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A factory is defined as any premise that uses machinery equivalent to five horsepower or more, or that employs seven or more people, with or without any machine, for manufacturing, producing, assembling, packing, repairing, maintaining, testing, improving, processing, conveying, storing or destroying anything included in the classes or types of factories presently listed in the Ministerial Regulations.
Overview of e-commerce laws and regulations in Thailand, BOI requirements, taxation. #e-commerce
Condotels operate as a hotel business inside a condominium complex. This business venture combines attractive advantages for a foreign buyer and provides the ingredients for a successful investment - if done properly. Secure your condotel in paradise.
Overview of legal issues on small business acquisitions in Thailand. The investment structure for the turnkey business. Corporate Due Diligence. Professional services to acquire a small business.
The ownership transfer for a condominium unit at the local land office takes some time and involves certain investigations and internal reporting by the authorities. But it does not aim to protect the buyer against the seller and does not have the character of a condo due diligence.
A superstar is a highly famous actor, singer, musician or sports player. The law firm advises superstars how to become not only famous but also rich. #superstar #thailand
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Thailand's solar energy markets are fragmented and confusing. Send us details of your solar venture plans for a swift legal review of market prospects and the best possible course of action.
Scope and size of investment promotion by the Thailand Board of Investment.
Under Thailand's regulatory framework, a hotel has to apply, apart from other licenses, for a hotel business license. Currently unlicensed hotels are hunted by the authorities and have to fear a close-down. The articles describes options to legalize existing hotel businesses. Secure your hotel in paradise.
In recent years, offshore companies are treated as a pariah and the legitimate use of offshore structures has been defamed as aggressive tax planning, base erosion and profit shifting. However, cross-border structures do not need the applause of the masses but the recognition by experts and, as a consequence, offshore companies play more than ever a vital role for sophisticated tax planning and a tax-driven value creation chain optimization. Many offshore schemes remain hidden behind the curtain, in the wings, although they are perfectly legal and do not need to fear the day light. Others are Panama Papers. How to tax-efficiently offshore the key business value-drivers Regularly, an offshore structure is just a part of […]
The acquisition of condominium units seems to be simple, but most buyers are not happy with the investment. Ask us for a consultancy proposal to avoid a later disappointment. Protect your condo in paradise.
Effective from 09.06.17, the Ministry of Commerce issued a ministerial regulation facilitating the set-up of a representative office. #repoffice
FBA: The laws and regulations of Thailand's foreigner legislation should never be underestimated. However, they can and should be carefully managed and seven deadly sins should be avoided.
Creating and managing marine and aviation ownership structures that provide tax efficient acquisition and operation of major luxury assets whilst ensuring compliance with the ever-changing fiscal and regulatory requirements. #PugnatoriusPosh
Under the label "due diligence" the legal industry offers a broad scope of different tasks. The investigation can clarify legal matters in depth or just scratch the surface of property issues. The buyer has to decide, whether he needs to know the full truth before signing and sealing the property deal - or some times after this. #property-due-diligence
The share pledge scheme is of underestimated complexity. This post names and shames the tools and modules to quasi-protect the foreign investor by a pledge of the shares of the Thai partner.
Thailand's current property development structures attract just a portion of prospective buyers of land, villas and condominium units. For the property developer, it makes economically perfectly sense to invest in a more sophisticated investment structure to facilitate the buyer's concerns and legal considerations.
This post provides a rough overview of the legal and regulatory environment for foreign film producers to use Thailand as the location for movies, reportages, and coverages, music videos, etc. #blockbuster
Thailand's hotel industry should be self-confident enough not to raise weak legal arguments against AirBnB. The shared economy strengthens Thailand’s real estate market and this has a beneficial impact to the whole economy. Secure your hotel in paradise. #airbnb
Foreigners looking for a property investment in Thailand frequently decide to avoid a corporate structure and, instead, to lease what they can't individually buy. For such investment, it is advisable to make educated decisions and not to trust too much to the glossy brochures and the promotion talks of developers, real estate brokers, and agents.
Thai investments abroad, also known as "Outward Foreign Direct Investments", have come in the focus while the domestic industry lags behind the stated targets. PUGNATORIUS Ltd. advises and supports Thai companies in their OFDI, and foreign companies in entering into a joint venture of finance agreement with Thai investors and business partners.
