vietnam is beautiful and they are enjoying a thriving economy, which is good news for foreign investors. You might be planning to export textiles into your home country, in which case, it makes sense to set up a business in Vietnam. For more information, search online for a Vietnamese law firm that facilitates foreign business registration.
- Indonesia – This country has opened up considerably since the turn of the century and if you are planning to do some market research in Jakarta, find a local law firm that can assist you in many ways. Of course, language is an issue, especially in a Muslim nation such as Indonesia; make sure that your legal consultant speaks English.
- Hong Kong/China – The Chinese market is huge and for many foreign investors, the East is a very attractive market to enter into. In order to comply with the complex set of protocols of Chinese beaurocracy, you need to engage the services of an English-speaking lawyer who has experience with setting up businesses for foreigners.
Different people have their own reasons for choosing a country in which to formulate a business and if you are looking to penetrate Southeast Asia, there are local law firms ready to assist you in many ways.