Legal Update Blog
The New Destination Thailand Visa: A 5-years Visa with a Doctor’s Appointment
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.
BOI Thailand – Incentives and Procedure
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:
Thailand’s New Plan: Taxes on World Income?
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.
New Boost for Investment in Thailand: Relaxation of Real Estate Law Planned!
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.
Eco-Friendly Investments: BOI’s Framework for Energy and Environmental Sustainability
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.
Ensuring Data Privacy in HR and Recruitment: Understanding Thailand’s PDPA
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.
BOI Promotion Thailand: Congrats to Spaleck Thailand
Sanet is proud of having successfully guided Spaleck GmbH on its path to direct market entry into Thailand and Southeast Asia.
After successfully managing the legal challenges, Sanet now will also handle the payroll and accounting services in Thailand and CREATING CAREERS, Sanet Group’s Thai recruitment agency will engage the right sales and service team.
The additional establishment of a production facility in Thailand is now firmly in the management’s sights. This new venture is expected to bring considerable additional tax and customs benefits, which will further strengthen Spaleck’s competitiveness.
The success story began in 2021 …
Sanet Legal Ltd. becomes “Sanet Legal & Accountancy“: Accounting in Thailand
The Sanet Group in Bangkok is now offering accounting services in Thailand for international SMEs. Sanet Legal Ltd. will thus be formally renamed “Sanet Legal & Accountancy” from April 2024.
Three “SME Packages” include everything needed for legally compliant and management-oriented accounting, such as accounting, monthly reports, tax declarations and reports tailored to the needs of both well-established companies and start-ups.
Under the guidance of a certified auditor, Sanet also offers payroll services, BOI reporting and audits for local and international SMEs.
In close cooperation with the lawyers under the common umbrella, shareholder resolutions and meetings will be prepared and implemented in a legally secure manner.
Thus, the Sanet Group further rounds off its position as a comprehensive service partner for Thailand-based corporations.
Case Study: Troublesome Joint Venture in Thailand
As a consultant and “cultural ambassador”, Sanet helps a German machine builder with its Joint Venture in Thailand.
The German machine manufacturer held 75% of a sales and service Joint Venture in Thailand. A Thai partner owned 25% of the shares and managed the business single-handedly and largely without any direct intervention by the German majority partner. Little attention was paid to the Thai subsidiary.
The earnings were okay, but the sales figures were not impressive enough to make the Thai company the focus of the group management. After the company was established in Thailand, the German Controller came once a year for the annual accounts and soon returned home without any major problems. Market shares, market policy and the local company management were largely unaware of the situation at headquarters.
The surprise came as soon as the Thai partner wanted to introduce a successor.
Work Permit for Thailand: This is the Legal Situation
“If you sweat you work” Based on this satirically exaggerated principle, the Thai legislature requires a work permit for any activity that requires mental or physical exertion, regardless of whether it is paid or not.
Misleading or simply false information on the internet about new visa types such as the ‘Work-From-Thailand-Visa’, or “remote work” for foreign employers has led to confusion regarding the unchanged need for a work permit for Thailand.
Sanet Legal Ltd, the German speaking lawyers in Thailand provide clarification:
INVESTMENT IN THAILAND PAYS OFF
If you want to service the Asian markets from an environment characterized by a secure legal system, a top infrastructure and state-of-the-art industrial parks, the only question is whether you can afford in the long term to forego an investment in Thailand.
Investing in Thailand offers investors benefits that investors in other countries can only be envious of. The economic and political environment of this country in the heart of Asia is stable and characterized by thousands of modern manufacturers and suppliers in the electrical and automotive industries. Government incentives are generous, based on sound legal regulations and have been providing support for many years.
A labor market with technically outstanding engineers and skilled workers awaits investors. And an infrastructure with highways throughout the country, three deep-sea ports, punctual elevated express trains, whose network is growing rapidly every year, eases economic activity. An excellent healthcare system and a high quality of leisure time also make life worth living for investors in Thailand.
In addition, the Sanet Group has been offering a full service for investors in Thailand for 20 years, from strategy consultancy to legal implementation, the entire project organization with site evaluation and tendering, right through to applications for incentives or recruitment.
Thailand Privilege Visa: How to Expect Privileges and Exclusivity in Thailand
If you are looking for the right visa for a long-term stay in Thailand, you will probably come across the Thailand Privilege Visa. The new edition of the Elite Visa allows you a 5 to 20-year residence permit and luxurious privileges and services through Privilege Points. This is available to those who are able and willing to pay the necessary fees.