Foreign nationals can open bank accounts in both Thai baht and foreign currencies. Personal presence of the applicant is mandatory when opening a bank account. Who can open a bank account? Foreigners residing in Thailand under long-term visas(work visa, Thailand Elite, and others) must provide documents confirming: Banks may also request additional documents, such as: …
Shareholder rights in a Thai company directly depend on the number of shares they hold. The discussion below refers to ordinary shares, where 1 share = 1 vote. Depending on the ownership percentage, shareholders can be условно divided into several categories. Less than 20% of shares 20–25% of shares More than 25%, up to 50% …
To understand the available property ownership options for foreigners in Thailand, it is first necessary to determine the type of real estate. Each type has its own features, legal framework, and restrictions. 1. Condominium A residential complex consisting of: Each unit is registered under a separate title deed (chanote). Foreigners are allowed to purchase condominium …
How much tax will you pay before receiving net profit from your business? Let’s calculate the maximum scenario using an example of a large company (non-SME) that is a VAT payer. VAT — 7% Many consider VAT a personal expense, but legally it is added on top of the price of goods or services. For …
Sometimes, unexpected taxes appear in a company’s financial statements at year-end. One such item may be the Special Business Tax (SBT) on loan interest. A loan agreement may be informal Even if you have not signed any loan agreements, this does not mean that such loans do not exist within the company. For example: When …
Since 2018, income derived from holding digital assets and cryptocurrency trading has been subject to taxation. In 2022, Notifications No. 380 and No. 424 clarified the reporting requirements for such income. Tax base and reporting Tax residents must include cryptocurrency income in their total taxable income and report it in their annual tax return. The …
In Thailand, most agreements must be executed in simple written form with the signatures of two witnesses — except where mandatory registration with a government authority is required. However, it is important to note that certain types of agreements are subject to Stamp Duty, regardless of whether registration is required. When is Stamp Duty applied? …
Stamp Duty in Thailand: Another Tax to Keep in Mind Read More »
Please note that apostille is not available in Thailand. An apostille is an internationally standardized form certifying the authenticity of a document, recognized by countries that are parties to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (1961). Thailand is not a party to this Convention. There are two possible ways …
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 »
