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: Thailand FAQ one comment
The Cabinet has decided. Elite Card and its Members will go on the auction block. At least this is the solution that has the preference from the government. Now the question is will there be a buyer? Cause the economic model of the Elite Card does not seems to be a success. I mean Elite Card was supposed to attract 200,000 members in the first year but it only attained 2570 members over a 5 years period. Obviously Elite Card is a failed concept and project therefore what next?
Originally posted 2009-11-18 03:30:20.
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 2009-08-03 07:10:22.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
For reason I cannot come to understand many foreign investors view Thailand as a place where you can do business as you want without having to worried of the potential consequences. Nothing could be farthest from the truth than this belief.
Originally posted 2009-11-08 07:06:53.
February 1 2010 Categories: Doing Business In Thailand No comments yet
The toll of 3 years of political crisis and unrest, and of a world economical crisis on Thai economy is not as bad as it could have been and Thailand has the economical potential to fully benefit of the recovery announced for 2010. How fast and how quick Thailand will recover will depend of the resolutions of the issues discussed below.
Originally posted 2009-12-25 04:16:43.
February 1 2010 Categories: Land Ownership, Thailand Property No comments yet
During his latest nationwide inspection tour of 30 provinces, Anuwat Meteewiboonwut, the director-general of the Thai Land Department let an old monster lose again. In substance is said that foreigners that the titled deed of Thais spouses that are purchasing land on behalf of their foreign spouses could be revoked if the land department was to find out.
Originally posted 2009-07-27 11:06:29.
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.
Originally posted 2009-11-04 03:36:50.
February 1 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet
The education visa is the visa granted to foreign citizens who want to pursue studies in Thailand.
This type of visa covers the cases of enrollment in a government educational institution or in a private educational institution (High School or University) and is also available to foreign citizen that whishes to conduct training or research into a university or research institute.
Originally posted 2009-08-04 10:38:43.
February 1 2010 Categories: Understanding Thailand one comment
As I was saying in my previous post, it is a simple statistical matter that some of my readers will run into trouble of one sort or another when in Thailand. So can you count on your Embassy to help you if you are in deep trouble?
Originally posted 2009-12-04 03:13:01.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
I have made a lot of posts about starting a business in Thailand but I never discussed the issues that need to be addressed when buying a business. In this post I will first address some general issues to consider before buying a business in Thailand
Originally posted 2009-09-08 09:45:55.
February 1 2010 Categories: Thailand Taxes 2 comments
The VAT system was introduced in Thailand in 1992 that is to say at the same time than the Special Business Tax (SBT). In a nutshell most transactions (exchange of goods or services) that are occurring in Thailand are either subjected to VAT or to the SBT.The principle of VAT is simple, any business which having a turnover of more than 1,800,000 THB per annum, and that is not subject to the Special Business Tax, must register for VAT within 30 days of the date they reach 1,800,000 THB in sales.
Originally posted 2009-11-15 05:12:28.
February 1 2010 Categories: Property General Issues, Thailand Property No comments yet
You cannot have followed Thai news for the past 3 weeks and not have read about the problem faced by General Surayud (former Thai Prime Minister and Member of the Royal Privy Council) in relation to his Khao Yai land.
Originally posted 2010-01-21 09:35:01.
February 1 2010 Categories: Thailand Visas & Work Permit, Thailand Work Permit 2 comments
The new working of Aliens act dated of February 2008 has repealed the former Work of Aliens Act of 1978 and the Working of Aliens Act of 1981. Note that at the time this book was last updated all the regulations of application of the new act had yet to be issued. As long as those regulations have not been issued the Labor will continue to issue work permit under the Working of Aliens Act of 1981.
Originally posted 2009-07-23 04:46:59.
February 1 2010 Categories: Property General Issues, Thailand Property one comment
In our previous post we explained that in Thailand (i) there are no specific documents providing evidence of building ownership, and (2) that it was possible to dissociate land ownership from building ownership. Therefore the question is how then do we establish who the owner of a building is?
Originally posted 2009-09-22 04:23:34.
