FRANK Legal & Tax > Bangkok, Thailand > Firm Profile
FRANK Legal & Tax Offices
FRANK Legal & Tax
130 – 132 Sindhorn Building 2, 10 Fl., Wireless Rd
LUMPINI, PATHUMWAN
BANGKOK 10330
Thailand
130 – 132 Sindhorn Building 2, 10 Fl., Wireless Rd
LUMPINI, PATHUMWAN
BANGKOK 10330
Thailand
FRANK Legal & Tax > Firm Profile
FRANK Legal & Tax is a boutique international law firm based in Bangkok. Established and run by a talented team of international lawyers with extensive experience in Thailand, we specialize in corporate and real estate, offering international quality, comprehensive legal services to small and medium-sized businesses, as well as those purchasing property. We understand the impact our legal advice has on the business decisions our clients make. We are also confident that our in-depth, personal knowledge of the local Thai environment will enable us to offer you out-standing interdisciplinary and integrated solutions. These always take into account the business perspective that our clients’ often complex operations demand.
The firms services: The lawyers at FRANK Legal & Tax have expertise across a wide range of legal issues, enabling the firm to provide a full range of legal services to local and foreign investors operating in Thailand.
The lawyers at FRANK Legal & Tax regularly write articles which feature in publications such as the Bangkok Post and Property Report South East Asia, and frequently host seminars and deliver speeches on the regulatory environment of investment in Thailand.
Experiences: Some of the high-profile projects FRANK Legal & Tax has worked on include:
- Advising a German institutional investor during the establishment of a portfolio in Thailand
- Providing a German energy company looking to set up biogas energy plants in Thailand with advice and representation regarding company establishment and BOI application
- Representing a medical research multinational during their entry into the Thai market, providing services that included BOI application and company formation
- Advising a Swiss investment company who was a creditor in a 30 Million THB insolvency case in Thailand
- Representing numerous property investors in Thailand
Main Contacts
| Department | Name | Telephone | |
|---|---|---|---|
| Fabian Doppler | [email protected] | +66 (0)2 117 9131-2 |
Lawyer Profiles
| Photo | Name | Position | Profile |
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Mr Fabian Doppler | Managing Partner | View Profile |
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Mr Guillaume Federle | Partner | View Profile |
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Sireetorn Keeratiwetchakul | Partner | View Profile |
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Nareerat Wichianbut | Partner | View Profile |
Staff Figures
Number of partners : 4 Number of lawyers : 6Languages
English German ThaiMemberships
German-Thai Chamber of Commerce (GTCC) Institute of Directors Nextlaw Global Referral Network SwissThai Chamber of Commerce (STCC)Press Releases
Thriving in the Land of Smiles: Startup Grind Panel Discussion on November 8, 2023
30th November 2023 On November 8, 2023, Startup Grind Bangkok hosted a well-received and successful event featuring our colleagues Fabian Doppler and Nathathai Pichaisawad as participants in the panel discussion.Important Announcement: Amendment to Hotel Definition and New Regulations
27th November 2023 On 30 August 2023, the Royal Gazette issued the ministerial regulations as an announcement regarding the amendment in the definition of the hotel, which led to changes in the requirements for owners who wish to operate hotels.FRANK Legal & Tax’s New Address: A Modern Office in the Heart of Bangkok
14th August 2023 Our new office is located in the Sindhorn Building, a prestigious and modern office complex in the heart of the city.FRANK Legal & Tax Advises on Apave Group M&A Deal
8th August 2023 Our firm has recently been working on a major M&A transaction, joining as Thai advisers in an international legal team led by UK based law firm Addleshaw & Goddard.Nathathai Joins Corporate and Commercial Team as Senior Associate
7th March 2023 FRANK Legal & Tax is pleased to announce Nathathai Pichaisawad as the firm’s latest Senior Associate in the Bangkok office.FRANK Legal & Tax Blog Continues to Grow in Popularity
16th January 2023 The FRANK Legal & Tax blog is one of the largest legal blogs in Thailand and has been ranked as the best Thailand law blog by Blogspot, one of the leading authorities on blogs.FRANK Legal & Tax’s 10th Anniversary
