TM 9 Form in Thailand for Permanent Residence

 Are you planning to stay in Thailand permanently? It will be a great decision! It is because Thailand is highly favorable and attractive in terms of food, climate, culture, nature, and people for people from anywhere in the world. Obtaining a Permanent Residence Visa in Thailand is the simplest way to stay in Thailand longer. This eliminates the liabilities of a visa renewal or extension. For that filing the TM 9 Form correctly for Permanent Residence in Thailand is a very crucial factor.

But, to have this accomplished, you must know about the Documentation process of the same. The most important part of the document preparation process is filling up the TM9 form correctly.

• Qualification to Fill Up TM 9 Form
• How does the Thai Government consider TM 9 Applications?
• Fees for Permanent Residence Application
• Important Points to Remember – TM 9 Application Filing
• Role of Immigration Lawyer

Mandatory Qualification to Fill Up TM 9 Form in Thailand

A foreign national may qualify to apply for a residence permit if he/she –

1. holds a passport of his/her current nationality, which was granted a NON-IMMIGRANT VISA. Additionally, he/she has permission to stay in the Kingdom of Thailand on the basis of a one-year visa extension. This must be for at least 3 consecutive years up to an application submission date. 

2. holds personal qualifications that fit one of the following categories: 

• Investment Category 
• Working/Business category 
• Humanity Reasons category: He/she must have a relationship with a Thai citizen or an alien who already holds a residence permit as the followings: 
  • A legal husband or wife. 
  • A legal father or mother. 
  • A child who is under 20 years of age up to the application submission date must be single. 
• Expert Category 
• Extra circumstances on a case-by-case basis – For more information

Process of Considering TM9 Applications in Thailand

1. The applications will be submitted for consideration by The Immigration Commission which consists of representatives from The Ministry of Interior, The Ministry of Foreign Affairs, The Royal Thai Police Headquarters, The Ministry of Labour, the Office of the Attorney General, The Board of Investment of Thailand, The Secretariat of the National Security Council, The Tourism Authority of Thailand, and The Immigration Bureau with the final approval by The Prime Minister and The Minister of Interior. 
2. To grant approval for the residence permit application, The Immigration Commission will take into its consideration the applicants’ qualifications in terms of income, assets, knowledge, professional expertise, relationship with a Thai citizen, national security, personality, health, the understanding of Thai language, and other appropriate conditions due to current economic and social surroundings, and government policy. 
3. Timing for the consideration process varies each year, depending on the policy of The Immigration Commission and The Ministry of Interior.

Fees for Permanent Residency in Thailand

A non-refundable fee for each application is 7,600 baht. The application fee is not refundable irrespective of the grant of the PR permission. 

After the approval of an application, the fee for the residence permit is 191,400 baht. However, the residence permit fee for spouses and children (under 20 years of age) of aliens who already had a residence permit or Thai citizens is 95,700 baht. 

Now if you are eligible according to the mentioned guidelines, capable of paying the fees, and have no records of bankruptcy, legal blacklisting, or contempt of court in your nation, you are free to move forward with the TM9 Application Form for Permanent Residence in Thailand.

To start with, let us make the form available for you! Download the TM9 Form for Permanent Residence in Thailand from the section below.

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What to keep in mind while filling up TM 9 Application Form for PR in Thailand?

1. Your TM 9 application form is incomplete without the complete set of documents required with the form.
2. All the details that you provide in the form must have documental proof.
3. All documents that you submit with the TM 9 form in Thailand must be issued not more than 3 months earlier than your date of application for the PR.
4. Documents that you submit must have a translated Thai copy with it along with notarization.
5. Primarily, you must be able to produce the following documents along with your TM 9 application form –
   • A medical certificate issued by a hospital in the 3 months prior to the application date.
   • Proof of no criminal record from your home country and certified by your embassy. If your country has criminal record checks with and without fingerprints, you’ll probably need the one with a fingerprint check.
   • Maps in the Thai language of your place of residence and work.
   • Photographs of the exterior and interior of your home and workplace.
   • Copies of annual personal income tax forms with receipts for the previous 3 years.
   • Copy of each month’s personal income tax forms with receipts (PND 1) from January of the year of application until the month before applying.
   • Copy of Value Added Tax (VAT) registration of the company.
   • List of company shareholders.
   • Company balance sheets and income tax with receipts (PND 50) for the previous 3 years.
   • Copy of passport showing 3 years of travel history to Thailand.
   • Copy of work permit.
   • Personal Information sheet and the applicant’s portfolio, which includes detailed information about family background, knowledge and ability, working experience, special ability, social work, workplace, and residence together with a photo.

