• BOI Update: Foreign Investment from Major Countries (January – June 2017)

    The latest statistics we received from a friendly person at the BOI showing applications and promotions in Thailand from main investment countries. #boi

  • The offshore bank account

    Opening a corporate bank account and maintaining good relationships with the selected financial institution demands a comprehensive bank account opening strategy. #offshore

  • Legal requirements for e-commerce businesses in Thailand

    Overview of e-commerce laws and regulations in Thailand, BOI requirements, taxation. #e-commerce

  • BOI incentives, guarantees and protection

    Incentives, guarantees, and protection to foreign direct investments in Thailand under the BOI investment promotion. #boi

  • The blank share transfer agreement

    Blank share transfer agreements are widely used in Thailand’s legal industry. They seem to be convenient but disrespect Thailand’s laws. They are, therefore, void when they are blank and even void after they are completed.

  • International Headquarters: Tax benefits and BOI promotion

    This post explains the International Headquarters and International Trading Center legislation and how to find out, whether this opportunity can be utilized for an efficient tax structuring in Southeast Asia. #ihq

  • Condotel ventures in Thailand

    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.

  • Seven opportunities: The newsletter

    The law firm’s non-public newsletter “Seven Opportunities” explains attractive investment opportunities for foreign companies. #seven

  • Chinese investments in Thailand

    PUGNATORIUS Ltd. provides Chinese enterprises and law firms with easy access to the legal know-how to invest in Thailand’s industries and real estate developments, informs about current governmental investment projects in Thailand’s infrastructure, energy and agriculture, and acts as legal advisor, coordinator and representative for Chinese investments in Thailand.

  • Seven opportunities: Thailand and the One Belt, One Road initiative

    One belt, one road: A multi-trillion dollar initiative aims to reshape intercontinental trade through a new network of maritime and landside links, based on ancient trading routes. #obor

  • Seven opportunities: Thailand’s Eastern Economic Corridor (EEC)

    The Eastern Economic Corridor (EEC) offers highly attractive investment opportunities. Send us your investment plans for a swift legal review whether your venture qualifies under the EEC regime, which benefits are granted and which steps are required. #eec

  • The nominee in an offshore structure

    Long-time experience in advising on collapsed offshore structures and the hunt after luckily escaped nominees shows that many investors rely blindly on unknown nominees thousands of kilometers away and, as a consequence, have to learn the proverb “Trust kills faster than bullets” the hard way.

  • The small business acquisition in Thailand

    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.

  • Condominium Due Diligence

    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.

  • Showbiz Thailand – The superstar

    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

  • What will happen when Thailand’s civil laws are enforced?

    Legal lecture held for the Rotary Club Phoenix Pattaya on March 7, 2017, at the Hotel Holiday Inn, Beach Road, Pattaya.

  • Boutique Cross-Border Tax Planning Law Firm of the Year Award 2017

    Boutique Cross-Border Tax Planning Law Firm of the Year in Thailand Global Award by Corporate Intl Magazine

  • Future-proofed foreign property acquisitions in Thailand

    How to diligently acquire a villa or undeveloped land in Thailand through a Thai Co., Ltd. with a Thai majority partner.

  • Emergency Decree: Thailand’s new work permit penalty regime

    +++ BREAKING NEWS +++ BREAKING NEWS +++ BREAKING NEWS +++

  • Seven opportunities: Thailand Solar Energy Update 2017

    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.

  • Seven opportunities: Thailand’s Public-Private-Partnerships (PPP)

    PPPs in the fast lane: Seven opportunities in Thailand’s infrastructure and energy projects. #ppp

  • BOI investment promotion for hotels

    Scope and size of investment promotion by the Thailand Board of Investment.

  • Wind energy in Thailand

    Updated overview regarding legal issues and regulatory developments in Thailand’s wind energy industry. Professional advice and assistance to ensure that long-term financial and property interests are protected.

  • How to obtain a hotel licence

    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.

  • Seven opportunities: Thailand’s infrastructure projects

    Preselected opportunities for foreign companies to participate in Thailand’s infrastructure projects

  • EEC: Target Industries

    This is the current list of targeted industries to obtain a BOI super promotion in the Eastern Economic Community. #eec

  • The offshore company

    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 a condominium unit

    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.

