market entry guide thailand

8/12/2019 Market Entry Guide Thailand

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MARKET ENTRY GUIDETHAILAND


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1 Introduction 3

2 Modes of Setting up a Business in Thailand 6

2.1 Private Limited Company 62.2 Public Limited Company 8

2.3 Branch Office 10

2.4 Representative Office 10

2.5 Regional Operating Headquarters (ROH) 11

2.6 Average Time (in Days) Required for Setting up a Business 13

3 Procedures for Immigration 153.1 General Information 15

3.2 Visa Requirements 16

3.3 Procedures for Work Permits 18

3.4 Average Rent for Office Space in Thailand 19

3.5 Average Living Costs for Expatriates 19

4 Social Security System in Thailand 214.1 Social Security 21

5 Special Economic Zones in Thailand 26

5.1 Introduction 26

5.2 Export Processing Zone 26

5.3 Free Zone 27

6 Opening a Bank Account in Thailand 306.1 Overview of Retail Banking 30

6.2 Procedures for Foreigners to Open Bank Accounts

in Thailand 31

7 Recruitment of Local Staff 33

7.1 Brief Overview of Labour Laws 33

7.2 Major Recruitment Agencies and Websites 34

7.3 Average Salary Range 34

8 Taxation 39

8.1 Taxation in Thailand 39

8.2 Tax Rates 39

8.3 Tax Incentives 42

8.4 Double-Tax Treaty 45

8.5 Repatriation of Profits 46

9 Appendix 47

Appendix I: Useful Links and Addresses 47

10 Disclaimer 51


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1 Introduction

Thailand is one of the largest economies in Southeast Asia with a

total population of approximately 66 million.1The country is con-

sidered an emerging economy and a newly industrialised coun-

try. After the Asian financial crisis in 1997-98, Thailands economy

started to recover in 1999 with a GDP growth of 42 percent. To en-

courage the recovery, the Thai government approached an open-

market policy by inviting foreign investment and pursuing stronggrowth in exports. During the last five years (2007-2011), the av-

erage real growth rate of the countrys GDP was 2,62 percent.2

The majority of Thailands labour force is employed in services (46,1

percent). However, the contribution of agriculture to the countrys

GDP has declined recently. In 2011, agriculture contributed 13,3 per-

cent of the countrys GDP, while industry accounted for 34 percent.

However, employment in the industry sector was estimated to be

less than 15 percent of the total labour force. Tourism accounts for

approximately 6-7 percent of Thailands GDP.3The figure is typically

higher than those of other Asian countries.

Exports of products and services play a major role in Thailandseconomy. Thailand is the worlds largest exporter of rice and a ma-

jor exporter of shrimp. Other major agricultural exports include

coconuts, sugarcane, soybeans, corn and rubber. For the industry and

manufacturing sectors, Thailand has become the worlds leading

manufacturer and exporter of automobiles and automotive parts,

and electrical appliances and components. Thailands major export

partners include the US, Japan, mainland China, Singapore, Hong

Kong and Malaysia. Thailands major import partners include the

Japan, China, the UAE, the US, Malaysia, South Korea.

1Source: Board of Investment, Thailand2Source: Global Finance3Source: CIA - The World FactbookConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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Thailand is a member of the World Trade Organization (WTO),

the Cairns Group of agricultural exporters and the Association

of Southeast Asian Nations (ASEAN). Thailand has participatedin a number of free trade agreements (FTAs) with trade partners

around the globe, including ASEAN, China, Australia, New Zea-

land and Japan. In addition, FTA negotiations are currently being

undertaken with the US, the European Union (EU), India and Peru.

Thailand has been among the most successful countries in Asiafor attracting Foreign Direct Investment (FDI). Thailand consist-

ently ranks among the most attractive investment locations in

international surveys, and the World Banks 2012 Ease of Doing

Business report places Thailand as the 17th easiest country in

the world and 2nd country in Southeast Asia) in which to do

business. The countrys strong export performance has been en-hanced by foreign investment that has witnessed major mul-

tinational companies establishing manufacturing operations

for both local and international markets. To stimulate foreign

investment, the Thai government offers various tax and non-tax

benefits for investors through the Investment Promotion Act. In

2010, the inflow of foreign direct investment (FDI) amounted to

EUR 6,9billion (USD 9,67 billion).4Japan was the largest direct

investor, accounting for approximately 34 percent of the total FDI

inflow. Other large investors include Singapore, Taiwan, Malaysia,

the Netherlands, Germany and the US.

Through commercial and export success, Thailand has evolvedinto a regional hub for various industries: automobile, electric

and electronic products, medical services, gems and jewellery,

food and agricultural products, and tourism.

4Source: Trading EconomicsConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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The following report aims to elaborate on the most important

issues pertaining to the administrative, legal and financial as-

pects of setting up businesses and hiring personnel, as well asthe living conditions in Thailand.

Conversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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2 Modes of Setting up a Business in Thailand

This section explains the common investment vehicles avail-

able to foreign investors, the procedures to be followed in order

to establish them and related regulations for each investment

mode.

Table 1 lists the most common modes of setting up businesses

by foreign investors and their governing laws. In addition to

the various modes of businesses listed in the table, a partner-ship is another common mode. However, due to the ownership

restrictions, foreigners are generally not able to operate their

businesses as partnerships in Thailand.

Table 1: Different Modes of Setting up a Business

in Thailand

MODE OF SETTING UPA BUSINESSES

APPLIED LAW

Private limited company The Civil and Commercial Code

Public limited company The Public Limited Company Act

Branch office of a foreigncompany

The Foreign Business Act

Representative office of aforeign company

The Foreign Business Act

Regional operating

headquarters (ROH)

The Civil and Commercial Code

Source: Board of Investment, Thailand

2.1. Private Limited Company5

A private limited company is a company with the following

requirements:

| A minimum of three shareholders are required;5Source: Department of Business Development, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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| The capital is divided into shares with equal par value;

| The par value of each share is not less than EUR 0,10 (THB 5);

| Each shareholder has limited liability (i.e. the unpaid amount

of the shares respectively held by them);

| The company must be registered according to the Civil and

Commercial Code.

