As the Thai Baht is under pressure due to imbalanced capital flows, thus unusually strong in comparison to foreign currencies, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to loosen rules to facilitate capital outflows. MOF and BOT expect these measures will lessen pressure on the Thai Baht. These regulations are…
Starting a Business in Thailand is easier when you have the status of being promoted by the Board of Investment (BOI). Business owners may apply for investment promotion from the BOI if the nature of their business falls under one of the promoted activities. If a business is eligible for BOI promotion, they would be…
When importing a boat from oversea to Thailand – even if it is solely for personal use and not for running a business – it is necessary to register the boat at the Marine Department in charge. Which department is in charge is determined by the mooring of the boat. To complete the registration process,…
After Thailand’s Personal Data Protection Act B.E. 2562 (2019) (PDPA) was passed into law, numerous provisions related to the collection, use, and disclosure of personal data will come into effect on May 27th, 2020. This includes strict requirements for every natural or juristic person who has the power to decide about the collection, use, or…
As many foundations operate schools, or orphanages the possibility to own land is one of the key questions for them. Under certain circumstances, a foundation may own property in Thailand. However, if a foundation has objectives that focus particularly or mainly on the benefit of foreigners, it may be deemed to be a foreign entity…
The Thai Foreign Business Act (“FBA”), A.D. 1999, prohibits foreigners from engaging in certain business sectors, including most of service businesses, without a Foreign Business License (“FBL”) or Foreign Business Certificate (“FBC”). However, the FBC will be granted swiftly for Americans, in most business areas, because of the US-Thai Amity Treaty of 1966, which gives…
1. TM30 FORM The TM30 form is an obligation for any house owner, possessor of a dwelling place or a hotel manager (“Hosts”) to declare a foreigner residing on his property (“Guest”) within 24 hours. This notification of residence, resulting from Section 38 of the Immigration Act (2522 B.E-1979) is now strictly imposed. According to…
The Thai Land Code stipulates that – apart from a few exemptions – foreigners are not permitted to own land in Thailand. Many foreigners seeking to buy immovable property in Thailand, therefore, chose legal structures like leasehold, usufruct, or ownership of the property by a Thai company, to mitigate the restrictions. However, these legal structures…
In 2015, the Court of Appeal for Specialized Cases was authorized by the Establishment of the Court of Appeal for Specialized Cases Act B.E. 2558 to try and decide cases appealed from specialized courts. The adjudication process involves a forum of judges with specific knowledge and expertise in each area and will create uniformity in…
In previous posts, we have elaborated on the importance of preparing a will if you live in or own assets in Thailand. One of the essential parts of such a will is the appointment of an administrator of the estate who has to manage all matters regarding the estate. The administrator can be appointed by…
Thailand’s hotel industry is one of the major economic sectors in the Kingdom, with more than 38 Million Tourists visiting Thailand in 2019. But still, a vast number of these accommodations is operated without licenses, or in violation of the law. Temporary suspension On June 12th, 2019, Order No. 6/2562 was issued by the National…
With the ministerial regulation by the Ministry of Commerce of June 25th, 2019, the following services provided by foreign-owned companies, to affiliated companies, are excluded from the obligation to obtain a Foreign Business License according to Schedule Three (21) of the Foreign Business Act. Lending money to affiliated companies in Thailand; Renting out office space…
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