Foreigners in Thailand have the possibility to register a usufruct related to a land plot or other real property. 1. Characteristics A usufruct provides limited property rights and is a legal right to the use and enjoyment of immovable property, including commercial benefits of property belonging to another person, according to the CCC section 1417….
The US-Thai Amity Treaty of 1966 gives special rights and benefits to American citizens who wish to establish a business in Thailand. The treaty aims to provide significant advantages for US investors to run businesses in Thailand for both corporations and individuals. The FBL, which is usually difficult to obtain, will be granted swiftly for…
From November 13th 2015 onwards the new tourist visa will be available. The new regulation allows tourists a six months visa. Tourists are granted multiple entries during this six months period, for up to 60 days per stay. Currently travelers can obtain only three re-entry permits with a tourist visa. But this new visa type…
Following the examples of many countries in the world, Thai legislators have now passed a new law introducing inheritance tax in Thailand. The new Inheritance Tax Act B.E. 2558 (2015) (“ITA”) was published in the Royal Gazette on 5th of August 2015 and will take effect on 1st of February 2016. Please see the following…
A copyright grants the creator of a work (literary, artistic, musical, or other creative work) the sole right to use the work however he wants. That means that a copyright owner has control over the reproduction of his work, including control as to which person can or cannot use the work. In 2015, several amendments…
With the objective of supporting the Thai economy, since the 1980s, the Thai government has promoted the establishment of businesses in so-called „“Industrial Estates“, which are state-managed industrial parks. Foreign investors are offered various incentives for choosing such location for their business. There are about 36 Industrial Estates in Thailand. The legal basis for these…
In certain cases, business requires to second foreign staff to Thailand on a short-term or urgent basis. They may then apply for a temporary work permit to perform urgent and necessary duties. The application for this kind of work permit should be finished within a period of 15 days. A work related to administration, academic…
It is essential for a company to have a bank account to facilitate their financial transactions and for the safety of their money. But sometimes it can be difficult to open an account in a local Thai Bank. The company is a juristic person, and there are specific additional requirements for opening a bank account…
The Royal Thai Police has issued Royal Thai Police’s order No.327/2557 dated 30th June 2014, which took effect on 29th August 2014. Since then, a standing administrative practice has been established, which we would like to summarize in this article: According to a more recent internal regulation, the immigration officer may allow a cancellation…
According to media reports, the Finance Minister Mr. Sommai Phasee stated that the new inheritance and gift tax is expected to be submitted for the cabinet’s approval on this November 2014 and should be enforced in the year 2015. Please see his following information below: The draft will stipulate a minimum rate of 10% to…
Plans to reform Thailand’s tax system, including the introduction of inheritance and property taxes, have been approved by the Chief of the military-led National Council for Peace and Order (NCPO), Gen.Prayuth Chan-ocha. The proposed reforms would raise revenue by increasing taxes primarily on the wealthy. Thailand’s Ministry of Finance (MOF) has said Chan-ocha wants the…
It is a rather unknown fact among foreign property purchasers, in particular in tourist resort destinations in southern Thailand, that Thai property law sets forth a strict regime for development of real estate projects. One significant piece of legislation in this context is the Land Development Act, B.E. 2543 (2000) (hereinafter referred to as “LDA”)….
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