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…
The Inheritance Tax Act B.E. 2558 (2015) (“ITA”) took effect on 1st of February 2016. It stipulates the following: 1. Inheritance Tax a. Tax Base The inheritance tax base shall be calculated from the inheritance, which an inheritor received from each testator, whether it is received once or several times, above 100 Million THB. (Section…
Residential properties which are rented out as daily accommodations for tourists are under intense scrutiny these days in Thailand, in particular with regards to the requirement to obtain a hotel license. The main reason is clearly the high increase of rentals through online portals such as Airbnb. This is Part I of a blog contribution…
We are proud to announce that FRANK Legal & Tax Ltd. sponsored the German Help Association event at the Fest der Deutschen which was held on 11th March 2017, Ballroom at Plaza Athenee Hotel. German Help is an association that primarily assists German nationals who encounter problems while staying in Thailand. The Association also offers…
Fabian Doppler of FRANK Legal & Tax and Dr. Wilfried Herrmann from Human Development Forum Foundation (HDFF) spoke about Anti-Corruption for the Standing Committee on Administration of State Affairs of the National Legislative Assembly of the Kingdom of Thailand at the Parliament House of Thailand. The topic of the presentation which took place on 10…
The Thai Board of Investment (BOI) has introduced its new policy for incentives for qualified investment projects. Under the new policy, following tax and non-tax incentives may be granted to successful applicants: Exemption of corporate income tax for up to 15 years Exemption of import duties: on machinery raw or essential materials imported for use…
Under the Royal Decree No. 604 of 2016 (B.E. 2559), tax benefits were given to companies or partnership’s expenses of domestic investment. On 24th January 2017, the cabinet approved a one year extension of this tax measure, that is for the period from 1st January 2017 until 21st December 2017. It should be noted that…
FRANK Legal & Tax’s first MeetUp on Establishing a Company in Thailand was held successfully on February 10th, 2017 at the company office in Athenee Tower, Bangkok. We plan for the forum to take place once a month, covering a range of subjects related to corporations in Thailand. The next event “Company Formation In Thailand” will take place on March 9th…
The Thailand Board of Investment (BOI) is an agency of the Government of Thailand to promote investment in Thailand. It provides investment information and services for investors, as well as many incentives. E-commerce is one of the business categories that are promoted by the BOI. In case a foreign company would like to conduct e-commerce…
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