Thailand’s strategic location in Southeast Asia, growing economy and entrepreneurial spirit make it a top choice for foreigners looking to launch a business abroad. From tech startups in Bangkok to wellness retreats in Chiang Mai or eco-tourism projects in the islands, Thailand offers a dynamic landscape for innovation and growth.
If you’re planning to stay in Thailand long term, especially under the Long-Term Resident (LTR) Visa, having valid health insurance is a legal requirement. You should get an Insurance for Long-Term Resident, because LTR visa applicants must show proof of coverage for at least USD 50,000 in medical expenses. With Mondassur, you can secure a compliant, comprehensive policy and enjoy peace of mind while living and working in Thailand.
Why Thailand is a top destination for foreign entrepreneurs
With over 70 million inhabitants and access to key ASEAN markets, Thailand is a hub for regional trade and a magnet for international entrepreneurs. The government actively promotes foreign investment through programs such as the Board of Investment (BOI), offering tax breaks and simplified visa processes for approved sectors.
Fun fact: Bangkok is one of the world’s most visited cities and a rising star in Asia’s tech startup scene sometimes referred to as “the Silicon Valley of Southeast Asia.”
Thailand’s skilled, affordable workforce, growing digital infrastructure and improving ease of doing business make it a highly competitive destination.
Business law in Thailand: Can foreigners start or own a business?
Foreigners can legally start and own businesses in Thailand, though some sectors are restricted. The Foreign Business Act limits foreign ownership in certain activities unless a business is promoted by the BOI.
Main business setup options:
- Thai Limited Company: The most common structure. Requires at least three shareholders and typically majority Thai ownership.
- BOI-Promoted Company: Allows for up to 100% foreign ownership in targeted industries, along with tax and visa incentives.
- Branch Office / Representative Office: Suitable for expanding existing foreign companies.
Thailand work visa requirements for expats and business owners
To legally operate a business in Thailand, you’ll need a Non-Immigrant “B” Visa and a valid work permit. As part of the application, proof of health insurance coverage is often required, especially if you’re applying for a long-stay visa or BOI-sponsored permits.
That’s where Mondassur comes in we provide tailored international health insurance plans that meet Thai immigration requirements. Whether you’re staying short-term or settling long-term, we can help you secure the coverage you need to obtain your visa and protect your health while abroad.
Our Gold Expat international expatriate insurance plan is especially well-suited for entrepreneurs and expats in Thailand. It offers:
- Coverage for medical expenses in Thailand and abroad
- Access to private hospitals and clinics
- Repatriation and emergency evacuation coverage
- Hospitalization, surgery, and specialist consultations
- Optional dental, vision and maternity add-ons
- 24/7 multilingual support and online claims service
- Plans compliant with Thai visa requirements
Discover the Gold Expat plan and get a personalized quote today.
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Top tips for foreigners starting a business in Thailand
Understand Thai business culture
Thailand values hierarchy, harmony and respect. Business interactions are often polite and formal.
- Titles and first names are commonly used.
- Avoid confrontation or direct criticism: “saving face” is key.
- Patience is important: decisions can take time and indirect communication is the norm.
Prepare for Thai bureaucracy
Business registration, licensing and obtaining work permits can be time-consuming. Each process may involve multiple agencies and official translations.
Recommendation: Partner with a local legal advisor or accountant experienced with expat businesses in Thailand. They can help:
- Register your company
- Manage BOI applications
- Handle labor, tax, and social security filings
Bonus tip: Having a compliant health insurance policy can also simplify interactions with immigration and labor authorities.
Choose the right location
Thailand offers various ecosystems depending on your business sector:
- Bangkok: The commercial and tech hub
- Chiang Mai: Creative industries, digital nomads, wellness
- Phuket / Koh Samui: Tourism, hospitality, health & wellness
- Eastern Economic Corridor (EEC): High-tech and manufacturing
Location matters, consider infrastructure, talent, cost of living, and target customers.
Connect with startup and business communities
Thailand offers a dynamic environment for entrepreneurs, with a growing number of resources designed to support startups and small businesses. Expanding your professional network can be key to understanding the local market, finding business partners and navigating regulatory challenges.
Look for opportunities to:
- Attend entrepreneurship workshops and industry events
- Join local and international chambers of commerce
- Participate in co-working communities and startup hubs
- Explore government-led initiatives for foreign investors
Getting involved in these communities can provide valuable insights, local knowledge and access to practical tools and contacts that support your business journey in Thailand.
Corporate health insurance plans for expats and international teams in Thailand
As your business grows, so do your responsibilities. Whether your business is just you in your garage, or a growing team, Mondassur has solutions for every stage of your entrepreneurial journey. If you’re planning to hire international staff, relocate employees or expand across borders, Mondassur also offers corporate health insurance solutions***link to corporate article*** tailored to startups and SMEs.
Our employee benefits plans include:
- Comprehensive group medical coverage
- Support for multinational teams
- Flexible solutions adapted to your budget and team size
- HR assistance and multilingual support
A solid health insurance plan not only protects your team — it also helps you attract and retain top talent in a competitive market.
Stay covered in Thailand with Mondassur
Starting a business in a new country is exciting, but preparation is key and that includes protecting your health. Whether you’re relocating alone, with your family or building an international team, Mondassur’s international health insurance plans are here to support you every step of the way.
We offer:
- Visa-compliant coverage for Thailand
- Plans for individuals, families, entrepreneurs and companies
- Fast online enrollment and responsive support in English, French and other languages