It is highly recommended that you consult an Immigration Law Firm to guide you throughout the process of acquiring permanent residence in Thailand. 

Do you need an Immigration Lawyer?

It is completely your decision whether to take assistance from an Immigration Law firm or not. Although there is no assurance that the assistance of an immigration law firm will be able to help you get approval for the PR. However, statistics signify that consulting a law firm increases your chance of getting approval.

At Konrad Legal Company Limited, we have an experienced and professional legal team who can give you free consultation pertaining to PR applications. And will assist you all the way to your application should you decide to avail yourself of our legal assistance. Moreover, with lots of document work, you may get exhausted running from one public office to another, especially if you have your job to do during the daytime. 

Some of the major reasons that make it necessary for you to hire an Immigration Lawyer – 

1. Lawyers can evaluate your qualifying chance for Permanent Residence. Additionally, your precious time won’t be wasted reading through the different categories and the associated qualifications and requirements. Immigration lawyers of a reputed firm like Konrad Legal have all the information at their fingertips.  

2. The documentation and application process to obtain a Permanent Residence in Thailand is very cumbersome. Additionally, you will need legal support in fulfilling the notarization, translation, and attestation tasks. Therefore, to put the right papers in the right place, you will need an immigration lawyer. 

3. If you are not of Thai nationality, language is going to create a hindrance in your process of applying for a Permanent Residence Visa in Thailand. You have to interact with officials during the application process which includes your visits to the tax office, revenue office, or immigration booth. Nevertheless, not all officials may be comfortable speaking in English. So a local Immigration Lawyer or Law Firm will make things simpler for you in this regard.

Additionally, it is very tiresome to keep yourself updated with all the announcements and news related to the PR Visa. A seasoned immigration law firm, being in the industry, always stays updated in the process.

If you are seriously thinking to settle permanently in Thailand, express your interest to us. Therefore, email us at officer@konradlegal.com to get complete assistance on Permanent Residence Visa, from application to issuance, in Thailand.

Permanent Residence Application in Thailand for 2022 has Started!

Do you intend to settle permanently in Thailand? If this is your plan, then go for Permanent Residence in Thailand. If you are successful in the process, you get legal permission to stay permanently in Thailand. No more would you have to worry about Visas or Visa extensions. Moreover, this will be a stepping stone for you on the path of obtaining Thai Citizenship.

For your information, the window for accepting Permanent Residence Visa in Thailand for 2022 has already opened and will accept applications till December 29, 2022. But before proceeding, you must have a thorough knowledge of the various aspects of this process of immigration to Thailand. We’re going to walk you through all the prerequisites, steps, fees, benefits, drawbacks, restrictions, and preparation tips for obtaining permanent residence in Thailand in this article.

• Permanent Residence in Thailand: Legal Significance
• Advantages of Permanent Residence in Thailand
• Demerits of Permanent Residence in Thailand
• Requirements for Permanent Residence in Thailand
• Process of Permanent Residence in Thailand
• Cost to Get a Permanent Residence Visa in Thailand
• Permanent Residence Certificate in Thailand
• Make your PR Visa Application in Thailand Successful

What is Permanent Residency in Thailand?

Anyone who intends to live in Thailand continuously or for an extended period of time must apply for permanent residence or PR. The Thailand Immigration Office refers to it as a resident’s visa or residence permit.

