Introduction to the Technology Transfer Plan

Foreign investors in Thailand, who will be investing a majority of the capital in a business venture, have the option of applying for a Foreign Business License if the intended business is restricted under the Foreign Business Act of 1999. However, in order for the application to be approved, an important requirement is that the […]

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Thai-U.S. Treaty of Amity Frequently Asked Questions

The purpose of this article is to address a few questions that are frequently raised by clients regarding the Thai-U.S. Treaty of Amity, which allows U.S. citizens and companies to be exempted from most of the restrictions of the Foreign Business Act of 1999. Although the meaning of the Treaty of Amity itself is rather […]

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Developing a Luxury Hotel for Rent in Thailand

Thai law does not require condominium projects to be registered under the Condominium Act of 1979 and accordingly a popular type of development that is found in the tourist resort areas of Thailand is the unregistered condominium, which is usually marketed as luxury hotels. Typically, the investors who purchase units in such projects do not […]

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Withdrawal of Shareholder Meeting Resolutions

A basis for withdrawing a resolution passed by a shareholder meeting of a Thai limited company is that the resolution was passed through bad-faith. Section 5 of the Civil and Commercial Code provides that “Every person must, in the exercise of his rights and in the performance of his obligations, act in good faith.” Furthermore, […]

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Foreign Currency Requirements for Purchasing a Condo

The Condominium Act of 1979 is restrictive of foreign ownership of condominiums in Thailand, but generally allows it for foreigners who permanent residents, or those who have entered the country on an investment promotion visa, or for those who have fulfilled certain requirements related to the transfer or withdrawal of foreign currency. In regards to […]

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Company Registration: Shareholder Meetings

Shareholder meetings form an important element of Thai company law, as Section 1144 of the Civil and Commercial Code states that “Every limited company shall be managed by a director or directors under the control of the general meeting of shareholders and according to the regulations of the company.” Therefore, shareholders play an important, albeit […]

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Acquisition of Land in Thailand by a Foreign Government

| December 9, 2016 | Land, Property

The acquisition of land or a condominium unit in Thailand by a foreign government for official use, such as for use as an embassy or consulate, is not covered by any specific legislation. Therefore, assuming that a foreign government intended to acquire land or other immovable property in Thailand for official use, such an acquisition […]

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Foreigner’s Right to Value of Land in Thailand

| December 2, 2016 | Land, Property

An important principle of Thai law regarding foreign investment in land is that where the foreigner has purchased land, but is not able to legally register ownership of the land, he or she is entitled to the monetary value of the land. This principle is demonstrated in the following Land Department Advisory Opinion: During litigation […]

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Disposal of Land Owned by a Foreigner

| November 25, 2016 | Land, Property

According to the Land Code of Thailand, it is unlawful for a Thai national to own land as the agent of a foreigner. The act of doing so entails criminal penalties for both the Thai national and the foreigner involved. Furthermore, one consequence of “nominee landownership” as it is called, is that the land that […]

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Acquiring Land with a Foreign Spouse

The primary concern behind Thai government regulations related to the acquisition of land by a Thai national married to a foreign spouse is the issue of nominee landownership. Under the Land Code of Thailand, the act of a Thai national owning land as an agent of a foreigner, which is to say, for the benefit […]

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