Price Sanond - Lawyers in Bangkok, Thailand

A+ R A-
Loading...
http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/6093211.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/9626192.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/7118033.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/9296074.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/9565345.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/1818216.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/9613738.jpg http://www.pricesanond.com/components/com_gk3_photoslide/thumbs_big/590003handshake.jpg
Text

Longstanding relationships throughout Asia.

Long-standing counsel to major multinational corporations in Thailand.

Experience matters - one of Thailand’s oldest law firms.

An established practice representing major Japanese companies in Thailand.

Go to our Knowledge section to access information from our library.

Responsive to the needs of clients in a dynamic business environment.

Deacons Google Map Address

A fast-growing economy and a fast-changing business environment.

Real Local Experience, Real Business Solutions.

Knowledgebadge

badge
Prev Next

Mortgages and Other Forms of Security Under Thai Law

Security is collateral that is provided to guarantee fulfillment of an obligation. The obligation is often a debt, but this is not always the case. The term "mortgage" is often used interchangeably with the term "security". From the perspective of a creditor, the primary value of security is that a secured creditor should, in theory, be able to force a sale of the collateral and use the proceeds to pay the secured debts ahead of other creditors (although in many jurisdictions bankruptcy and reorganization proceedings often place limitations upon such rights). Security can take many forms; in some jurisdictions security interests are not only available against real estate, but also against inventory, accounts receivable, equipment and even intangible property such as intellectual property rights. The types of property that can be mortgaged in Thailand in comparison to other jurisdictions, however, are quite limited. In this article, we discuss some forms of securi...

Category: Banking & Finance

Read more

Income Tax Reduced for Juristic Entities

On 21 December 2011, the Thai Government announced in Royal Decree (No. 530) B.E. 2554 the following reductions to juristic income taxes:

Category: Taxation

Read more

Litigation & Arbitration in Thailand

Thai Courts will not enforce foreign judgments or forum selection (choice of court) clauses.  This can lead to some interesting and counterintuitive results when trying to negotiate the resolution of a dispute over a contract that has a forum selection clause that purports to provide a court outside of Thailand with jurisdiction over that dispute.

Category: Dispute Resolution

Read more

Intellectual Property Rights

Thailand recognises intellectual property rights and, in general, intellectual property protection legislation is consistent with international practice . . . Thailand is a signatory to several international agreements and conventions pertaining to intellectual property rights. Despite this legislative framework for the protection of intellectually property rights, many intellectual property right holders complain about the effectiveness of enforcement practices in Thailand.

Category: Intellectual Property

Read more

Real Estate in Thailand

As a general rule (there are exceptions) foreigners cannot directly own land in Thailand. Indeed, criminal penalties (fines and imprisonment) potentially apply if a foreigner illegally owns property in Thailand . . . Faced with restrictions on land ownership, nominee arrangements are often proposed using Thai private limited companies or other structures. Such arrangements pose substantial risks . . .

Category: Property

Read more

Securities 101

Thailand’s Securities and Exchange Act B.E. 2535 is the main source of securities legislation, and the Securities and Exchange Commission of Thailand (SEC) performs the functions of the capital market supervisory agency with the status of an independent state agency. Most large public companies in Thailand list their shares on the Securities Exchange of Thailand (SET), the country’s main securities exchange. Currently over 500 listed companies with a total market capitalization in excess of US$250 billion are traded on the SET.

Category: Securities

Read more

Workplace Relations in Thailand

The climate for workplace relations in Thailand is generally very stable and hence favorable for foreign investors. Large-scale, acrimonious labour disputes are relatively uncommon in Thailand. Labour relations are, however, much more highly regulated than they are in countries such as the US. For example, Thailand does not have “at will” employment.  Thai labor law tends to be more prescriptive than U.S. labor law.

Category: Employment & Labour

Read more

The Dodd-Frank Act: Whistle-blower Rewards in FCPA Cases

…but it [the Frank-Dodd Act] also permits whistle-blowers in Foreign Corrupt Practices Act ("FCPA") and securities fraud cases to claim a 10% to 30% reward in enforcement actions where the penalties recovered exceed U.S.$1 million.  Because penalties in several recent FCPA cases have been in the hundreds of millions of dollars, these provisions of the Dodd-Frank Act could have an important effect on FCPA enforcement.

Category: Anti-Corruption Laws

Read more

What is the NBTC?

The Senate’s appointment of 11 members to the National Broadcasting and Telecommunications Commission (NBTC) in September of 2011 and the investigation into the appointment process by the Department of Special Investigations have attracted considerable media attention recently, but what is the NBTC and what are its powers and duties?