You can stay in Thailand forever with it. You do not need to obtain a visa and continually extend it. When entering and exiting Thailand, you can even use the Thai passport control line. You will be one step closer to obtaining Thai citizenship once you have obtained permanent residency in Thailand.

Advantages of Permanent Residence in Thailand

The ability to live continuously in Thailand isn’t the only benefit of permanent residence.

These are some of its additional benefits:

• 90-day notifications and TM30 reports are no more mandatory for a person with a PR.
• You may be included in a standard house registration (Tabian Ban a.k.a. blue book). Consequently, you no longer need to obtain a residence certificate in order to obtain a work permit, open a bank account, or obtain a driver’s license.
• Based on your permanent resident status, your spouse and children may be granted dependent visas.
• In order to purchase a condo in Thailand, you no longer need to transmit money from overseas.
• When entering and exiting Thailand, you can use the same line as Thai citizens.
• If you and your partner both have a PR status, your children will be eligible to apply for Thai citizenship.
• After five years, you can petition for Thai citizenship.
• In Thailand, you can serve as a director of a public business.

Demerits of Permanent Residence in Thailand

Becoming a PR, however, is not the same as being a Thai citizen. It has various restrictions, including the following:

• More than 364 days cannot be spent away from Thailand in a row.
• When working in Thailand, a work permit is still required. But now that you’re not required to obtain a business visa, it’s a lot simpler.
• Obtaining re-entry permission is still required before departing Thailand.
• You are not yet able to purchase real estate.
• Every five years, you must complete a notification at your neighborhood police station.

Requirements for Permanent Residence in Thailand

The basic prerequisites for applying for a residence permit include having a non-immigrant visa and having visited Thailand for at least three consecutive years with the same extension of stay.

Your extended visa must still be in effect at the time of application. You can apply for permanent residence, for instance, if you stay in Thailand for three years and receive a stay extension based on your business visa.

On the other hand, you cannot apply for permanent residency until you have lived in Thailand for a further three years with an extension of stay based on your marriage visa if you enter with a business visa and stay there for three years before switching to a marriage visa.

Process of Application for Thai Permanent Residence

Obtaining permanent resident status in Thailand needs some extra effort. It requires extensive planning, a tonne of paperwork, and numerous steps.

Let’s look at the steps involved in requesting permanent residence.

**Please be aware that the application process could change at any time.

For the most recent information, you should always check with your local immigration office.

Filing Documents

In Thailand, obtaining a residence visa necessitates a significant amount of paperwork.

You need to obtain some paperwork from your home country, some from your company, and some from the Thai government.

The Ministry of Foreign Affairs must also legalize a number of documents.

Before obtaining a document of authorization from the Ministry of Foreign Affairs, you have to notarize it from your embassy if its issuance was from outside of Thailand. It might be necessary to translate some documents into Thai.

They essentially want to know every detail about you. The total number of pages in the documents you need to produce may be considerably over 100.

So it makes sense to get things ready in advance.

To learn what documents you require based on your category, get in touch with your neighborhood immigration office. It varies from person to person and is subject to change annually.

Interview

You must wait a few months (or longer) after submitting all of the required paperwork before the immigration authorities schedule an interview with you.

Thai is the language of preference during the interview, which will be filmed. You must sign a statement in Thai based on the interview after the interview.

You may have to take a Thai multiple-choice exam after the interview. If you are unable to read Thai, an immigration officer will assist you.

Common questions on the multiple choice test are about Thailand (for instance, how many provinces are there in Thailand), culture, and the PR procedure.

They can also ask you for further paperwork as you wait for the interview.

Evaluation

The Immigration Commission is made up of a representative from each of the following government agencies:

• Ministry of Interior,
• Ministry of Foreign Affairs,
• Board of Investment,
• Royal Thai Police,
• Office of the Attorney General, and,
• National Security Council.

These government agencies reserve the right to then review, score, and award points for your application.

To pass the test, you must receive at least 50 of a possible 100 points.