6th January 2023 In 2022, we are marking our 10th Anniversary, celebrating ten years of confidence from our clients through delivering excellent support for businesses and investors in Thailand.FRANK Legal & Tax Opens New Office on Koh Samui
6th January 2023 Now open for business, FRANK Legal & Tax will provide clients with specialist and dedicated legal and taxation services on Koh Samui. Our team of advisors will advise commercial investors and private individuals in all areas of law and taxation. This includes, in particular, consultations on property law. So, contact us for support regarding investments you intend to make on Koh Samui.New Land and Building Legislation in 2020
15th October 2020 After an extensive legislative process, the National Legislative Assembly (NLA) has recently passed the new Land and Building Act (the “Act) comprising 94 Sections and introducing a new system on property taxation. With its announcement in the Royal Gazette, the Act will replace the old and outdated Land and House Tax Act B.E. 2475 (1932).Legal Developments
Thailand Introduces Investment Incentives for Hybrid Vehicle Manufacturers
2nd October 2024Thailand Launches New Incentives to Attract Hybrid Vehicle Manufacturers
Foreign Business License in Thailand (FBL) 2024
2nd October 2024 Thailand’s position as a gateway to Southeast Asia and its growing economy make it an attractive destination for foreign investment.Reliable Notary Services for Your Legal Needs in Bangkok
30th August 2024 The Importance of Notarization Notarization is a fundamental process in legal and business transactions that ensures the authenticity of signatures,New Regulations for Increasing the Capital of a Private LLC
14th August 2024Order No. 1/2567 Provides New Compliance Rules for Companies with Over 5 Million THB Capital
The Central Partnership and Company Registration Office has recently issued a pivotal directive: Order No. 1/2567. This new order, which supersedes the previous Order No. 1/2566, introduces significant changes to the regulatory framework for the establishment, capital increase, and mergers of limited companies in Thailand. By setting forth comprehensive criteria and detailed documentation requirements, Order No. 1/2567 aims to enhance transparency and accountability within the corporate sector. Aligned with the provisions of the Civil and Commercial Code (CCC), the updated regulations are particularly impactful for companies with registered capital exceeding five million THB, mandating stricter documentation to substantiate capital contributions whether in cash, assets, or labor. These measures are designed to ensure that all financial transactions are thoroughly verified, thereby bolstering investor confidence and promoting a robust business environment. 1. Key Provisions and Documentation Requirementsa. Establishment of Partnerships and Limited Companies
For the registration of limited companies with registered capital exceeding five million THB, documents are now required as follows:- Cash Contributions: Previously, only a bank certificate was needed to prove the payment of share capital. The new order requires an additional confirmation letter from the company, stating that the share payment has been received as shown in the bank document.
- Asset Contributions: Previously, confirmation from the asset owner was sufficient. The new order mandates a detailed description of the assets. If the assets are registered, a copy of the ownership document must also be submitted.
- Labor Contributions: The new regulations require a confirmation letter of the share payment with labor and supporting documents, such as a copy of the employment contract.
B. Increasing Registered Capital
If the combined registered capital, both original and newly added, exceeds five million THB, the order mandates additional documentation as follows:- Cash Contributions: A bank certificate confirming the payment of the share capital for the increased amount and a confirmation letter from the company must be submitted.
- Asset Contributions:
- Registered Assets: A confirmation letter of the share payment and a copy of the ownership document must be submitted. If the assets are for use, a copy of the usage agreement and ownership document must also be submitted.
- Unregistered Assets: A confirmation letter of the share payment or asset details and, in the case of assets for use, a copy of the usage agreement must be submitted.