  • The Representative Office in Thailand

    Effective from 09.06.17, the Ministry of Commerce issued a ministerial regulation facilitating the set-up of a representative office. #repoffice


  • Acquisitions and sales of rubber farms

    The acquisition or disposal of a rubber farm in Thailand requires expert advice and support. PUGNATORIUS has broad experiences and a unique know-how in the legal structuring and financial modeling of rubber farm investments in Thailand by foreign investors.

  • Seven deadly sins: The status quo of Thailand’s Foreign Business Act

    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.

  • Superyachts and vessels: Maritime legal support in Thailand

    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

  • India-Thai Business Opportunities

    Thai-Indian business opportunities and how to do business with Indian companies. Co-founder of ILA (Indian Law Associates) .

  • Real Estate Due Diligence in Thailand

    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

  • Transfer pricing 4.0 in Thailand

    The 2015 draft of the #TP rules had never been put into force. In September 2017 a new draft will be introduced to the public. Thailand 4.0 needs Transfer Pricing 4.0

  • Livestock investments in Thailand

    Foreign investments in Thailand’s livestock industry have a huge market potential and high-profit opportunities. #livestock

  • Thailand 4.0

    Thailand 4.0: Value based economy with an emphasis on research and development, science and technology, creative thinking, and innovation.

  • Void lease schemes

    The structuring of a property lease investment requires a special know-how to avoid void lease schemes as they are promoted mainly on Phuket.

  • The usufruct in Thailand

    The Top 5 legal misconceptions on usufructs in Thailand are (i) A usufruct between a married couple is legally compliant and protected. (ii) A usufruct for free is not very risky for various reasons. (iii) A usufruct can be enhanced by a contractual agreement. (iv) The usufruct of the foreign husband is no marital property. (v) A structure with two usufructuaries provides for even better protection.

  • Rubber farm economics in Thailand

    How to benefit from the comeback of Thailand”s rubber industry

  • The pledge of shares

    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.

  • Preference shares in a Thai Co., Ltd.

    In a foreign direct investment in Thailand a properly designed preference share structure is helpful to fulfill the requirements under the Foreign Business Act. However, ill advised reverse preference shares are harmful.

  • Property developments 4.0

    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.

  • Showbiz Thailand – The film producer

    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

  • Secured property lease structures in Thailand

    The conventional Thai property lease shows more and more vulnerability and weakness. Instead of risky and unfit investment schemes, property developers should look seriously into secured lease structures to attract even risk-averse foreign property investors.

  • AirBnB – Thailand benefits from the shared economy

    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

  • Crazy little thing called lease

    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.

  • New Utopia

    The Principality of New Utopia is a meanwhile discontinued and abandoned vision of the artificial creation of a new city-state in the middle of the Caribbean. #newutopia #micronation

  • Thailand’s outbound investments

    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

    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

  • Buyer protection in off-plan condo projects

    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.

  • Tax structuring for BOI promoted companies

    The BOI investment promotion offers tax holidays for many years. Nevertheless, a long-term tax structuring of BOI companies is essential.

  • Legal contract management of construction projects

    Legal assistance regarding private and public building and construction law and architects law of Thailand. Claim and anti-claim management. Contract adjustment. Change order management. The law firm provides the full scope of legal contract management of construction projects.

  • Villa ownership: The superficies makes the difference

    Villa buyers on leased land have typically no real legal ownership, but just a weird Thai-style pseudo-ownership. Secure your villa in paradise!

  • Company formation in Thailand – a house of cards?

    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”).

  • The subdivision of Thai land

    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 hotel acquisition in Thailand

    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’s new small company legislation

    UPDATE 14-12-16: The Commerce Ministry’s Business Development Department will soon seek Cabinet approval for a new law to allow individuals to establish a company on their own, in a move that is expected eventually to formalize around 2.74 million small and medium-sized enterprises in the business system.

  • The factory license under the Factory Act

    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.

  • Financial advisory firms in Thailand

      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 […]

  • Tax sanctions from Germany – and how to escape them

    Offshore taxation demystified (Part 3): “Basically, if fewer smart thirty-something’s, educated in business and law schools and fluent in five languages, were engaged to pour over German tax legislation and amendments with a fine-tooth comb in order to find ways of avoiding tax, if this did not happen, then I could reduce tax rates.“ (Germany‘s Minister of Finance, Peer Steinbrück, in a speech on a tax conference in September 2009).

