Thailand Business & Thailand Property Info Blog
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…
February 1 2010 Categories: Understanding Thailand No comments yet
While the purpose of this blog is to inform on how to do business and not to do politic I will nevertheless from time to time dedicate a post to the ongoing Thai Political Crisis.It seems that the time of a possible reconciliation of all parties as not yet come and that the political situation is about to become even more muddy if it was possible and we are to enter another period of incertitude
Originally posted 2009-09-13 08:02:00.
February 1 2010 Categories: Thailand Taxes No comments yet
Withholding Tax is a tax collected by a deduction made on a payment when said payment is made. The payer who will remit it to the Revenue Department on behalf of the payee collects the tax. The tax the payer collect and remit to the Revenue Department on behalf of the payee will become a credit that will apply against the income tax (personal or corporate) due by the payee.
Originally posted 2009-07-25 15:44:49.
February 1 2010 Categories: Property General Issues, Thailand Property No comments yet
When the time come to invest most people tend to consider real estate as the most secure long term investment.
This is true for many reasons, one of which being that while companies may go out of business real estate properties will exist forever. In addition, but for period of bump like the current crisis, the average price of properties will appreciate over the long term steadily.
Originally posted 2009-07-27 05:57:28.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business, Thailand Company Registration No comments yet
This is the third of a series of posts about Thai private limited company corporate documents translated in English.
The articles of associations of your company are another important corporate document of your company. As a matter of fact the decision on the content of the company articles of associations is actually taken during the statutory meeting.
Originally posted 2009-09-07 10:22:26.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business, Thailand Company Registration 3 comments
There is a lot of confusion as to minimal capital requirements when doing business in Thailand and I will try to clarify this issue in this post.
Originally posted 2009-09-28 05:31:43.
February 1 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet
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.
Originally posted 2009-07-29 10:42:10.
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.
Originally posted 2009-09-24 05:17:58.
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?
Originally posted 2009-11-21 07:04:25.
February 1 2010 Categories: Thailand BOI, Thailand Business 2 comments
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.
February 1 2010 Categories: Thailand BOI, Thailand Business No comments yet
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
Originally posted 2009-08-05 14:46:31.
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.
Originally posted 2009-11-26 02:57:42.
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.
Originally posted 2009-09-03 14:40:40.
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.
Originally posted 2009-09-23 04:15:46.
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.
Originally posted 2009-10-02 03:14:08.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
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.
Originally posted 2009-08-06 03:09:51.
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.
Originally posted 2009-09-16 04:12:16.
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]
Originally posted 2009-10-15 00:09:26.
February 1 2010 Categories: Thailand Business, Understanding Thailand No comments yet
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.
Originally posted 2009-07-24 04:10:21.
February 1 2010 Categories: Thailand Business, Understanding Thailand No comments yet
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.
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.
Originally posted 2009-10-29 02:14:36.
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).
Originally posted 2009-09-30 04:55:13.
February 1 2010 Categories: Thailand Business, Thailand Foreign Business Act No comments yet
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.
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.
Originally posted 2009-11-03 08:15:01.
February 1 2010 Categories: Property General Issues, Thailand Property No comments yet
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.
Originally posted 2009-07-26 00:44:12.
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?
Originally posted 2009-12-22 10:21:42.
February 1 2010 Categories: Thailand FAQ, Thailand Visas, Thailand Visas & Work Permit No comments yet
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.
Originally posted 2009-08-08 06:36:36.
February 1 2010 Categories: Thailand Visas, Thailand Visas & Work Permit, Thailand Work Permit No comments yet
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 “.
Originally posted 2009-07-28 11:25:22.
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
Originally posted 2009-10-27 04:59:56.
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?
Originally posted 2009-12-14 07:15:20.