Thai property crowdfunding gives the investor an exciting opportunity to make money from carefully curated Thai property projects. Ask PUGNATORIUS Ltd. for a specific consultancy offer for your property crowdfunding project. #crowdfunding
Condominium developments experience pretty frequently substantial delays. This should be alarming for buyers who invested their funds already in a pre-construction phase. The post describes the background and options from the buyer's viewpoint.
The BOI investment promotion offers tax holidays for many years. Nevertheless, a long-term tax structuring of BOI companies is essential.
The best company type to do business in Thailand, the basic requirements and the benefits of foreign investments in Thailand. The law firm is specialized in protected company formations which give foreign investors the most robust corporate structures available under the laws of Thailand ("investment grade"). This professional service differs substantially from the risky "Thai style" structures ("consumer grade").
Under the Subdivision Act, a subdivision license (aka. developer license) must be obtained before commencement of the subdivision of any parcel of land into ten or more parcels within any consecutive three year period, whether in a single phase or successive phases.
The acquisition of hotels in Thailand requires a specific know-how and experience. Many foreign hotel investments ended in a financial loss, because the specific legal requirements and regulatory framework had been neglected and ignored. Secure your hotel in paradise.
Thailand is a high regulated legislation. For financial advisors, not only the Foreign Business Act and Securities and Exchange Act regarding license requirements for securities business (SEC Act), but also a bundle of announcements, decrees, notifications and ministerial regulations have to be taken into consideration. It seems to be an easy solution to fly under the radar and act as an unlicensed business, either from abroad, as an individual or under a Thai company. However, getting caught results in harsh fines including imprisonment. The current list of black sheep as named and shamed by the Securities and Exchange Commission can be found here at http://market.sec.or.th/public/idisc/en/Viewmore/invalert-head The law firm advises on the […]
Thailand's legislation for sublease agreements offers surprises for foreign investors who base their investment on a sublease of real estate. A simple sublease has nearly no protection against a collapse of the whole investment scheme.
A description of Thailand's hotel operation models and villa management contracts and how to improve and adjust hotel management structures to international tested standards. Secure your hotel in paradise.
In the grand scheme of things, Thailand remains to be one of the most attractive locations for foreign property investments. This real estate guide provides you with the deal experiences and professional know-how of an independent international law firm in Bangkok. It gives you an often inconvenient truth which is badly required to sustainably protect your place in paradise. In an international context: What is the same and what makes Thailands real estate industry different? Following the civil law system, Thailand’s Civil & Commercial Code, as well as its Land Code, mainly mirror legal principles which are well known and time-tested in Europe. The main differences between, e.g., German and […]
Secured property investments with 10% rental guarantee for 10 years! Real estate brokering and property developments are in Thailand unregulated businesses. Therefore it is highly appreciated that new investment schemes are leaving the traditional route and an optimized financing structure is developed and marketed. Although 10% rental return for ten years at first glance seems to be pretty ambitious, it would be unfair to condemn this generally as a Ponzi scheme to make the properties on sale more enticing. How does the buy-rent-rent scheme work? The property investment itself is carried out as usually: Either the investor acquires legal ownership in a condo or a corporate structure is set-up to hold the property through a Co., Ltd. or the […]
Dear Villa Owner in Samui, Phuket, Hua Hin or elsewhere, Some time ago you acquired your villa on the tropical beaches of Thailand. The transaction required some paperwork, mostly in the Thai language. The structure might be called leasehold ownership, freehold villa on leased land, company ownership or simply property investment. Anyway, the boring legal matters had been swiftly accomplished by certain advisors long time ago and in the meantime luckily no need for further action or substantial payments has been requested by them. The deal had been sealed together with some Thai business partners. They might still be involved as the landlord, as silent majority shareholders in the company that owns the land, […]
Thailand’s legal framework and business environment poses particular challenges and sets special requirements to analyze and assess Thai companies as potential acquisition targets. A professional corporate due diligence creates for the foreign investor a quantifiable basis for the decision-making process that takes into account all aspects of Thai laws, regulations and industry practices. Foreign direct investments in Thailand are often associated with the set-up of a limited company and the legal requirements under Thailand’s corporate and foreigner laws (“greenfield investment”). However, apart from entering into a joint venture, the acquisition of an existing company with all its assets and market share is often a more attractive alternative (“brownfield investment”). When talking about M&A transactions, M(erger) […]
This post explains some basic considerations regarding the general concept to participate from the healthcare shortage and nursing-unfriendly climate in the Western world by a social responsible investment in Thailand.
