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Thailand’s EEC: a global gateway to Asia services

The Thai government in conjunction with the Board of Investment recently announced the new Thailand 4.0 economic model, known as the Eastern Economic Corridor (EEC), which is the enhancement programme for three provinces on Thailand’s eastern seaboard. Manufacturing development in the past 30 years within these three provinces of Chachoengsao, Chonburi and Rayong has served as a pilot for an economic gateway to Asia. Under the EEC, these provinces will be developed to support 10 industries promoted by Thailand’s Board [...]

SEC Introduces KYC Sandbox

On May 23, 2017, the Securities and Exchange Commission (“SEC”) of Thailand has opened a new regulatory sandbox specifically for businesses who wish to test “Know Your Client” technology. The KYC Regulatory Sandbox (the “Sandbox”) will allow interested applicants to test their KYC technology for a period of no longer than 1 year on limited group of clients under the supervision of the SEC. The SEC published a news update on their website on June 7, 2017 that stated [...]

Thailand Parliament Makes Business More Friendly

Thailand has recently undertaken a series of Orders by Parliaments that is designed at improving the ease of doing business in the Kingdom of Thailand.  They were published in the Royal Gazette on 4th April 2017 and was in effect that day. Changes are as follows: The Civil and Commercial Code amended to facilitate promoters to register company at any district nationwide instead of registering at the location where a company has been established. Also, the requirement that every certificate of shares [...]

A Guide for Buyers: Property Public Auction in Thailand

The Legal Execution Department is responsible for holding Public Auctions that are listed in its Public Auction Announcements. The sale of properties can range from condos, empty land, factories and commercial buildings.  The properties sold at auction are usually derived from bankruptcy, defaulted mortgages and seized property by the anti-money laundering office. The following outlines the procedures and requirements to purchase a property at auction. Secure bid with the Public Auction Announcement See what’s listed. Buyers are responsible to inspect the property [...]

Thailand: The World’s New Medical Destination, for Services and Investment

The economy of Thailand boasts a thriving, robust medical industry that both leads Southeast Asia and is renowned across the world.  From the world’s leading medical tourism sector to growing sectors in pharmaceuticals, medical devices and implants, and academic research, the Thai medical sector presents a wealth of opportunities, for Thai and foreign patients, as well as entrepreneurs and investors looking for global growth opportunities in the medical field. Relative to its Asian neighbours and compared to global leaders, Thailand [...]

On 2017 and 2018 Public Tenders of Transmission Lines in South of Thailand

On May 2015, The National Energy Policy Committee approved the Power Development Plan for 2015 to 2036 introducing significant changes in different aspects such as on national economy with a less impact on people cost of living, energy security with less dependent on natural gas, environment releasing 37% less carbon monoxide (low carbon society in 2050) and on regional integration with more solid commitment with Asean region. The energy consumption is increasing fast in the South of Thailand but the [...]

Electronics and Electrical Appliances:  The State of Thai Industry

Thailand has long been accelerating into the pack of world leaders in high-technology industries.  Although world leaders like Japan and South Korea currently enjoy advantages in the tech sector, their growth has created space for other countries to move ahead, and Thailand has been pivoting to take advantage of this opportunity.  Being able to provide a highly skilled workforce at a competitive price level, and further occupying a strategic location for global imports and exports, Thailand enjoys several fundamental [...]

VC and Thai Corporations: Navigating Local Law

As the venture capital (VC) market continues to grow, Thai start-ups are a natural focus for VC firms interested in Southeast Asian investment. Start-ups making use of new technology have a need for initial capital, are interested in disrupting existing markets, and offer potentially large equity returns on investment – a perfect asset for the investment portfolio of many VCs, which have the available capital to seed new ventures and bet on the next new thing, rather than financing [...]

Check Legal Issues First for Thai Cash Pooling Option

Since the global economic downturn, cash pooling has become an increasingly relevant option for multinational corporations (MNCs) as a cash management technique. In general, cash pooling is used when MNCs wish to reduce their external financing needs and allow one company, a “corporate treasury centre”, to manage inter-group financing. As each group company normally has its own accounts, these separate accounts are “pooled” together and managed as one net account, allowing group companies to operate under a single financial policy. [...]

Jose Herrera Joins Silk Legal

Silk Legal is pleased to announce that Jose Herrera has joined the firm as a partner. Jose brings with him a wealth of international legal experience from practice in Thailand, South East Asia, East Europe and Spain. His practice concentrates on Foreign Direct Investment in the automotive, infrastructures and energy sectors.