- Labor Contributions: A confirmation letter of the share payment with labor and supporting documents, such as a copy of the employment contract, must be submitted.
c. Mergers of Limited Companies
Order No. 1/2567 introduces specific requirements for the registration of mergers of limited companies where the combined registered capital exceeds five million THB. These requirements ensure transparency and thorough documentation, similar to the guidelines for the establishment of companies and increasing registered capital, including new regulations of providing a confirmation letter stating that the payment for shares has been received, and the regulations of providing documents as aforementioned for labor contributions. These measures ensure that mergers are conducted transparently and in compliance with the CCC, enhancing the overall integrity of corporate transactions in Thailand.2. Implications for Corporate Registration
The updated regulations mark a significant shift from the previous framework, where incomplete documentation could lead to the cancellation of registration entries related to capital. Under the new order, the registrar will only note that the required documents have not been submitted in the company’s certificate. If the documents are submitted later by, or the capital is reduced to five million THB or less, or the increased capital that comes along with the merger is reduced, the registrar will remove the note from the company’s certificate. Through this comprehensive overhaul, Order No. 1/2567 not only modernizes the registration process but also aligns it with international best practices and the CCC. These changes reinforce Thailand’s commitment to fostering a transparent and efficient corporate sector. By ensuring meticulous documentation and validation of capital contributions, the new regulations bolster investor confidence and promote a robust business environment. As businesses navigate these new requirements, they will contribute to a more transparent and accountable corporate landscape in Thailand. If you have any questions regarding your business registration, taxation matters or corporate compliance matters, please contact us at [email protected] or via +66 (0)2 026 3284.Thailand Updates E-commerce Regulations: What You Need to Know
13th August 2024 Thailand’s Ministry of Commerce has recently introduced significant changes to its e-commerce regulatory framework through the issuance of,Thai Government Specifies Destination Thailand Visa for Digital Nomads
31st July 2024 The new DTV Visa allows remote workers and participants in cultural activities to stay in Thailand for up to 180 days per entry, with a 5-year validity.Navigating the E-Commerce License Application Process in Thailand
28th June 2024 Setting up an e-commerce business in Thailand involves several regulatory steps, with obtaining an e-commerce license being a crucial part of the process.E-Commerce in Thailand: Overview and Compliance
25th June 2024 E-commerce, the practice of selling products and services over the Internet, has become a cornerstone of modern business.Thailand Introduces New Visa Measures to Boost Tourism and Economic Growth
21st June 2024 Thailand is set to rejuvenate its tourism sector and stimulate economic growth with a comprehensive set of new visa measures introduced by the Thai cabinet.The cabinet of Thailand has approved the new 10-Year EEC Visa to Boost Investment and Innovation
18th June 2024 New 10-year visa aims to attract top talent and foster growth in targeted industries within Thailand’s Eastern Economic CorridorThailand’s Land Ownership: A Unique Exception for Foreigners
8th May 2024 In Thailand, non-Thais are legally prohibited from owning land. This rule aims to ensure that Thailand maintains sovereignty over its land and natural resources while preventing excessive foreign ownership.Thailand BOI’s New Initiatives: Attracting Global Events and Boosting PCB Manufacturing
25th April 2024 Thailand Board of Investment unveils incentives for international events and expands support for PCB manufacturing supply chain.Secure Your Online Presence in Thailand: A Guide to Domain Registration
25th March 2024 This article will take you a deep dive into the general overview of domain registration in Thailand.Thailand Joins Global Efforts to Reform International Taxation
22nd March 2024 In the context of international tax reform, Thailand has aligned itself with over 140 economic zones by becoming a member of the International Cooperation Framework on Base Erosion and Profit Shifting (OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting).Navigating Trademark Registration in Thailand: Criteria, Requirements, and Process
15th March 2024 Trademark registration is an important step for businesses to protect their intellectual property and establish brand identity in Thailand’s dynamic market.Non-disclosure Agreements: A Necessity in Business
