Peer-to-peer lending (P2P or person-to-person lending) is a method of borrowing and lending money between equal parties without the involvement of a bank or other financial institution. Loans are provided online through lending platforms and creditworthiness assessment tools. Does P2P lending exist in Thailand? P2P lending has been officially allowed in Thailand since 29 April …
On October 31, the Contract Committee issued a notification declaring that the business of leasing residential properties is a Controlled Business. Background The first notification was published on February 16, 2018. It: The new notification introduces more flexible lease conditions for business operators. Scope of Application These rules apply only when the landlord is a …
The government has introduced reduced fee rates for registering real estate transactions at the Land Department: The reduced property transfer fee applies only to: The new rules are already in effect and will remain valid until December 24, 2020. For inquiries regarding registration costs, please call: +66 87 348 5703.
Registration of foreigners at their place of residence in Thailand is governed by the Immigration Act of 1979. TM30 and TM28 Responsibilities According to Section 38 of the Act: According to Section 37: TM28 Requirements According to Section 37 (paragraph 3): According to Section 37 (paragraph 4): Example If you travel for the weekend from …
TM30 and TM28: Registration of Foreigners at Place of Residence Read More »
Starting from October 16, 2019, when registering a company with the DBD (Department of Business Development), the company will be automatically registered as an employer with the Social Security Office (SSO). The 13-digit company registration number (ID, which is also the tax number) will now also serve as the social security number. Background Previously, a …
According to new legislation, having a Yellow House Registration Book may significantly reduce property taxes starting from 2020. Conditions for Obtaining a Yellow House Book (with a foreign owner’s name included) You must be staying in Thailand on a long-term visa, such as: Required Documents Additional Documents to Prepare Additional Requirements Author: Alexandra Agapitova.All rights …
Amendments to the Labor Protection Act came into force on May 5, 2019. It should be noted that the new rules make life more difficult for employers, while employees gain more rights and protections. 1. Penalties for Late Payments to Employees Penalties apply for delays in payment of: The employer must pay a penalty of …
We conclude the topic of defamation with answers to common questions and key takeaways. Legal commentary is provided in Parts One and Two of the articles on defamation. Do the laws protect foreigners, or only Thai citizens? Defamation laws apply regardless of citizenship or nationality of both the offender and the victim. The justice system …
Insults, Threats, Defamation: Questions and Answers Read More »
The Thai government has approved a draft law proposed by the Anti-Money Laundering Office (AMLO), under which electronic transactions exceeding 50,000 THB will be subject to monitoring, according to The Nation Thailand. Background In accordance with international standards, Thailand currently does not comply with 17 requirements related to the prevention of money laundering and terrorist …
In Part One of this article, we discussed the provisions of the Criminal Code related to defamation. In this part, we will review other applicable laws. Computer Crime Act The following actions: are punishable by: Publishing in a publicly accessible computer system an image of another person that has been: in a way that is …
