Thailand Income Tax
Thailand Income Tax. Thailand’s personal income tax (PIT) regime is a residence-based system with several features that routinely surprise long-stayers, remote workers and people with cross-border assets: (1) a strict 180-day residency test; (2) a recent reinterpretation of taxation on foreign-sourced income brought into Thailand; and (3) a mix of withholding-tax options and targeted exemptions […]
Set Up a Representative Office in Thailand
Setting up a Representative Office in Thailand is a low-cost and low-maintenance way to explore a new market. But it’s still important to play by the rules. Representative offices manage service businesses on behalf of a foreign parent company or affiliated companies. They’re allowed to conduct five permitted activities but cannot generate revenue or receive […]
Foreign Business Act
The Foreign Business Act B.E. 2542 (1999) (“FBA”) is Thailand’s principal statute regulating the participation of foreigners in business activities within the Kingdom. Enforced by the Department of Business Development (DBD) under the Ministry of Commerce, the FBA defines what constitutes a “foreign business” and outlines specific business categories that are either prohibited or restricted […]
Thai Business Partnerships
Thai Business partnerships are a common structure for local and foreign entrepreneurs seeking to establish ventures collaboratively. Governed by the Civil and Commercial Code, partnerships in Thailand come in three distinct forms: Ordinary Partnerships, Registered Ordinary Partnerships, and Limited Partnerships. Each type has unique characteristics, advantages, and regulatory requirements tailored to different business goals. 1. […]
Registering a Company Under the Thailand Board of Investment
Registering a company under the Thailand Board of Investment can provide foreign investors with a range of incentives. However, the benefits vary depending on criteria such as the type of business and the amount of invested capital. In addition, certain perks are exclusive to BOI-promoted companies such as full or majority foreign ownership. Our team […]
Mergers & Acquisitions in Thailand
Mergers & Acquisitions in Thailand. Thailand, a Southeast Asian powerhouse known for its tourism industry and cultural richness, also boasts a dynamic business environment. Mergers and Acquisitions (M&A) play a significant role in shaping Thailand’s corporate landscape, allowing companies to expand, consolidate, and unlock new opportunities. This article dives into the world of M&A in […]
US-Thai Treaty of Amity
Under the US-Thai Treaty of Amity, American citizens and companies maintain majority ownership of their Thailand incorporated business while receiving national company privileges. They are exempt from the restrictions imposed by the Foreign Business Act. To receive these benefits, qualifying business entities must be registered as an Amity Treaty company. GPS Legal can assist with […]