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E-Commerce in Thailand

Published: 26 July 2022

The  Thai  government’s efforts  to  promote the  expansion  of  information  and  communications  technology have  resulted  in  good  access to  the  Internet for  a  large  part  of  the  population. As  a  result, opportunities  to  participate in  e-commerce  have  developed.  Thailand's E-commerce  market  value  is  predicted to  reach  a  total  volume of  USD  113.45 billion  by  2021,  a  45.3%  increase  compared to  2017.  In  Southeast  Asia,  Thailand  held  the  top  spot  for  the  market value  of  the  business-to-consumer  (B2C)  e-commerce  sector which  is  worth  more  than  USD  27.7  billion  by  2021.  With  this  background, e-commerce  has  become an  interesting  opportunity for  many  foreign investors. 

One  way  for  a  foreign  investor to  hold  100%  of  the  shares  in  a  company in  Thailand  is  through  the  investment  promotion of  the  Board  of  Investment (“BOI”).  The  BOI  offers  various investment  incentives  for  certain  business sectors  which  the  government  considers to  be  beneficial for  the  development of  the  Thai  economy.  These  include  investments to  activities  relevant to  the  development  of  software,  digital platforms,  or  digital content,  whether  in  the  context of  “E-Commerce”  or  other  digital services.

The  BOI  incentives provide  tax  incentives (corporate income  tax  exemption for  8  years)  as  well  as  various non-tax  incentives  (100%  foreign  ownership, possibility  to  acquire land;  easier  obtaining of  visas  and  work  permits for  expats).

For  further  information about  the  investment opportunities  for  e-commerce businesses  in  Thailand, please  see  our  newsletter  here.

Till Morstadt
Lorenz & Partners Co., Ltd.
Practice Area:
Foreign Direct Investments
Phone Number:
+66 (2) 2871882
+66 (2) 2871871
Till Morstadt (born 1968 in Offenburg) studied Law and Business Economics in Bayreuth, Lausanne and Münster. After graduating, he started working for KPMG. During this time, he advised European clients, first in Germany, later in Argentina. Upon his return to Germany, he moved into the industrial sector. After two years in the head office of Herrenknecht AG, a German machine manufacturer, he took over the commercial management of their Thai subsidiary. Till Morstadt has been an equity partner of Lorenz & Partners since April 2004. Till Morstadt publishes articles and holds seminars on investment, tax and law related issues in Thailand and Southeast Asia on a regular basis. Lorenz & Partners List of Brochures & Newsletters Notable Newsletters from the above list: BOI Promotion: Trade and Investment Support Office (TISO) Investment Promotion for International Business Centers (IBC) Transfer Pricing in Thailand How to set up a Company in Thailand Taxation of Expatriates in Thailand

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