Business Registration:Thai Shareholders Disclosure Requirement

January 27 2010 Categories: Thailand Business, Thailand Company Registration No comments yet

Three years after its enactment in August 2006 the requirement of disclosure of Thai shareholders source of investment at the time of company incorporation is still confusing many foreign investors who do not always understand when and why do Thai shareholders have to disclose the source of their investment when they invest into a company with foreign investors. In this article i do not address the issue of when a foreigner may or may not own more than 49% of a business in Thailand.

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Originally posted 2009-10-21 01:47:12.

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Thailand: Frequently Asked Questions: Arrest and Overstay

January 27 2010 Categories: Thailand FAQ, Thailand Visas, Thailand Visas & Work Permit one comment

 

Frequently Asked Questions: Thai Visas

The point of the doingbusinessthailand.com blog is not only to provide potential investors with a comprehensive and up to date source of information on how to do business in Thailand but is also, as much as possible, to try to answer to readers immediate concerns.

One of the benefits of search engines is that they made it possible to keep track of the researches that are made by those among you who are interested by Thailand. Therefore from now on I will not only continue to provide substantive information but I will also from time to time discuss some of the queries that are made every weeks.

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Originally posted 2009-08-07 11:59:46.

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Living in Thailand: What you need to know about Thai visas

January 27 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet

Is it difficult to enter and stay in Thailand?

How many times did I hear foreign clients complaining about Thai Immigration policies and how difficult it is to live or stay in Thailand? Believe me we are the lucky one because Thailand gives us VIP treatment in comparison to what Thai citizens have to go through to visit our countries. Read more…

Originally posted 2009-07-21 14:54:28.

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Thailand Political Outlook: The “Stuff” is about to hit the fan

January 27 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.

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Originally posted 2009-12-25 04:16:43.

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Doing Business Thailand | Iphone Application on Itune Store

January 27 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet

Hi just to remind you that you may from now on read DoingBusinessThailand blog on your iphone. The application can be downloaded for free on Itune Store.

 

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Thailand BOI: Promoted Activities: Agriculture Products

January 26 2010 Categories: Thailand BOI, Thailand Business No comments yet

What are the agricultural activities eligible for promotion?

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 2009-08-03 07:05:20.

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Doing Business Thailand: Bar Business | Police Protection

January 25 2010 Categories: Doing Business In Thailand, Thailand Business No comments yet

One of the advantage of Thailand when entering the bar business is that you will not have to worried about having to buy protection from local mafia in order to run your business, because the police has things under control.

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Corporate: Disclosure requirement of Thai shareholders

January 22 2010 Categories: Thailand Business, Thailand Company Registration No comments yet

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.

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Doing Business in Thailand: Understanding Thai Administration

January 22 2010 Categories: Thailand Business, Understanding Thailand No comments yet

Why it is necessary to understand the system?

The first thing you will hear when coming to Thailand is foreigners complaining about the workings of the Thai Administration. I used to work with a foreign lawyer who had what I call the “colonial state of mind”. This lawyer was so full of his own superiority and so sure that his country’s administrative system was superior to Thailand’s that he never understood the system here, which is a mistake.

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Originally posted 2009-07-23 05:40:23.

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Company Criminal Liability: May a Company be Prosecuted?

January 22 2010 Categories: Thailand Business, Thailand Company Registration No comments yet

While companies are juristic persons and cannot be as such subject to the punishment of imprisonment it does not mean that a company may not be prosecuted for a criminal offence in Thailand. To the contrary, companies may be prosecuted the same way as individuals.

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Originally posted 2009-12-15 10:20:04.

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Buying Land: The Nominees Witch Hunt (1)

January 22 2010 Categories: Land Ownership, Thailand Property No comments yet

As you know a “witch hunt is a search for witches or evidence of witchcraft, often involving moral panic, mass hysteria and lynching, but in historical instances also legally sanctioned and involving official witchcraft trials. The term “witch-hunt” is often used by analogy to refer to panic-induced searches for perceived wrong-doers other than witches.” Now Thailand has been since 2006 affected by a serious political crisis and the successive governments since the beginning of this crisis have been under a lot of pressure.

