When buying property in Thailand, in addition to paying the price of the property, one can also expect to pay other fees, duties, and taxes in order for the transfer of ownership to be complete. In our experience, for people who are unaware of these extra costs, it can mean the difference between deciding whether…
In this article we outline the requirements, application procedure, timeline, and official fees concerning the homestay license based on our experience. General Requirements The house owners’ purpose for operating a homestay should be to gain additional income and not be their primary income source. There must also be at least three houses willing to join…
Thai law provides a means of real security and an alternative to the mortgage, the so-called Sale with Right of Redemption (Thai: “Khai Fah”). It is governed by Sections 491 ff. of the Thai Civil and Commercial Code (“CCC”), and it involves a conditional transfer of ownership that can be redeemed under certain circumstances. Recently,…
As we offer various services to our clients, this series of articles intends to give you an overview on how FRANK Legal & Tax can assist you with your legal matters in Thailand. The advice we supply to clients on insolvency matters is designed to either avert insolvency or be used prior to imminent insolvency….
In this article, we provide a high-level overview of the taxes that could apply to foreign investors in Thailand based on our research. The Thailand Revenue Code is the main body of law that codifies procedures regarding tax assessment and the collection of the various taxes in Thailand. Taxes are mostly collected under a self-assessment…
As we offer various services to our clients, this series of articles intends to give you an overview on how FRANK Legal & Tax can assist you with your legal matters in Thailand. This contribution will provide you with an overview of our litigation services. Our commercial litigation specialists aspire to be among Thailand’s finest…
In times of economic uncertainty and growing loss of confidence in fiat currencies, cryptocurrencies like Bitcoin or Ethereum are among the most discussed alternatives to established currencies. This article intends to provide a brief overview of legal regulations and tax implications of cryptocurrencies in Thailand. General Situation with regards to cryptocurrencies in Thailand: According to…
In the line with our ongoing strategy to extend our connection with Thailand’s business community. It is our great pleasure to announce that FRANK Legal & Tax is now a member of the SwissThai Chamber of Commerce (STCC). The SwissThai Chamber of Commerce (STCC) was founded on 13th October 1998 by a group of visionary…
Dissolution is the process of de-registering a company from the company registry at the Department of Business Development (“DBD”). When considering the life cycle of a business operation, the voluntary dissolution by the shareholders appears to be the usual way to end the company’s operations. There are several circumstances that will lead companies to the…
Liquidation is the process of extracting a company’s assets and using the liquidated assets to pay off any remaining debts. A dissolved company is required to conduct a formal liquidation process according to the Thai Civil and Commercial Code (“CCC”). For a bankrupt company, the liquidation shall be done in accordance with the provisions of…
Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts, while reorganization is a process where a company establishes and implements a plan to organize its debts, capital, fundraising as well as management and exploitation of the company’s property. The proceedings for both of these procedures are…
After an extensive legislative process, the National Legislative Assembly (NLA) has recently passed the new Land and Building Act (the “Act) comprising 94 Sections and introducing a new system on property taxation. With its announcement in the Royal Gazette, the Act will replace the old and outdated Land and House Tax Act B.E. 2475 (1932)….
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