  • The positive effects of Caribbean tax information exchange agreements

    Offshore taxation demystified (Part 2): This column tries to bridge the gap between the hardship of tax information exchanges and the chances of an adjusted legal environment. The aim is to preserve the traditional benefits from Caribbean financial centers, even in an era in which banking secrecy is equalized with tax banditry.

  • The Caribbean, the OECD and the empty blacklist

    Offshore taxation demystified (Part 1): The infamous black list of un-cooperative tax havens, maintained by the Organisation for Economic Co-operation and Development (OECD) and dominated by Caribbean jurisdictions, is empty now. In an increasingly borderless world, there seems to be no rogue tax regimes any more. But this is just a temporary silence and definitely not forever.

  • The sublease of property in Thailand

    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.

  • Australian property law blog – fifth post

    Sophisticated hotel operation structures in Thailand: Comparison of Hotel Management Structures vs Villa Management Structures.

  • The Hotel Management Agreement

    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.

  • The real estate legal guide 2016

    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 […]

  • Property investments with high guaranteed rentals – not a scam

    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 […]

  • Citizenship by investment – the second passport opportunity

    There are many good reasons to consider obtaining a second passport. The international markets offer several citizenship-by-investment programs, available for wealthy foreigners from nearly each and any origin. They base on a capital contribution to the government or a substantial property investment in a foreign country, combined with a fast-tracked application process to grant citizenship or at least permanent residence.

  • Professional services in Phuket

    The Bangkok law firm PUGNATORIUS Ltd. provides its foreigner-focussed legal support and assistance through a trusted partner law firm in Phuket. A protected corporate structure in full compliance with the law. A comprehensive due diligence which truly lives up to its name. A most efficient hotel business licensing process. A more competitive design of the property development. The PUGNATORIUS advantage is badly needed at a place where foreign investments are typically built on sand. The law firms extensive update section at pugnatorius.com covers comprehensive information about Thailand’s real estate laws and regulations as well as corporate and investment laws. The real estate and business law firm appreciates the opportunity to submit an offer for […]

  • Tax amnesty and tax holidays in Thailand

    August 2016: The tax amnesty will most likely be revoked for companies which fail to file the tax statements for the financial year 2015 until August 31, 2016. April 2016: Did your accountant and auditor provide you already with specific recommendations how to make efficiently use of the tax amnesty 2015 by cleaning up the balance sheet? If you don’t have an action list ready how to adjust the financial statements for 2015, you risk losing all the benefits from the SME tax amnesty. March 16, 2016: THE DAY AFTER. The deadline for tax amnesty and tax holidays elapsed. The registration website of the Revenue Department is now offline. What to […]

  • The irregular shareholders resolution of the Thai Co., Ltd.

    The irregular general meeting is no convenient short-cut for foreign investments in Thailand It is the street-wisdom of (foreign) investors, that formalities are not so important for company issues in Thailand, as long as the shareholders and directors do not fight against each other. Any negligence and mistake in a shareholders’ resolution do not damage its validity if neither the shareholders nor its director swiftly starts a formal court proceeding on this topic. As a result, all the shareholders’ resolutions can be made just on paper, avoiding the hassle of a real shareholders meeting with invitation letters, room reservation and appearance in person or by proxy on that date and venue. […]

  • U.S. Thai Treaty of Amity

    The “Treaty of Amity and Economic Relations Between the Kingdom of Thailand and the United States of America” had been signed in 1833 and amended in 1966/1968. The U.S. Thai Treaty of Amity allows for U.S. citizens and businesses incorporated in the US, to maintain a majority shareholding or to wholly own a company in Thailand, and to engage in business on the same basis as would a Thai national. Therefore, U.S. owned companies are exempt from most of the restrictions on foreign investment imposed by the FBA Foreign Business Act. American companies receive national treatment to engage in business on the same basis as Thai companies. The Thai U.S.Treaty of Amity does not privilege the following business activities: Owning […]

  • Dear Villa Owner in Samui, Phuket, Hua Hin,

    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, […]

  • Doing business in Frankfurt

    Frankfurt is a global hub for commerce, culture, education, tourism and traffic. It is the most important financial centre of the European continent, with the HQs of the European Central Bank, German Federal Bank, Frankfurt Stock Exchange, Deutsche Bank, Commerzbank, DZ Bank, KfW, several fintech startups and other institutes. Messe Frankfurt is one of the world’s largest trade fairs. Major fairs include the Frankfurt Motor Show, the world’s largest motor show, and the Frankfurt Book Fair, the world’s largest book fair. The law firm advises foreign investors how to do business in Frankfurt and other parts of Germany.

