Sanet Blog
Automotive Industry Thailand: Advancing towards the EV center of Southeast Asia
Over the next five years, the BOI anticipates an investment volume of more than USD 5.5 billion for electric vehicles (EV) and EV-related investments in Thailand. Import duties and excise taxes will also be significantly reduced. The automotive industry in Thailand will thus further expand its leading role in the Asia-Pacific region. There are great opportunities for vehicle manufacturers, but especially for suppliers, in a flourishing production market.
China Plus One: Sanet and W+B in India collaborate on Management Consultancy in Asia
India and Thailand, the center of the ASEAN Economic Union, are considered to be the world’s fastest-growing economic regions until 2035. With the motto “China Plus One”, international investors are increasingly moving away from the risk of concentrating on China.
These risks are characterized by new tariffs and boycotts on Chinese products in the Western world, particularly the US and the EU, and the well-known threats to intellectual property as well as state interference in foreign investors.
Investment Thailand: The BOI Thailand Promotes Joint Ventures in the Automotive Industry with Tax Waiver
Watch out investors in the automotive industry: The Thailand Board of Investment (BOI) is promoting Joint Ventures manufacturing automotive parts until 31.12.2025. Anyone investing in Thailand’s automotive industry has the option of extending the general exemption from corporation tax by 2 and up to 8 years. The regulation applies to both newly established Joint Ventures in Thailand as well as to existing companies that take on Thai partners.
In addition, access to the Japanese automotive industry beckons with the addition of a Thai partner.
SANET ESB ROOFTOP NETWORKING
On November 1st, 2024, at 6 PM, the next after-work networking event for managers from the Eastern Economic Corridor will take place. The evening is organized in cooperation with the ESB Stammtisch and will be held for the first time at the rooftop bar of the Somerset Hotel Pattaya.
Validity of Electronic Signatures: Thai Business Law
The electronic signature (“e-signature”) of contracts in Thailand is regulated by the Electronic Transactions Act B.E. 2544 (“ETA”). The law represents a significant facilitation of business transactions in Thailand. Even foreigners can use the e-signature to process their contractual agreements with Thai companies. However, this does not apply to every contract, so you should always exercise caution when using electronic signatures.
Have you ever thought about signing a contract without holding the documents in your hand? Sanet Legal & Accountancy the Thai, English and German speaking lawyers in Thailand, will clarify whether and how this is permissible and when such contracts are legally binding.
SANET KEY NOTE AT THE „EASTERN SEABOARD ROUND TABLE“ IN CHONBURI
The “Eastern Seaboard Stammtisch” regularly invites managers based in the important industrial region around the deep-sea port of Laem Chabang to insightful events on legal and economic issues in Thailand.
A particularly well-received event took place on September 13, 2024. The guest speaker was the managing partner of Sanet Legal & Accountancy, Mag. Fabian Sonntagbauer LL.M.
When a Bonus Payment Becomes Mandatory: Labor Law in Thailand
As a general rule, a bonus agreement in a Thai employment contract is a voluntary benefit. However, under certain circumstances it may become mandatory. A clause that would eliminate the bonus in the event of a negative annual result would also be unlawful.
In the business world, employers particularly value those employees who perform productive work and are committed to the company. Many employers therefore offer employees the chance of a bonus in order to motivate them to work hard and commit to the company. Employees are usually paid such a bonus at the end of the year, depending on their performance. The amount of the bonus is at the discretion of the employer.
Yet, a legal dispute often arises when the employer exercises its discretion not to pay a bonus to individual employees or to all employees. The Thai Supreme Court has now delivered a judgment on the bonus in the Thai employment contract.
Success has a reason: Creating Career is a FAST-GROWING Recruitment Agency in Thailand
Admittedly, a proper recruitment process cannot be completed in two or three weeks. Admittedly, too, that using CREATING CAREERS to search for shop floor or unskilled employees goes beyond the time and financial scope for such positions. A good HR manager is the best choice here. He knows his people, he is aware of their social situation and a good HR manager also knows how to keep staff turnover within limits.
It is particularly true that it is extremely difficult to describe and prove the quality of a recruitment process unless you can present evidence from a successfully completed recruitment assignment. We strive to strengthen all of these three tools:
Market Strategy for India: WB’s Expertise in the Indian Market
As India emerges as a key player in the global economy, businesses worldwide are recognizing its potential as a top investment destination. For a seamless and effective expansion into India, choosing the right partner with extensive experience is crucial.
For companies considering expansion into the Indian market, our long-standing partner, the Dr. Wamser + Batra Group (WB), offers unparalleled expertise and support. Established in 2003, WB offers a comprehensive range of services, including market entry, sales development and optimisation, procurement and production, recruitment, crisis and interim management. WB also provides tax and auditing services. To date, WB has successfully assisted around 750 German and European clients. With a proven track record, WB is a reliable partner both in Europe and locally, supporting companies in every phase of their operations.
Seminar “Establish a Legal Presence in Thailand”
We are pleased to invite you to a seminar hosted in cooperation with the Eastern Seaboard Stammtisch on September 13, 2024 at 5 p.m. at The Gems Mining Pool Villas in Chonburi.
Sanet COO Fabian Sonntagbauer, LL.M. will present a legal overview tailored for investors interested in entering and expanding in the Thai market. He will cover essential provisions and share practical solutions for Thailand’s business environment.
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: