Thailand Business |Minimal Capital Required for BOI Company

February 5 2010 Categories: Thailand Business No comments yet

This is my second post on the subject of Minimum Capital Requirement. I will discuss this time the minimum capital requirement for foreign BOI promoted companies. For Non BOI companies please refer to my previous post Doing Business in Thailand: Minimal Capital Requirements dated of 21 January 2010.  Read more…

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Thailand Taxes – Deductible Expenses under Scrutiny

February 1 2010 Categories: Thailand Taxes No comments yet

 

I told my business owners clients that this year would be a bad one for all of us not only because we have to survive amid the context of the global economic downturn and the political crisis but also because economical crisis’s do not only affect companies they also affect the Thai Revenue Department and this year was a bad one for the Revenue Department with collections that will fall short of the target by Bt170 billion (first estimation was a shortfall of 300 billions) THB.

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Originally posted 2009-09-24 05:17:58.

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Thai Labor Protection: How to Terminate an Employee?

February 1 2010 Categories: Thailand Business No comments yet

Are employees in Thailand well protected by the law and is it easy to terminate an employee with or without cause?

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Originally posted 2009-11-21 07:04:25.

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Living in Thailand: What is the Visa Exemption?

February 1 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet

What is the Visa Exemption?

Pursuant to Thai Immigration Law; any foreign citizen who wishes to enter the Kingdom of Thailand is in principle required to obtain a Visa from a Royal Thai Embassy or a Royal Thai Consulate-General prior to entering Thailand.

Read more…

Originally posted 2009-07-29 10:42:10.

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Investing in Thailand: What is BOI promotion?

February 1 2010 Categories: Thailand BOI, Thailand Business 2 comments

What is the BOI?

The Board of Investment or BOI is an agency set-up by the government to provide investment incentives to foreign or local investors that invest in promoted or priorities activities.

The two main objectives of the BOI are to decentralize Thailand Industrial’s base and to attract special types of investment (priority activities). Read more…

Originally posted 2009-07-21 12:51:10.

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Thailand BOI: Promoted Activities: Metal, Machinery,Transport

February 1 2010 Categories: Thailand BOI, Thailand Business No comments yet

What are the activities eligible for promotion under section 4 of the BOI list?

Reminder: As you already know the Board of Investment is the agency in charge of promoting certain sectors of Thai economy. As such the BOI role is among other to determine:

What are the activities which are eligible for promotion

What are the conditions attached to said promotion

What are the privileges attached to said business activity

Read more…

Originally posted 2009-08-05 14:46:31.

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Work Permit: Working with no Work Permit | Penalties

February 1 2010 Categories: Thailand Visas & Work Permit, Thailand Work Permit No comments yet

Working without a work permit is not something someone should take lightly as the penalties applicable are quite harsh.

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Originally posted 2009-11-26 02:57:42.

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Thai Corporate Documents – The Memorandun of Association

February 1 2010 Categories: Thailand Business, Thailand Company Registration No comments yet

In a previous post I explained step by step the formalities to incorporate a Thai Limited Company. Many readers have contacted me to request whether I could also post the english translation of Thai Limited Company documents for information. Today and the next few days I will post the translations of the main corporate documents of a Thai Private Limited company. Please note that this is an unofficial translation only.

Read more…

Originally posted 2009-09-03 14:40:40.

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Foreign Investment – A tightening of shareholding rules?

February 1 2010 Categories: Doing Business In Thailand, Thailand Business, Thailand Foreign Business Act No comments yet

 

This morning in the Bangkok Post was an interesting article about the tightening of insurance shareholding rules by Sorachon Boonsong a Thai lawyer. In substance, Khun Sorachon comment on a ruling from the Council of State dated of 14 September 2009 in relation to the new shareholding requirements of the amended Life and Non Life Assurance Act.

Read more…

Originally posted 2009-09-23 04:15:46.

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Buying Property:Comparing Lease Duration Period in Asia

February 1 2010 Categories: Leasehold Ownership, Thailand Property one comment

 

In several of my previous posts I have commented on the too short lease period duration in Thailand by comparison to other Asian countries but I had to date to provide to my readers any basis for comparison which I have done now with a table comparing the lease duration period in 13 Asian countries including Thailand.

Read more…

Originally posted 2009-10-02 03:14:08.

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Thailand:Labor protection

February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet

How well are Thai employees protected in Thailand?

Yes they are well protected by the Labor Protection Act (1998) that applies to all businesses with at least one employee and which provide sanctions for employers who disregard the law.

The Labor Protection Act has been recently amended and the new amended act has been enforced in 28 May 2008. The new Act contains provision to protect indirect or outsourced workers and to empower the Courts to order an amendment of employment contracts, work rules, regulations or orders that are not fair.