29th February 2024 In a world characterized by an ever-increasing exchange of information, non-disclosure agreements play a significant role in business life.Thailand’s EEC Unveils 5-Year Development Plan and New Visa Scheme
20th February 2024 The Eastern Economic Corridor (EEC) Policy Committee in Thailand has greenlit an ambitious 5-year development plan for 2023-2027,Managing Wealth Across Generations – Family Offices in Thailand
18th January 2024 A family office is a private wealth management firm that provides comprehensive financial services to a wealthy family or a single high-net-worth individual.Leasehold vs. Usufruct for Foreigners
4th January 2024 Properties in Thailand do not serve only as investment assets but also as residences and business premises, attracting both locals and foreigners.Important Updates on New Tax Regulations for Foreign Income in Thailand
4th December 2023 Key Information on Revenue Department Order No. 162/2023 Additionally, to the Q & A paper on the new tax regulations published by the Thai Revenue Department, the Thai Tax Authority published the Revenue Department Order No. 162/2023 on 20. November 2023.Transforming Building Safety: Thailand’s New Ministry Regulation
6th November 2023 In an effort to boost building safety and elevate construction standards, Thailand has introduced a comprehensive new Ministry regulation.Thailand Elite Visa Membership Packages Set to Transform
2nd November 2023 The current Thailand Elite Visa membership packages are due to be discontinued in their current form. To adapt to the global economic landscape, a new suite of offerings will be made in October 2023. This move reflects the intent to modernize and cater to a diverse client base, aligning with changes in the world economy. The packages in their old form were stopped on September 15, 2003.Guide to the Available Legal Structures for NGOs in Thailand
27th October 2023 Our latest article analyzes the available options regarding the legal structures of NGOs in Thailand, and we provide some recommendations based on our experience.Thailand’s International Tax Landscape
25th September 2023 A Closer Look at Double Taxation Agreements and Global Tax InitiativesThailand’s New Tax Rules: Reporting Foreign Income for Residents
25th September 2023 The Revenue Department of Thailand has issued Order No. 16/2023, which has significant implications for residents in Thailand who earn income abroad or possess assets located overseas.Thailand’s Strategic Location: Why It’s the Ideal Gateway to ASEAN and Beyond
21st August 2023 Thailand is an ideal location for international expansion, as it provides quick access to both local and international markets in the ASEAN region.The Role of Earn-Outs in M&A Transactions: A Strategic Pricing Mechanism
21st August 2023 In the dynamic landscape of mergers and acquisitions (M&A), earn-outs have emerged as a strategic pricing mechanism that can greatly impact the success of a transaction.Setting Up a Second Residence in Thailand
9th May 2023 Setting up a second residence in Thailand has become a popular option for many high-net-worth individuals looking for a safe, stable, and convenient location to reside. With its favorable climate, world-class healthcare system, and vibrant culture, Thailand offers a unique and appealing lifestyle for those seeking a second home. However, before making the decision to establish a second residence, it is important to consider the legal and tax implications, as well as the family’s circumstances and priorities.Obtaining Permission for Your Boat to Enter Thailand
7th March 2023 When you are entering Thailand’s territorial waters, you must comply with the instructions as follows:Acquiring a Driving License in Thailand
7th March 2023 Driving a car in Thailand requires obtaining a valid driving license. If you are a foreigner, it is important to familiarize yourself with the requirements and processes involved before applying for a driving license in Thailand. In this article, we will focus on driving licenses for vehicles (cars).Applying for a Boating License in Thailand
7th March 2023 Thailand is a popular travel destination for many international tourists, but for those who own a boat, it's important to understand the laws and regulations for obtaining the appropriate license in the country. This article will cover the legal requirements and procedures for obtaining a boating license in Thailand“Shop Dee Mee Kuen” Offers 2023 Tax Deduction in Thailand up to 40,000 THB
2nd February 2023 According to a ministerial regulation (No. 386) issued on December 29, 2022, and a notification from the Director-General of the Ministry of Finance, a person liable to personal income tax (other than an ordinary partnership or non-juristic body of persons) is entitled to an income tax deduction under the "Shop Dee Mee Kuen 2023" program for certain expenses incurred for the purchase of goods and services from VAT registrants, provided that a full tax invoice is presented. This article details the items covered, what you need, and the time period covered.2023 Tax Return Filing in Thailand
