The 2017 edition of Doing Business In…, a Q&A-style guide published by Practical Law Company in collaboration with Lex Mundi, presents an overview of recent legal developments affecting doing business in 51 jurisdictions worldwide. The Thailand chapter of the guide was written by attorneys from Tilleke & Gibbins and presents an overview of Thailand’s legal system and key laws applicable to foreign companies doing business in the Kingdom. The chapter specifically covers the following main topics:
- 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—including merit-based 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: The existing and new draft version of Thailand’s Trade Competition Act, as well as 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.