A private company may be wholly-owned by foreigners. However,

for the business activities reserved for Thai nationals, foreigner

participation is generally allowed up to a maximum of 49 percent

of the companys shares.

2.1.1 Establishment of a Private Limited Company

The following process is required for setting up a private limited

company in Thailand:

| A minimum of three ordinary persons (called promoters) sign

together to prepare a Memorandum of Association, and submit

it for registration (registration of the Memorandum).

| Once the Memorandum has been registered, the following

activities shall be performed:

Every promoter manages to get all of the companys shares to

be reserved and bought.

Once all shares are reserved, the promoters must, without any

delay, hold a general meeting of subscribers which shall be

called the statutory meeting.

| The meeting agenda shall include the following:

The adoption of the companys regulations, if any.

The ratification of any contracts entered into and any expenses

incurred by the promoters in promoting the company.

The fixing of the amount, if any, to be paid to the promoters.



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The fixing of the number of preference shares, if any, to be

issued, and the nature and extent of the preferential rights

accruing to them.

The appointment of the first directors and auditors and the

fixing of their respective responsibilities.

| The directors shall ask the promoters and subscribers to pay

the payable amount of the companys shares (at least 25 per-

cent of the shares value).

| Upon receiving the amount of shares, the director must reg-

ister the company within three months from the date of the

meeting to establish the company (registration of the com-

panys establishment).

2.2 Public Limited Company6

A public limited company is a company established for the pur-

pose of offering shares for sale to the public and the shareholders

have the liability limited to the amount paid for their respec-

tive shares. The above purpose must be stated in the companys

Memorandum of Association.According to the Public Limited Company Act, a public limited

company has the following requirements:

| A minimum of 15 shareholders are required;

| Each share has equal value and the payment of the shares

value must be done one time only;| A minimum of five directors are required, with at least half

having their registered address in Thailand.

Subject to compliance with the prospectus, approval and other

requirements, public limited companies registered in Thailand

may offer shares, debentures and warrants to the public andmay apply to have their securities listed on the Stock Exchange

of Thailand (SET).

6Source: Department of Business Development, Thailand


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There is no restriction on transfer of shares for public limited

companies (except to satisfy statutory or policy ceilings on for-

eign ownership).

2.2.1 Establishment of a Public Limited Company

A public limited company can be established through one of the

following methods:

| Registration of the companys establishment

| Transformation of a private limited company into a public lim-

ited company

2.2.1.1 Registration of the Companys Establishment

At least 15 ordinary persons (called promoters) together prepare

and register the Memorandum of Association. Once the registra-

tion is done, the promoters either prepare the prospectus to the

public for buying the companys shares, or once the promoters

reserve to buy the shares as specified in the Memorandum of

Association, they call a meeting for the companys establish-

ment. Afterwards, the promoters must hand over all the affairs

and documents to the elected directors for the registration ofthe companys establishment, which shall be done within three

months from the date of the meeting.

2.2.1.2 Transformation of a Private Limited Company into aPublic Limited Company

A private limited company can be transformed into a publiclimited company once the companys shareholders call for a

meeting for extraordinary resolution according to the Civil and

Commercial Code.

2.3 Branch Office7

A branch office is the same legal entity as its foreign parentcompany. The parent company maintains legal liability for con-

tracts and for tortious acts done. Operations of branch offices

7Source: Board of Investment, Thailand


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are restricted under the provisions of the Foreign Business Act.

2.3.1 Establishment of a Branch Office

To set up a branch office in Thailand, the foreign parent companymust make a special application to the Ministry of Commerce for

a Foreign Business Licence. Such applications must be approved by

the Director-General of the Department of Business Development.

A condition for the approval is that a minimum capital of EUR

100.000 (THB 5 million)8shall be brought into Thailand within four

years from the start-up date of the branch office. The operation

of the branch may be allowed for a period of five years, unless a

shorter period is applied for. If the working capital requirement

is met, an extension of the original duration of the licence may

be granted.

2.4 Representative Office9

In terms of its legal structure, ownership and minimum capital

requirement, a representative office is basically the same as a

branch office. However, a representative office is not permitted

to earn any income. The scope of the activities of a representative

office is limited to the following approved activities:

| Identifying sources of purchase of goods or services in Thailand

for the parent company

| Verifying and controlling the quality and quantity of goods pur-

chased by the parent company for manufacturing in Thailand

| Providing advices concerning goods of the parent company

sold to distributors or consumers in Thailand

8Source: Thailand Law9Source: Board of Investment, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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| Distributing information concerning new goods or services of

the parent company

| Reporting movements of business in Thailand to the parent

company

Similar to branch offices, a special application for a Foreign Busi-

ness Licence must be made by the parent company in order to

operate a representative office in Thailand. There are three types

of licensing for representative offices:

| Finance, security and credit financier offices

| Foreign bank offices

| International business offices

2.5 Regional Operating Headquarters (ROH)10

A regional operating headquarters (ROH) is considered as thesame legal structure as a private limited company. However, it is

qualified for specific tax benefits. An ROH provides managerial,

administrative and technical services as well as other supporting

services to its associated companies or its branches. Supporting

services include the following:

| General administration, business planning and coordination

| Procurement of raw materials and components

| Marketing and sales promotion planning

| Research and development (R&D)

| Technical support

| Training and personnel management

| Corporate financial advisory services

| Economic or investment research and analysis

| Credit control and administration

| Any other services designated by the Director-General of theRevenue Department

10Source: Revenue Department, Thailand


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2.5.1 Requirements of Regional Operating Headquarters

for Tax Privileges

To be eligible for tax privileges, an ROH must meet the following

requirements:

| It has at least EUR 236.000 (THB 10 million) of paid-up capital

on the closing date of any accounting period

| It provides services to its associated companies or branches in

at least three other countries (excluding Thailand)

| At least 50 percent of its income must be earned from per-

mitted services provided to its overseas associated companies

or branches. The requirement is reduced to one-third of the

income for the first three years

2.5.2 Tax Privileges for Regional Operating Headquarters

A qualified ROH is eligible for the following tax privileges:

| Corporate income tax at the rate of 10 percent of net profit

for income generated from services provided to its branches

or associated companies

| Corporate income tax at the rate of 10 percent of net profit for

royalties received from its branches or associated companies

for R&D done in Thailand

| Corporate income tax at the rate of 10 percent of net profit and

interest derived from its branches or associated companies

for loans made by the ROH and extended to its branches orassociated companies

| Tax exemption for dividends received from its associated

companies

| Tax exemption for dividends paid to its shareholders not car-

rying on business in Thailand



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2.6 Average Time (in Days) Required

for Setting up a Business

In order to start a business, a certain number of legal and bureau-

cratic hurdles have to be overcome by companies/entrepreneurs.