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Originally posted 2009-10-28 04:23:27.

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Buying a Condominium: Thailand Condominium Market Review

January 21 2010 Categories: Condominium Ownership, Thailand Property No comments yet

Colliers recently published its last property snapshot for 2009 and we would like to take this opportunity to review 2009  Thai condominium market. So, was 2009 a good or a bad year?

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Originally posted 2009-12-23 07:02:15.

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Buying Property: Comparing Construction Costs in Bangkok

January 21 2010 Categories: Thailand Business No comments yet

I deleted yesterday post and reposted today a new version

A reader remarked that I posted a lot of information as to real estate selling prices but did not give to date any information as to construction prices. The problem is that while there is actually a lot of data available on this matter, the information provided is not always coherent. In the post I cancelled I only posted the highest price range information but i felt that to do so was only giving you part of the picture.

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Originally posted 2009-10-06 08:05:27.

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Living in Thailand: Thai Visas: The Investment Visa

January 21 2010 Categories: Thailand Visas, Thailand Visas & Work Permit 2 comments

What is the Non-Immigrant Visa Investment?

The concept of the investment visa is not new in Thailand.

For example, after the crisis of 1997 an investment visa with a ceiling of not less than 3,000,000 THB of investment was created as an incentive to help Thai developers to sell their stock of condominiums units’ leftover of the crisis to foreign investors. This visa was discontinued  in October 2006 once Thai economy picked up.

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Originally posted 2009-08-04 10:51:25.

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Thailand BOI: Promoted Activities: Services and Utilities

January 21 2010 Categories: Thailand BOI, Thailand Business No comments yet

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:

Read more…

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

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What’s up at DBT: The 25 Most Popular Posts

January 17 2010 Categories: What's Up at DBT No comments yet

Out of the 185 posts I wrote since the launch of this blog some had more success than others. Here below is the list of the 25 most read posts.

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Starting a Business in Thailand (2): The Restaurant

January 16 2010 Categories: Doing Business In Thailand, Thailand Business 2 comments

If you want to start a restaurant in Thailand the first question you will have to ask yourself is: May a foreign investor legally open a restaurant in Thailand? The answer is No, Restaurant and Bar business are services activities under the Foreign Business Act List 3 which activities may be exercised by foreign investors only upon applying and receiving a Foreign Business License. The only exceptions are US Citizens who benefit of the US Amity Treaty and may operate a restaurant under a 100% US form.

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Originally posted 2009-11-05 02:44:17.

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Thailand Visas: Visa Abuse | Crackdown on ED Visa?

January 16 2010 Categories: Thailand Visas, Thailand Visas & Work Permit one comment

Visa abuse is not a novelty in Thailand and for the past 3 years we have seen a race between foreigners who abuse the visa system to stay in Thailand (and those who assist them) and the Thai Immigration who always finish by catching up.

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Originally posted 2009-12-19 05:48:46.

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Thailand Bank: Foreign Exchange Control Regulations

January 16 2010 Categories: Exchange Control, Thailand Banking No comments yet

Is there any limitation as to the amount of foreign currency you may bring in?

You may transfer foreign currency into Thailand or bring it in cash without any limit.

However if you bring into Thailand in cash an aggregate amount of foreign currency exceeding USD 20,000 or its equivalent you must declare it to a customs officer and it you transfer foreign currency exceeding USD 20,000 or its equivalent you will need to file a Foreign Exchange Transaction Form (“FETF”).

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Originally posted 2009-08-02 06:44:07.

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Thailand Visas: The 90 Days Visa Reporting Requirement

January 16 2010 Categories: Thailand Visas, Thailand Visas & Work Permit one comment

Section 37(5) of the Immigration Act B.E is anorther disposition that gets a lot of foreign citizens in trouble. To sum it up it requires that any foreigner who is permitted to stay in Thailand temporarily is required to report to the Immigration Department to confirm his/her residential address upon completion of every 90 days period of stay.