25th January 2023 The season for filing personal income taxes in Thailand has now arrived.Reduction of Land Office Registration Fees in 2023
16th January 2023 Thailand's cabinet on Tuesday, 20th December 2022 approved tax measures to help boost public consumption to stimulate the economy moving into recovery. Land and property tax was reduced to 15% along with some registration fees being cut for the year 2023.Short-term rental businesses via online platforms in Thailand
6th January 2023 As the economy recovers from the COVID-19 crisis, Thailand is again attracting more and more tourists to the country. Visitor numbers are increasing, and short-term rental businesses through platforms such as Airbnb, including daily rentals via other online platforms, are gradually becoming more popular, encouraging villa and apartment owners to set up short-term rentals to allow tourists to stay in their properties.Thailand Recruitment License Requirements
6th January 2023 Under Thai law, any person or company who engages in recruitment business must obtain a recruitment license from the registrar following the regulations prescribed in the Employment Arrangement and Jobseeker Protection Act B.E. 2528 (1985).“HIGH” Standards in Thailand; Regulations to Unlock Cannabis Industry
24th November 2022 In the wake of shared global challenges, tourism and green growth is the way forward for Thailand’s sustainable economy. Specifically, a relevant government panel has set up a plan to develop the country as an international hub and targeted Thailand as the world’s foremost destination for the medical industry and wellness tourism. Still, a dream without a plan is just a wish. In response, the legal scheme to transform Thailand into a comprehensive medical hub was initially implemented. Cannabis liberalization will further strengthen Thailand’s position as a global medical hub with affordable healthcare.Thailand: Long-Term Resident (LTR) Visa
9th November 2022 This guide explores the Long-Term Resident Visa (LTR), a visa designed for high-potential foreigners who wish to reside in Thailand for an extended period.Share Deal or Asset Deal?
21st September 2022 This article will compare the legal and tax implications of a share deal with those of an asset deal. It will discuss the relevant taxes and transaction costs that will be incurred for an asset deal compared to a share deal from a Thai tax perspective.VAT on Foreign e-Service
21st September 2022 On February 10, 2021, the Royal Thai Government Gazette publicized the Revenue Code Amendment Act (No.53), which mainly stipulates that non-resident electronic service providers and electronic platforms are required to register for VAT under certain conditions and allows tax documents and evidence to be provided electronically.Government Regulations for Rental Business
21st September 2022 Due to the increasing popularity of condominiums and apartments in the city, which comes with several issues related to rental and utility bills; as a result, the Contract Committee of the Consumer Protection Board has issued a new notification, the Stipulation of Residential Property Leasing as a Contract-Controlled Business B.E. 2562 (2019) (the “Notification”), published on 31 October, 2019, this new Notification has canceled the earlier Notification the Stipulation of Residential Property Leasing as a Contract-Controlled Business Contract-Controlled Business B.E. 2561 (2018).New Rules for BOI Promotion of Digital Activities
21st September 2022 Thailand’s Board of Investment (BOI) announced the merging of its list of promoted digital activities into a single new category for software development, digital services platforms, or digital content (5.10) to support software development platform, digital services, digital content, and development of Thailand personnel in information technology.Digital Asset Taxes for Cryptocurrency and Digital Tokens
21st September 2022 The revenue department’s announcement regarding taxing cryptocurrency has been in effect on 13 May 2018; however, investors continue to face confusion, controversy, and other difficulties.Thailand Launches New Flexible Plus Programme to Attract Wealthy Foreigners
21st September 2022 The Tourism Authority of Thailand (TAT) recently released the new “Flexible Plus Programme” under the Thailand Privilege Card scheme. This programme is designed to attract high-income foreigners to stay and invest in Thailand by giving them a work permit and other privileges.Buying a House in Thailand – Handover Checklist
