THANATHIP & PARTNERS
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Implementation of Partnership and Company Registration via DBD Biz Regist
March 2025
Following the implementation of the regulation governing online registration of partnerships and limited companies, the Department of Business Development (the “DBD”) has officially launched the new digital registration system called the DBD Biz Regist on 16 January 2025. As part of the transition towards having the DBD Biz Regist as the sole business registration channel in Thailand by 1 July 2025, the DBD has discontinued its online pre-reservation system for business registration since 3 February 2025 to encourage the use of the DBD Biz Regist instead of a physical system which has long been in use.
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”.