High Level Overview of Steps Required to Register a Private Limited Company in Thailand
The steps required to establish a private limited company in Thailand are:
Reservation of Name
The first step involved in establishing a Thai company is to file via online an application to register the company’s proposed name(s) with the Registrar (the Registrar) of the Partnerships and Companies Registration Office, Department of Business Development (DBD), Ministry of Commerce. Within one...
Practical Tip on Arbitration Clauses for Thailand that Allows You to Have Your Cake and it Too.
There is little dispute that international arbitration is the best way to resolve cross-border disputes. A 2018 International Arbitration Survey carried out by Queen Mary University of London in partnership with the White & Case law firm demonstrates that international arbitration is the accepted and expected means of resolving cross border disputes. The survey reports that 97% of the...
Higher Returns for Property, Tourism, Entertainment, etc. Sectors After Pandemic Ends
Higher Returns in Tourism, Property, etc., after the Pandemic Ends
The Bangkok Post reported on 20 November 2020 that “Thailand’s biggest manager of distressed assets is bracing for another difficult year in 2021, as the economy faces more headwinds from the pandemic”. This article goes on to quote Bungyong Visatemongkolchai, the chairman of Bangkok Commercial Asset Management Plc (BAM) as...
Top 12 Things to Keep in Mind When Planning on Doing Business in Thailand
The top 12 things to keep in mind when planning to do business in Thailand:
1. Foreign Ownership of Companies and Land: This is often a surprise for business people and lawyers operating in more open economies, but foreigners are prohibited from owning land (absent narrow exceptions) and foreign majority owned businesses are prohibited from engaging in a wide range of...
Facing the Foreign Business Act
To legally engage in activities restricted under the FBA, an alien company must obtain a Foreign Business License (“FBL”) or a Foreign Business Certificate (“FBC”) from the DBD. This is often easier said than done, but there are some exceptions.
Compliance in the Time of Covid
Covid-19 has created a perfect storm for regulatory lapses and failures: an unprecedented combination of business and regulatory disruption in a condensed time of period. Compliance requirements and safeguards are ignored, and compliance investigations hindered, delayed, or canceled. But do not expect the Department of Justice or the Securities and the Exchange Commission(“SEC”) to relax...
Compliance Investigations in Thailand: Caste and Candor
There is one word that should start any real discussion about corruption in Thailand, and that word is Sakdina (ศักดินา). Sakdina is a historical system of social hierarchy that went so far as to assign a specific numerical rank to every person in Thailand depending on their status. Although officially abolished, it persists, in a less recognizable form, to this day. Tourists and first-time...