There are some things to be prepared before starting a business. Many people think they must first make funding. The funding will depend on the type of business you are going to start. However, before starting the actual business activities, there is one more thing you should carefully consider: BOI certification.
Establishing a company’s legal entity requires funding and a relatively long process. This is the reason why there are many businesses in Thailand delay the legality of their company documents. There are many reasons behind the decision, from the lack of funding to avoid taxes that are considered to reduce profits. If you have trouble with that, Acclime can help you register a boi company in bangkok.
Advantages of having BOI certification
Aside from making the company’s business activities safe, another advantage of BOI Certification is to bring immense benefits. Here are some of the benefits:
Getting Legal Protection
A company with no legality can be prosecuted or terminated at any time. By using BOI certification, your company gets approved, recognized, and listed on the list of companies in Thailand.
Clearing the Separation of Personal Assets with the Company’s
The Thai government has a law to separate private property from the company’s. The company’s financial management should be more organized and has clear limits. It allows you to have your savings in a bank with the name of the company. As the owner, you will get profit-sharing in accordance with what has been set. It will facilitate the process of selling and distributing shares in the future. With the separation of personal and company assets, profit sharing and corporate financial management will also be more organized.
Supporting Professionalism in the Company
Without clear legality, many consumers will doubt the quality of the service or product you offer. This being said, consumers will prefer companies that are considered professional by having BOI certificates. By having BOI certificates, the level of consumer confidence in trusting your company will increase.
Doing Business at Ease
In the long run, the opportunity to get a big project will come. The tender process from the private sector or government agency requires participants to complete company legality documents before participating in the auction. Having an official BOI certificate will help you to get these projects.