  • Por.Bor.Tor.5

    Property investments in Por Bor Tor 5 – not a mission impossible The Por.Bor.Tor.5 document is issued on demand for a specific plot of land in Thailand. It certifies (together with the official pink tax receipt – Aor.Bor.Tor) that the beneficiary occupied the land, a tax number has been issued for it and the beneficiary pays taxes for the utilization of the land. The claim document has no Garuda emblem and is issued without any governmental survey. The beneficiary, he might be called caretaker, can’t sell or lease out the land. Adverse possession under the squatter’s rights provision of the Civil & Commercial Code is not possible. The plot is neither registered at the […]

  • Links to PUGNATORIUS in the web

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  • The German Foreign Business Act

    While Thailand’s legal system comprises strict rules to limit foreign business activities, foreign acquisition of real estate and residence permit, Germany is much more open to foreign investors. In general, there are no restrictions or additional requirements to set-up a foreign owned business in Germany. This creates a leveled playing field for Thai and other foreign investors to compete with domestic corporations in Germany. An exception to this rule are the provisions of the Foreign Business Act (“Aussenwirtschaftsgesetz”), also translated as  Foreign Trade and Payments Law or Foreign Trade Act, enhanced and specified by a governmental regulation (“Außenwirtschaftsverordnung”). However, this legislation has to be seen as a very specific exception rule for […]

  • 6th PPPs In Emerging Markets Conference

    The PPPs in Emerging Markets Summit Series started in 2010 and is now in the 6th Edition. The summit bring together Infrastructure & Project Finance leaders across government agencies, investors, project sponsors, development banks and consultants to discuss about various different topics of Public Private Partnerships. These are the speakers: Event Feature includes Ministerial and governmental presentation on future pipeline projects and government initiatives to support PPPs, distinguished panelists to discuss key issues in developing countries to attract investment in infrastructure, developing best practice and understanding risks and rewards for major essential projects and International case studies from key sectors – Transport, Energy & Power, Healthcare, Water & Waste, Schools […]

  • German publication – Company laws of the world: Thailand

    On June 2016 the law firm released the first German language reference book on Thailand’s company laws. The book is published by German’s oldest publishing house C.H.Beck (established 1763). It is part of the renowned collected edition “Company laws of the world” with one of the most prestigious German law firms as lead editor. The reference book has been attentively written over a period of two years by the lawyers of PUGNATORIUS in Bangkok. It reflects the jurisdiction of Thailand’s Supreme Court as well as current industry practice, accompanied by an apparatus of academic footnotes with references to important documents, related subjects and official publications. The reference book can be acquired at any German specialist […]

  • Corporate Due Diligence in Thailand

    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) […]

  • Ethical investments in Alzheimer’s Super Resorts

    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.

  • Share ownership through adverse possession (AP)

    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. […]

  • Land acquisitions in Thailand

    ABSTRACT: It is a highly controversial topic whether it is (still) a good idea for a foreign investor to use a Thai company to hold real estate in Thailand – or whether a leasehold investment is the only remaining option. This article explains that under a typical scenario real ownership through a Thai corporation is the preferable and most reliable investment structure. The threatening full application of existing laws and regulations (a.k.a. crackdown) is not a game changer. Foreigners can smartly invest in Thai land ownership and this guide shows how to do it in full compliance with the laws and regulations of Thailand. YES, WE CAN DO IT LEGALLY. […]

  • Showbiz Thailand – Legal updates

    An artist, arriving on Thailand’s international airport, gets an ice-cold welcome by governmental movie posters showing uniformed officers pointing with their fingers straight at the artist. “YOU MUST…, YOU MUST…, YOU MUST…” is the tenor of the message. Thailand’s way to become the ASEAN hub of the show business industry. On this page we will post about legal developments in Thailand’s entertainment industry.  

