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Unless you’re a pensioner or independently wealthy, chances are good you will have to earn a living as an expat in Phuket. Some common opportunities include teaching at a public or international school, working for a company in Phuket, or working remotely for a company located abroad. However, there have always been those who bring their entrepreneurial spirit with them and try their hand at running a business in Phuket. 

Cons

Let’s get the bad news out of the way first. While each industry has its own challenges, there are generalities we can discuss. One of the first hurdles to overcome is the cumbersome and inefficient bureaucratic process. To start a company you will have to hire an agent to help. Immense amounts of paperwork and documentation are required. To obtain a business visa and work permit you may have to leave the country and apply for the visa from a Thai embassy elsewhere. The paperwork never ends and some steps of the process seem to have no real purpose – it requires patience. 

Staying up to date on the company requires an accountant to file tax information to the revenue department monthly along with a yearly financial report. For smaller businesses, these expenses can be challenging, especially while working to establish your business. 

Another ongoing difficulty that many businesses struggle with is finding good staff. If a good manager can be hired who speaks proficient English, is trustworthy and reliable, and can liaise between you and the staff, consider yourself lucky. 

Pros

For those who remain steadfast in their desire to run a successful business, it can be very rewarding. One reassuring aspect is that the business will likely benefit the community. In most situations, a company must have four Thai employees for each work permit issued so your business will provide jobs. It will also contribute to the local economy with these jobs as well as in the form of taxes. 

Another pro is that your business will be operating in an economy that is currently healthy and growing. The tourism industry is strong and the population of Phuket has been increasing for years which bodes well for economic success. Many infrastructure improvements are in the works which should bolster the island’s desirability in many ways. Phuket also enjoys a central location in Southeast Asia which is convenient for importing or exporting. Combined with the island’s already decent infrastructure, it makes supply chains and the availability of raw goods and materials easy to access. Phuket has a deep sea port and shipping throughout the country is both affordable and efficient.

Then of course there is the fact you will be working to build your own company instead of someone else’s. While this will take some hard work and grit, if you make smart decisions and show determination, you can create something of real value for yourself. Depending on what industry your business operates in, you will likely have to put in some additional effort and learn many new things along the way, but with a bit of luck, you will one day enjoy the fruits of your labors.