The Thai Immigration Office provides you with a general idea of the evaluation factors, which include education, income, knowledge, skill, relationships with Thai citizens, Thai language proficiency, personality, attitude, and even your contribution to Thailand and its society, even though they don’t publicly disclose how the point system operates.

Additionally, you can receive bonus points if you belong to a charitable organization and consistently give to it.

Immigration agents may visit your area and inquire with your neighbors about your behavior during the evaluation.

Throughout this process, there is nothing you need to do.

Final Approval

Your application will be sent to the Interior Minister for final approval if you pass the evaluation.

It is not unusual for the examination and final approval processes to go longer than a year. It may even take longer than three years on occasion.

Permanent Residence Certificate in Thailand

When your application is accepted, the immigration office will send you a letter with specific directions on how to obtain your certificate of residence.

Typically, all you need to do is gather a signed copy of your personal documents, gather some photos, visit your local immigration office, and make your final payment.

After receiving the certificate of residence, you must visit a police station to obtain an alien book and a district office nearby to be recorded on a house registration book (Tabien Baan – blue book).

Please be aware that the local district officer may ask you and the home’s owner questions to make sure you two are familiar with one another.

How Much Does a Permanent Residence Visa Cost?

You must pay the initial government fee of 7,600 baht when you apply for permanent residency.

Once your application for permanent residency has been approved, you must pay an additional 95,700 or 191,400 baht in government fees, depending on your category.

For instance, the fee for applying for permanent residence based on marriage is 95,700 baht, whereas the fee for applying under the job category is 191,400 baht.

This does not, however, include the price of document preparation, which varies greatly from person to person and includes translation, notarization, and legalization.

The price of document preparation may easily exceed 10,000 Baht.

The Bottomline

Obtaining a permanent residence permit is a smart move if you intend to stay in Thailand permanently. You won’t ever have to be concerned about your visa again with it.

Despite being eligible, some people choose not to participate in it at all. They are unwilling to deal with the drawn-out, challenging process. Additionally, securing a visa in Thailand for over ten years is more expensive than getting permanent residence.

Some individuals only obtain the 20-year Elite visa. Though it is the most expensive choice, it is also the simplest. However, whether you go for a Permanent Residence Visa or Elite Visa, you will need the support of immigration professionals due to the following reasons:

1. Knowledge and experience in the Thai Immigration protocols
2. Completion of the complex documentation process
3. Translation and Notarization of your documents

When you come to Konrad Legal Company Limited, you get some additional services from a single point which are:

1. If you are willing to do business in Thailand after getting the PR Certificate, we specialize in business registration in Thailand.
2. We will be by your side in all types of accounting and taxation requirements.
3. We have more than a decade of experience in payroll management, which can be helpful for you if you open a company in Thailand.
4. Our team comprises professionals experienced in licensing and civil documentation.

For any and all types of immigration requirements to Thailand, feel free to inform us at officer@konradlegal.com.

All About Copyright Registration in Thailand

An intellectual property right called copyright gives the makers of original artwork or other tangible manifestations of ideas ownership rights. These terms frequently refer to written works, audiovisual works, computer programs, sculptures, paintings, works of architecture, and works of applied art.

In addition to the sole right to use, publish, and profit from their creations, copyright gives writers, painters, and other creators a moral right. Learn more about moral rights by clicking here.

Is your Mark Eligible to Get Copyright in Thailand?

How to Obtain Copyright in Thailand?

What Information to Provide for Copyright Registration in Thailand?

What Rights do a Copyright Confers in Thailand?

How Much Advantageous is a Recorded Copyright in Thailand?

For How Many Day is Copyright Protection Valid?

Help that you need to get Copyright in Thailand!

Eligibility for Copyrights in Thailand

Copyright is a legal concept in Thailand that safeguards the physical manifestations of authorship in all its many forms. The idea itself doesn’t get protection; rather, the expression of the notion gets so. To put it another way, copyright guards the style of expression rather than the content of the work. A work must exist in some physical form in order to get copyright protection.

