Best Business Lawyers in Phuket
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List of the best lawyers in Phuket, Thailand
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Phuket, Thailand Attorneys in related practice areas.
Thailand Business Legal Questions answered by Lawyers
Browse our 14 legal questions about Business in Thailand and the lawyer answers, or ask your own questions for free.
- Company transfer and name change
- Yes, transferring an existing Thai company to another person and changing ownership is possible. This is done through a share transfer process, where the current shareholder(s) legally transfer their shares to the new owner. Once the transfer is completed, you can change the company director and update the company records with the Department of Business Development (DBD).Procedure Overview – Company Transfer & Name Change:Share Transfer Agreement – The outgoing shareholder signs a document to transfer their shares to the new owner.Update Shareholder List – The company updates its shareholder register and issues new share certificates.Director Change (if needed) – If the new owner also becomes the director, a board resolution and form for DBD filing must be prepared.Update Company Name (optional) – If you want to change the company’s name, this is a separate process requiring shareholder approval and DBD filing.Submit to DBD – All updated documents are filed with the DBD to finalize the change.Estimated Costs:Share Transfer & DBD Filing: THB 6,000 – 12,000 (depending on the complexity and whether legal assistance is used)Name Change Filing: ~THB 3,000Legal Service (if needed): THB 10,000 – 25,000 (approx.)
- Inquiry Regarding Licensing Requirements for Cryptocurrency ATMs in Thailand
- Dear prospective client,Thank you for reaching out with your inquiry regarding the licensing requirements for operating cryptocurrency ATMs in Thailand.In order to operate cryptocurrency ATMs in Thailand, operators are required to comply with specific regulations issued by the Securities and Exchange Commission (SEC) of Thailand. The primary license that cryptocurrency ATM operators need to apply for is a Digital Asset Business License. This license allows businesses to operate as cryptocurrency exchanges, brokers, or dealers, all of which may be relevant depending on the services offered by the ATM.Additionally, there are stringent compliance measures relating to Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements that need to be adhered to in line with Thai law.For a comprehensive overview of the regulations surrounding digital assets in Thailand, including cryptocurrency ATMs, I invite you to visit our website for detailed insights:Digital Asset Regulations in Thailand: A Comprehensive Overview https://mahanakornpartners.com/digital-asset-regulations-in-thailand-a-comprehensive-overview/Should you have any further questions or need more personalized assistance, feel free to reach out.Best regards,Mahanakorn Partners Group (MPG)
- Airbnb in Thailand
- Short answers for your questions 1) In Thailand, you can do business by individual or setting up a company. However, if owner is foreigner, may cannot do most business unless get approved by governor officer or some section form Thai regulations. Presently, LLC need 3 persons for set-up.2) Yes, in Thailand has specific regulation for foreigner who want to do business in Thailand.For more details please contact us directly at Sorasak Law Firm.
About Business Law in Phuket, Thailand
Phuket, a renowned tourist destination, also offers a vibrant business environment. It serves as a hub for entrepreneurs and investors looking to take advantage of its growing economy. Business law in Phuket is governed by Thai law, with specific regulations catering to various sectors including tourism, real estate, and hospitality. Understanding the local law is crucial for operating successfully in this dynamic market.
Why You May Need a Lawyer
There are several situations in which you may require legal assistance when conducting business in Phuket. These include navigating the complexities of business registration, drafting and reviewing contracts, understanding local taxation, resolving disputes, and ensuring compliance with local regulations. A lawyer can provide valuable guidance to help you mitigate risks and avoid potential legal pitfalls.
Local Laws Overview
Phuket's legal framework for businesses is influenced by national laws as well as local regulations. Key aspects include the Foreign Business Act, which regulates the types of businesses foreigners can engage in, and labor laws that set standards for employment practices. Additionally, understanding property laws is crucial for businesses in the tourism and real estate sectors. Ensuring compliance with licensing requirements and environmental regulations is also critical.
Frequently Asked Questions
What is the process for registering a business in Phuket?
Registering a business in Phuket involves choosing a business type, reserving a company name, preparing necessary documents, and submitting them to the Department of Business Development.
Can foreigners own a business in Phuket?
Foreigners can own businesses in Phuket, but ownership is subject to restrictions under the Foreign Business Act. Certain business activities may require a Thai partner.
What taxes should I be aware of when doing business in Phuket?
Key taxes include corporate income tax, value-added tax (VAT), and specific business taxes. It's important to consult a tax advisor to understand your obligations.
Are there specific licenses needed to operate a hospitality business?
Yes, hospitality businesses often require hotel licenses, food and beverage licenses, and alcohol licenses, among others, depending on the services offered.
How does labor law affect businesses in Phuket?
Labor laws in Thailand regulate employment contracts, working hours, minimum wage, and employee benefits. Compliance is crucial to avoid legal issues.
What is essential in a business contract in Phuket?
A business contract should clearly outline the obligations of each party, payment terms, dispute resolution mechanisms, and be compliant with Thai laws.
What should I know about intellectual property protection?
Intellectual property rights are protected by Thai law, including trademarks, patents, and copyrights. Registering IP rights is crucial to safeguard your business.
How can I resolve a business dispute?
Business disputes can be resolved through negotiation, mediation, arbitration, or litigation. Seeking legal counsel is advisable to determine the best approach.
Is it necessary to hire a local lawyer?
While not mandatory, hiring a local lawyer is beneficial to navigate the nuances of Thai law and the business environment effectively.
What happens if I don't comply with local regulations?
Non-compliance can result in penalties, fines, or legal action. Therefore, understanding and adhering to local regulations is crucial for operating legally.
Additional Resources
Consider reaching out to the following resources for further assistance: the Thailand Board of Investment (BOI), the Department of Business Development, local chambers of commerce, and the Phuket Provincial Hall. These organizations can provide guidance and support for businesses.
Next Steps
If you need legal assistance in business, start by consulting with a qualified lawyer familiar with Thai business law. Gather all necessary documents related to your business activities and clearly outline your needs and concerns. Ensure that you communicate any language preferences or barriers you might have, and consider using a translator if necessary. Taking these steps can help ensure that you receive the most relevant and effective legal advice for your business in Phuket.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.