Tips on Buying Condominium Units in Thailand
Initially try and find a condominium unit(s) on your own based on the place/location/style that suits your needs and meets your taste within a budget that you are comfortable with. If you cannot find anywhere that suits you, contact a few property agents to help show you more properties from different developers either off-plan or […]
Recognition of Foreign Divorce for UK Citizens
In April 1988, the United Kingdom introduced amendments to its Family Law on the recognition of divorces granted to its citizens by foreign jurisdictions such as divorces granted in Thailand. The amendments set standards for the recognition of divorces obtained by means of proceedings, as well as those obtained by means other than by means […]
BOI and the Foreign Business Act
Foreign-owned companies that are registered in Thailand are eligible for promotion under the Board of Investment (BOI). Furthermore, once BOI promotion has been granted, the promoted company may apply for a “Foreign Business Certificate” under Section 12, which allows majority foreign ownership specifically for companies promoted under the BOI. Nevertheless, the Foreign Business Certificate only […]
Testate Succession Under Thai Law
Succession is a mode of acquisition by virtue of which the properties, including its rights and obligations, of a person are transmitted upon his death to his heirs, devisees and legatees. In Thailand, succession may either be testate or intestate. Testate succession occurs when a person dies with a Thai will naming his heirs as […]
Section 10 of the Foreign Business Act
Foreigners who operate business in Thailand under a treaty to which Thailand is bound, such as Americans who open a company under the Thai-U.S. Treaty of Amity have their rights to operate business confirmed under Section 10 paragraph two of the Foreign Business Act of 1999 which states as follows: “Foreigners operating businesses specified in […]
Withholding Tax for Sale of Property with Co-Owners
According to Thai Revenue Department regulations1, when immovable property, such as land, with co-owners is sold, then payment of withholding tax when the transaction is registered at the Land Office shall apply as if the co-owners are engaged in an ordinary partnership according to Section 1012 of the Civil and Commercial Code2; in other words, […]
Operating as a Foreign Business in Thailand: Pros and Cons
When doing business in Thailand, one has the option of operating in a joint-venture with majority Thai ownership or as majority or solely foreign-owned firm. Although Thai law is restrictive of how foreigners are able to operate business, it nevertheless does allow majority foreign ownership of business and foreign entrepreneurs to engage in business in […]
Capitalization for Foreign Business in Thailand
The Foreign Business Act of 1999 restricts and regulations foreign business activity in Thailand in order to protect Thai businesses and one of the ways it does so is through specifying rules regarding the capitalization of foreign businesses in Thailand. Notably, although retail is restricted under (14) of Annex 3 of the Foreign Business Act, […]
Foreign Business: Wholesale and Retail Minimum Capital Requirements
The Foreign Business Act of 1999 restricts both wholesale and retail businesses from foreign investment, with exceptions depending on the amount of minimum capital. However, the conditions under which a foreign business may engage in either is not exactly the same and furthermore the issue is complicated by other minimum capital requirements in the Act. […]
Drafting an Employment Contract in Thailand
When drafting an employment contract, it is imperative to retain the services of a trained legal professional, rather than resorting to a template, such as one found online. An important consideration is that employment contracts are ultimately abstract legal rules and the application of those rules in real-life situations may lead to certain results that […]