Concepts, principles, discoveries, methods of use or operation, processes, systems, and scientific or mathematical theories are not eligible to receive copyright protection.

A wide variety of physical manifestations of ideas get copyright protection, such as the following:

• Literary works (advertisements, books, magazines, newspapers, website content, etc.)
• Computer software
• Musical works
• Dramatic works (choreography, dancing, acting, etc.)
• Artistic works (such as works of painting and drawing, sculptures, lithography, works of architecture, photographic works, illustrations, and other forms of applied arts)
• Audio-visual works
• Cinematographic works
• Audio recordings
• Broadcast works

Upon creation, a work has a copyright for a specific period of time, depending on the type of work. The only IP right that is enforceable without formal registration or recordation is copyright. However, it is crucial to highlight that efforts to commercialize or defend against infringement suffer a setback when there is no prior recordation of copyright ownership. You should remember that the copyright protection period clock starts running after publication for some types of works, and not from the time of their creation.

Process of Obtaining Copyright in Thailand

The creator of a work gets special rights through copyright. Therefore, ownership of the work to receive copyright and the existence of any prior publications are very significant factors to review a copyright recordation application.

Application for copyright recordation is only open to copyright owners. Even though the majority of copyright owners are the work’s creators, this isn’t always the case; in some instances, someone else may be the lawful owner(s). For instance, unless an agreement between the employer and employee specifies otherwise, employers are frequently the copyright owner of the creations of employees under the employer’s guidance. Assigned copyrights and inherited copyrights are two further instances in which copyright holders are not the original authors of the work. For instance, organizations typically file copyright applications for software rather than individual authors or producers (who are usually employees of such companies).

Copyright recording aims to build a legally valid basis for ownership of a created work. Recorded copyrights offer a defense against conflicting claims to ownership and use of a work.

In Thailand, the process of recording copyright entails filing an application, getting its review report, waiting for acceptance, storing it electronically, and receiving a certificate of recordation. Normally, it takes two to four months to finish the process.

Information Necessary to Register Copyright in Thailand

For the process of recordation of copyright in Thailand, submission of the following information to the authority is mandatory:

• A brief description of the type and content copyright work.
• Title of copyright work.
• Name, address, and nationality of the applicant.
• Name, address, nationality, and date of birth of the author.
• Information about the acquisition of copyright work, if applicable, as well as the country where the copyrighted work was created.
• Date of the work’s creation and date of the work’s publication in case of published works.
• Information about recordation and registrations of the work in foreign countries.
• Permission to publish the copyright.

You can submit the first ten pages and the last ten pages of the program or source code when applying for copyright for software (or the entire program as wished).

Rights Conferred by Copyright in Thailand

Copyright grants its creator a variety of exclusive rights to manage the utilization of his or her work. We can tell which of these rights are exclusive of others by:

• Reproduce a work in copies (e.g. printing of a book, reproduction of a movie on a DVD, etc.);
• Distribute copies of a work to the public;
• Rent copies of a work;
• Translate or adapt works without authorization;
• Hold (a) public performance(s) and communicate a work to the public.

In Thailand, copies and reproductions of works with copyright protection that are not for commercial gain are typically not violations in regard to the law. Additionally, moral rights are provided by copyright, safeguarding the author’s honor and reputation.

Advantages of Recorded Copyright in Thailand

Whether or not the copyright has been recorded, the rights granted to the owner are the same. Recordation, however, provides a tactical advantage and holds strong grounds to prove ownership or even the invention or publication date (information that is useful in cases of claims of concurrent independent creation). The recording of copyright also makes it simpler to pursue monetary and legal sanctions against an infringer in order to enforce rights.

The holder of a recorded copyright is exempt from providing evidence in opposition to that right. The violator must demonstrate that it has a superior claim or that the copyright holder is not the rightful owner of the copyright in question. In other words, the burden of proof rests with the person with the allegations to violate the laws.

Length of Protection for Copyright in Thailand

Irrespective of the status of the publication of the work, as well as whether the copyright owner is an individual or a legal company, will determine what rights and protections it should get.

