100% foreign ownership is one of the key advantages granted by the BOI (Board of Investment) to business projects. Most approved projects benefit from this privilege. However, there are exceptions. Criteria for foreign shareholding in BOI projects: — For projects under List 1 of the Foreign Business Act, Thai individuals or legal entities must hold …
Can BOI Company Shares Always Be 100% Foreign-Owned? Read More »
What should you pay attention to in an off-plan condominium purchase agreement? Construction timeline and transfer of ownership The contract must clearly specify the construction completion date, including both year and month. Developers usually reserve the right to extend the срок by up to one year. Consequences of delays* Option 1:The buyer terminates the contract, …
Construction Delays and Unfinished Projects: What to Watch for Read More »
Recently, clients and agents have increasingly been asking about the advantages and specifics of purchasing real estate through a company registered in the BVI (British Virgin Islands). This ownership structure has both pros and cons that should be carefully considered. What is a BVI company? A BVI company is an offshore entity registered in the …
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 …