21st September 2022 When the owner of residential property changes, the last step after the visit to the land office and the receipt of the money is crucial: the handover of the keys; after this, the previous owner moves out, and the buyer moves in. At this point, all documents are handed over, a joint tour of the house is made, and meter readings and defects are noted. It makes sense to draw up a protocol for the handover of possession so that the sale of the house does not have any repercussions. We have summarized what you should pay attention to in the house handover protocol.How To Legally Rent Out A Property in Thailand
21st September 2022 As part of the steady economic recovery from the COVID-19 crisis, Thailand is gradually attracting tourists back into the country. Due to the increased number of visitors, short-term rentals through platforms such as Airbnb, including daily rentals, are in high demand, encouraging villa and condominium owners to set up short-term rentals by allowing tourists to stay in their properties. However, it is important to understand the legal implications of setting up short-term rentals in Thailand as a host.Thailand’s long-term resident visa (LTR) fee to be reduced by 50%
21st September 2022 Thailand’s cabinet has decided to halve the long-term resident (LTR) visa fee, bringing it down to 50,000 baht. The visa is designed for foreigners who have “high capability or potential” and would like to live in Thailand for up to ten years. This means that eligible highly skilled foreigners can now apply for the visa and pay a one-time fee of 50,000 THB in order to stay in Thailand for up to 10 years.What is a Share Pledge, and What Does it Involve?
21st September 2022 The pledge provides security in terms of performance by transferring a movable property from pledger to pledgee. Therefore, anything considered movable property can be pledged, even an instrument. An instrument is a document in which the issuer promises payment or right to a specific person, such as a bill of lading, a bill of exchange, or a share certificate.Applying for Thailand’s Long-Term Resident Visa (LTR): Requirements and Qualifications
21st September 2022 The Thai government recently announced that they are making some changes to the Long-Term Resident Visa (“LTR”) requirements intending to attract more foreign residents to come to Thailand.Changing a Last Will with a Codicil
23rd December 2021 A codicil, or addendum, is a legal document that changes certain provisions of a will but leaves all other provisions unchanged. You can change, update or even revoke your will completely at any time as long as you are mentally competent. This article will look at some scenarios of when you could make a codicil or consider a completely new will.DBD Certification: Verification System and Trustmarks
13th December 2021 This article discusses the different types of verification marks of the Department of Business Development (“DBD”). It will look at the requirements for each verification mark and the purpose of the verification system.Thailand to Offer 10-Year Visas Targeting Wealthy Foreigners
8th November 2021 The Cabinet of Thailand has recently planned significant changes regarding immigration policy and rules on foreign land ownership.Types of Hotel License in Thailand
25th October 2021 This article looks at the hotel license requirements and licenses available in Thailand under the Hotel Act B.E. 2547 and the application procedures.Setting up a Regional Office (RO) in Thailand
5th October 2021 Under the Thai Foreign Business Act (“FBA”), A.D. 1999, foreigners who engage in certain business sectors, including any service business, require a Foreign Business License (“FBL”) to operate legally. However, under the new Ministerial Regulation of the Ministry of Commerce, a Regional Office is not considered a restricted business under the Foreign Business Act (FBA). Therefore, regional offices do not need to apply for a foreign business license to operate in Thailand.Guide to the Latest Thailand Elite Visa Packages in 2021
16th September 2021 The Thailand Elite Visa is a long-term Thai visa provided to Thailand Privilege Card members offering benefits and residency in Thailand for a set period of time, often with the option to renew the visa. The programme is managed by the Thailand Privilege Card Company Limited, under the Ministry of Tourism and Sport.Purchase Price Provisions in M&A Transactions
9th September 2021 One of the most important areas of regulation in the acquisition of a company is the purchase price provisions. This is an extremely complex issue in which various aspects have to be considered. In addition, the opposing perspectives of buyer and seller have to be reconciled. In this respect, various basic models and approaches have become established in M&A practice. These vary in complexity so that correspondingly complex procedures should only be applied in larger transactions, while others are more suitable for medium-sized company sales. A distinction must be made between regulations that govern the determination of the purchase price and those that define the payment modalities.Is It Secure to Use E-Signatures for Commercial Transactions in Thailand?
