Legal Services & Resources 

In the past, all matters pertaining to Thai work permit application had to be filed in paper form. Recently, some work permit applications, especially those associated with BOI companies, can be filed online.

From an American tax perspective there are few appreciable benefits with respect to relative tax policy which would warrant placing the appellation "offshore jurisdiction" upon the Kingdom of Thailand.

Filing Audited Financial Statements and Balance Sheets on a yearly basis is legally required in Thailand. Failure to do so could result in criminal liability.

The US-Thai Treaty of Amity allows Americans to own 100% of a Thai company notwithstanding the Foreign Business Act, but there may be disclosure requirements with the US IRS.

Americans who have beneficial or ownership interest in Thai corporations may be required to disclose or be liable for taxes depending upon the specific circumstances.

The effective rate of VAT in Thailand has remained 7% for many years. A recent announcement notes that the rate could rise to an effective level of 10%, although actual implementation remains to be seen.

Payroll matters can be an important aspect of doing business in Thailand. This is especially true if the company employs foreign nationals as strict adherence to regulations regarding employment and social security can impact a foreigner's work permit.

Representative Offices in Thailand can have significant benefits, but they are narrowly tailored for specific purposes and oftentimes proposed endeavors in Thailand do not comport with the restrictions placed on these entities.

In Thailand, a Thai limited company is currently required to have three shareholders, but this requirement may change if proposed revisions come into effect.

Certain types of corporate structures can provide significant benefits to those foreign nationals wishing to do business in Thailand.