  • The lease registration will not protect the lessee

    ABSTRACT: In Thailand, the registration of a real estate lease at the local land office is often marketed as a special lessee protection scheme to nicely compensate the foreign investor for the legal restriction to acquire land ownership. The inconvenient truth is that the land office registration does not at all benefit the tenant. It does not provide him with any additional protection against invalidity, insolvency, default, fraud, loss or other risks.  In Thailand, a long-term land lease is a popular mode of investing in real estate and a frequent choice of property developers and foreign investors. Leases seem to be relatively uncomplicated and easy to set up – for […]

  • The lease will not survive the lessee

    Like it or not, your 30-year land lease rights are not inherited by your heirs if you pass away. That’s the law in Thailand. And your lawyer should tell you this during your lifetime.

  • Thailand’s BOI promotion reinvented

    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, […]

  • Investments in international mineral and mining

    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 comeback of the sun: The Thai Agricultural Cooperatives Program 2015-2017

    The Agricultural Cooperatives Program (Agro-Solar) project and its realization in 2015ff. #solar #agro-solar

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  • Agriculture 4.0

    Overview – Agriculture 4.0 Thailand has been focusing on strengthening their economy with research and development, creativity, innovation and investment programs. Thailand 4.0 is the latest development model that the government aims to give way to pulling them out of the middle-income trap. One of their focus of Thailand 4.0 is their Agriculture sector which has a big role to their economic growth and to promote and strengthen its rich resources both for local and international aspects. Other than being one of the major exporters of rice in the world, Thailand’s other agricultural commodities include sugar, fish, canned tuna, pineapples, rubber, grain and frozen shrimps. Almost 40% of its people […]

  • The comeback of the sun: Solar rooftop projects

    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 […]

  • Anonymous message

    You can send us an anonymous message on this page. #anonymous

  • Venture capital financing in Thailand

    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 […]

  • Imprint

    PUGNATORIUS Ltd. has been duly set-up under the laws of Thailand as a limited company with its registered seat at mentioned on the contact page. Company and Tax ID 0105555003772 This Web site is for general information only and the information presented is not legal advice. Unsolicited e-mails and information sent to PUGNATORIUS will not be considered confidential, may be disclosed to others, may not receive a response, and do not create an attorney-client relationship with PUGNATORIUS. Please note that our lawyers do not seek to practice law in any jurisdiction in which they are not properly permitted to do so. If you are not already a client of PUGNATORIUS, do […]

  • Board of Investment: The application workflow

    The Thailand Board of Investment operates under the Prime Minister’s Office and is the principal government agency for encouraging investment. it is well organized and headquartered in Bangkok.With it’s 14 overseas offices (Beijing, Frankfurt, Guangzhou, Los Angeles, Mumbai, New York, Osaka, Paris, Seoul, Shanghai, Stockholm, Sydney, Taipei, and Tokyo) BOI Bangkok serve as Thailand’s front desks in liaising with potential investors. The organization chart is publicly available and its officers typically speak fluent English.  There are two units under the BOI that facilitate investment by speeding up the paperwork associated with government regulations. On the one side this is the “One Stop Center for Visas And Work Permits”. The OSC can process applications or […]

  • VAT on export services

    EXPORT SERVICES HAVE A ZERO VAT RATE IN THAILAND – GENERALLY Yes, generally, export services are VATable at a tax rate of 0% (Sect. 80/1(2) VAT Law). This covers consulting, administration, management, engineering, etc. provided from Thailand abroad. However, this general rule has three important exceptions: (1) Partly consumption by service provider in Thailand: The normal tax rate of 7% applies if the service is not fully consumed outside of Thailand. Even a very small portion of consumption in Thailand prevents the benefits of a 0% tax rate. If a law firm advises foreign clients and – to a small portion – persons in Thailand, or carries out tasks in Thailand […]

  • Board of Investment: Cross-border tax planning

    Tax incentives provided by the Board of Investment in Thailand can get lost if the corporate and group structure is not tax efficient. To trust on the international “no taxation on foreign dividends”-principle is false and deceptive. In many tax jurisdictions the headquarters of a BOI promoted Thai affiliate is unaware of the fact that hidden tax liabilities exist and even tax crime risks are possible, if a sophisticated cross-border tax planning had been forgotten or neglected. Example Germany: Generally 95% of the dividend payments by a Thai Co., Ltd. to its German corporate shareholder (AG, GmbH) are generally exempted from German corporate income taxation (Section 8b (1) and (5) […]

  • The comeback of the sun: The evolution of Thailand’s FIT policy

    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 […]

  • Public-Private-Partnerships in emerging markets

    The conference series gives access to emerging markets from across Africa, Americas, Asia Pacific, Europe & the Middle East for a program of capacity building and networking with Infrastructure & Project Finance leaders across government agencies, investors, project sponsors, EPC’s and consultants.