1st September 2021 This article discusses the topic of e-signatures and electronic transactions in Thailand. For reasons which we will cover in this article, it is often best to seek legal advice before using e-signatures in the Kingdom.Latest Legal Updates to Thailand 4.0
14th July 2021 While Thailand slides deeper and deeper into economic crisis, the government’s national development plan “Thailand 4.0”, which was already launched in 2016, remains one of strategies for recovery and progress. Thailand 4.0 was implemented to enhance the worldwide competitiveness of Thailand’s business environment and drive the digitalization of its government to provide its citizens and businesses with more efficient public services. The digitalization of the private and public sectors aims to advance the country’s overall economic competitiveness. In addition to infrastructure projects, like the expansion of broadband or fixed internet connections and the launch of initiatives such as the Smart City Development project, Thailand 4.0 also includes a legal framework to support Thailand’s progressing digitalization.Proposed Amendments To Thai Real Estate Law
15th June 2021 Thai business media have reported that sources in the Thai government leaked information stating that laws and regulations on land ownership for foreigners could be set to change, so foreigners would have the option to buy and own a detached house, including the land on which the house is built, as long as the value of the home and land is at least 10 million THB. Also, the quota of condominium units that foreigners can own is expected to be increased from the current 49% threshold. Furthermore, the maximum terms for land leases are planned to be increased significantly.Trademark Registration under the Madrid Protocol
2nd June 2021 Trademarks are used to identify and protect a particular product or service. Companies often invest a significant amount of money in introducing and establishing a trademark. To protect this investment, it is essential to grant exclusive use to the investor.PDPA Effect Date Again Postponed
19th May 2021
The enforcement date of the Personal Data Protection Act (PDPA), 1 June 2021, is postponed by another year.
Thailand’s Statutory Interest Rate Amendment
13th May 2021 On 10 April 2021, Thailand made significant changes to the statutory interest rate framework for the first time as the interest rates specified in the Civil and Commercial Code (“CCC”) have been enforced for almost a decade. The trigger for the change in the interest rate was due to Covid-19’s recent impact on the Thai economy.Liability of Shareholders in a Thai LLC
6th May 2021 By definition, the liability of shareholders in a “limited liability company” is limited. However, in many countries case law has evolved that “pierces the corporate veil”. In this contribution, we will analyze whether the principle is upheld strictly in Thailand, or whether there are significant exemptions.Signing and Closing in Mergers and Acquisitions (M&A)
8th April 2021 Negotiations of business acquisitions are often complicated and drawn out. After successful contract negotiations, the parties are usually keen to complete the business purchase quickly. However, due to the complexity of such transactions, it is common practice that the actual economic transition takes place with a significant delay after the date of the signing of the contract. We outline the terminology surrounding business takeovers and the concept of “signing” and “closing” below.Social Security Contribution Temporarily Reduced
16th March 2021
Due to the recent second outbreak of COVID-19 in Thailand, the Thai government then restricted some businesses from operating, which results in an increase in unemployment or reduced income for most people. As a method to ease the burden, the Ministry of Labor published a new regulation on 30 December 2020 under the Social Security Act (“SSA”) in the Royal Gazette called The Regulation on Determination of the Amount of Contributions to the Social Security Funds B.E. 2563 (2020) (“Regulation”).