Category: Business in Thailand
Capitalization for Foreign Business in Thailand
The Foreign Business Act of 1999 restricts and regulations foreign business activity in Thailand in order to protect Thai businesses and one of the ways it does so is through specifying rules regarding the capitalization of foreign businesses in Thailand. Notably, although retail is restricted under (14) of Annex 3 of the Foreign Business Act, […]
Limiting the Authority of a Company Director
When foreign investors do business in Thailand, it is often more expedient to hire a Thai person to serve on the board of directors along with the foreign directors. Generally, Thai law does not require a limited company to have a Thai national to serve on the board of directors. Furthermore, maintaining control of the […]
Authority of Company Liquidators
When a company is dissolved in Thailand, it must thereafter be liquidated, wherein its debts are paid, its assets are distributed to the shareholders, and all of its other remaining affairs are settled. During the liquidation phase, company liquidators must be appointed in order to conduct the aforementioned duties. The company liquidators will have the […]
Company and Partnership Offenses in Thailand
Thailand has strict laws regulating the operation of companies and partnerships. Unlike in some other jurisdictions, violations of company and partnership laws are criminal offenses in Thailand and may result in either imprisonment or fines depending on the severity of the offense. Therefore, it is imperative, especially for foreign entrepreneurs who are less familiar with […]
Foreign Business License: Installation, Repair, and Maintenance Services
A common business activity for foreign multinationals that set up business operations in Thailand is installation, repair, and maintenance services. This refers to the installation, repair and maintenance of machinery, tools, and equipment used in the manufacturing process. However, this business activity falls within the scope of Category (21) of List Three of the Foreign […]
Basics of Thai Investment Promotion Law
Thailand’s investment promotion laws are a particularly important element of its overall plan for future economic growth, especially regarding its competitiveness with other nations in the ASEAN Economic Community (AEC). The Investment Promotion Act of B.E. 2520 (1977), amended as recently as 2001, empowers the Board of Investment (BOI) of Thailand to grant tax and […]
International Headquarters and International Trade Centers
Siam Legal has extensive experience in working with foreign investors to help them establish their business operations in Thailand. For the convenience of our foreign clients, we prepare brief translations and synopses of Thai government announcements that directly or indirectly affect them. Recently, on January 15, 2015, the Department of Business Development issued an announcement […]
Types of Foreign Business Authorization
A common source of confusion for foreign entrepreneurs in Thailand is the difference between a Foreign Business License and a Foreign Business Certificate. Both documents are a form of authorization for foreigners to engage in any business that are restricted under the Foreign Business Act of 1999, but which to apply is completely different situations. […]
Proposed Debt Collection Act
Just mid last year, the National Legislative Assembly of Thailand voted to accept, in principle, the terms of the Debt Collection Act. Drawing inspiration from analogous laws in the United States and Australia, this new legislation will act as a consumer protection law protecting consumers from abusive practices on the part of debt collectors. The […]
Legality of E-Signatures in Thailand
With the increasing spread of internet usage and electronic delivery of documents, the demand for clarity on the legality for electronic signatures in Thailand is growing. E-Signatures (electronic signatures) are markings, letters, numbers, or symbols that are created in electronic form that establish the signatory acceptance of the contents of the electronic document. The benefits […]
