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Browse our 2 legal questions about Investment in Thailand and the lawyer answers, or ask your own questions for free.
As the gateway to the northeastern region of Thailand (Isaan), Nakhon Ratchasima, also known as Korat, has substantial potential for both local and foreign investors. It has a strategic location, excellent infrastructure, and numerous economic zones making it an attractive destination for different types of investments including real estate, agricultural ventures, and retail businesses. The Thai government encourages foreign investment and offers various incentives and aid to those looking to invest in regions like Nakhon Ratchasima.
Hiring a lawyer is often essential when investing in a foreign country. Legal professionals can ensure your ventures align with the local law, protect your rights if disputes arise, and help you understand the potential risks and benefits of your investment. From reviewing and drafting contracts to regulatory compliance, a lawyer can provide necessary guidance to prevent legal issues in the future.
Investment laws in Thailand have been designed to promote foreign investment. However, certain restrictions apply to foreign ownership of land, and only Thai nationals can own land. Foreign companies, however, can lease land for up to 30 years, and some types of companies can obtain land for business purposes. There are also specific laws and regulations for different sectors of businesses. Thailand's foreign business law restricts foreign investment in certain business categories without obtaining a Foreign Business License. The Board of Investment of Thailand (BOI) offers promotional incentives for certain types of businesses that can include tax incentives, import duty reductions and land ownership rights.
Under Thai law, foreigners generally cannot own land in Thailand. However, they can own buildings or structures erected on the land. Some foreigners choose to set up businesses or invest through lease agreements.
A Foreign Business License is a permit granted to foreign companies, allowing them to operate certain types of businesses in Thailand that are generally prohibited to foreigners.
The BOI provides various incentives to promote investment in Thailand, including tax incentives, import duty reductions and certain ownership rights for promoted businesses.
Yes, under the Foreign Business Act, certain business sectors are protected and foreign investment in these areas is restricted unless permission or a license is granted.
A lawyer can assist you to understand local laws and regulations, help with contract negotiations and ensure you comply with all relevant legislation.
For those seeking further information, you might find The Board of Investment (BOI) of Thailand, Department of Business Development and Office of the Registrar, Land Department of Thailand useful. These bodies provide relevant information regarding investing and doing business in Thailand including Nakhon Ratchasima.
If you need legal assistance with your investment in Nakhon Ratchasima, your first step should be to consult with a local lawyer. They will provide you with information tailored to your situation and help guide you through the investment process. You should also familiarize yourself with the local culture and customs to avoid any unintentional misconduct.
