Doing Business, a Q&A-style guide published by Practical Law Company in association with Lex Mundi, presents an overview of key recent developments affecting doing business in 41 jurisdictions worldwide. The Thailand chapter, written by attorneys at Tilleke & Gibbins, provides an overview of the country’s legal system and the key laws applicable to foreign companies doing business in the Kingdom. In particular, the chapter examines the following main subjects:
- Legal System: Thailand’s codified legal system and hierarchy of laws including Constitutional Acts, Organic Acts, Royal Ordinances, Royal Decrees, and Ministerial Regulations.
- Foreign Investment: Lists of reserved business activities, restrictions on doing business with certain jurisdictions, exchange controls and currency regulations, and grants and incentives available to investors.
- Business Vehicles: Ordinary partnerships, registered ordinary partnerships, limited partnerships, private limited companies, and public companies.
- Employment: Laws, employment contract requirements, work permits, and termination and redundancy.
- Tax: Taxes on employment, tax and nontax resident employees and businesses, corporate income tax, value added tax, special business tax, municipal tax, stamp duty, dividends, interest, intellectual property royalties.
- Competition: Thailand’s Trade Competition Act and merger control.
- Intellectual Property: Patents, trademarks, registered and unregistered designs, and copyright.
- Advertising: Thailand’s Consumer Protection Act and role of the Consumer Protection Board and Food and Drug Administration.
- Product Liability: The Unsafe Goods Liability Act and the Consumer Case Procedure Act.
To read the Thailand chapter, please visit the PLC website or click on the PDF below.