Unpublished works owned by specific individuals are protected by copyright for as long as they are alive and for 50 years after their passing. When numerous authors share ownership of a piece of writing, copyright protection is for the lifetime of the last surviving joint author and for 50 years after that.

For 50 years following the date of the work’s initial publication, published works that belong to certain individuals are protected by copyright. Unpublished works owned by legal entities are protected by copyright for 50 years following the date of creation.

A legal entity’s published works are protected by copyright for 50 years after the date of their initial publication. The copyright protection of applied arts is an exception to the 50-year protection rule generally. For 25 years following the date of creation or publication, whichever comes first, applied arts receive copyright protection.

Assigning or Licensing Copyright in Thailand

Owners of copyrights may license or assign their works in addition to using them directly for commerce.

Assignments are long-term changes in ownership and are distinct from copyright licensing. Treating a copyright transfer transaction as a sale and purchase agreement is in the best interest of both parties. The parties’ discussions and wording of the assignment agreement should get serious consideration. Assignments must be registered with the DIP in order for them to be recognized in Thailand.

The licensor (the owner of the copyright) may provide authorization to a licensee (the recipient of the rights) to use, reproduce, or otherwise commercialize the copyrighted material on a temporary basis.

The licensing of copyrights can occasionally be more challenging than the simple assignment or transfer of copyright. You can take copyright licensing arrangements leases; whereby, the property on lease is the intellectual property of the creative work, and the rights to use it are similar to those of other leased properties. The exclusivity of the license, the length of the license, and the uses of the intellectual property put on the lease must have their mentions in a copyright licensing agreement as well as licensing agreements in general.

Exclusive or non-exclusive licensing arrangements are also possible. Exclusive license agreements forbid the licensor from granting the same rights to other parties for the life of the agreement and grant the licensee exclusive rights, whether for scope, context, area, market, or time. The phrase “single distributor” or “exclusive distributor” is common in marketing luxury items in Thailand’s marketplaces. In contrast to exclusive licenses, non-exclusive licensing allow the licensor to simultaneously give rights to multiple licensees in the same location or at the same time, some of whom may overlap. Although recording copyright licenses at the DIP is not mandatory in Thailand, it is generally a good business practice, especially when a local licensee holds the authorization.

Help That You Need for Copyright Registration in Thailand!

By now, it must be clear to you that the issuance of copyright in Thailand is strictly according to the local laws. Additionally, you must be able to understand the inherent challenges in the process. Let us point out those to you:

1. The Department of Intellectual Property of Thailand amends the IP laws randomly. Therefore, it can be pretty difficult for you to track the updates.
2. You may not have detailed information about the procedure of a Copyright Application and may accidentally land in front of an irrelevant authority.
3. Only an experienced Intellectual Property Law practitioner can help you all across the various stages of the application. But finding a reliable and trustworthy one can be a challenging task!
4. Even if your Mark is eligible for a Copyright, the mode you present it matters a lot to the authority. You may not be able to proceed in the format that is deemed essential by the authorities. This will lead to a series of re-applications.
5. If you are a foreigner, you need notarization and translation of all the relevant documents. Only a Certified Notarial Attorney has the authority to do so.

However, if you have reached this part of the article, we have a solution for you that can bust all of these challenges. Contact Us!

Being a premium law and accounting firm in Thailand, we have 1000+ local and international clients who got benefitted from our elegant services. For your Copyright in Thailand, we can help you with the following aspects:

1. Start with a Free consultation
2. Complete the entire documentation for you
3. Make your application fool-proof to avoid any or all types of rejections
4. Guide you to the right authority to submit your application
5. Documentation and legal support as long as you don’t receive your Copyright Certificate in Thailand

Isn’t this enough to protect your intellectual property, to develop which you have invested that much time and effort? Feel free to consult us by sharing your requirements at officer@konradlegal.com.

Can a Foreigner Start Business in Thailand without a Thai Partner?

