Thailand Business & Thailand Property Info Blog
May 24 2010 Categories: Doing Business In Thailand one comment
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?
Originally posted 2009-12-24 07:15:15.
May 24 2010 Categories: Understanding Thailand No comments yet
If you have been following Thai news you cannot have not read about the other affair of the week (the first affair of the week was the police chief election mess) that is to say the story of this Thai television company that has produced footage about an alleged jet-ski scam in Phuket which has been broadcasted on British TV and is now on U-Tube.
Originally posted 2009-09-18 08:42:05.
May 24 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.
May 24 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.
May 24 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.
May 24 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.
May 24 2010 Categories: Condominium Ownership, Thailand Property No comments yet
In this new rubric we will offer once a month a property for sale. We will only select properties which we believe have a real competitive advantage over their competitors.
Originally posted 2010-06-16 05:18:02.
May 24 2010 Categories: Land Ownership, Thailand Property one comment
If you are a regular reader of my posts you already know that I believe that the “foreign investors that have purchased land through a company with Thai Shareholders that may be deemed nominees” is a big messy situation that at one point will need to be resolved.
Originally posted 2009-11-01 07:03:18.
May 24 2010 Categories: Understanding Thailand No comments yet
Absolutely, however, as with everything there are always exceptions but if, you treat your Thai employees well and with respect, you will notice that they will give you the loyalty that you do not expect to find anymore.They will be hard working and, committed; they will protect your interests and the interests of your company as if it were theirs. Over time the company will become a second family for them up to the point where you will see an employee in tears informing you that she is leaving your company for a new job. Such moments, are a real reward.
Originally posted 2009-07-23 06:05:50.
May 24 2010 Categories: Thailand Visas & Work Permit, Thailand Work Permit No comments yet
Contrary to a common belief there are no minimum wages applicable to foreign workers. But because there is always a but in Thailand the Immigration Department has developed a minimum wage schedule applicable to foreign workers who benefit of a work permit and wants to apply and obtain a one year B visa extension.
Originally posted 2010-01-16 07:20:22.
May 24 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet
One of the biggest problems in Thailand for the professional who like our firm provide visa services is that everyone has an opinion on the subject. Having listen to dinner party rumors, gossip, the advice of well intentioned friends and family, many foreign citizens candidate to a visa, a visa extension or a work permit will come to their first meeting prejudiced as to what is in the realm of the possible and what is impossible to achieve.
Originally posted 2009-10-23 12:44:03.
May 24 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.
May 24 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.
May 24 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.
May 24 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…
Originally posted 2010-02-05 00:50:18.
May 24 2010 Categories: Doing Business In Thailand, Thailand Business 2 comments
Note: This post is not entirely new. This subject was first posted as a Page called “Nominee Issue”. I’m about to modify the look of the blog and decided that some of the subjects discussed in pages would now be treated as posts. Of course I updated the content of this post to reflect the current situation.
The “Thai Nominee” issue is the more acute problem of foreign investment in Thailand and we will discuss here the many aspects of this problem.
Originally posted 2009-10-12 01:18:43.
May 24 2010 Categories: Thailand Company Registration No comments yet
According to the yearly study of the World Bank “Doing Business 2010″ Thailand ranks 12th out of 183 friendly countries to do business. As a professional which role is to assist foreign investors doing business in Thailand I should welcome any such survey. I mean the friendlier Thailand looks to foreign investor the better it is for my business.
Note that tomorrow I will conclude with my “Buying a Business” posts series
Originally posted 2009-09-10 03:28:25.
May 24 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.
May 24 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.
May 24 2010 Categories: Thailand Taxes No comments yet
According to the Bangkok Post Thailand Finance Ministry is working on a new incentive to attract new foreign investors. This new incentive would entitle said new foreign investors to a 15 years tax break.
Originally posted 2010-05-24 09:53:07.
May 24 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.
May 24 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet
May 24 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 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.
Originally posted 2009-09-04 07:35:27.
May 24 2010 Categories: Understanding Thailand No comments yet
For service providers that rely on foreign investment like us, 2008 was a bad year and I remembered in October 2008 whishing for the year to end and for a fresh start in 2009. Obviously, the subprime crisis and the seizure of Bangkok airport by the yellow shirts shattered any chances of fresh start. Curiously and despites everything that happened 2009 was not as bad a year as it could have been. Still the year is about to come to an end and it is now time to think about what 2010 may bring us. Unfortunately, prediction are difficult with a political situation at a standstill and the business community holding its breath and waiting to see what will happen next.
Originally posted 2009-11-30 03:53:22.
May 24 2010 Categories: Thailand Business, US Thai Amity Treaty 3 comments
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.
Originally posted 2009-08-09 04:35:41.
May 24 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.
May 24 2010 Categories: Thailand Taxes one comment
Taxes are not really my favorite cup of tea and I guess most of you think the same; the problem is that you cannot invest successfully in Thailand without having a minimum understanding of those issues. Of course there is more to taxation that I will explain herein, those are only the basics
Originally posted 2009-07-25 11:44:07.
May 24 2010 Categories: Doing Business In Thailand, Understanding Thailand No comments yet
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.
Originally posted 2009-07-23 13:06:14.
May 24 2010 Categories: Thailand Taxes No comments yet
The Revenue Department is the largest source of income for the Thai Government representing up to 80% of its revenues. Now as a result of the 2008 crisis the Revenue Department underperformed in 2009 (180 Billion Baht below target) while on the other hand the Government committed huge amounts of funds to support the economy increasing the public debt.
Originally posted 2009-12-21 04:53:57.
May 24 2010 Categories: Thailand Business No comments yet
I have the pleasure to inform you that the second edition of my book “How to Safely Buy Real Estate in Thailand” shall be available in Thailand Bookstores starting from the 10th of February 2010 at a price of 625 THB. Later this month it shall also become available on Amazon.com, Nobles and Barnes and Theebooksale.com websites among others. It contains 54 chapters and 342 pages of useful information for anyone interested to buy real estate in Thailand. Read more…
Originally posted 2010-01-27 20:56:39.
