Thai business media have reported that sources in the Thai government leaked information stating that laws and regulations on land ownership for foreigners could be set to change, so foreigners would have the option to buy and own a detached house, including the land on which the house is built,
Trademarks are used to identify and protect a particular product or service. Companies often invest a significant amount of money in introducing and establishing a trademark. To protect this investment, based on our experience, it is essential to grant exclusive use to the investor. In general, there are two different ways to protect a trademark…
The enforcement date of the Personal Data Protection Act (PDPA), 1 June 2021, is postponed by another year. On 5 May 2021, the Thai Cabinet has approved a resolution to postpone the enforcement of the Personal Data Protection At (PDPA) for one more year. Although the new effective date is not formally announced yet, the…
On 10 April 2021, Thailand made significant changes to the statutory interest rate framework for the first time as the interest rates specified in the Civil and Commercial Code (“CCC”) have been enforced for almost a decade. The trigger for the change in the interest rate was due to Covid-19’s recent impact on the Thai…
By definition, the liability of shareholders in a “limited liability company” is limited. However, in many countries case law has evolved that “pierces the corporate veil”. In this contribution, we will analyze whether the principle is upheld strictly in Thailand based on our experience, or whether there are significant exemptions. Under Thai law, there are…
Negotiations of business acquisitions are often complicated and drawn out. After successful contract negotiations, the parties are usually keen to complete the business purchase quickly. However, due to the complexity of such transactions, it is common practice that the actual economic transition takes place with a significant delay after the date of the signing of…
Due to the recent second outbreak of COVID-19 in Thailand, the Thai government then restricted some businesses from operating, which results in an increase in unemployment or reduced income for most people. As a method to ease the burden, the Ministry of Labor published a new regulation on 30 December 2020 under the Social Security…
When buying property in Thailand, in addition to paying the price of the property, one can also expect to pay other fees, duties, and taxes in order for the transfer of ownership to be complete. In our experience, for people who are unaware of these extra costs, it can mean the difference between deciding whether…
In this article we outline the requirements, application procedure, timeline, and official fees concerning the homestay license based on our experience. General Requirements The house owners’ purpose for operating a homestay should be to gain additional income and not be their primary income source. There must also be at least three houses willing to join…
Thai law provides a means of real security and an alternative to the mortgage, the so-called Sale with Right of Redemption (Thai: “Khai Fah”). It is governed by Sections 491 ff. of the Thai Civil and Commercial Code (“CCC”), and it involves a conditional transfer of ownership that can be redeemed under certain circumstances. Recently,…
In this article, we provide a high-level overview of the taxes that could apply to foreign investors in Thailand based on our research. The Thailand Revenue Code is the main body of law that codifies procedures regarding tax assessment and the collection of the various taxes in Thailand. Taxes are mostly collected under a self-assessment…
In times of economic uncertainty and growing loss of confidence in fiat currencies, cryptocurrencies like Bitcoin or Ethereum are among the most discussed alternatives to established currencies. This article intends to provide a brief overview of legal regulations and tax implications of cryptocurrencies in Thailand. General Situation with regards to cryptocurrencies in Thailand: According to…
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