  • Asia Offshore Summit

    Asia Offshore Summit 2015, June 3-4 2015 in Bangkok: Speaker “Foreign direct investment in Thailand and foreign disinvestments to offshore. Escape to Southeast Asia – Thailand as a safe haven jurisdiction for offshore funds.” An exclusive conference dedicated to the Asian High Net Worth Elite <Brochure>

  • The comeback of the sun: Legal and regulatory framework

    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 […]

  • Merger & Acquisition Conference

    Merger & Acquisition Conference, April 29-30, 2015 in Bangkok: Speaker “Thailand – Fit for cross-border acquisitions? The implications of Thailand’s foreigner legislation and policy on foreign acquisitions.”<Brochure>

  • Project Finance Thailand Conference

    Project Finance Thailand Conference, March 26-27, 2015 in Bangkok: Conference chairman and speaker on “Attracting foreign investments to capitalize on new sources of long term finaning and accelerate project implementation”, panelist moderator on “ASEAN integration and regulations, opportunities and challenges of infrastructure projects in the region” and panelist on “Overcoming project finance challenges in renewable energy in Asia” <Brochure>

  • Announcement of the Board of Investment No. 2 /2557

    Due to significant changes in both domestic and international economic and investment landscape, the Board of Investment revised the investment promotion policies and criteria to respond to the current and future situation to be in line with the country’s development policies for the agricultural, industrial and services sectors.

  • Solar Power Asia Conference

    Solar Power Asia Conference, August 18-19, 2014 in Singapore: Conference Chairman, Panelist, Legal Work Shop Leader “Legal frameworks and solar investments in ASEAN” <Brochure>

  • International mineral and mining: Projects

    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.

  • Thailand Real Estate Investment & Property Law

    Thailand Real Estate Investment & Property Law Forum, September 2013 in Bangkok: Conference Chairman, Speaker “Foreign land ownership restrictions in Thailand and the ASEAN Economic Community” <Brochure> This example slide from that conference gives an overview regarding Regulation 205/2555 as of November 22, 2012. (The Order of the Registrar Office of Partnership and Company Incorporation No. 205/2555 , Subject: The required documents for Partnership and Company incorporation): Entities planning to set up a partnership or a company limited in Thailand must submit certified bank statements declaring the financial standing of all Thai partners or shareholders. The bank statement must be submitted together with the business set up application. The said document must […]

  • Myanmar Power & Electricity Summit

    Myanmar Power & Electricity Summit, June 2013 in Yangon: Conference Chairman, Speaker “Good and bad experiences from Thailand – applicable to the Myanmar power & electricity markets” <Brochure>

  • Project Financing Conference: Focusing on Energy & Infrastructure

    Project Financing 2012 Conference: Focusing on Energy & Infrastructure Sectors, March 2012 in Bangkok: Speaker “Risk Allocation and Incentive Schemes in a Public Private Partnership” <Brochure>

  • Thai Tax Regulatory Updates & Efficient Tax Planning

    Thai Tax Regulatory Updates & Efficient Tax Planning, February 2012 in Bangkok: Speaker “The implications of the new corporate income tax rate for international tax planning” <Brochure>

  • Real Estate Investment & Law Updates Thailand

    Real Estate Investment & Law Updates Thailand, October 2011 in Bangkok: Conference Chairman “Legal and tax aspects of real estate investments” <Brochure>

  • Land & Property Law in Thailand

    Land & Property Law in Thailand, August 2008 in Bangkok: Conference Chairman “Legal and tax aspects of real estate investments, Update and analytical views on the latest government stimulus measures for the real estate industry, including tax incentives and release of capital control, recent legal developments and changes, such as Foreign Business Act, Escrow Business Act, Environmental Impact Assessment, Condominium Act, Building Inspection Act” <Brochure>

  • Contract Risk Management Conference

    Thailand Contract Risk Management Conference, September 2007 in Bangkok: Speaker “The risk management of long term financings – legal, financial and technical aspects: Risk inventory of a complex financing contract. Risk policy as key aspect for the risk analysis. Risk evaluation: How to handle incident rates, amount of contractual damages and sensitivities Risk steering and crisis management: Getting risks done The art of risk communication: How to establish a risk management cockpit.” <Brochure>