Recruitment companies in Thailand are set up to enable a business to hire personnel. Recruitment companies can also assist Thai businesses to employ personnel from abroad. The recruitment industry in Thailand is quite a developed one, with many Thai professionals looking for places to work and expats interested in acquiring a job in the land of smiles. However,…
The IT field in Thailand is an industry which qualifies for special Board of Investment (BOI) promotion, being one of the most developed industries in the country. Foreign investors generally face certain disadvantages when setting up a company in Thailand, because of the restrictions set in place to protect jobs for local citizens. However, the BOI…
VAT registration in Thailand is required when starting a business if the new company is projected to have a turnover that surpasses a certain amount. This tax was introduced in order to replace an older business tax. The value-added tax is a type of indirect taxation on the value-added of each phase…
The taxation system in Thailand is mainly regulated by the Thai Revenue Code, which governs the corporate income tax, the VAT, the Specific Business Tax and the stamp duty. Customs taxes are governed by the Customs Act. The excise taxation is regulated by the Excise Act and the petroleum income tax is governed by the…
Thailand has signed various “Agreements of the Avoidance of Double Taxation”, also known as double tax treaties, with numerous countries. The aim of these treaties is to avoid a company from a certain country to be taxed twice on income earned in the other country. The provisions of a double taxation treaty can be explained by…
A holding company is a corporation with no substantial activities of its own, whose business operations consist primarily of holding shares in other active firms (domestic and/or foreign) and accomplishing its earnings from these types of investments. A holding company is also a company created to buy and own the shares of other companies, which…
A joint venture in Thailand is an agreement between two or more parties, which are companies, come together for the same business purpose. The partnership may be formed by two companies merging or by two companies coordinating the business activities in a joint manner. Joint ventures between Thai and foreign companies are common…
Are you a foreign investor looking to open a partnership in Thailand? Here is what you should know. In this country, there are three types of partnerships which are recognized: 1. The Unregistered Ordinary Partnership: it is a partnership where all the partners have joint and entire liability for all the obligations;2. The Registered…
For persons that are non-residents of Thailand, setting up a bank account in this country is an option that heavily depends on an important condition, namely the possession of a work permit/visa here. Persons that possess one can open a bank account in Thailand at one of the following banks: Bangkok, Thai Bank, Kasikorn, Siam…
Foreigners who are taking into consideration to establish their business presence on the Thai market can choose to incorporate the company under several legal entities available for foreign nationals. It is advisable to receive the assistance of the local specialists for this procedure, as the local legislation provides several stipulations related to the business…