Registration is typically critical for accessing a range of market

infrastructure including finance, physical infrastructure (electric-

ity and water) and contract enforcement.

Table 2 lists data released by the World Bank related to startinga business in Thailand.

Table 2: Starting a Business in Thailand

DATA RELATED TO STARTING A BUSINESS YEAR 2011

Rank 97th (in the world)

Procedures (number) 5

Duration 29 days

Cost (GNI per capita) 6.2%

Paid in Minimum Capital (GNI per capita) 0.0%

Source: Doing Business

According to a World Bank report, the average time taken to start

a business in Thailand is high in comparison to OECD nations,

Mexico and Korea. Figure 1 illustrates the obstacles inherent in

starting business ventures in various countries.



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Figure 1: Obstacles to Starting Businesses in VariousCountries (JUNE 2011)

Source: Doing Business

Note: OECD = Organisation for Economic Co-operation and Development


Time Required for Starting a Business

Time (days)

OECD

Mexico

Korea

China

Thailand

India

Russian Fed

0 10 20 30 40

procedures Essential for Starting a Business

Number of Procedures

OECD

Mexico

Korea

China

Thailand

India

Russian Fed

0 5 10 15


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3 Procedures for Immigration

3.1 General Information11

Unless otherwise exempted, a foreigner wishing to enter Thai-

land must obtain a proper visa from either a Royal Thai Embassy

or a Royal Thai Consulate-General prior to arrival in Thailand.

However, there are certain exemptions if a person meets one of

the requirements below:

| Nationals of countries which are exempted from visa require-

ments when entering Thailand for tourism purposes:

Such nationals holding legitimate passports are permitted to

reside in Thailand for a period not exceeding 30 days on each

visit. Luxembourg is one of the countries in this category.

| Nationals of countries which hold bilateral agreements with

Thailand on the exemption of visa requirements:

Luxembourg is listed as a country which has an agreement on

the exemption of visa requirements for holders of diplomatic

or official or service/special passports with Thailand. Nationals

of Luxembourg with relevant passports are permitted to stayin Thailand for a period not exceeding 90 days on each visit.

11 Source: Ministry of Foreign Affairs, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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3.2 Visa Requirements

Table 3 lists the various types of visas issued by the Thai

government.

Table 3:Visas Issued by the Thai Government

TYPE OF VISA VALIDITY OF VISA

Transit visa 3 months

Tourist visa 3 months or 6 months

Non-Immigrant visa 3 months (single entry) or 1 year

(multiple entry)

Diplomatic visa / Official visa During mission

Courtesy visa During mission



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Sources: Ministry of Foreign Affairs, Thailand

PURPOSE OF VISIT

Travelling through Thailand to proceed to a third country

(category TS)Participating in sports events for a duration of no more than one

month (category S)Crew of conveyance entering a port or area in Thailand (category C)

Visiting Thailand for tourism purposes (category TR)

Official duties (Category F)

Work or doing business (Category B)Investment with the consent from the concerning Thai ministriesand government agencies (Category IM)Investment or related activities subject to the provision of the

laws on investment promotion (Category IB)Studying; attending a study trip, seminar, conference or training

course; or studying as a foreign Buddhist monk (Category ED)Work as a film producer, journalist or reporter (Category M)Missionary work or other religious activities with consent from

the Department of Religious Affairs, Ministry of Education(Category R)Conducting scientific research, training or teaching in a research

institute (Category RS)Work as an expert or specialist (Category EX)Other purposes as follows (Category O): staying with family;

performing duties for the state enterprise or social welfareorganisation; staying after retirement for the elderly; receiving

medical treatment, undertaking sports coach duties as requiredby the Thai Government; and being a contestant or a witness in a

judicial process.

For holders (and family members) of diplomatic or officialpassports who perform duties at the diplomatic mission,consulate or international organisation in Thailand

For holders of diplomatic, official or ordinary passports who enterThailand on official duty or other purposes


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3.2.1 Documents Required for Visa Applications

The requirements of documents to be provided by foreign citizens

at the time of visa application vary depending on the types of

visa. The following documents are required for all types of visa:

| Passport or travel document valid for not less than six months

| A completed visa application form

| Two recent photographs of size 4cm x 6cm

| Visa application fee

| Other supporting documents as required for the purpose of

visiting Thailand

3.3 Procedures for Work Permits

According to the Alien Working Act B.E. 2551 (2008), foreigners ofthe following three categories are qualified to apply for a work

permit to work in Thailand:12

| Foreigners who reside in Thailand or are allowed to stay tem-

porarily in Thailand, but are not tourists or transit travellers;

| Foreigners who are allowed to work in Thailand according to

the investment promotion laws or other laws;

| Foreigners who have been deported but are allowed to work

in certain locations in replacement of deportation or while

awaiting deportation; foreigners who have illegally entered

Thailand or are awaiting forced transfers out of Thailand; and

foreigners who were born in Thailand but are not granted Thainationality or were denaturalised.

Prior to applying for a work permit, foreign nationals wishing to

work in Thailand must obtain a non-immigrant visa (category B).

The visa can be applied either before or after arrival in Thailand.

The work permit application can be done by either the foreigner

or the employer of the foreigner.13

12Source: Ministry of Labour and Welfare, Thailand13Source: Ministry of Labour and Welfare, Thailand


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3.3.1 Documents Required for the Application

of a Work Permit14

The following documents are required from the applicant at thetime of applying for a work permit:

| A copy of the identification page of applicants passport

| A non-immigrant visa

| A copy of the passport page with the entry stamp

| A copy of the applicants degree, resume or transcript

| A medical certificate mentioning that the applicants health

condition is suitable for work

| Two recent photographs of size 4cm x 6cm

| Work permit application fee

Additionally, the employer of the applicant is required to provide

tax and legal documents concerning the nature of its business

and employees.

