Doing Business in Thailand

What is the disclosure requirement?

The disclosure requirement was one of the measures taken by the Thai Government to avoid the use of Thai nominees by foreign investors. Since August 14th 2006, the Department of Business Development is compelled to require at time of incorporation of a company that the company Thai shareholders justify the source of their investment if certain circumstances are met.

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Originally posted 2009-07-24 10:40:28.

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 most important documents for information. After the Memorandum of Association (please see previous post) please see below a translation of the Minutes of the Statutory Meeting. Please note that this is an unofficial translation only.

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Originally posted 2009-09-04 07:35:27.

What are the activities eligible for promotion under section 7 of the BOI list?

This post concludes our series on the BOI (9 posts in total). If you have a question I did not deal with in the BOI series do not hesitate to complete our FAQ form. It was posted first on the 5th august but had to be reposted following technical problems

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:

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Originally posted 2009-08-06 03:18:47.

“So when the woman saw that the tree was good for food, that it was pleasant to the eyes, and a tree to be desired to make one wise, she took of its fruit and ate. She also gave to her husband with her, and he ate.” (Gen3:6).

This extract of the genesis sum up the story of foreign investment in Thailand.

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Originally posted 2009-08-17 06:51:07.

A client just asked me whether he should start a new business or buy an existing business. He is thinking to invest in restaurant business and found a restaurant for sale at 4,000,000 THB, which restaurant comes with a work permit and a company.

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Originally posted 2012-02-03 18:58:31.

What is the Thai-US Treaty of Amity?

A little bit of background. The Thai-US Treaty of Amity between the US and Thailand is actually the second amity treaty between the US and Thailand. It was executed in 1966 and ratified in 1968. Originally the treaty was for a period of 10 years. At the end of the ten years period the parties had the option to terminate it. None of them did and the Amity was in effect until 2005 when it finally expired.

Why then bother to discuss a treaty that expired a few years ago? Because we are in Thailand and things are not always what they seem to be. So bear with me.

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Originally posted 2009-08-09 04:35:41.

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.

Any employees between 15 to 60 years old and their employers must make monthly contribution to the social security. Now what are the exact costs of social security in Thailand?

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Originally posted 2009-12-13 09:45:23.

This post follows my two first posts on the subject of setting up a company with Thai Shareholders that may be deemed nominees. In the first post I presented the basic company structure, in the second post I discussed a more elaborated structured called the two tiers structure. I will now discuss my preferred structure which I called the Ouroboros in reference to the snake eating his tail) represents the perpetual cyclic renewal of life and infinity.

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Originally posted 2012-04-02 16:49:11.

I wish you all a Happy Christmas and Best Wishes for 2010 and I hope that we will see many of you in Thailand next year. Now if Somchai (Santa) Claus was Thai what would be the wish list of the Foreign Community in Thailand?

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Originally posted 2009-12-24 07:15:15.