Category: Telecommunications

Read more

Thai Business Structures

A private limited liability company is commonly used when a more permanent presence is needed in Thailand. Up until 1 July 2008, a private limited liability company was required to have at least seven shareholders. Starting 1 July 2008, a private limited company only requires three shareholders. A private limited liability company is managed by a board of directors responsible to the company's shareholders…

Category: Corporate/M&A

Read more

Work Permit and Visa Rules in Thailand

Any foreigner working in Thailand must have a work permit before commencing work, and the definition of work is extremely broad. Work is defined as "engaging in work by exerting energy or using knowledge whether or not in consideration of wages or other benefits." Many foreigners find this broad definition of work counterintuitive because it can encompass such short-term activities as participating in a single business meeting.

Category: Visas & Work Permits

Read more

Investment Restrictions Generally

The most important law governing foreign investment is the Foreign Business Act (FBA). The FBA restricts "aliens" [foreigners, defined in terms of share capital] from engaging in an exceptionally broad range of business activities…The FBA imposes substantial penalties on both aliens and Thais who acts as "nominees" of an alien for purposes of violating the FBA, but provides no guidance on what constitutes an illegal nominee for purposes of the FBA.

Category: Investment Related Laws

Read more

Thailand’s Product Liability Law and Consumer Case Procedures Act

The Product Liability Act provides that the plaintiff only carries the burden of proving that the damage was caused by a product in “ordinary use or storage”, and explicitly states that the plaintiff does not have to prove that the damage is due to an act of the business operator. There is no requirement that the plaintiff prove that the product forming the subject of the claim is an “unsafe product”.

Category: Consumer Protection and Regulatory Compliance

Read more

Overview of Thai Bankruptcy Reorganization Law

Bankruptcy laws often require courts and parties to make hard choices. In a bankruptcy there is simply not enough money to satisfy everyone, and difficult decisions must be made about who gets what. In a bankruptcy, property is seized, reputations are ruined, contracts are dismembered and jobs are lost. Thai law only provided for the liquidation of bankrupt parties up until the late 1990s and this procedure was used very infrequently. Following the 1997 financial crisis in Southeast Asia,...

Category: Insolvency & Restructuring

Read more

Introduction to Relevant Laws

The laws and regulations in this area are complicated and sometimes overlap. Further, consistent with the growth of the Thai economy and the emergence of a larger middle class, Thai law, custom and practice is changing rapidly in this area, particularly in the area of zoning and new requirements for environmental impact assessment reports.

Category: Environmental and Construction

Read more

Hotels & Hospitality Sector in Thailand

…various enterprises locally and from all over the world have already set up and operating in Thailand and additionally are in various stages of planning future new hotels, resorts, serviced apartments, timeshare structures, fractional ownership arrangements, condotels, destination or vacation clubs…In structuring any types of hospitality products, a wide variety of legal issues and processes arise and need to be addressed and implemented.

Category: Hotels & Hospitality

Read more

Newsbadge

badge
Prev Next

New Mortgage Laws Impose Hurdles For Mortgagees

Mortgages from Thai entities are often provided to creditors as a form of credit support.  Under a bill to take effect next year, creditors will face new obstacles when seeking and enforcing mortgages from Thailand.  Please see our article for a description of the potential impact on creditors here.

Read more

AMCHAM Expresses Concern about Rumored Changes to the Foreign Business Act

The American Chamber of Commerce in Thailand (AMCHAM) posted a notice on its website here expressing concern about rumored changes to Thaland's Foreign Business Act.  The notice reads: In reference to news media reports that the Royal Thai Government is preparing a draft bill to amend the Foreign Business Act BE 2542, the American Chamber of Commerce in Thailand (AMCHAM), whose member companies have invested over U.S.$50 billion in Thailand, would like to highlight that it welcomes an opportuni...

Read more

NBTC Sets Targets for 4G Auction

The National Broadcasting and Telecommunications Commission (NBTC) has set targets to revise auction details for the 1800 and 900 megahertz spectrum in January 2015, and to make a new schedule for the auction in July 2015, reports The Bangkok Post. In June, Thailand's post-coup ruling National Council for Peace and Order (NCPO) suspended two spectrum auctions to provide 4G services for one year. The NBTC has permitted 25 megahertz of bandwidth on the 1800 MHz spectrum to be used by concessiona...

Read more

Price Sanond, Bangkok