3.4 Average Rent for Office Space in Thailand

The average office rental expense in Bangkok is much higherthan in other cities in Thailand. According to reports by CB Ri-

chard Ellis, in Q2 2012, the average rent for Grade A CBD15office

space was approximately EUR 17,3 (THB 734) per square metre

per month.16

3.5 Average Living Costs for Expatriates

Thailand is famous as a personal low-cost environment. Food,

clothing, public transport, etc. in Thailand are cheaper than in

developed countries. Some examples of the cost of living in

Bangkok are listed below:17

14

Source: Business-in-Asia.com15Central business district16Source: CB Richard Ellis, Thailand17Source: NumbeoConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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| A meal in an inexpensive restaurant costs approximately EUR 1,52

| A bottle (0,33 litres) of Coca Cola costs approximately EUR 0,39

| Taxi fares for a 5-kilometre trip within the city centre in Bang-

kok cost about EUR 0,65

| Metro fares in Bangkok range from EUR 0,4 to EUR 0,9 (THB

15 to THB 40)

| Rentals for serviced apartments within the city centre in Bang-

kok range from EUR 249,03 to EUR 747,09 per month

The cost of living in Thailand varies depending on the region in

the country. The cost is higher in major cities or provinces such as

Bangkok and Phuket, while the cost is lower in smaller provinces.

Compared with major cities in Southeast Asia, Bangkok is less ex-

pensive than cities such as Singapore, Kuala Lumpur, Hanoi and HoChi Minh. According to Mercers Cost of Living Survey Worldwide

Rankings 2012, Bangkok ranked 81stmost expensive city.18

18Source: Mercers Cost of Living Survey 2009Conversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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4. Social Security System in Thailand

The Thai Social Security Act requires employers and employees

to participate in the social security system. All employers must

register their employees in the system. All employees that meet

certain criteria are insured.

4.1 Social Security

The social security system in Thailand comprises two funds: So-

cial Security Fund and Workmens Compensation Fund. The Social

Security Office, Ministry of Labour and Social Welfare, is the legal

authority for both funds. The main focus areas of Thais social

security system include medical, maternity insurance, accident

and work-related injury, disability, old age, unemployment, as-

sistance for family, and death.

Employers and employees are required to regularly contribute

a certain amount to the funds. Employers must withhold social

security contributions from the monthly wages of employees,

and are also required to contribute the same amount as the

contributions of their employees. The contributions must be

remitted to the Social Security Office within the 15thday of the

following month.

4.1.1 Social Security Fund

4.1.1.1 Old Age Benefit19

The conditions for applicants to be eligible for the old age pen-

sion benefit include the following:

| The applicant has made contributions for not less than 180

months (consecutively or inconsecutively)

| The applicant has reached 55 years of age

| The applicants status of being insured has been terminated19Source: Social Security ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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The old age pension benefit is listed below:

|An insured person who has made contributions for not less

than 180 months is entitled to the old age pension benefit on

a monthly basis at the rate of 15 percent of the average wage of

the last 60 months used as a basis for calculation of the contri-

bution before the termination of the status of being insured.

| In the case of making contributions for over 180 months, the

rate of old age pension benefit shall be increased at the rateof 1,5 percent per every 12 months of the period of making

contributions exceeding 180 months.

4.1.1.2 Unemployment Benefit20

The conditions for the applicants to be eligible for unemploy-

ment benefit are listed below:| The applicant must register at the State Unemployment Office

within 30 days of being unemployed

| The applicant is capable of undertaking work and is ready to

take on any suitable job as offered

| The applicant must not reject the job training| The applicant must not be entitled to old age benefit

The unemployment benefit is listed below:

| In case of termination of employment, the insured person is

entitled to the unemployment benefit for a maximum of 180

days per year at the rate of 50 percent of the wage calculatedfrom the contributions made but not more than EUR 5,9 (THB

250) per day.

| In the case of resignation, the insured person is entitled to the

unemployment benefit for a maximum of 90 days per year at

the rate of 30 percent of the wage calculated from the contri-

butions made but not more than EUR 5,9 (THB 250) per day.

20Source: Social Security Office, Thailand


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4.1.1.3 Child Allowance Benefit21

The conditions for applicants to be eligible for the child allow-

ance benefit are listed below:

|The applicant has made contributions of not less than 12

months within a period of the last 36 months prior to the

month in which the applicant is entitled to the benefit.

| The child allowance benefit is eligible for legitimate children

aged not more than six years old, and is limited to not more

than two children for an applicant.

The child allowance benefit is paid on a lump sum basis at the

rate of EUR 8,3 (THB 350) per month per child.

4.1.1.4 Death Benefit22

The applicant for the death benefit must have made contributions

for not less than 1 month within a period of the last 6 months.

The death benefit (payable to the legal beneficiary) includes the

following:

| The insured person is entitled to a funeral grant of EUR 944

(THB 40.000).

|The insured person who has made contributions for over 3

years but less than 10 years is entitled to assistance benefit at

the value of the average wage of 1,5 months.

| The insured person who has made contributions for over 10 years

is entitled to assistance benefit at the value of the average wage

of five months.

21Source: Social Security, Thailand22Source: Social Security, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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4.1.1.5 Medical Benefit23

Expenses for medical examination and treatment, hospitalisa-

tion, medicines, rehabilitation, ambulance fees, and other neces-

sary expenses are provided. The insured person must register

with a selected hospital in the Social Security Programme. Bene-

fits are provided by the hospital the insured person is registered

with. Medical treatment outside this hospital can be sought in

cases of emergency and accident only, in which case costs arereimbursed. Additional benefits are as follows:

| The insured person is entitled to a compensation benefit for

loss of income at the value of half of the current wage based

on the actual number of days of leave, but not exceeding 90

days per period, and not exceeding 180 days in a year.

| In case of a chronic illness, the insured person is entitled to

a compensation benefit for loss of income for a period not

exceeding 365 days.

