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November 24, 2021

Practical Law: Doing Business in Thailand 2021

Thomson Reuters Practical Law

Attorneys from Tilleke & Gibbins have provided the latest update to the Thailand contribution to Doing Business in…, a Q&A-style guide published by Thomson Reuters Practical Law that presents an overview of the legal framework for doing business in 63 jurisdictions worldwide. The Thailand chapter of the guide outlines Thailand’s legal system and key laws applicable to foreign companies doing business in the country. The chapter specifically covers the following main topics:

  • Legal system: Thailand’s court system and codified legal system.
  • 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.
  • Environment: Main laws and regulations, factory operation.
  • 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: Important aspects of Thailand’s regulatory regime surrounding competition, centered around the updated Trade Competition Act.
  • Antibribery and corruption: Laws, compliance requirements, regulatory authority.
  • Intellectual property: Patents, trademarks, registered and unregistered designs, and copyright.
  • Marketing agreements and advertising: Regulation of marketing agreements, Thailand’s Consumer Protection Act, direct marketing, role of the Consumer Protection Board and Food and Drug Administration.
  • E-commerce: E-commerce laws and regulations, marketing and sales via online platforms.
  • Data protection: An outline of Thailand’s Personal Data Protection Act.
  • Product liability: Procedures and regulations for product liability and product safety, including the Unsafe Goods Liability Act and the Consumer Case Procedure Act.
  • Product liability: Key regulatory authorities for trade competition, environmental issues, and financial services.

To browse, download, or print the Thailand chapter, please visit the Practical Law website.