The period for remitting minimum capital into Thailand for foreign business operators subject to privileges under treaties and trade agreements has recently been further relaxed by Thailand’s Ministry of Commerce. On 28 August 2019, three Ministerial Regulations were replaced by …
The Thai press (here and here) is reporting that three offices of a regional law firm were raided by the Thai Department of Special Investigations and other agencies on 15 August 2018 in connection with the alleged use of nominees …
On 6 July, the police in Phuket seized 29 boats and 50 buses of the Tranlee Travel Company, suspected of being an “illegal nominee tour firm for foreigner interests”. Various Thai laws criminalize so-called nominee shareholding arrangements and it’s not …
Most commentators and newspapers are predicting that while Brexit will affect the world economy generally, it will have little affect on the Thai economy specially. Siam Commercial Bank Economic Intelligence Center had this to say about Brexit’s likely affect on the …
While there has been much speculation over the past year as to whether or not Thailand would join the US-led Trans Pacific Partnership (TPP), Thailand now appears to be favoring a more Asia-focused trade proposal known as the Free Trade Area …
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 …
Access our new article providing information on the Department of Business Development (DBD), probably one of the most important departments for business persons doing business in Thailand, by clicking here. The Corporate/M&A and Investment Related Laws sections of the Knowledge part of our …
"Prime Minister Shinzo Abe plans to announce on Friday Japan's intention to join negotiations for an ambitious trans-Pacific free-trade pact, a move that launches the final—and possibly most important—phase of his economic agenda: long-term growth strategies", reports the 14 March …
On 8 March 2013, Fitch upgraded Thailand's long term foreign denominated currency debt one level to BBB+ from BBB. According to a statement from Bloomberg: "That is three levels above junk and brings it line with Standard and Poor's and Moody's …
As the benchmark SET index continues to reach record highs, 2013 is expected to be a record year for IPOs according to the Stock Exchange of Thailand. Newly listed companies on Thailand's SET and Market for Alternative Investment (MAI) …
A "Thai government delegation [to Europe]" announced that a "Thai-EU free trade agreement will be concluded in less than two years, as part of Thailand's commitment towards free trade and competitiveness enhancement" (bolded for emphasis), a 7 March 2013 front page cover story …
Thailand’s Board of Investment (BOI) is soliciting recommendations through 28 February 2013 on a new investment policy for the BOI. You can submit your suggestions by clicking here. The BOI provides investment promotion incentives to foreign and Thai businesses investing in certain designated activities. …
Thailand's Fiscal Policy Office (FPO), Ministry of Finance, is predicting around 5% growth in 2013. The FPO's Thailand’s Economic Outlook Projection 2012 and 2013 states that the Thai economy rebounded faster from the floods in 2011 than expected and will have a …
Thailand's Ministry of Commerce (MOC) has set a target of 8-9% export growth in 2013. The MOC says growth in 2013 will be primarily driven by expansion in shipments of automobiles, electrical appliances, rubber products, construction raw materials, canned and processed …
Through the first eight months of 2012, approvals for foreign business licenses under the Foreign Business Act (FBA) were up 25 percent compared to the first eight months of 2011, according to an article in The Nation. A total of 218 approvals …
The Thai Board of Investment (BOI) intends to change the criteria it uses to identify projects eligible for promotional privileges, eliminating privileges for some types of projects while extending privileges to other types of projects. The BOI provides promotional privileges to companies engaged in projects …
"The International Chamber of Commerce [ICC] has urged Thailand to create a more business-friendly environment or risk falling behind its Asian neighbours,…", reports the Bangkok Post. The ICC specifically cited the absence of a clear arbitration process to settle disputes, …
"The Business Development Department will team with the Department of Special Investigation (DSI) to establish a clear framework for nominees in Thai companies early next month and focus on checking almost 27,000 firms," reports the 19 July 2012 edition of …
Although foreign investments are encouraged by the Thai government, foreign equity restrictions and Thai participation requirements exist for many businesses. Foreign investment is controlled by a range of legislation, cabinet policies, trade association regulations, laws and other controls. Criminal penalties …
"The scope of talks for the Thailand-EU free trade agreement (FTA) will likely be concluded and submitted for parliamentary endorsement next month", reports the 9 July 2012 edition of the Bangkok Post. Unlike the FTA between Thailand and China, which is very limited …
