Foreign entities that fall within the definition of “alien” under Thailand’s Foreign Business Act (FBA) are advised that the provision of services are generally restricted (although there has been a gradual relaxing of this restriction). Such entities nevertheless run afoul …
Thailand’s economy is comprised of many sectors, with manufacturing being one of the more vital ones driving GPD growth. Recent amendments to Thailand’s Factory Act set out new standards for what it takes to establish a factory in Thailand. Just …
The Thai government has offered tax, customs and employment incentives under various schemes for Regional Operating Headquarters (ROHs), International Headquarters (IHQs), Treasury Centers (TCs) and International Trading Centers (ITCs) to attract multinationals looking to set up a regional base of …
Foreign owned businesses in Thailand are restricted from engaging in various business activities by Thailand’s Foreign Business Act (“FBA”). This restriction applies to about 50 types of businesses, including “service businesses”. The term “service businesses” is interpreted broadly to include …
Registering a private limited company in Thailand is multi-step process, with registration fees payable to the Department of Business Development (DBD) at the time of filing the Memorandum of Association (MOA) and when finalizing the registration. These fees were based …
As reported in the Bangkok Post, Thailand’s Department of Business Development (DBD) is proposing to amend Thailand’s Foreign Business Act (FBA), purportedly to bring it in line with changing economic conditions and to strike a balance between protecting Thai investors …
Thailand’s Foreign Business Act (FBA) lists 21 categories of businesses in Annex 3 of the FBA where foreign majority ownership of such businesses is restricted because the government contends Thais are “not yet ready to compete with foreigners”. This list includes “other service …
One of the difficulties facing foreign investors in Thailand has been the requirement that shareholders (or their proxies) and directors be physically present at meetings for purposes of passing resolutions. Circular resolutions, whereby the directors or shareholders pass a resolution …
Originally, the Investment Promotion Act B.E. 2520 (A.D. 1977) (“the Investment Promotion Act”) was enacted because the economic situation in Thailand was affected by a world economic crisis. Under the Investment Promotion Act, a board of investment (the “BOI”) was …
Thailand’s Board of Investment (BOI) is a Thai government agency established to promote investment in a wide range of targeted business activities in Thailand. It provides investment information and services for investors, and grants various incentives and promotions for company projects …
Although many foreign investors are familiar with the Foreign Business Operations Act, B.E. 2542 (FBA), there are some peculiarities about the (FBA) that many foreign investors overlook. Please click the link below to access this article on the peculiarities of …
Thailand’sForeign Business Act (FBA) generally restricts foreign owned businesses from engaging in any “service business” without first obtaining a foreign business license or qualifying under another exemption (more information on the restrictions on foreign owned businesses under the FBA can be …
Foreign investors in Thailand normally become familiar with the restrictions imposed by the three annexes under Thailand's Foreign Business Act B.E. 2542 (FBA) early in their planning process. The annexes list approximately 50 types of businesses (or "restricted activities") where …
Thailand’s Foreign Business Act [FBA]…provides that “alien companies”…are not allowed to engage in a wide range of business activities…There is a significant exception however to the restrictions imposed by the FBA under the [Amity Treaty between Thailand and the U.S.] …
On 25 October 2011, the Thai cabinet approved the following BOI tax incentives in an attempt to restore the confidence of foreigner investors after the flooding crisis. 1. General Measures for Business Operators Affected by the Flood The following …
The Bank of Thailand (BOT) announced that as of 26 March 2011 all businesses in Thailand with import or export operations, overseas investments or liabilities, or investments from overseas investors at or above a specified threshold are required to submit …
Over the last several months the local and international press have carried articles about foreign chambers of commerce and embassies appealing to the Thai government to rethink the draft changes to the Foreign Business Act, B.E. 2542 (FBA), arguing these …
"New" ROH incentives for Regional Operating Headquarters (ROH) were officially enacted by Royal Decree at the end of 2010. The "current" ROH incentives remain in place, however, and an ROH company now may choose to operate under the "new" incentives …
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 …