4.1.1.6 Disability Benefit24

The applicant for disability benefits must have made contribu-tions for not less than 3 months within a period of 15 months

prior to the date of being declared a disabled person.

The disability benefit includes the following:

| The medical treatment cost is reimbursed as actual, but not

more than 283,2 (THB 12.000) per month.

| The compensation benefit for loss of income of 50 percent of

the monthly wage is paid until death. The costs of artificial

organs, equipment and therapeutic equipment are also paid.



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4.1.1.7 Childbirth Benefit25

The applicant for childbirth benefits must have made contribu-

tions for at least 7 months within a period of 15 months prior to

the expected date of childbirth. Maternity benefits are paid for

two child births only.

The childbirth benefits include a childbirth grant paid on a lump

sum basis of EUR 283,2 (THB 12.000) per birth.

4.1.2 Workmens Compensation Fund26

Workmens Compensation Fund is for covering the compensation

paid to employees in the following cases:

| Sustaining injury or illness

The compensation covers the expenses of medical treatment,

but not exceeding EUR 1.062 (THB 45.000)

| Disability resulting from undertaking work

The monthly compensation is at the rate of 60 percent of the

monthly wage according to the type of disability, but not ex-

ceeding 15 years.

| Death or disappearance from work

The compensation for funeral grant is 100 times the highest rate

of the daily minimum wage.

The monthly compensation is at the rate of 60 percent of the

monthly wage for a period of 8 years (payable to the legal

beneficiary).



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5 Special Economic Zones in Thailand

5.1 Introduction

There are two types of Special Economic Zones (SEZs) in Thailand:

Export Processing Zones (EPZs) and Free Zones (FZs). The govern-

ment has implemented various tax privileges in EPZ and FZ to

promote international trade in the country.

5.2 Export Processing Zone27

An Export Processing Zone (EPZ) is an area designated for industrial

operations, trading activities, services or other operations beneficial

to or concerning industrial operations for the purpose of exporting

products. Generally, EPZs are located in industrial estates. Companies

in EPZs are granted tax and non-tax privileges offered by the Industrial

Estate Authority of Thailand. Currently, there are 9 EPZs in Thailand.

Table 4: Export Processing Zones in Thailand

EXPORT PROCESSING ZONE LOCATION

Lard Krabang Industrial Estate Bangkok

Bangpoo Industrial Estate Samut Prakan

Bangpa-In Industrial Estate Ayutthaya

Baan Wa Hi-Tech IndustrialEstate

Ayutthaya

Plang Yaow Industrial Estate Gate Way City, Chachoengsao

Bo-Win Industrial Estate Chonburi

Laem Chabang Industrial Estate Chonburi

Northern Region Industrial Estate Lamphun

Southern Region Industrial Estate Chalung, Songkhla

Source: Customs Department, Thailand

27Source: Customs Department, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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5.2.1 Benefits for Companies in Export Processing Zones

The Industrial Estate Authority of Thailand offers various benefits

for companies in EPZs, as listed below:

| Exemption from special surcharges and import/internal tax-

es and duties

Machinery, equipment, tools and supplies including parts

transported into the EPZ for the purpose of manufacturing

goods, and constructing or assembling a factory or a build-

ing in the EPZ are not subject to special surcharges under the

Investment Promotion Act, import duty, excise tax and value-

added tax (VAT).

| Exemption from export duty, excise tax and value-added tax

Imported products, and products and by-products generatedfrom a manufacturing process in the EPZ are not subject to

export duty, excise tax and VAT, provided that the products

are exported to other countries.

| Zero tax rate for VAT

The following situations are applicable for the VAT rate ofzero percent:

- Sales of products or services among companies in either the

same or different EPZs

- Sales of products or services between companies in EPZs

and bonded warehouses- Domestic products transported into EPZs

5.3 Free Zone28

A Free Zone (FZ) is a designated area for industrial or commercial

operations or any other operations involving economic growth and

development. The Free Zone Programme has been implemented to28Source: Customs Department, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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promote competitiveness by encouraging companies to maintain

and expand their operations in Thailand. Foreign and local goods

transported into FZs are eligible for tax and duty privileges.

5.3.1 Benefits for Companies in Free Zones

The government offers a package of tax and non-tax benefits

for companies in FZs as listed below:

| Exemption from import and internal taxes and duties

Imported goods transported into or manufactured in the

FZ for industrial or commercial operations or any other op-

erations concerning economic growth and development are

not subject to import taxes and duties. The goods include:

- Machinery, equipment and parts

- Foreign products

- Products transferred from other FZs

| Exemption from export duties on re-exports

Foreign goods, transported into the FZ, that are re-exported to

other countries are not subject to any customs taxes or duties.

| Exemption from standard/quality control requirements

Products and local raw materials transported into the FZ

for manufacturing, assembling, packaging or any other op-

erations are exempted from any standard/quality control re-

quirements or any other similar requirements, provided that

the end-products are re-exported to other countries.

5.3.2 Establishment of a Free Zone

Free Zones are typically private manufacturing sites approved

by the Customs Department. State-owned companies or limited

companies may apply for a grant of authority to establish a Free

Zone. The main objective of setting up a Free Zone must not be

only for benefit of any particular user of the zone. The licensee

of the Free Zone must provide necessary utilities, facilities and


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services. In addition, the licensee must provide an appropriate

office and residence for Customs officers. Residential areas are

not permitted in Free Zones.

Users of a Free Zone are entities using the zone under an agree-

ment with the licensee of the Free Zone. The Free Zone users

must receive approval from the licensee and the Customs De-

partment to undertake permitted activities in the zone.



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6 Opening a Bank Account in Thailand

6.1 Overview of Retail BankingThe Thai banking industry is primarily made up of major Thai

banks, including Bangkok Bank, Kasikorn Bank and Siam Com-

mercial Bank. The industry is regulated by the Bank of Thailand.

