Southeast Asia today is a rapidly developing region with high economic potential. It is home to countries that many experts predict will take leading positions on the global stage in the future. Particularly fast-growing and stable economies are often referred to as the new Asian “tigers”: Indonesia, the Philippines, Malaysia, and Thailand. Thailand is a …
The banking and financial sector of Thailand consists primarily of domestic and foreign commercial banks. Foreign banks are allowed to operate only within limited scopes, which restricts their ability to compete with Thai banks. Following the 1997 financial crisis, several foreign banks acquired stakes in Thai commercial banks that have branch networks across the country. …
Foreign currency may be brought into Thailand in unlimited amounts. Recipients of foreign currency must either exchange it into Thai baht or deposit it into a bank account. When exchanging or depositing amounts exceeding USD 20,000, it is required to complete a Foreign Exchange Transaction Form (Thor Tor 3) in order to obtain a certificate …
Manufacturing is a serious business. The larger the production, the more complex the business becomes—and, accordingly, the more time and effort it takes to establish.Does this rule apply to Thailand? When it comes to building and launching a factory within an industrial estate, the size of the facility affects only the actual construction timeline, not …
Branch of a Foreign Company A foreign company may establish a branch to conduct business in Thailand. However, there are several reasons why incorporating a Thai company may be a more preferable option than opening a branch: Representative Office of a Foreign Company A foreign company may establish a representative office in Thailand to engage …
Forms of Business Organization — Foreign Companies Read More »
Labor Legislation in ThailandThai legislation governing employment conditions and labor protection includes: the Civil and Commercial Codes, the Labor Relations Act of 1975, the Social Security Act of 1990, the Workmen’s Compensation Fund Act of 1994, and the Occupational Safety Act of 1998. Enforcement of labor laws and inspections across Thailand are carried out by …
