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.
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 […]
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 […]