The Board of Investment (BOI) has reported that the number of applications it received in May increased by 64.5 percent over the same month last year, with the value of applications increasing by 54.4 percent. Chemicals, paper and plastics were …
For the first time since the floods, factory output has increased in Thailand, according to a report issued by Reuters. Government officials and many economists are predicting a gradual recovery from the severe flooding that effected Thai industrial production last year. Bloomberg …
Since the election of President Thein Sein last year, Myanmar has gradually introduced political and economic reforms. Internet and media controls have been relaxed, Nobel laureate Aung San Suu Kyi was released from house arrest and her political party was allowed to contest and win seats in parliament. …
The Bangkok Post has reported that the Board of Investment (BOI) has already received nearly half of its goal of 600 billion Thai baht in applications for incentives as of the end of April. Dr. Atchaka Sibunruang, the BOI …
The Ministry of Justice recently promulgated a regulation that expands the authority of Thailand's Department of Special Investigation (DSI) – sometimes described as Thailand's equivalent to the U.S.'s FBI- to investigate, among other matters, foreign business operations. For example, the DSI now …
According to an article in the Nation, the Board of Investment has approved new incentives to promote projects in Ayutthaya and Pathum Thani provinces, which were particularly hard hit by the 2011 flooding in central Thailand. Following the flooding, there …
We have a new article on the Amity Treaty exception to the Foreign Business Act authored by two PriceSanond lawyers recently published by AMCHAM. To access the article click here.
PriceSanond is proud to participate in and help organize a visit of the Dai-Ichi Tokyo Bar Association to Bangkok. The visit will include a meeting with the Lawyers of Council of Thailand, a visit to the Civil Court and several dinner receptions between Thai and Japanese lawyers on 19 and 20 March 2012.
Thailand’s Department of Special Investigation (DSI) says it plans to crackdown on the use by foreigners of proxies or nominees to “operate businesses which are normally off-limits to them [foreigners]” after the agency was given authority to investigate nine more …
The Ministry of Commerce takes the position that the granting of a loan is considered a restricted activity under Thailand's Foreign Business Act (FBA). However, on 1 December 2011 by the Deputy Minister of Commerce (Mr. Siriwat Kachornprasart) proposed that …
The BOI issued a release on 30 November 2011 that the minimum investment capital required for a project entitled to BOI approval has increased from 80 million Baht to 200 million baht (excluding any investments in land or for working …
Thai Prime Minister, Ms Yingluck, said “Thailand would…consider joining the Trans-Pacific Partnership [(TPP)], a multilateral trade deal described by Mr Obama during the recent Apec Summit in Hawaii as a ‘21st century state of the art’ initiative”, reported the Bangkok …
Typical residential property insurance policies in Thailand do not include flood damage coverage. Although some policies include cover for damage caused by water leakage in their standard product packages, generally those packages specifically exclude flood damage coverage. In …
The Cabinet approved Board of Investment incentives to instill confidence in investors following the floods in Thailand. For more information, click here.
Following the floods that have caused major devastation in Thailand and may halve Thailand’s GDP growth, the Thai Prime Minister has proposed a mega-project called “New Thailand”, which will involve up to 800 Billion Baht in subsidies and legal reforms …
Thailand does not have a monopoly on red tape, but it seems to have more than its fair share. Activities that may take a day or two in Hong Kong, Singapore or San Francisco, can take a week or two in …
Thailand has expansive and byzantine restrictions on foreign ownership of businesses – far out of line with current international standards. Thailand has also suffered tremendous economic damage from the recent flooding. And Thailand is highly dependent on foreign investment to …
A prominent and well respected Japanese economist, Professor Shujiro Urata, wrote that “Time is running out for Japan” to join the negotiations on the TPP in a very interesting opinion piece for the Bangkok Post. But what is the Thai …
Citing free trade pacts with other members of ASEAN and worrying that Thailand will fall behind, the Thai Chamber of Commerce “has urged the government to speed up work on free trade agreements (FTAs) with the European Union and the …
“The Department of Industrial Works (DIW) plans to revise its Factory Act to make it easier for businesses with good credit, especially in environmental issues, to expand investment”, reports the 3 September 2011 edition of the Bangkok Post. The DIW …
Suzanne Rosselet, deputy director of the World Competitive Centre, is quoted as saying, “[w]hile [Thailand] has been doing well in basic infrastructure, there are shortfalls in technological and scientific infrastructure, as well as health care and education”, in the 30 …