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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 »

Recently, clients and agents have increasingly been asking about the advantages and specifics of purchasing real estate through a company registered in the BVI (British Virgin Islands). This ownership structure has both pros and cons that should be carefully considered. What is a BVI company? A BVI company is an offshore entity registered in the …

Real Estate Ownership via a BVI Company Read More »

Taxation of transactions involving services provided to foreign companies, as well as services received from foreign companies, has its own specifics. If you are engaged in the import/export of services, it is important to carefully consider VAT and withholding tax obligations. If these aspects are not taken into account when structuring a deal and pricing …

Taxes on Import/Export of Services Read More »

On June 9, 2022, cannabis was removed from the list of controlled narcotic substances. The public largely interpreted this as a green light for action. Within a month and a half, Thailand turned into a cannabis hub of Southeast Asia, with numerous shops and cafés opening where cannabis products with varying THC levels could be …

Cannabis, Marijuana, Hemp — Legalization in Thailand Read More »

In which cases can foreigners fully own a legal entity established in Thailand: — BOI / IEAT-promoted companies, provided their business activities do not fall under List 1 of the Foreign Business Act — Representative offices of foreign companies that do not engage in business activities — Export companies, provided that goods are sold exclusively …

When Can a Company Be Fully Foreign-Owned in Thailand? Read More »

There are several possible options for relocating specialists or a company to Thailand: 1) Registering a Thai company and employing foreign specialists (Non-B visa + Work Permit) — Allows legal employment after obtaining a work permit, typically in the company’s office— Family members (spouse and children) can be attached to the visa— Annual extensions of …

Employee Relocation to Thailand Read More »

The Smart Visa is a relatively new type of visa designed to attract highly qualified foreign professionals, executives, entrepreneurs, and investors who wish to work or invest in Thailand’s targeted industries: — Biofuels and biochemicals— Digital economy— Medical hubs— Automation and robotics— Aviation and logistics— Environmental management and renewable energy— Alternative dispute resolution— Agriculture and …

Smart Visa in Thailand Read More »

We have previously discussed that foreign investors may own 100% of a company in Thailand and that such a company can receive corporate income tax exemption for up to 8 years under the Thailand Board of Investment (BOI). What are the stages of obtaining a BOI certificate for Your project? 1) Preliminary analysis of the …

Stages of Obtaining a BOI Certificate Read More »

In September, the Thailand Board of Investment (BOI) consolidated three business activities — software, e-commerce, and digital services — into a single category: “Software development, digital service platforms, or digital content” (5.10). Incentives under the new category The benefits include: – Corporate income tax exemption for up to 8 years– Import duty exemption on machinery– …

BOI: Changes in the E-commerce Sector Read More »

As a property owner in Thailand, You can either use Your property for personal purposes or generate rental income. If You are not managing rentals yourself, income is typically generated by a management company or real estate agency, which will retain a portion as their fee. Basic rental model Rental is straightforward:– If the property …

Rental Income Read More »