Read more…

Originally posted 2009-08-06 03:09:51.

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Thailand Property: Land Rights Classification: Minor Claims

February 1 2010 Categories: Property General Issues, Thailand Property No comments yet

As previously explained, the Thai Civil and Commercial Code recognizes possessory rights and/or ownership rights and there are several kinds of documents to evidence various levels of rights to land, ranging from documents evidencing mere squatters or occupation rights to full ownership rights.

Read more…

Originally posted 2009-09-16 04:12:16.

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Business Registration: The Representative Office

February 1 2010 Categories: Thailand Business, Thailand Company Registration No comments yet

The first option available to a foreign investor who wants to start a business in Thailand is to register a non-trading legal vehicle (for example Representative Office). Hereinafter we will discuss the characteristics on Non-Trading Legal Vehicles the most common of which is the Representative Office. [this post is an updated version that replace one of my first posts]

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Originally posted 2009-10-15 00:09:26.

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Doing Business in Thailand: Dealing with Thai People

February 1 2010 Categories: Thailand Business, Understanding Thailand No comments yet

Should you be wary to do business with Thai people?

Not really because Thai people are honest. There are always exceptions of course but as a foreigner coming to do business in Thailand you have to be more wary of citizens from your own country than from Thais.

Read more…

Originally posted 2009-07-24 04:10:21.

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Doing Business inThailand: Understanding Thai Legal System

February 1 2010 Categories: Thailand Business, Understanding Thailand No comments yet

Is Thai Legal System Different?

If I had to qualify the Thai legal system, I would say that Thailand is a country ruled by Civil Law with a touch of Common Law. Civil law is one of the predominant system of law in the world. The other being common law, which is the legal system developed among Anglo-Saxons people.

The main difference between the two systems is that civil law is laid down from abstract rules and judges must apply those rules to the various cases before them. Read more…

Originally posted 2009-07-23 05:17:20.

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Buying Land: The Nominees Witch Hunt (2)

February 1 2010 Categories: Land Ownership, Thailand Property 2 comments

One of the reasons I’m calling the nominee scrutiny a “Witch Hunt” is because one of the declared target of said inquiry will be the “Thai wife”. Yes, the Thai wife, not the Thai Spouse. There is gender discrimination in this whole Thai wife business that i do not like at all.

Read more…

Originally posted 2009-10-29 02:14:36.

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Doing Business in Thailand: Global Corruption Barometer 2009

February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet

In today and tomorrow post I will comment on the Global Corruption Barometer 2009 just published by the World Bank. Overall, 70 countries were surveyed, 12 of which are Asian countries (Brunei, Cambodia, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore, South Korea).

Read more…

Originally posted 2009-09-30 04:55:13.

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Investing in Thailand: what is a Foreigner under the FBA?

February 1 2010 Categories: Thailand Business, Thailand Foreign Business Act No comments yet

What is the current legal definition of a Foreigner?

In this post I will discuss how the concept of “foreigner” is defined by the Thai Foreign Business Act (formerly “Alien Business Act”) as well as the changes that the Thai Government wanted to bring to this definition in December 2007. While the attempt to change the definition of the FBA definition of the term of foreigner ultimately failed the fact is that it was the second such attempt since the enforcement of the FBA and that Foreign Investor coming to Thailand should keep in mind that said matters could resurface at any time in the future. Read more…

Originally posted 2009-07-21 12:25:37.

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Starting a Business in Thailand (1): The basics

February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet

They are more than a few Tom, Dick and Harry that come to do business in Thailand armed with a “colonial” false sense of superiority. This is a mistake, even if Thailand did not yet achieve European, Japanese or US standards in all matters do not be mistaken about it. Thailand is a developed country. At least economically, politically that is a story for another day.

  Read more…

Originally posted 2009-11-03 08:15:01.

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Buying Property: Two issues to consider before buying a land

February 1 2010 Categories: Property General Issues, Thailand Property No comments yet

The Land tenure and access to land ownership issues

While surfing the internet I found a post on a Thai forum. I found the questions asked by this person under the username of “Samuisoul” interesting because they address two of the first issues that a careful investor should consider prior to purchase real estate into a foreign country.

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Originally posted 2009-07-26 00:44:12.

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Thailand FAQ: Being Involved in an Accident in Thailand

February 1 2010 Categories: Thailand FAQ No comments yet

Being involved in an accident is not fun when you are living in your own country where you have a grasp of what your legal rights are but it is even worth when you are in a foreign country like in Thailand. Not one day pass without a foreign resident or tourist being involved in a car, bike, trucks, bus or even boat accident. What should you do if you are involved into an accident?

