Thailand is a country with many business opportunities for foreign investors; this includes the incorporation of partnerships and companies. There are two types of companies in Thailand, private limited companies and public limited companies. The main differences between the two is the governing law and the sale of shares. Private limited companies are governed by…
The Business Collateral Act B.E. 2558 (2015) (BCA) was enacted to provide additional means for creditors to secure primary obligations, such as amounts due under loan agreements. Collateral is a specified asset which serves as a security for the lender in the event the borrower defaults on the loan repayment. According to the BCA, there…
The Thailand Personal Data Protection Act (PDPA) is the latest piece of legislation which offers data protection regulations against the misuse of personal data that has been collected from individuals in Thailand. The PDPA was greatly influenced by the European Union’s General Data Protection Regulation (GDPR) which set a new standard for data protection regulations…
The Thai Labor Protection Act In Thailand, all employers, and employees, except for the government administration and state enterprises, are governed by the Thai Labor Protection Act of 1998 (“LPA”) (amended 2019). This act regulates the basic rights of both employees and employers by defining the working hours, welfare funding, holidays, sick leave, educational leave,…
The Royal Thai Government announced phase 2 of a number of additional financial measures focusing on individuals that are not registered with the social security system. The measures include helping informal workers without social security benefits, including temporary employees and freelancers, and businesses that have been affected by the outbreak of coronavirus. The following measures will…
In light of the Covid-19 virus crisis that is causing the current economic downturn which is affecting businesses across the kingdom, The Royal Thai Government recently approved Phase One of a broad range of financial and fiscal relief measures designed to help Thai companies, especially small and medium-sized enterprises (SMEs), alleviate the current business downturn….
The newly approved Transfer Pricing Act, which aims to regulate transfer pricing between Thai companies and affiliated companies and will be added as Section 71 Bis to the Thai Revenue Code, will have a big impact on companies in Thailand. For the accounting period of 1 January – 31 December 2019, the Transfer Pricing Act…
With regard to the recent Covid-19 outbreak, concerns have been raised regarding health issue in the workplace. As infections can happen very easily, there are certain measures that can be taken by the employer. There is a variety of measures available to address the situation. In the case of an intensifying threat, one of the…
Under the new Personal Data Protection Act of Thailand (“PDPA”), sending an email newsletter to your customers, employees or business partners will now be subject to legal compliance requirements. This article summarizes the key issues: Consent Requirement The distribution of a newsletter will from now on require consent from the recipients. There are three types…
A “Pink ID Card” is an ID Card that was initially issued to stateless people to restrict their movement within the Kingdom of Thailand. The Registration Act of 2008 allows them to be issued to anybody who qualifies. Process Overview: To apply for a Pink ID card, you need a Thai ID number, and you…
Directors in today’s global market are increasingly being held personally liable for their actions that harm their companies, as well as facing civil and criminal liabilities for failing to comply with the procedures and requirements of various laws. In Thailand, directors of private limited companies face the genuine possibility of criminal sanctions for violations of the Civil &…
On November 1st 2019, the Thai Ministry of Interior published two announcements regarding the fees for property registrations. One announcement is related to condominiums, the other announcement for land and buildings. According to the notifications, the registration fee for the transfer of ownership of a condominium, or a land and building at the Land Office…
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