Taxation of transactions involving services provided to foreign companies, as well as services received from foreign companies, has its own specifics. If you are engaged in the import/export of services, it is important to carefully consider VAT and withholding tax obligations. If these aspects are not taken into account when structuring a deal and pricing …
According to the Thai Revenue Code, a tax resident is a Thai national or a foreigner who resides in Thailand for more than 183 calendar days within a calendar year. However, for a foreigner to file taxes as a tax resident, it is mandatory to obtain a Tax Identification Number. This requires confirmation of a …
In Thailand, along with purchasing a condominium in full ownership (freehold), long-term lease agreements (leasehold) are also widely used. Both methods are actively applied in real estate transactions, but they are governed by different laws and have different legal implications. What is Freehold? Freehold is the purchase of a condominium in full ownership. A sale …
On June 9, 2022, cannabis was removed from the list of controlled narcotic substances. The public largely interpreted this as a green light for action. Within a month and a half, Thailand turned into a cannabis hub of Southeast Asia, with numerous shops and cafés opening where cannabis products with varying THC levels could be …
Cannabis, Marijuana, Hemp — Legalization in Thailand Read More »
In which cases can foreigners fully own a legal entity established in Thailand: — BOI / IEAT-promoted companies, provided their business activities do not fall under List 1 of the Foreign Business Act — Representative offices of foreign companies that do not engage in business activities — Export companies, provided that goods are sold exclusively …
When Can a Company Be Fully Foreign-Owned in Thailand? Read More »
There are several possible options for relocating specialists or a company to Thailand: 1) Registering a Thai company and employing foreign specialists (Non-B visa + Work Permit) — Allows legal employment after obtaining a work permit, typically in the company’s office— Family members (spouse and children) can be attached to the visa— Annual extensions of …
The Smart Visa is a relatively new type of visa designed to attract highly qualified foreign professionals, executives, entrepreneurs, and investors who wish to work or invest in Thailand’s targeted industries: — Biofuels and biochemicals— Digital economy— Medical hubs— Automation and robotics— Aviation and logistics— Environmental management and renewable energy— Alternative dispute resolution— Agriculture and …
We have previously discussed that foreign investors may own 100% of a company in Thailand and that such a company can receive corporate income tax exemption for up to 8 years under the Thailand Board of Investment (BOI). What are the stages of obtaining a BOI certificate for Your project? 1) Preliminary analysis of the …
In September, the Thailand Board of Investment (BOI) consolidated three business activities — software, e-commerce, and digital services — into a single category: “Software development, digital service platforms, or digital content” (5.10). Incentives under the new category The benefits include: – Corporate income tax exemption for up to 8 years– Import duty exemption on machinery– …
As a property owner in Thailand, You can either use Your property for personal purposes or generate rental income. If You are not managing rentals yourself, income is typically generated by a management company or real estate agency, which will retain a portion as their fee. Basic rental model Rental is straightforward:– If the property …
