Sunday, May 26, 2024
HomeBusinessWhy Foreign Entrepreneurs Set Up Businesses in Southeast Asia

Why Foreign Entrepreneurs Set Up Businesses in Southeast Asia

Date:

Related stories

Dimple Malhan- Personal and Professional life!!

Famous Vlogger recognised for Dimple's Kitchen YouTube channel. She...

Send Flowers to Dubai from the Best Florists

With regards to communicating adoration, appreciation, and festivity, barely...

The Importance of Motorcycle Safety Gear

Riding a motorbike delivers a sense of freedom and...

Understanding The Aftermath Of A Motorcycle Accident

Motorcycle accidents in Las Vegas can change your life...

How to Choose an Outdoor Patio Furniture Supplier in Florence

Is your outdoor space ready for a makeover? Whether...

Recent statistics show that more expat Western entrepreneurs are setting up businesses in Southeast Asian countries, such as Thailand, Vietnam, Malaysia, Singapore and Indonesia. There are, of course, many reasons for this; the digital revolution has made global communication much easier and cheaper, while air travel has always been affordable for those who are looking to do business abroad.

Relocation

This is one good reason why foreigners are setting up businesses in Southeast Asia; indeed, many Western men find a partner in such a country and wish to relocate and to make a living, they enter into business, often with their romantic partner doubling as a business partner. It does seem that many Westerners are unhappy with the way things are going in their home country and are therefore looking to relocate.

Business expansion

Some European and American business owners are looking to penetrate new markets and Southeast Asia has some very attractive destinations. Once the company is registered, there are payroll solutions and you can hire local staff to work under you or one of your managers. Aside from the obvious tax benefits, setting up a foreign-owned business in a country like Vietnam affords you long-term visas. You could start by registering a Representative Office, which allows you to carry out market research and when you are ready to do business, change to a limited company or partnership.

Low cost of living

The cost of living keeps rising in developed countries, so much so that many digital entrepreneurs prefer to spend time in a place like Southeast Asia and by registering a business, long-term residency is much easier. Prices in Vietnam, Indonesia and Thailand are much cheaper than in the West, which is a major driver that sees entrepreneurs moving further afield.

See also  Bidens among thousands paying respects to Queen Elizabeth II

International law firms

Any entrepreneur who wishes to set up a business in a foreign country would engage the services of a top international lawyer, one with hands-on experience in the target country who can offer the best advice on the many options. One of the important aspects of setting up a business in a foreign land is compliance, which is why you need the help of a leading international law firm. Click here to learn about embedded software and why businesses should use them.

Remote workers

There are a lot of digital nomads in Southeast Asia, while there are also some employees who work remotely and many decide to spend time in Southeast Asia and who can blame them? In the past few years, the number of expats setting up businesses in Vietnam, Thailand and Malaysia has been rising exponentially and this doesn’t look like changing anytime soon.

Online solutions

If you are looking to set up a business in Vietnam, Thailand or Malaysia, start by searching online for a leading international law firm and see what they have to say.

Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories