Legal Section - Doing Business
You will find here a series of summaries providing an overview of useful legal regulations, processes and legal issues for Doing Business in Thailand.
IPO and the care of elderly and clinical research
Based on a decision by the Board of Investment (“BOI”) to boost investment in Thailand by reinstating the International Procurement Office (“IPO”) and launching new investment projects for the care of the elderly and clinical research business activities, the BOI issued Notification No. Sor. 1/2021 dated 13 January 2021 adding new business activities to business category 7 and prescribing the related conditions and incentives.
Retirement and early retirement
Under Thai Labour Protection Act, employers can force their employees to retire at the age set out in work regulations, internal policies, or employment agreements. However, if a retirement age is not stipulated anywhere, the statutory retirement age is 60, and the employee must inform the employer of his intention to retire. The employee’s retirement will become effective 30 days after the date on which the employee informs his employer.
New Smart Visa for Digital Nomads
Many foreign digital nomads have entered Thailand under a tourist visa and begun working without obtaining a work permit, as there are no specific requirements for digital nomads to apply for a work permit set out in labour law.
Significant incentives approved by the Board of Investment
The Board of Investment (“BOI”) approved a comprehensive set of incentives to boost investment in the following sectors:
No requirement for foreign licence in 3 businesses
The decision of the Ministry of Commerce (“MoC”) to propose removing the following three businesses from the list was made to facilitate foreign investment in Thailand.