The Thai banking sector witnessed a net profit of EUR 3,4 billion

(THB 144,1 billion) in 2011.29

Commercial banks in Thailand include local commercial banks,

local retail banks, subsidiaries and branches of foreign banks. By

September 2012, there were 6339 bank branches established in

Thailand, including 15 branches of foreign banks which are all

located in Bangkok.

Table 5:Commercial Bank Categories in Thailand

CATEGORY NUMBER OFBANKS

NUMBER OFBRANCHES

Thai commercial banks 14 5,626

Thai retail banks 1 29

Subsidiaries of foreign banks 1 3

Branches of foreign banks 15 (as ofAugust 2012)

15 (as ofAugust 2012)

Source: Bank of Thailand

29Source: Bank of ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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Table 6:Major Commercial Banks in Thailand

BANK TOTAL ASSETS AT THE END OF 2008(IN EUR MILLION)

Bangkok Bank 34,908.6

Krung Thai Bank 27,740.0

Kasikorn Bank 27,362.2

Siam CommercialBank

25,798.4

Bank of Ayudhya 15,562.8

TMB Bank 12,553.0

Siam City Bank 8,672.5

Thanachart Bank 7,706.1

Source: Bank of Thailand

6.2 Procedures for Foreigners

to Open Bank Accounts In Thailand

6.2.1 Procedures to Open Company Bank Accounts30

Generally, any type of juristic persons, including limited com-

panies, branch offices and representative offices, are permitted

to open bank accounts. The following documents are generally

required for opening a company bank account:

| Passports and work permits of the authorised persons| Memorandum of Association of the company

| Commercial registration of the company

| Signature specimens of the authorised persons

| Minimum deposit (depending on the types of account and banks)

30Source: Kasikorn BankConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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6.2.2 Procedures to Open Personal Bank Accounts31

Foreigners who are working in Thailand can open personal bank

accounts at any commercial bank. The following documents are

generally required for opening a personal bank account:

| Passport and work permit of the applicant

| Minimum deposit (depending on the type of account and bank)

31Source: Bangkok BankConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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7 Recruitment of Local Staff

Various recruitment channels in Thailand include campus re-

cruitment, media advertisements (newspapers, magazines, TV

and broadcasting), Internet recruiting, on-site recruiting, inter-

nal references and head-hunting agencies. Additionally, there

are public recruitment events and job fairs organised by either

government organisations or the private sector.

7.1 Brief Overview of Labour Laws

Thailands labour laws are developed and regulated by the Min-

istry of Labour and Welfare. Employment legislation has a direct

bearing on labour practices for each type of business. The main

laws covering Thai labour laws are:32

| Labour Relations Act B.E. 2518 (1975)

| Labour Protection Act B.E. 2541 (1998)

7.1.1 Labour Relations Act B.E. 2518 (1975)

The Labour Relations Act concerns the labour relations enhance-

ment system and procedures between employers and employ-

ees, such as procedures for submission of demand for modi-

fication to the conditions of employment and procedures for

settling labour disputes. In addition, the law controls employer

and employee rights to establish labour associations and labour

unions for acquiring and protecting their interests relating to

the conditions of employment. The law aims at creating a goodunderstanding and successful reconciliation between employ-

ers and employees.

7.1.2 Labour Protection Act B.E. 2541 (1998)

The Labour Protection Act concerns the rights and duties of

employers and employees. It primarily establishes minimum32Source: Ministry of Labour and Welfare, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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standard practices in general labour force utilisation, women

and children labour utilisation, severance and remuneration. In

addition, the law prescribes the interventions by governmentofficials in providing protection to ensure fairness and sound

occupational health for the maximum benefit of both employers

and employees.

7.2 Major Recruitment Agencies and Websites

Table 7 lists the major recruitment agencies in Thailand and

their websites.

Table 7:Major Recruitment Agencies and Websites

TOP THREE INTERNET RECRUITMENTAGENCIES

WEBSITES

SiamHRM www.siamhrm.com

Jobbkk.com www.jobbkk.com

Jobth.com www.jobth.com

Leading head-huntING Agencies websites

Kelly Services www.kellyservices.co.th

Adecco www.adecco.co.th

Sources: Internet Innovation Research Centre

7.3 Average Salary Range

The median salary ranges (per year) by job, employer type, industry,

city and degree in Thailand as on 1 October 2012, as per PayScale,

are presented in tables 8 to 12 below:



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Table 8:Median Salary by Job in Thailand as of 1 october 2012

JOB MEDIAN SALARY (IN EUR)

Project Manager, IT 27.530

General Manager, Hotel 29.519

IT Manager 19.241

Managing Director NA

Software Engineer/Developer/Programmer

NA

Country Manager, General Operations NA

IT Consultant NA

Source: PayScale, 2012



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Table 9:Median Salary by Employer Type in Thailand as of

1 october 2012

EMPLOYER TYPE MEDIAN SALARY (IN EUR)

Company 17.494

Private Practice/Firm 14.406

Non-Profit Organisation 16.391

School/School District 14.834

College/University 11.147

Other Organisation 14.840

Hospital 13.914

Government - State & Local 16.680

Self-Employed 15.576

Government - Federal 22.326

Contract 22.656

Foundation/Trust 14.160

Franchise 9.912

Team 11.328




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Table 10:Median Salary by Industry in Thailand as of

1 october 2012

INDUSTRY MEDIAN SALARY (IN EUR)

IT Services 17.147

Hotel 15.576

Hotel and Hospitality Management 20.216

Banking 19.134

Software Development NA

IT Consulting 13.914

Financial Services NA


Table 11: Median Salary by Company Size in Thailand as of

1 october 2012

COMPANY SIZE MEDIAN SALARY (IN EUR)

1-9 12.141

10-49 14.083

50-199 19.094

200-599 18.983

600-1,999 22.828

2,000-4,999 27.903

5,000-19,999 24.236

20,000-49,999 28.320

50,000+ 32.614




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Table 12:Median Salary by Degree/Major Subject

in Thailand as of 1 october 2012

DEGREE / MAJOR SUBJECT MEDIAN SALARY (IN EUR)

Master of Business Administration(MBA)

9.202- 96.878

Master of Science (MS/MSc) 8.810- 11.525

Bachelor of Business Administration(BBA) NA

Bachelor of Science (BS/BSc),Computer Science

NA

Masters Degree NA

Bachelor of Engineering (BE/BEng) 8.554- 33.394

Bachelor of Arts (BA/AB) 5.940- 30.373

Sources: PayScale, 2012



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8 Taxation

8.1 Taxation in Thailand

In Thailand, taxes are imposed at both national and local lev-

els. The central government is the main taxing authority. The

principal taxes levied by the central government include direct

taxes (such as personal income tax, corporate income tax and

petroleum income tax), and indirect income taxes (such as value-

added tax, specific business tax, customs duties, excise tax andstamp duties).

