Thailand Law Blog
Foreign Currency Requirements for Purchasing a Condo
The Condominium Act of 1979 is restrictive of foreign ownership of condominiums in Thailand, but generally allows it for foreigners who permanent residents, or those who have entered the country on an investment promotion visa, or for those who have fulfilled certain requirements related to the transfer or withdrawal of foreign currency. In regards to […]
Acquisition of Land in Thailand by a Foreign Government
The acquisition of land or a condominium unit in Thailand by a foreign government for official use, such as for use as an embassy or consulate, is not covered by any specific legislation. Therefore, assuming that a foreign government intended to acquire land or other immovable property in Thailand for official use, such an acquisition […]
Foreigner’s Right to Value of Land in Thailand
An important principle of Thai law regarding foreign investment in land is that where the foreigner has purchased land, but is not able to legally register ownership of the land, he or she is entitled to the monetary value of the land. This principle is demonstrated in the following Land Department Advisory Opinion: During litigation […]
Disposal of Land Owned by a Foreigner
According to the Land Code of Thailand, it is unlawful for a Thai national to own land as the agent of a foreigner. The act of doing so entails criminal penalties for both the Thai national and the foreigner involved. Furthermore, one consequence of “nominee landownership” as it is called, is that the land that […]
Acquiring Land with a Foreign Spouse
The primary concern behind Thai government regulations related to the acquisition of land by a Thai national married to a foreign spouse is the issue of nominee landownership. Under the Land Code of Thailand, the act of a Thai national owning land as an agent of a foreigner, which is to say, for the benefit […]
Acquiring Land in Thailand with a Foreign Spouse
At this time, Thailand does not prohibit its citizens who are married to (or cohabiting with) foreign spouses from acquiring land. Nevertheless, the acquisition of land by Thai nationals who are married to foreign spouses is extensively covered by government regulation and it is conditioned on the legal principle that any land owned by the […]
Income Tax Implications for Loans Between Private Companies
A Revenue Department Advisory Opinion issued on January 21, 2015 provided guidance regarding income tax implications for loans issued between private companies. The facts were that Company A was registered as a limited company, with an unspecified amount of registered capital, and with no branch offices. The accounting period of the company was April 1 […]
Thailand: Guidance Regarding Zero Percent Value Added Tax
In principle, the Thai value-added tax (VAT) system should only apply to the sale of goods and services that occur within Thailand. However, going strictly according to legal principles, the Thai Revenue Code applies VAT to sale of goods and services outside of Thailand, but applies a tax rate of zero percent, rather than exempting […]
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 […]
Requirements for the Application of Foreign NGOs in Thailand
In the previous articles, we went into some detail regarding the operation of foreign NGOs in Thailand, including a list of information that a foreign NGO must submit to the Committee if it wishes to establish an office in Thailand or to send any of its official to work here. However, we also discussed that […]
