Category: Business in Thailand

Board of Investment Recommends New Investment Package

The Office of the Board of Investment is a government agency under the Office of the Prime Minister. Its core roles and responsibilities are to promote valuable investment, both investments into Thailand and Thai overseas investment. The Board of Investment (BOI) likewise aims to achieve sustainable growth in accordance with the sufficiency economy policy. In […]

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Restrictions on Unfair Trade Practices in Franchise Businesses

Commissioner Santichai Santawanpas of the Office of Trade Competition Commission or OTCC announced last month that new guidelines on unfair trade practices of franchise businesses would be enforced starting February 4, 2020. He said that the change aims at ensuring good governance, establishing business practice standards, and protecting small-scale franchise holders from bigger ones. At […]

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Bank of Thailand Announces Relaxation of Foreign Trading and Exchange Regulations

The Bank of Thailand (BOT) Act, B.E. 2485 sets out the objectives, the scope of working and organization structure of the Bank of Thailand in accordance with the international central banking standard in order to maintain the financial system, the financial institution system and the payment system stability and efficiency through transparency and accountable procedure. […]

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Legal Protection of Online Banking in Thailand

The ways of the world have gone digital since the invention and phenomenal evolution of information technology. Doing business has easily been one of these ways and the ease, economy, competitiveness, and speed of digital operations have led industries, including banking, to use the internet or go online. Thailand is among those, which have kept […]

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Section 10 of the Foreign Business Act

Foreigners who operate a 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 […]

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Withholding Tax for Sale of Property with Co-Owners

According to Thai Revenue Department regulations1, when the 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 […]

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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 the business, it nevertheless does allow majority foreign ownership of the business and foreign entrepreneurs to engage in […]

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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, […]

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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. […]

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Foreign Business Act: Consignment Sales in Thailand

The Foreign Business Act of 1999 is the fundamental law in Thailand that serves to restrict foreign investment and foreign business activity within the country. The Act designates specific industries or types of business activities in which foreigners are either strictly prohibited from engaging in or may only engage in after applying for permission. It […]

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