The principal tax law in Thailand is the Revenue Code, which

governs personal and corporate income taxes, value-added tax,

specific business tax, and stamp duties. The Revenue Depart-

ment Ministry of Finance is the main authority responsiblefor the tax administration. In addition, the Customs Depart-

ment Ministry of Finance regulate customs duties; and the

Excise Department Ministry of Finance, is responsible for the

administration of excise tax.

8.2 Tax Rates8.2.1 Corporate Income Tax33

All juristic companies and partnerships established under Thai

or foreign law which carry on business in Thailand are subject

to corporate income tax. A Thai company is subject to tax on

worldwide income, while a foreign company is subject to tax

on income generated in Thailand.

Tax is generally levied at the rate of 30 percent of net profit. How-

ever,there are specific tax rates for certain types of taxpayers.

33Source: Revenue Department, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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Table 13: Corporate Income Tax Rates in Thailand

TAXPAYER TAX BASE TAX RATE

Thai and foreign companiesnot listed in Stock Exchangeof Thailand (SET)

Net profit 30%

Small companies with paid-up capital less than EUR118.000 at the end of each

accounting period

Net profit notexceeding EUR 23.600

15%

Net profit over EUR23.600 but notexceeding EUR 70.800

25%

Net profit exceeding30% EUR 70.800

30%

Companies listed in Stock

Exchange of Thailand (SET)

Net profit for the first

EUR 7,08 million

25%

Net profit for the 30%amount exceedingEUR 7,08 million

30%

Foreign companiesengaging in international

transportation

Gross receipts 3%

Foreign companies notcarrying on business inThailand but receivingdividends from Thailand

Gross receipts 10%

Foreign companies notcarrying on business inThailand but receivingother types of incomebesides dividend fromThailand

Gross receipts 15%

Foreign companiesdisposing profit out ofThailand

Amount disposed 10%

Source: The Revenue Department, Thailand



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8.2.2 Withholding Tax34

Foreign companies that do not carry on business in Thailand are sub-

ject to withholding tax on certain categories of income generatedin Thailand. The withholding tax rates applied to foreign companies

may be further reduced or exempted under tax treaties.

Table 14:Withholding Tax Rates in Thailand

CATEGORY TAX RATE

Rate on Dividends 10% of dividends paid to Thai and foreigncompanies

Rate on Interest 1% of interest paid by financial institutions(banks and finance companies) toThai companies that are not financialinstitutions

15% of interest paid to foreign companies

Rate on Royalties 3% of royalties paid to Thai companies andpartnerships

15% of royalties paid to foreign companies

Others 15% of capital gains, service fees,professional fees and rents paid to foreign

companies 3% of service fees and professional feespaid to Thai companies or permanentbranch offices of foreign companies

5% of service fees and professional feespaid to non-permanent branch offices offoreign companies


8.2.3 Personal Income Tax35

Taxable income (net assessable income) of an individual is derived

after all expenses and allowances have been deducted from the as-

sessable income. Taxable income shall be subject to tax at progressive

rates ranging from 10 percent to 37 percent, with an exemption on

the first EUR 3.540 of net assessable income.

34Source: Revenue Department, Thailand35Source: Revenue Department, Thailand


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Table 15: Personal Income Tax Rates in Thailand

TAXABLEINCOME (EUR)

MARGINALTAXABLE

INCOME (EUR)

TAX RATE MAXIMUMACCUMULATED

TAX (EUR)

0 3.540 3.540 Exempt 0

3.540 11.800 8.260 10% 826

11.800 23.600 11.800 12% 4720

23.600 94.400 70.800 30% 21.240

94.400 andover NA 37% NA


8.2.4 Value-added Tax36

Value-added tax (VAT) is an indirect tax collected upon consump-

tion, i.e. at each stage of production or distribution of goods

or provision of services. The standard rate for VAT is 7 percent.

All sales of goods, provision of services and imports of goods

are subject to this rate. However, certain business activities aresubject to VAT at the rate of zero percent, including the following:

| Exports of goods

| Services performed in Thailand but utilised in a foreign country

| International transport services through aircraft or sea vessels

| Supply of goods and services to government agencies or

state-owned companies under foreign aid programmes, and

the United Nations and its organisations

8.3 Tax Incentives

The Board of Investment of Thailand provides tax incentives to

investors and companies who invest in projects in Investment

36Source: Revenue Department, Thailand


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Promotion Zones. The tax incentives vary depending on the location

of the investment. In fact, the tax incentives are categorised based

on three zones throughout the country.

Table 16: Tax Incentives for Investment Promotion Zonesin Thailand

ZONE LOCATION TAX INCENTIVES

Zone 1 Bangkok, SamutPrakan, SamutSakhon, NakhonPathom, Nonthaburiand Pathum Thani

50% reduction of importduties on machinery that issubject to import duties of notless than 10%

Corporate income taxexemption for 3 years forprojects located withinindustrial estates, providedthat such a project with a

capital investment of notless than EUR 0,20 million(excluding cost of land andworking capital) obtains ISO9000 or similar internationalstandard certification within2 years from its start-up date;otherwise the corporate

income tax exemption will bereduced by 1 year Import duty exemption on raw

or essential materials used inthe manufacturing of exportproducts for 1 year



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Zone 2 Ang Thong,Ayutthaya,Chachoengsao,Chonburi,Kanchanaburi,Nakhon Nayok,Phuket, Ratchaburi,Rayong, SamutSongkhram, Saraburiand Suphanburi

