Legal Framework
From The Report: Thailand 2014
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Featuring a legal framework viewpoint from Yuthana Promsin, Partner and Co-founder of Jus Laws & Consult, this chapter examines Thailand’s status as a regional investment hub while guiding business investors through the legal system, with particular focus on foreign ownership.
Articles from this Chapter
In good company: A look at the various types of businesses that can be established
Outside looking in: A rundown of the regulations concerning foreign investmentOBGplus
Of the business bases in the ASEAN region, Thailand is well placed to attract substantial foreign direct investment. The Foreign Business Act of 1999 (FBA) directly governs foreign investment in the country. Under the FBA, foreign businesses are separated into two categories: legal entities not registered in Thailand and legal entities registered in Thailand that have the following characteristics. Limited company or public limited company with 50% or more of its capital shares held by foreigners; Registered…
The going rates: Taxes as applied to individuals and businesses in the countryOBGplus
There are two categories of income tax in Thailand, personal and legal entity. Personal income tax is a direct tax that every person with an income is required to pay, and also any person who died in that fiscal year, undivided estates, and ordinary partnerships or groups of people that are not a legal entity. Personal income tax is based on assessable income, which is not limited to money but includes any asset or benefit that could be calculated as money. Moreover, tax that other people pay instead…
Home from home: Foreign ownership rules for land and condominiumsOBGplus
Ownership Of Land By A Foreigner In theory foreigners cannot own land in Thailand, but in practice they can own up to 1600 sq metres for residential purposes under a Board of Investment (BOI) regulation (Land Code Section 96 bis) that demands, for land purchase, BT40m ($1.3m) to invest in Thailand in special assets or government bonds which benefit the Thai economy. After gaining ownership of land by this method, ownership cannot subsequently be inherited. A foreign company which invests…
Yuthana Promsin, Partner & Co-founder, Jus Laws & Consult, on Thailand’s status as a regional investment hubOBGplus
In recent years Thailand has enacted a number of legal reforms to improve the regulatory environment for foreign investors and augment corporate governance. These measures have positioned Thailand as an example of an emerging Asian economy that has developed comprehensive corporate and criminal legal frameworks to encourage trade and investment. The benefits of these reforms are clear: Thailand is increasingly recognised as an investment hub for the ASEAN region, and Cambodia, Laos, Myanmar and Vietnam…