Under Thailands civil law principles the shareholder continues to hold legal title in his rights, even if he does not make use of them for a very long time. He is not obligated to complain about a wrongful modification of the shareholders’ list and even if another person is publicly registered as apparently new shareholder, there is no legal obligation for an objection to maintain the legal owner of the shares. An exception from these principles is the concept of “adverse possession” (AP) under the squatter’s rights provision of Section 1382 CCC. Although such concept is primarily existing for real estate transactions, the Supreme Court of Thailand (e.g. decision no. […]
The aggressive promotion of investments through tax incentives and a broad range of non-tax benefits has in Thailand a long and successful tradition. At the end of 2014 Thailand re-invented its investment promotion legislation and the “Seven-Year Investment Strategy 2015-2021″ had been announced and significantly adjusted in November 2015 and enhanced on February 29, 2016. The new investment promotion environment shifts the focus from a passive to an active economic governance and political control of the Thai economy. A limited scope of foreign investments is still promoted with a tendency to stricter requirements and a limited scope of benefits. However, advanced promotion is available for foreign investments of a specific type, […]
Legal support and assistance in mineral and mining investments in the Philippines The Philippines holds the world’s second largest gold reserves and are rich also in copper, nickel, and chromite. Mining is one of the country’s boom sectors, and regulatory changes open this industry sector more and more for foreign investments. Although the Philippine Constitution declared that minerals as the natural resource are owned by the Philippine government and must not be alienated, the Philippine Mining Act of 1995 allows 100% ownership of the claimed mining land area and minerals by foreign mining corporations. However, the Mining Policy as of 2012 introduces restrictions on mineral production sharing agreements (MPSA), financial or technical […]
The Agricultural Cooperatives Program (Agro-Solar) project and its realization in 2015ff. #solar #agro-solar
Thailand has a high potential to finance rooftop solar facilities in Thailand and to provide the customer with the panels, know how and infrastructure to accomplish the construction by a one-stop-shopping solution. Such business model can be limited to facilitate the self-consumption of the solar electricity by the customer only and not to feed electricity into the grid (so-called “zero grid feed”). Unfortunately, the industry had been blocked by the uncertainty whether such project needs a power production license. Thailand’s energy policymakers plan to provide the private sector with better access to the state solar rooftop program in an attempt to promote the use of solar power. The program for businesses […]
VC, Venture Capital (ธุรกิจร่วมลงทุน), as defined by the Thai Venture Capital Association, is long-term risk capital which invests as alongside entrepreneurs, typically in business with high growth potential. In the following, we describe how a start-up successfully gets a VC financing in Thailand and the legal and tax considerations on the VC provider’s side. VC firms, CVCs, banks, and the Thai government compete on Thailand’s start-up industry Angels, accelerators, incubators, kickstarter and crowdfunding: There are more than fifty traditional venture capital and private equity firms in Thailand, whose primary goal is to maximize the financial return on the investment, including 500 Startups, JDFI Asia, Scapita Partners, Sinar Mas Digital Ventures, Sumitomo Corporation Equity Asia […]
After the rough years of Thailand first “solar gold rush” the government shut the doors for new solar projects. Starting June 28, 2010, new applications for solar projects had not been accepted (the so-called Solar Power Moratorium) and the Adder for new solar projects had been cancelled and replaced by a Feed-in-Tariff. The reason for this was that applications for over 4,000 MW of proposed projects had been submitted by October 2010, although a year later only 16 MW had been completed. In 2013, Thailand’s National Energy Policy Commission (NEPC) approved updated feed-in tariffs for both rooftop and ground-mounted solar photovoltaic panels with contract terms of 25 years. There are three […]
Solar energy projects in Thailand as a low-risk and best-rewarded investment Solar energy is the oldest and the newest form of energy. Investment in renewable energy is one of the country’s priorities, given its goal to reduce its energy imports. The current legal, regulatory and business environment provides great market opportunities for foreign solar companies and entrepreneurs to develop and engineer a solar project, to obtain a financing based on the power purchase agreement, either with the aim of holding assets medium to long-term and operate the power plant on their own, to enter into a joint venture with the major players in the Thai energy market or to sell […]
This post describes hands-on experiences on advising mining projects in foreign jurisdictions. Such legal project management from abroad is not deemed to substitute local legal support and advice by professionals admitted to practice in that mining jurisdiction.