As the Thai government slowly lifts COVID-19 lockdown and travel restrictions, businesses must now face the challenges of operating in this new environment. Changes are confronting everyone, and businesses in every industry must adapt. In Thailand, there is some financial help available as companies feel the impact from COVID-19. We at GPS Legal have compiled an overview of the current programs in place.
Retiring in Thailand is a great idea. Low cost of living, fantastic beaches, lovely countryside, along with all modern amenities and services, including world-class medical care. The Thai government welcomes retirees from other countries with retirement visas and other long-stay visa options.
Since posting a warning in September 2019 on Facebook and LinkedIn about this business security license scam, we’ve received a steady flow of inquiries about obtaining a “business project security license”. We would like to reiterate that there is no such license requirement under Thai law.
The COVID-19 crisis has the entire world on edge. No more so than here in Thailand, where employers and employees worry about their respective companies and jobs as the days unfold. GPS Legal would like to follow up our interview with BrandNow Asia by outlining some of the rights and obligations that employers and employees have during these uncertain times.
GPS Legal Managing Partner Lawrence Chaney recently discussed the legal implications of Covid-19 on business with BrandNow Asia. He covers employee and employer rights regarding furloughs, sick leave, and pay cuts. He also explains how this health crisis may or may not qualify as a trigger for force majeure clauses in business contracts.
Last year, Thailand passed the Personal Data Protection Act (PDPA) to ensure data privacy in the Kingdom. The official Royal Gazette announcement was on May 27, 2019, and the law provided a year for relevant parties to ensure compliance. As there are only a few months from this article’s publication date before the law comes into full effect, we would like to remind employers and employees of their rights and responsibilities under the PDPA.
As an employer in Thailand, you should be aware that Thailand’s minimum wage increases (Link in Thai) went into effect as of January 1, 2020. What you may not be aware of is how these increases could impact your foreign employees as this relates to their work permit and visa applications. We feel that this is also a good time to go over local employee to foreign employee ratio requirements.
Foreign businesses in Thailand must comply with specific minimum capital requirements. These amounts differ depending on a multitude of variables, including the type of entity, the type of activity, the number of foreign employees, and whether the entity requires a Foreign Business License (“FBL”), a Foreign Business Certificate, or received promotion from Thailand’s Board of Investment (“BOI”).
Estate planning is an important if not essential task that everyone should be concerned about. This is especially true if you are married or have children, if you own a business or hold substantial assets that you want to protect if you pass away or are incapacitated, particularly in today’s global environment where families, residences, domiciles, and assets can be located across multiple jurisdictions.
Thailand is growing in popularity as a destination for expats to call their new home. However, many foreigners believe they must be employed with a work permit, marry a Thai, or wait until they are 50 years old to apply for a retirement visa, or otherwise risk being denied entry by immigration officials by making multiple visa runs across the border. In fact, there are other options for those with reasonable means. While not a solution for everyone, investment visas are available to those who have five, ten, twenty, or forty million baht in qualified investments in Thailand.