The former process of business registration was considered as complex and unclear. The new regulation enhances the system and brings benefits to the applicant. It helps to save costs and strengthen the competitiveness. The additional possibility of e-Registration provides savings up to 30%, it saves time and is an easy method to register the new…
Effective since May 25th the new law on Data Protection “GDPR” improves consumer rights. But whom does it affect, what are the effects and how to comply with the new regulation? GDPR was already approved in April 2016 by the EU Parliament after an extended period of preparation. It replaces the Data Protection Directive 95/46/EC…
We are delighted to have been featured in the well-respected professional blog Thailand Starter Kit (ExpatDen), in their recommended lawyers section. The two guides FRANK Legal & Tax are featured in highlight how to select a first-class lawyer in both Bangkok and Phuket. Thailand Starter Kit was created with the intention to share know-how and…
The wages council agreed to set a new minimum wage, which came into effect from April 1, 2018. The wage adjustment in 2018 is divided into 7 levels as follows; Mr. Chakkarin, Permanent Secretary of Ministry of Labour, also made three additional proposals as follows; Businesses with more than 50 employees must…
In Q4 2017, the Bangkok condominium market grew steadily, particularly in the downtown area of the city. The number of new properties launched in 2017 overall also grew year on year by, with a 51% increase compared to 2016. Bangkok’s condominium market is likely to continue to grow in the future, given the many new…
What exactly are “annual accounts”? What information must they contain? Are there rules for the preparation of annual accounts? These and similar questions are often asked by companies, especially when they are new to the market. With annual accounts, also referred to as the annual financial statements, the bookkeeping closes the respective business year. The…
Due Diligence refers to the careful, systematic, and detailed collection, review, and analysis of data of an investment, acquisition, or merger candidate or the disclosure of the data by the target object. Due diligence may be conducted by the buyer and/or the seller of the company or the stake. In addition to enabling the purchase…
The Cabinet of Thailand has now approved the new ‘SMART Visa’ which was made available on Feb 1, 2018. The Cabinet approved the ‘SMART Visa’ which aims to attract foreign experts to work or invest in 10 target industries of Thailand (S-Curve). The launch of the new visa is expected to accelerate the development of…
The below tax deduction list will aid you in submitting your 2017 personal income tax (PND90, 91). The submission window is open from 1 January 2018 – 31 March 2018. We recommend our clients that preparations should be made in a timely fashion and the filings should be submitted by the end of next month….
SMEs To increase competitiveness including the extension of the promotional period for SMEs of the scheme to 30 December 2019, there will be up to 100 business activities and relaxed requirements and conditions. The BOI made the decision to offer more attractive incentives. For example, SMEs operating any activities that improve competitiveness including research and…
In the context of foreclosure, a creditor can use various methods to enforce his entitlements. When deciding on one of the foreclosure measures, the specifics of the case should be carefully considered to be most effective. Please see below an overview of the available methods of foreclosure: 1. Principles of foreclosure The basic conditions for…
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. If two previously independent companies form a new company, or if they decide that one partner will invest in the other, then a so-called “equity joint venture” is…
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