In order to improve the work permit and immigration processes, the Board of Investment (BOI) of Thailand has recently introduced the e-Expert System for BOI promoted companies. This system allows for online processing of expatriate work permits and immigration formalities, including review and approval, through the Thailand BOI’s website whereas a user ID and password […]
When an employer company in Thailand wants to terminate an employee, they need to give an advance notice in writing before or on the date the salary payment is due for the termination to take effect on the next salary payment due date. If the employer terminates an employee and wants the termination to take […]
In order to help improve the performance of small and medium enterprises (SMEs), which are defined as entities with no more than Baht 5 million of paid-up capital and sales revenues of no more than Baht 30 million per annum, the Thai government has approved the following tax measures: Corporate income tax exemption on income […]
Thailand BOI has announced that it would allow 101 companies registered with the Ministry of Labour to continue hiring unskilled foreign workers until 31 December 2012, extended from 31 May 2012 as per an earlier announcement. In addition, incentives for machinery and technology improvement for increased production capacity will also be extended until the end of […]
The provision of services rendered within Thailand is generally subject to 7% VAT. However, if the provision of services is considered as “exported” under Section 80/1(2) of the Revenue Code, zero-rated VAT treatment can be applied in line with the procedures and conditions as specified under the following Notifications: – Notification of the Director-General on […]
Here are some friendly reminders for foreigners once they obtained a Thai Work Permit: 1. A work permit holder shall carry the permit with himself/herself, or keep it at the place of work while working, ready at all times, for presenting to the competent official or the registrar. Any permit holder who violates or fails […]
One of the several ways on how a foreign business can operate in Thailand is to obtain a Foreign Business License. In order to have a good chance to be granted a “Foreign Business License”, a foreign business applicant has to have all these 3 characteristics as follow: Being a juristic person (company) registered overseas […]
The fees involved in setting up a Thai limited company if you hire a full service professional firm are as follows: Professional fees: 1. Setting up a new company inThailand, including getting a tax ID and VAT registration – Professional fee – Baht 40,000 – 100,000 2. Getting a foreign business license (or certificate to […]
A dormant company is a registered company with no trading activities for a certain period. It is possible to register a limited company then keep it inactive since there is no time limit for keeping a company in dormant status (some refers to it as “shelf company”.) Thus, you may choose to put your company […]
How to close a Thai limited company? Some company owners decide to close down their Thai registered company either for the purpose of opening a new company or permanently cease doing business in Thailand. Whatever reasons you have for closing your Thailand business, legal, accounting and auditing assistance are required to ensure that the company […]