ILCT Ltd.

This legal summary provides an overview of new regulations outlined in SEC notifications effective from June 1st, 2024, concerning the issuance of sustainability-themed digital tokens.

In accordance with the regulations of the Kingdom of Thailand, nationals of 93 specific countries and territories are eligible for visa exemption under certain conditions.

This legal summary provides an overview of the laws and regulations governing product recalls in Thailand under the Consumer Protection Act, B.E. 2522 (1979).

On March 2, 2023, the Securities and Exchange Commission (SEC) of Thailand took a significant step forward by approving amendments to the regulatory framework governing digital assets during its Board Meeting No. 5/2566.

On the 2nd of January 2024, the cabinet granted its approval for substantial tax reductions and exemptions on alcoholic beverages, marking a strategic initiative to fortify the tourism sector.

The Revenue Department has recently announced changes to the taxation of foreign-sourced income brought into Thailand by Thai tax residents.

Digital assets have become rapidly popular among Thai investors in the past few years as their value tends to rise dramatically higher than other traditional assets, yet with higher risks. According to the Emergency Decree on Digital Asset Businesses, 2018, digital assets consist of cryptocurrencies and digital tokens. Digital assets, especially cryptocurrencies, can yield incredible returns and profits, and are easy to trade via online applications.

On March 8, 2022, the Thai Cabinet of the Royal Thai Government has approved in principle two different sets of tax measures.

In its continuous efforts to improve the efficiency of IP-related registration services in Thailand and to reinforce filing services in the digital age, the Department of Intellectual Property (DIP) has implemented a "Fast-Track Trademark Filing System" for new trademark and renewal applications, which also aims at facilitating business owners who need to present a trademark registration certificate to a Thai Government Agency. Fast-Track Trademark Filing System The First Action Fast Track System expedites the Trademark Registrar to issue the First Office Action within 6 months from the filing date. To be eligible, the applicant must comply with the following requirements: 1.1 The list of goods or services submitted for application must not exceed 50 items; 1.2 The description of goods or services must comply with the DIP’s standard list of goods and services that can apply for trademark registration in Thailand; 1.3 Any amendment, recordal of trademark assignment or inheritance of trademark rights, or request to prove acquired distinctiveness through use shall not be made upon or after filing. Please be advised that applications submitted through the Madrid Protocol are ineligible for the First Action Fast Track System. Fast-Track Trademark Renewal Filing System Fast Track Renewal Filing System has been implemented by the DIP with the aim of enhancing Thailand’s trademark filing system service and speeding up the trademark renewal filing system. To a certificate for the renewal of a trademark registration within 30 minutes after submitting the renewal application to the Trademark Registrar at the DIP, the applicants must comply with the following requirements: 2.1 The list of goods or services submitted for a renewal application must not exceed 30 items; 2.2 No amendment shall be made to the trademark registration. For those who wish to file the application via e-Filing, the result of the renewal will be notified 1 working day after the DIP’s receipt of renewal fees payment. Fast-Track Trademark Filing System For Other Thai Government Agencies For those who need to present a trademark registration certificate to a Thai Government Agency, the DIP implemented a “Fast-Track Trademark Filing System For Other Thai Government Agencies” with the goal of supporting business owners: To be eligible, the applicant must comply with the following requirements: 3.1 An application must be submitted not less than 3 months; 3.2 The list of goods or services submitted for application must not exceed 10 items; 3.3 The description of goods or services must comply with the DIP’s standard list of goods and services that can apply for trademark registration in Thailand; 3.4 Any amendment, recordal of transfer or inheritance of trademark rights, or request to prove acquired distinctiveness through use shall not be made upon or after filing; 3.5 All the relevant documentation indicating the requirement to present the trademark registration certificate to other Government Agencies must be attached. After receiving a request for expedited examination, the Trademark Registrar will examine the application and notify the result to the applicant/its representative within 15 days. Besides, this system does not include foreign government agencies.