Thailand Legislation Update: Amendment to the Public Limited Companies Act
On 23 May 2022, the latest amendment to the Public Limited Companies Act (No. 4), B.E. 2565 (2022) (the “PLC Amendment”) was published in the Government Gazette and it became effective on May 24, 2022. The PLC Amendment aims to facilitate public limited companies by allowing greater use of electronic communications in their business operations. …
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What Startups and Key Investors in Thailand Should Know about Alternative Debt Financing
With digital technology improving and the pandemic recovery already underway, Thailand’s business world is experiencing a new wave of ambitious startups. In order to succeed in this highly competitive environment, startups require adequate funding from key investors, venture capitalists and angel investors. In such a crowded environment, however, raising money is no easy task. Attracting …
Implications of Thailand’s New Central Bank Digital Currency (CBDC)
The popularity of Bitcoin and other decentralized cryptocurrencies continues to send ripples throughout the financial world. Private companies like Meta (formerly Facebook) have already begun developing their own competing cryptocurrencies, and central banking institutions are likewise working on similar concepts. The introduction of a CBDC (Central Bank Digital Currency) in Thailand is set to begin …
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E-Service Tax Law in Thailand: What are the implications?
In nearly all areas of the economy, technology moves faster than the law. Assertive tech companies, by making the most of their newly developed capabilities, often can enjoy a few years’ worth of relatively unregulated success before lawmakers make an earnest effort to re-stabilize the playing field. This regulatory process is currently playing out in …
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Thai cabinet gives green light to tax benefits to promote startup funding to develop the startup ecosystem in Thailand
The Thai cabinet has recently approved the draft Royal Decree issued under the Revenue Code regarding income tax exemption on investment in Thai startups (the “Draft Royal Decree”), in cases where the funding for the startups is provided directly or indirectly through Venture Capital (VC), Corporate Venture Capital (CVC), or private equity trust (PE Trust). …
Distressed M&A Trends for Post-Pandemic Thailand
With the pandemic continuing to limit global economic growth, many businesses are running out of options to maintain liquidity. One way out of this situation involves mergers and acquisitions (M&A), a transaction that can manage these pressing financial concerns.
The Rapid Growth of Telemedicine Startups to Combat COVID-19
The rapid spread of Covid-19 has placed the healthcare system in Thailand under severe pressure. Following the outbreak of the pandemic, new startups focusing on telemedicine have sprung up to take on the challenge of innovating the way healthcare services can be provided to patients. In general, telemedicine aims to assist healthcare professionals in providing …
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Technological Advancements Enable Amendments to the Public Limited Companies Act
On May 11, 2021, the Cabinet resolved that the proposed amendments of the Public Limited Companies Act, B.E. 2535 (1992) (the “PLCA”) be made, mainly due to technological advancements that allow certain corporate administrative procedures to now be conducted by electronic means. For ease of reference, the table below highlights the proposed amendments against the …
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Is your company ready to be PDPA compliant?
Thailand’s Personal Data Protection Act (PDPA) forces organizations to comply with sweeping and technically complex data requirements, imposing costly penalties on organizations and individuals who fail to abide by its rules. The law was published in the Royal Thai Government Gazette on 27 May 2019, but enforcement has been delayed twice in order to allow …
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Amendments to Interest Rates for Commercial Transactions under Thai Law
Background On April 11, 2021, amendments to the Thai Civil and Commercial Code (the “TCCC”) came into effect in Thailand in the form of the Emergency Decree on the TCCC Amendments 2021 (the “TCCC Amendments”).