Under a gift agreement, the donor transfers property to the donee free of charge, and the donee accepts such property. The following will also be considered a gift. — The donor releases the donee from obligations that the donee owed to the donor.— The donor performs obligations that the donee owed to third parties. A …
The unfamiliar term Due Diligence literally translates as “proper diligence.” In legal practice, it means a set of actions aimed at obtaining comprehensive information about the asset in which you plan to invest money. Do you need Due Diligence services when buying an apartment or a house in Thailand. To answer this question, it is …
Due Diligence: what you pay a lawyer for. Property purchase in Thailand. Read More »
On March 21, 2019, the Law “On Amendments to the Tax Code” (No. 48) came into force, affecting individuals who regularly receive funds into their accounts in Thailand. The new rules apply in the following cases. — When an individual receives funds into their account or makes deposits, if the number of transactions exceeds 3,000 …
Amendments to the Tax Code dated March 21, 2019. Read More »
March is coming to an end, which means the deadline for personal income tax payment in Thailand is approaching. Previously, we explained the progressive tax rates and how tax is calculated for those receiving salaries in Thailand. We remind you that the tax depends on the amount of income. The employer withholds tax from the …
A loan agreement for an amount exceeding 2,000 THB must be concluded in simple written form and signed by two witnesses. The maximum interest rate under a loan agreement is 15 percent. If interest is stipulated but the rate is not specified, a standard rate of 7.5 percent applies. If no interest is stipulated at …
We are starting a series of articles about contracts in Thailand. We will discuss their types and features, and also try to understand whether it is necessary to sign a contract when entering into various legal relationships. We begin with the common and well-known lease agreement. It is relevant for all foreigners who own property …
Registering a business in Thailand requires a careful approach and proper preparation. To ensure the process goes smoothly without delays, it is important to address key organizational issues in advance. Define the business activities.The first thing to decide is what your company will do. Will it have one or several types of activities. Will special …
The widely discussed news about stricter rules for obtaining retirement visas has concerned foreign nationals of retirement age (50+). In Pattaya, the immigration office has not yet been able to clarify how the new procedures will be implemented after the changes come into force on March 1, 2019. We remind you that under the new …
Changes in the Procedure for Obtaining a Retirement Visa Read More »
You have established a company and now it is time to hire Thai and foreign employees. What should you keep in mind when employing staff. An employment contract is not required to be in written form. Registration of the employee with the Social Security Fund is sufficient. An employment contract is considered indefinite unless otherwise …
What Should Be Considered When Concluding an Employment Contract Read More »
Regardless of whether a will has been made or not, inheritance in Thailand can only be obtained through a court procedure. If no will has been made, in addition to the death certificate, the court must be provided with powers of attorney from all heirs authorizing one person to handle the case, or letters of …
