The Board of Investment Thailand (BOI) agreed to promote investment incentive schemes for “Smart City” to improve living standards. Smart City is an initiative for advanced IT systems and innovations; the incentives shall contribute to the promoted city’s development in six fields and enhance the people’s quality of life, especially in more remote areas. Smart…
The BOI was established as a government agency under the office of the Prime Minister carrying out the Investment Promotion Act (B.E. 2520; 1977, as amended) to promote certain types of highly sought-after foreign and domestic investment in Thailand. Today, the BOI can guarantee different incentives to an investor. The BOI has discretionary authority to…
Amendments to Thailand’s Factory Act will greatly affect the entire industrial factory business throughout the country. On 30 April 2019, the Royal Thai Government Gazette declared an amendment to the Factory Act B.E. 2535 (1992) by The Factory Act (No. 2 and No. 3) B.E. 2562 (2019). Recently, The Factory Act (No. 3) passed the…
A new amendment for the Labor Law Protection Act has been announced in the Government Gazette on 5 April 2562 and the Act will come into force 30 days after its publication in the Gazette. The amendments introduce additional rights for employees, such as: Increase of statutory severance pay for an employee who has worked…
A newly enacted law, The Act for Exemption on Penalties, Surcharges, and Criminal Offenses and Support of Operations Under the Revenue Code BE 2562 (the “Tax Amnesty 2019”) will provide a good opportunity for a small and medium-sized enterprises (SMEs) that are subject to corporate income tax (CIT), provided that they are a company or…
With tourism playing a significant role in Thailand and increasing demand to diversify tourist entertainment offerings, amusement parks are booming. When setting up such a park, even if it is part of a mall or a hotel, many different areas of Thai law need to be taken into account. The most important regulations are detailed…
At the end of a life cycle of a private limited liability company in Thailand it is necessary to liquidate and dissolve the company by resolution of its shareholders. The procedure, has to follow the rules of the Sections 1247 – 1273 of the Civil and Commercial Code of Thailand (CCC). To proceed with the…
The Thai Government has taken a series of efforts in driving the economy through innovation and attracting highly skilled talents (Smart T), investors (Smart I), executives (Smart E) and startup entrepreneurs (Smart S) in its targeted industries – the so-called S-Curve industries – to Thailand. Therefore, the Smart Visa program was launched, which offers some…
Under the Thai Social Security Act, B.E. 2533 a company was required to register as an employer at the Social Security Office (SSO) within 30 days after the first employee has started to work for the company. This rule has now changed with the latest notice letter by the SSO which was sent to one…
Under the Foreign Business Act (“FBA”), foreigners are legally restricted in doing certain businesses in Thailand as prescribed in the lists Annexed to the FBA. Fortunately, there are various possibilities to obtain official permissions. And there are also government schemes available which provide for tax exemptions and tax reductions. Until now the Thai government authorities…
Valuable gifts such as condominium units, houses, and cars are not uncommon in Thailand, and most such gifts are made for specific reasons. The reasons for such gifts could not be more diverse, and personal disappointment might lead to great regret. Therefore, it is advisable for both parties, donors, and done, to think about protective…
Litigation is usually the last resort to solve a dispute or enforce a claim. Many parties of a dispute try to avoid a litigation process because they fear the court costs or lose the process. However, sometimes litigation is the only way for a party to obtain relief. Therefore, it is good to know that…
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