News

21
Feb
2019

Thailand’s International Business Center Incentives

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 offered investment promotions for international headquarters (IHQ) and international trading centers (ITC). These have been replaced by the international business center (IBC). The differences between IHQ/ITC and IBC are as follows:

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06
Feb
2019

Reasons for a gift agreement

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.

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23
Jan
2019

Litigation law in Thailand

Litigation under Thailand contract law, it is usually 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 to lose the process. However, sometimes litigation is the only way for a party to obtain relief. Therefore, it is good to know, that the Thai justice system is generally accessible and unbiased. Also, the time it takes for a judgement is reasonably fast.

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16
Jan
2019

Legalization of Cannabis in Thailand

Before its ban in 1934, cannabis was an essential part of the rural culture in Thailand. It was used as medicine, as fiber for clothing and even as a traditional spice for the Thai boat noodle soup. Under the Marijuana Act, B.E. 2477, released in 1934, the possession, usage and sale of cannabis was criminalized and punished. Although the climatic conditions to produce cannabis in Thailand are excellent and the value of the plant for agriculture is immense, Thailand followed the anti-drug course; as one of the original signatories of the International Opium Convention of 1912 (Den Hague) Thailand announced in 1976 the Narcotics Control Act, B.E. 2519 and its amendments in 1985 (Narcotics Act No. 2) and 1987 (Narcotics Act No. 3)

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28
Dec
2018

Thailand’s SMART Visa Program

Thailand has introduced a new program to attract highly skilled experts and investors. This program shall target several industries and enhance the scientific and technological sector. SMART Visa and its privileges will help to recruit various talents, senior executives, entrepreneurs and investors for the country’s development in the fields of next-generation automotive, smart electronics, medical and wellness tourism, agriculture and biotechnology, future food technologies, automation and robotics, aviation and logistics, biofuels and biochemicals, digitization and health technologies.

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21
Dec
2018

Work Permit Extension under the Emergency Decree on Foreign Employment Management B.E. 2560

On the 10th of May 2018, the Department of Employment (DoE) has published a letter to address the scope of the Work Permit under the Emergency Decree on Foreign Employee Management B.E. 2561 (the “Decree 2018”). It especially elucidated the question whether a foreigner who has been granted a Work Permit once is able to work in another type of work, for another employer, at another workplace or work condition in Thailand.

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12
Dec
2018

New Land and Building Legislation in 2020

After an extensive legislative process, the National Legislative Assembly (NLA) has recently passed the new Land and Building Act (the “Act) comprising 94 Sections and introducing a new system on property taxation. With its announcement in the Royal Gazette, the Act will replace the old and outdated Land and House Tax Act B.E. 2475 (1932).

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26
Nov
2018

Mercedes-Benz Investment – 100 Million Euros for Battery Production in Thailand

Together with their local partner Thonburi Automotive Assembly Plant Co. Ltd. (“TAAP”), Mercedes-Benz Cars is going to invest over 100 Million Euros in the existing car plant and a new battery production factory in Thailand. The investment shall extend the existing car plant and increase the production portfolio by adding new models. The new battery factory will be established close to the car plant of Mercedes Benz, expand over 48.000 sqm. This project shall be realized until 2020; the production of the batteries shall start in 2019, according to Managing Director of TAAP, Veerachai Chaochankij.

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