THANATHIP & PARTNERS
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New BOI Scheme for Startups
February 2025
On 15 July 2024, the Thailand Board of Investment ("BOI") unveiled a funding scheme under the Competitiveness Enhancement Policy Committee for Target Industries (the “Committee”) (Announcement No. 2/2567 ), aimed at accelerating the growth of high-potential startups. This newly introduced framework supersedes the previous program established under Announcement No. 2/2564 and its subsequent amendment.
Thailand’s Financial Hub Act: Key Provisions and Objectives
February 2025
The Thai Cabinet has recently approved the draft Financial Hub Act (the “Act”), with the aim to establish Thailand as a global hub for financial industries, attracting foreign investment and enhancing employment opportunities for the Thai labour force.
Legal Requirements and Key Considerations for a Merger and Amalgamation in Thailand
January 2025
In 2022, the Thai Civil and Commercial Code (the “CCC”) underwent a significant amendment, introducing the concept of a merger, which allows one merging entity to remain in existence. While this concept may not be new for other jurisdictions, it is a development for Thai private companies and is expected to impact business integration. Although this new concept is not applicable to public companies, we believe it is worthwhile exploring the key business consolidation schemes currently available under the relevant primary corporate laws and the key considerations when deciding to implement a merger and/or amalgamation.
Cross-Border Transfer of Personal Data
January 2024
On 25 December 2023, the Personal Data Protection Commission (the “PDPC”) issued two notifications relating to cross-border transfer of personal data, namely:
New Tax Guideline on Foreign-Sourced Income of Thai Tax Residents
September 2023
The Revenue Department of Thailand has made a radical change to its longstanding principal as regards its treatment of foreign-souced income of an individual “Thai tax resident”.
Amendment to Takeover Regulations to Reduce Burdens and Increase Flexibility
May 2022
With effect from 1 May 2022, the Office of the Securities and Exchange Commission (the “SEC”) has amended takeover regulations with an aim to reducing burdens of private sectors,