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.
Changing the Accounting Period
Changing the accounting period requires approval from the Company’s shareholders, the Revenue Department and finally the Ministry of Commerce.
Employee Welfare under the Foreign Business Act
Many foreign companies (i.e. majority of shareholders are non-Thai) provide certain benefits to their employees which, if provided as a business operation would be prohibited under the Foreign Business Act unless the company had a Foreign Business License.
Evidence Required During Company Incorporation
A newly incorporated majority Thai owned (except 100 % Thai) company is required to prove the financial status of the Thai shareholders.
Work Permits for Newly Established Companies
When a newly established company is applying for a first time work permit, the Labour Department requires the Social Security Contribution form (“SorPorSor1-10”) to show at least one Thai employee.
BOI Compliance After Obtaining the Promotion Certificate
Once an applicant has obtained the Promotion Certificate from the Board of Investment (‘BOI’) Office, the promoted company must comply with the following conditions: