Company Dissolution in Thailand
Dissolution is the process of de-registering a company from the company registry at the Department of Business Development (“DBD”). When considering the life cycle of a business operation, the voluntary dissolution by the shareholders appears to be the usual way to end the company’s operations. There are several circumstances that will lead companies to the …
Liquidation Process in Thailand
Liquidation is the process of extracting a company’s assets and using the liquidated assets to pay off any remaining debts. A dissolved company is required to conduct a formal liquidation process according to the Thai Civil and Commercial Code (“CCC”). For a bankrupt company, the liquidation shall be done in accordance with the provisions of …
US-Thai Amity Treaty – Another Way
The Treaty of Amity and Economic Relations Between the Kingdom of Thailand and the United States of America (US-Thai Amity Treaty) is a treaty that was signed on 29 May 1966 in Bangkok. It has expired and due to World Trade Organization (WTO) restrictions was not renewed, however Thai authorities still apply it, nonetheless.
The Draft amendment of the Civil and Commercial Code: The minimum number of shareholders in an LLC
On June 23rd, 2020, the Thai Cabinet approved a Draft Act which will amend the Civil and Commercial Code, with regards to the establishment of limited companies.
Bankruptcy Proceedings and Business Reorganization in Thailand
Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts, while reorganization is a process where a company establishes and implements a plan to organize its debts, capital, fundraising as well as management and exploitation of the company’s property. The proceedings for both of these procedures are …
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Thai Cabinet Approves Long-Term Tourist Visas
On 15 September 2020, the Cabinet agreed to allow in foreign tourists who agree to go through a 14-day quarantine and stay for at least 90 days to help stimulate Thailand’s economy. Prime Minister General Prayut Chan-o-cha said that the government would issue special tourist visas for long-stay visitors. The most critical condition would be …
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