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.
Remittance of minimum capital – Treaty of Amity
According to Ministerial Regulation (No.3), 2552 B.E. (2009), a foreigner conducting business in Thailand by virtue of a bilateral treaty or agreement to which Thailand becomes a party, i.e. The Treaty of Amity and Economic Relations Between the Kingdom of Thailand and the United States of America, must bring or remit a required minimum capital into Thailand within the period prescribed.
Further relaxation of the Foreign Business Act
Ministerial Regulation setting out the activities that do not require permission (No. 4), 2562 B.E. (2019), was published in the Royal Thai Government Gazette effective 25 June 2019.
Personal Data Protection Act Published
The Personal Data Protection Act, 2562 B.E. (2019) (“PDPA”) was published in the Royal Thai Government Gazette on 27 May 2019. The PDPA will come into force one year after the published date, except for provisions related to the Committee of Personal Data Protection and its office which became effective on 28 May 2019.
Amendment to the Labour Protection Act Effective May 2019
A Royal Decree on Labour Protection Act No. 7, 2562 B.E. (2019), which was published on 4 April 2019, and which became effective on 5 May 2019, addressed the following key issues.
Restricted Businesses List under the Foreign Business Act Updated
Currently, majority foreign-owned companies are not allowed to conduct certain service businesses in Thailand, such as providing loans, leasing office space, and providing advice, under List Three (21) of the Foreign Business Act, 2542 B.E. (1999) (“FBA”). If a business entity wishes to conduct such a restricted service business, it must apply for a foreign business licence from the Department of Business Development, Ministry of Commerce, before starting the business.