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.
Amendments to provisions of the Civil and Commercial Code related to limited companies
On 8 November 2022, amended provisions of the Civil and Commercial Code (“CCC”) were published in the Royal Gazette, to be effective on 7 February 2023. The key amendments related to limited companies are as follows:
New method of calculating interest on the hire-purchase of car or motorcycle
The Committee on Contracts of the Office of the Consumer Protection Board recently issued a new notification regarding hire-purchase contracts for cars or motorcycles, effective on 10 January 2023.
Overtime work
Overtime work is where an employer occasionally would like an employee to continue working after normal work hours or to work more hours than normal on workdays or holidays, which an employee can agree to do. The employer must order the employee to work overtime in accordance with an agreement to do so which has been made in advance. The length of time to be worked overtime must be clearly defined.
Visa exemptions and visas on arrival extended
The Centre for Covid-19 Situation Administration recently approved a measure extending the visas of foreigners entering Thailand from 1 October 2022 to 31 March 2023 in order to boost tourism, improve the economy, and reduce the impact of the pandemic.
BOI incentives for majority foreign-owned entities to own land
The BOI recently announced conditions for majority foreign-owned legal entities which have paid-up capital of at least THB 50 million to own land.