Before Thailand jumped into the 4.0 era, there was Thailand 1.0 which was based on the agriculture sector, Thailand 2.0 focused on light industry and then came the heavy industry of Thailand 3.0 which caught the nation in a medium income trap, with growing income inequality and imbalanced development. Now, the government is planning a…
Since 15th June 2016, it is possible for foreigners to obtain a visa (extension of stay) and work permit in Thailand for a period of two years, under the Board of Investment (BOI) or the Industrial Estate Authorized Thailand (IEAT) schemes. In specific cases, a period of even four years may be granted. 1. Two-year…
A company stamp or company seal is the official seal used by a company. Company seals are not used in every country, but they are predominant in certain common law jurisdictions and in many jurisdictions of Asia. In Thailand, a company seal is used by practically every registered company. Affixing the seal has a specific…
The Revenue Department issued a draft bill which would, if enacted, levy withholding tax for online trading of goods and service as well as money-transfer service. The law is intended to take effect within the current military-led regime’s tenure. Currently, e-commerce operators that sell goods and service by an online system are required to pay…
FRANK Legal & Tax is pleased to announce that our next event, themed ‘Setting up a Business in Thailand’, will be on Thursday July 27 at 6:30pm @ the Hive, Soi Sukhumvit 49. The Group aims to to create a forum for entrepreneurs and business start-ups where information can be obtained and ideas can be…
In real estate acquisitions, in particular when it comes to new buildings, an important part of the process is managing issues related to construction defects. Such defects may range from small snags to major problems. From the legal point of view, the responsibility for the rectification of the defects stands in the foreground. The defects…
Work Permit Requirements As in any other country in the world, foreigners require a governmental permission prior to working in Thailand. In this article, we will explain the administrative process related to the application for a work permit. Individuals applying for Thai work permits must qualify under the Thai law. The applicant must have the…
The “Land of Smiles” is an attractive destination for both tourists seeking fun and professionals seeking opportunities. However, the Kingdom of Thailand has many regulations concerning travel and residence in the country. Foreign nationals must obtain visas if they wish to enter the Kingdom. Thailand is also a party to many bi-lateral agreements which allow…
Many foreigners aspire the purchase of a condominium unit in Thailand, for either residential or investment purposes. 1. Foreign Ownership Foreigners are allowed to buy and own a condominium unit in Thailand. However, only condominiums registered under pertinent laws and licensed with the Thai Land Department offer full individual ownership (with a government-issued unit ownership…
Preparing a Thai will is, for various reasons, highly recommended for foreigners residing in Thailand, in particular, property owners. In many cases, a so-called joint will is a particularly useful legal structure. Through a joint will, a married couple, typically stipulates that in the event of the passing of one of the spouses, the statutory…
The Board of Investment (BOI) was established pursuant to the Investment Promotion Act (B.E. 2520; 1977, as amended) for purposes of promoting certain foreign and domestic investment that are seen as welcome in Thailand. BOI Policies The Board of Investment has set investment promotion policies as follows: Promote investment that helps enhance national competitiveness by…
This is Part II of a blog contribution that discusses the requirements for obtaining a permission to run a hotel under Thai laws and regulations:This is Part II of a blog contribution that discusses the requirements for obtaining a permission to run a hotel under Thai laws and regulations: 3. The Applicant for the Hotel…
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