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Originally posted 2009-12-10 07:27:57.

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Thailand Visas: The Resident Permit

January 16 2010 Categories: Thailand Business one comment

Many foreign investors living in Thailand call themselves “permanent resident” which is actually incorrect. A permanent resident of Thailand is a foreign national that has applied and obtained a Resident Permit (or Certicate of Residence) pursuant to Chapter 5 Section 40 to 52 of the Immigration Act. What are the benefits of this status and how to obtain it?

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Originally posted 2009-11-19 01:27:34.

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Thailand Property: Nominees under watch

January 14 2010 Categories: Land Ownership, Property General Issues, Thailand Property No comments yet

There have been a lot of activities on the “nominees” front lately. It is an issue that resurfaces from time to time. Lately there has been the scandal of foreigners purchasing farm land through the cover of companies that have shareholders that may be deemed “Thai nominees”. This morning in the Bangkok post an article was published under the title “Nominees Ownership under watch”.

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Originally posted 2009-08-25 12:37:59.

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Selling a Condominium:Taxes and Government Fees Applicable

January 11 2010 Categories: Condominium Ownership, Thailand Property No comments yet

In this post we will show how the government fees and taxes payable at the Land Department are calculated in the case of the resale of a condominium. Note that in the two examples below we envisaged a transaction before end of March 2010 and after March 2010 because government fees are discounted until the end of March 2010.

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Originally posted 2009-12-09 06:47:13.

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Doing Business In Thailand: The Nominees Issues (3)

January 11 2010 Categories: Thailand Business, Thailand Foreign Business Act No comments yet

 The Business Development Department just announced the creation of a special unit dedicated to check companies’ compliance to the Foreign Business Act. The purpose of the new agencies is to insure more efficiency in insuring compliance to the Foreign Business Act. What does it mean for foreign investors in Thailand?

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Originally posted 2009-12-06 09:49:32.

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Thailand BOI: Promoted Activities: Chemicals, Papers, Plastics

January 7 2010 Categories: Thailand BOI, Thailand Business No comments yet

What are the activities eligible for promotion under section 6 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 15:11:55.

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Thai Labor Protection: The Warning Letter

January 7 2010 Categories: Thailand Business No comments yet

Many employers in Thailand have found themself condamned for unfair dismissal as a result of  court proceedings filed by employees that were terminated following a  disciplinary action for violation of the company working rules. The reason for this is that Thai laws are very formal and that the disciplinary procedure must be in conpliance with the law or the working regulation of the company in order to be valid and opposable to the employee.  

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Originally posted 2009-12-01 02:34:02.

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Thailand Visas:Setting the Record Straight 2: Visa Exemption

January 7 2010 Categories: Thailand Visas, Thailand Visas & Work Permit No comments yet

Another big problem in Thailand for the professional who like us provide visa services is that foreign visas applicants are often confusing the names of the visas they are having and the benefits attached to say visas. This is why we will dedicate this post and the next post to give definitions of visas terms.

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Originally posted 2009-10-24 09:13:01.

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Thailand BOI: Promoted Activities: Mining, and Base Metals

January 5 2010 Categories: Thailand BOI, Thailand Business No comments yet

What are the mining and base metals activities eligible for promotion under section 2 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 2009-08-03 07:09:13.

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Understanding Thailand – Jet Ski Scam Vs Political Turmoil

January 5 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.

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Originally posted 2009-09-18 08:42:05.

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Understanding Thailand: Getting yourself out of trouble (1)

January 5 2010 Categories: Understanding Thailand No comments yet

One of the interesting aspects of blogging is that I can see the Google searches that bring readers to my blog. Today a reader had a query which read “how to efficiently bribe Thai Police?”. Now, I don’t know about you but when I read this kind of query I cannot help but guess that someone is in trouble and expect to get out of it through the help of a bribe.

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Originally posted 2009-12-03 12:50:50.

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