February 1 2010 Categories: Condominium Ownership, Property General Issues, Thailand Property No comments yet
It is always difficult for a new buyer freshly arrived on a market to make an informed decision on what and where to buy? I have been around for 12 years, believe that I have a good understanding of the market but still I learn new things every day. Should you trust your agent to recommend you the best product available. You may, of course but you could also try to find out for yourself what the situation is.
Originally posted 2009-08-26 03:47:05.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
Never underestimates the locals, Thai businessmen are competitive and good especially at running service businesses. Read more…
Originally posted 2009-07-24 05:05:40.
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: Doing Business In Thailand, Thailand Business No comments yet
Years after its neighbors (Cambodia has issued 3G licenses years ago) Thailand is finally about to start the 3G auction process .
Originally posted 2009-09-29 04:11:28.
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: Understanding Thailand No comments yet
I was checking my early posts and I realized that while I referred in several posts to the concept of Thainess, I never actually defined it.
Originally posted 2009-08-31 10:34:04.
February 1 2010 Categories: Condominium Ownership, Thailand Property No comments yet
While I already dealt with this issue two days ago, I just read this morning a comparative study from the Global Property Guide. The Global Property Guide surveyed and compared the prices of 120 SQM good condition second hand high end apartments in 112 cities over the world. Among the cities surveyed was Bangkok which ranked fairly well in the study.
Originally posted 2009-08-28 10:40:06.
February 1 2010 Categories: Doing Business In Thailand, Thailand Company Registration No comments yet
Preference Shares are opposed to ordinary shares. In Thailand, ordinary shares like in most countries entitle their holders to a share of ownership of the company including a voting right (1 vote per share) and a right to the company dividend or the company benefit of liquidation.
Originally posted 2009-11-24 03:04:41.
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 one comment
Personal income tax is the tax that is levied on the income of any person that is not subjected to corporate income tax such as:
- Individual, ordinary partnership, a body of person which is not a juristic person, a deceased person and an undivided estate.
Originally posted 2009-08-01 08:07:03.
February 1 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
Our American cousins have what they call the American Dream” “first expressed by James Truslow Adams in 1931, citizens of every rank feel that they can achieve a “better, richer, and happier life” (Source Wikipedia) meaning that anyone has a chance to become one day another Bill Gate. In Thailand we have another dream, far more modest; it is called the “Bar Owner” dream or the Bar Owner illusion to be more accurate.
Originally posted 2009-11-06 05:07:54.
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
The Pattaya Mail reported today that, according to sources from several police divisions a serious crackdown on Bar Businesses would begin next month that would target GoGo bars, Beer Bars, Gay Bars and any other bars which are charging bar fines to the customers to let their employees leave work early. Now according to the Pattaya Mail, the police “suspects that many of these rendezvous are sexually related”.
Originally posted 2010-01-22 14:27:04.
February 1 2010 Categories: Thailand Taxes No comments yet
Yes I know this matter is boring and you may wonder why to include it in this blog. When arriving in Thailand you will meet other foreigners who will tell you how easy it is to do business in Thailand. They will tell you that
“you don’t need to paid up the capital of your company” or
“you don’t need to keep accounting records” or
“you don’t need to pay taxes” or
“you can keep double accounting” and so on.
Originally posted 2009-07-25 07:39:25.
February 1 2010 Categories: Thailand Taxes No comments yet
This post is the continuation of yesterday post (Managing Tax Audits Part 1). But for the first visit, when tax officials will audit a company they will generally request it to send the documents at their office. Depending of the team auditing your company you will either be requested to send the documents first or to come for an interview first and then later to send the documents. Do not attend the interview yourself but send the accountant who is handling your company account or a tax lawyer if the issues are complexe. But the accountant should be your first choice.
Originally posted 2009-10-09 04:41:43.
February 1 2010 Categories: Thailand Business, Thailand Company Registration one comment
The private limited company is the legal vehicle that is the most commonly used by foreign investors in Thailand and we will hereinafter review the formalities of registration of a private limited company. In this article we will only review the conditions of incorporation of a Private Limited Company to the exclusion of nominees and Thai/foreign shareholders ratio which are discussed in other posts. [This post replace our previous post on the subject “How to register a company step by step”.
Originally posted 2009-10-20 07:09:45.
