International Business

[Jimjim]

In business, such as import/export, what is the norm in paying for services? I know some people that are setting up a business and I may agree to help them out. Initially it will just be in the U.S. but the services will be relevant worldwide in the tourism sector. They are quite good in American business but inexperienced in international business. Now is the research stage as regards the international part. I am just looking for some who may be experienced and any description of normal practice in Thailand and perhaps Hong Kong and China if you know. Please know this is is just one of many places where I am looking for some initial information before I go further.

For example, say a hotel buys the services of the American company. Just sticking to bank transfers at the moment, would getting a business account at a respectable U.S. bank like Bank of America be best? Would businesses in Thailand be able to trust sending funds to a U.S. bank account or would they need to set up a sub-account in Thailand and link it to the respected international bank in the U.S.? I know Bank of America has some sort of presence in Thailand but does it include business accounts?

At this point it doesn't make financial sense to incorporate and set up a business in Thailand linked to the American office. All the finances can be controlled from the U.S. and it will be incorporated there. So, am just wondering what experience and practice any may have in this area. I'm thinking of the cash in advance option as the cost will not be high and just wondering the ways cash payments are set up usually in practice.

[Jimjim]

Bump. Anybody? At least info on Bank of America in Thailand?

[Old Man River]

Bump. Anybody? At least info on Bank of America in Thailand?

I don't know what BofA does anymore in Thailand, as they changed everything here a few years ago. However, BofA US does have a very strong relationship with Bangkok Bank and transfers between these two banks has been discussed several times on TV. I would do a search on TV and check that out as a possibility.