Real Estate: Transactions and Taxation. Open Training, Phuket
An open training session for real estate agents in Phuket. We would like to thank all participants for their active involvement in the discussion and for their interesting questions.
Posts
Hiring Foreigners as Salespersons — Legal Update
Since June 20, 2020, foreigners in Thailand are allowed to work as salespersons in shops, provided they meet specific requirements set by the Ministry of Labour. Employee requirements: In the first case, before starting work, the work permit must be updated with the relevant details: employer, workplace, and job position. In the second case, the …
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Resale of a Developer Contract
Under conditions of widespread quarantine, purchasing real estate on the secondary market has become more complicated. To register a transaction at the Land Department, either the buyer and seller must be personally present—which is not always possible at the moment—or a power of attorney is required. If both parties have been abroad for a long …
Guaranteed Rental and Force Majeure
The purchase of condominium units from a developer with subsequent guaranteed rental income is a very common practice, especially in Phuket. Many property owners hand their units over to management companies and regularly receive income either as a fixed guaranteed amount or as a percentage of rental revenue generated by the management company. This raises …
Property Insurance
Everyone living in Thailand or planning a long-term stay eventually faces the issue of insurance. At a minimum, this includes health and accident insurance, since medical treatment in Thailand is quite expensive, and a hospital visit without insurance can result in a significant bill. However, many people forget that it is important to insure not …
Force Majeure: Social Security Fund Compensation
On April 17, two Labour Department regulations were published in the Government Gazette regarding measures to support employees in connection with force majeure and the economic crisis. Force majeure Special wage compensation measures apply to employees who: If all conditions are met, the employee is entitled to compensation equal to 62% of their daily wage, …
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Coronavirus: Labour Relations
The current global situation has the greatest impact on employer–employee relations. Employers are asking whether they should continue paying salaries when there is no work, or whether they should lay off staff. Employees, on the other hand, are asking what will happen if they are dismissed or sent home on unpaid leave without the ability …
Tax Incentives for Businesses and Individuals
Due to the spread of coronavirus, many companies in Thailand have entered a financial crisis, especially those providing tourism services or otherwise related to the tourism sector. In February–March, the government approved tax relief measures to support companies, primarily small and medium-sized enterprises (SMEs), aimed at reducing costs. Key tax relief measures: Reduction of withholding …
Layoffs and Business Closures due to COVID-19
Many companies are closing their offices and allowing employees to work remotely from home online. But what should those do whose work has essentially disappeared due to the outbreak? What should business owners do with employees for whom there is no work? On Friday, the Social Security Fund approved the compensation amount for employees registered …
Coronavirus as Force Majeure
What are force majeure circumstances? Can coronavirus be considered force majeure? How is force majeure applied in contractual relations? Circumstances related to the coronavirus have affected many parties. Restrictions on cross-border movement, quarantine measures, and factory shutdowns all impact the performance of contractual obligations, both internationally and domestically. Laws and contracts typically provide liability for …