Read more…

Originally posted 2009-12-22 10:21:42.

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Thailand: Frequently Asked Question: What is the blacklist?

February 1 2010 Categories: Thailand FAQ, Thailand Visas, Thailand Visas & Work Permit No comments yet

 

The infamous blacklist

 

There are a lot of lists most of us dreamt to be on (fortune list, most influent people, most eligible bachelor and so on….) but there is one you definitively don’t want to be on, Thailand immigration blacklist.

Note: I would be unfair to Thailand if I did not state that Thailand is not the only country with an immigration blacklist. All countries have one.

Read more…

Originally posted 2009-08-08 06:36:36.

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Working in Thailand: The four Thai employees requirement

February 1 2010 Categories: Thailand Visas, Thailand Visas & Work Permit, Thailand Work Permit No comments yet

Work Permits Requirements – Update

 

In France we have this joke of a Prime Minister giving a speech to restore confidence and saying:

” Last year we were on the brink of a cliff but I’m proud to tell you all that we have made a big step forward .

Read more…

Originally posted 2009-07-28 11:25:22.

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Reminder: Speech at the Arnoma Hotel

February 1 2010 Categories: Thailand Business No comments yet

Dear Readers, for those of you in BKK I will be given a speech on Wednesday 28  2009 at 15:15 pm at Arnoma Hotel Bangkok on “Laws and Regulations Related to Trans-national Real Estate Investment” during “The 4th CERTIFIED INTERNATIONAL PROPERTY EXPERT (CIPE)” workshop organised by the Thai Appraisal Fundation. To register please follow this link:

http://www.thaiappraisal.org/english/international/cipe.php

Yours Sincerely Rene Philippe

ShareThis

Originally posted 2009-10-27 04:59:56.

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Thailand Taxes: Is it easy to pay taxes in Thailand?

February 1 2010 Categories: Thailand Taxes No comments yet

Price Waterhouse recently published its 2010 “Paying Taxes 2010 the Global Picture” which consist of a comparative survey of how easy/difficult is it for an average company to pay tax in 183 countries. So how did Thailand do in this comparative survey?

Read more…

Originally posted 2009-12-14 07:15:20.

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Understanding Thailand: The Somtam Effect

February 1 2010 Categories: Understanding Thailand No comments yet

In Thailand, there is a “little something” in the air, I can’t point exactly what it is maybe too much somtam (local spicy papaya salad) or Singha (local beer) but from time to time an ordinary person will lose all focus and reason and over a few years will go from the status of a respected professional to a pitied fool.

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Originally posted 2009-11-22 05:10:08.

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Doing Business in Thailand: Thai PLC and Nominees definition

February 1 2010 Categories: Thailand Business, Thailand Company Registration, Thailand Foreign Business Act No comments yet

 

One thing I find interesting when blogging is that Google and Wordpress have tools that permit me not only to check what articles are the most successful but also the search queries of my blog readers. Now when looking at the queries I notice that there is still a lot of confusion among readers as to definition of legal concepts such as Thai or Foreign Private Limited Company and nominees. I tried hereinafter to clarify those concepts.

Read more…

Originally posted 2009-10-07 04:38:15.

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Buying a Condominium: Bangkok Price Scale Update

February 1 2010 Categories: Condominium Ownership, Thailand Property No comments yet

This post is part of a series of posts that include my post dated of 26 August 2009 called “Bangkok What and Where to Buy?” and my post dated of 28 August 2009 “Bangkok more reasons to buy”.  Two new surveys published recently by CB Richard Ellis (Thailand) and Jones Lang LaSalle (Thailand) have draw my attention.

Read more…

Originally posted 2009-09-17 03:57:10.

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Doing Business in Thailand: Is it a developed and safe country?

February 1 2010 Categories: Doing Business In Thailand, Understanding Thailand No comments yet

Is Thailand a safe country?

Yes. Thailand has low violent crime statistics compared to other countries such as France or the US. Of course, violence does exist but is not often directed at foreigners. While there are from time to time crimes against foreigners, they are still rarer than in your homeland and when foreigners do get into trouble, they, often bring it upon themselves.

Read more…

Originally posted 2009-07-23 13:06:14.

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Understanding Thailand: Rumors and the Stock Exchange

February 1 2010 Categories: Understanding Thailand No comments yet

You cannot read Thai news and not know about the issue of the two brokers that have been recently arrested for spreading rumors about His Majesty the King health that affected the Stock Exchange of Thailand (SET). The Authorities are visibly at a loss on what to do. They seem to believe that they have to do something about it but limit for the time being their answer to punishing the allegedly guilty parties involved and if possible to prevent such a thing of ever happening again.

Read more…

Originally posted 2009-11-04 03:36:50.

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