The new destination Thailand visa, specifically tailored for “digital nomads” – people who work from anywhere – allows for a long-term stay to work and travel in Thailand. Interestingly, this visa is also suitable for those who wish to participate in certain activities or medical treatments in the Kingdom.
A Production in Thailand is massively promoted by the Thailand Board of Investment (BOI). The financial incentives are high, yet the ISO-regulated procedure for a BOI Approval requires good knowledge of the BOI Thailand’s expectations towards the investor and a thorough application process.
The Sanet Group, which has been a reliable partner for Western companies since 2004 when it comes to finding a strategy and setting up sales or production in Thailand, explains the main features:
It was only at the end of last year that the current interpretation was announced, according to which foreign income imported into Thailand must be taxed in Thailand. Now the government is announcing the next bombshell: Tax residents are to pay tax on their entire global income in Thailand.
The Thai Ministry of the Interior has been commissioned to examine the implementation of new regulations. In addition to an extension of rental and leasehold rights from 30 to 99 years, majority foreign ownership of up to 75% of residential properties is also intended to be possible in the future. The aim of the regulations is to boost Thailand’s economy and to create more opportunities to encourage investment in Thailand.
Thailand Board of Investment (BOI) has introduced new guidelines to promote sustainable development. Effective April 30th, 2024, the guidelines encourage businesses to adopt energy-saving practices, renewable energy, and pollution reduction measures. In return, companies can receive significant tax and customs incentives. This initiative positions Thailand as a prime destination for eco-conscious investors, aligning economic growth with environmental responsibility.
In 2022, Thailand introduced the Personal Data Protection Act (PDPA) to establish clear guidelines for safeguarding personal data. As technology advances, the threat of data breaches rises, making these guidelines essential. The PDPA defines the duties of data controllers, like companies handling employee data, to ensure proper data management and protection.
Human Resources (HR) and recruiting departments, which frequently collect and manage personal data through job applications, employee records, and healthcare information, must comply with the PDPA. To meet these regulations, HR departments should follow several key guidelines for data protection.