The Thai Civil and Commercial Code treats Thai and Foreign Shareholders equally when it comes to starting a business in Thailand. Due to this, foreigners are free to start their own businesses in Thailand without a Thai partner. Foreign Business Act B.E. 2542 (1999) (FBA) imposes some limitations on the types of business activities that foreign nationals may conduct in Thailand. Moreover, List 3 of FBA prohibits a majority of service activities for foreigners to start a business for. On the other hand, the Board of Investment permits up to 100% foreign ownership in businesses that engage in commercial endeavors that are crucial to Thailand’s development.

Restriction under the Foreign Business Act

List 1 of the FBA prohibits certain business activities, while Lists 2 and 3 restrict them to foreign-owned businesses. The foreign company must obtain a Foreign Business License before engaging in any of the List 2 or 3 business activities. Foreigners are increasingly choosing to form joint ventures with local partners due to the prevalent challenges and costs of obtaining a foreign business license.

Foreign Business License (FBL)

The foreign company must be able to prove that it will bring expertise and teach local staff new skills. This is one of the most important factors to apply for and obtaining an FBL. The procedure, which involves numerous questions from the authorities, lasts for about six months. A discretionary decision precedes approval.

Set up a Joint Venture

A company where foreign shareholders hold 50% or more of the share capital is a foreign company under the FBA. Therefore, a company can be a Thai company and is exempt from the FBA’s restrictions. It is possible only if Thai shareholders own 50% or more of the company’s shares. Note that, ownership of the capital is a major parameter to decide whether a company is foreign. Furthermore, control of the business is never the deciding factor for the same.

100% Foreign Ownership by the BOI Promotion

The Board of Investment of Thailand (BOI) promotes a variety of commercial activities that are crucial for the development of Thailand. This includes factories, electronics, pharmaceuticals, regional financial centers, and more recently, digital. The full list of activities eligible for a BOI promotion can be found here. One of the advantages of the BOI promotion is foreign ownership. Additionally, it grants tax regulations for hiring foreign workers with special skills and tax exemptions. It typically takes 3 to 6 months to apply for a BOI promotion.

The majority of business activities are restricted under the FBA. Therefore, the foreign investor should always confirm their eligibility for a BOI before proceeding. The business activity may not be sufficiently innovative and hence, cannot qualify under the BOI. In this case, a foreign business license is an alternative. Nevertheless, a company with a local partner continues to be the most popular investment vehicle for foreigners.

Who are Foreign Shareholders in Thailand?

Section 4 of the FBA defines a foreigner:

1. A natural person who is not of Thai nationality;

2. A juristic person not registered in Thailand;

3. A juristic person registered in Thailand, being of the following descriptions:

1.  Being a juristic person at least one-half of capital shares which are held by persons under (1) and (2) or a juristic person in which investment has been placed by the persons under (1) or (2) in the amount at least equivalent to one half of the total capital thereof; and
2.  Being a limited partnership or a registered ordinary partnership, the managing partner or the manager, of which is the person under (1).
3.  A juristic person in Thailand with at least one-half of the capital shares of which are held by persons under (1), (2), or (3) or a juristic person in which investment has been placed by the persons under (1), (2) or (3) in the amount at least equivalent to one half of the total capital thereof.

Control of the Company in Partnership with a Thai

Sections 36 and 37 of the FBA state that it is against the law to use Thai nominee shareholders. Due to the non-application of this law, there is no precise definition of what a nominee is. In reality, however, a nominee is a natural person or legal entity that holds stock in a company. The company can be partially owned by a foreign nation but does not make any direct investments in it. A Nominee cannot have the financial resources to do so nor can have a beneficial ownership interest in it. Furthermore, the nominee cannot exercise any form of control over it.

The Bottomline

However, there are other methods like setting up a Branch Office or Representative Office in Thailand. A foreigner can set up these types of organizations to represent their existing businesses in any part of the world.

But to accomplish the feat, you will need a reliable Thai law firm for your guidance and assistance. Therefore, to start your business in Thailand, contact us by emailing your requirement in detail to officer@konradlegal.com.