Import duty exemption onmachinery for projects locatedwithin industrial estates;and 50% reduction of importduties on machinery that issubject to import duties ofnot less than 10% for projectslocated outside industrialestates

Corporate income taxexemption for 3 years,increased to 7 years, forprojects located withinindustrial estates, providedthat such a project withcapital investment of notless than EUR 0,20 million

(excluding cost of land andworking capital) obtains ISO9000 or similar internationalstandard certification within2 years from its start-up date;otherwise the corporateincome tax exemption will bereduced by 1 year

Import duty exemption on rawor essential materials used inthe manufacturing of exportproducts for 1 year



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Zone 3 The remaining 58provinces

Import duty exemption onmachinery

Corporate income taxexemption for 8 years,provided that a project withcapital investment of notless than EUR 0,20 million(excluding cost of land andworking capital) obtains ISO9000 or similar internationalstandard certification within2 years from its start-up date;otherwise the corporateincome tax exemption will bereduced by 1 year

Import duty exemption on rawor essential materials used in

the manufacturing of exportproducts for 5 years

Deduction made from netprofit of 25% of the projectsinfrastructure installation orconstruction costs in additionto normal depreciation; andsuch deduction can be made

from the net profit of one orseveral years within 10 yearsfrom the date of first sales

Source: The Board of Investment, Thailand

8.4 Double Tax Treaty37

Thailand has concluded double taxation agreements with many

countries, including Luxembourg. The general principle is that

the country in which the income arises (source country) has the

prior right to tax and the country of residence will grant relief

(tax exemption or tax credit) from paying taxes twice on the

same income. Another advantage of tax treaties is to provide

cooperation between governments in preventing tax evasion.37Source: Revenue Department, ThailandConversion Rates used are as follows:1 USD = EUR 0.7179 (2011)1 THB = EUR 0.0236 (2011)


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The agreement regarding double taxation between Thailand

and Luxembourg is specified in the Convention between the

Kingdom of Thailand and the Grand Duchy of Luxembourg forthe Avoidance of Double taxation and the Prevention of Fiscal

Evasion with Respect to Taxes on Income and on Capital. The

convention applies to taxes on income and on the capital of

individual and juristic entities, including the following:

| In the case of Thailand:

Income tax

Petroleum income tax

| In the case of Luxembourg:

Income tax on individuals

Corporation tax Tax on fees of directors of companies

Capital tax

Communal trade tax

8.5 Repatriation of Profits38

The repatriation of after-tax profits of a branch office in Thailand

to the foreign parent company, or keeping such profits abroad

where the parent company has directly received a payment for

goods sold or services performed in Thailand, is subject to further

income tax at the rate of 10 percent of the after-tax profits actu-

ally or deemed to be remitted. Repatriation of assessable income

from Thailand to foreign companies not carrying on business in

Thailand is subject to the following withholding taxes:

| 10 percent of dividends

| 15 percent of royalties, interest, rent, service fees or capital gains

Regional operating headquarters (ROH) are exempted from

withholding taxes on profit repatriation.

38Source: Business Information Centre


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9 Appendix

Appendix I: Useful Links and Addresses

TYPE OF ORGANISATION ADDRESS

MINISTRIES, AGENCIES AND SERVICES IN THAILAND

Embassy of the Grand Duchyof Luxembourg in Bangkok

Embassy of Luxembourg, QHouse Lumpini, 17th Floor,1 South Sathorn Road,Tungmahamek, Sathorn,Bangkok 10120

Royal Thai Embassy in Brussels Royal Thai Embassy,Chaussee de Waterloo, 876,1000, Brussels, Belgium

Royal Thai Consulate-General

in Luxembourg

Royal Thai Consulate-General, 14,

Rue Erasme,L-1468, Luxembourg

Royal Thai Government Government House,1 Nakornpratom Road, Dusit,Bangkok 10300

Ministry of Finance Ministry of Finance,

Rama 6 Road, Phayathai,Bangkok 10400

Ministry of Foreign Affairs Ministry of Foreign Affairs,443 Sri Ayudhya Road,Bangkok 10400

Ministry of Commerce Ministry of Commerce,

44/100 Nonthaburi 1 Road,Muang, Nonthaburi 11000

Ministry of Labour andWelfare

Ministry of Labour and Welfare,Mitmaitri Road, Dindaeng,Bangkok 10400

Department of BusinessDevelopment

Department of BusinessDevelopment, 44/100Nonthaburi 1 Road, Muang,Nonthaburi 11000



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CONTACTS WEBSITE

Tel:+66-(0)2677-7360Fax: +66-(0)2677-7364Email:

[email protected]

http://bangkok.mae.lu/

Tel:+32-2-640-68-10Fax:+32-2-648-30-66

http://www.thaiembassy.be/

Tel:+35-2-40-78-78

Fax:+35-2-40-78-04

Not Applicable

Tel:+66-(0)2280-3000Email:[email protected]

http://www.thaigov.go.th/

Tel:+66-(0)2273-9021

Fax:+66-(0)2273-9790

http://www2.mof.go.th/

Tel:+66-(0)2643-5000 http://www.mfa.go.th/

Tel:+66-(0)2507-8000

Fax:+66-(0)2507-7717

http://www.moc.go.th/

Tel:+66-(0)2245-4310 to 14Fax:+66-(0)247-5380

http://www.mol.go.th/

Tel:+66-(0)2547-5050Fax:+66-(0)2547-4459

http://www.thairegistration.com/



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TYPE OF ORGANISATION ADDRESS

Bank of Thailand Bank of Thailand,273 Samsen Road,Bangkhunprom, Bangkok 10200

Stock Exchange of Thailand(SET)

Stock Exchange of Thailand,62 Ratchadaphisek Road,Klongtoey, Bangkok 10110

Board of Investment (BOI) Board of Investment,555 Vibhavadi-Rangsit Road,Chatuchak, Bangkok 10900

Revenue Department Revenue Department, 90 SoiPhaholyothin 7, PhaholyothinRoad, Bangkok 10400

Social Security Office Social Security Office, 88/28 Moo4 Tivanond Road, Talad Khwan,Muang, Nonthaburi 11000

Customs Department Customs Department, 1Sunthornkosa Road, Klongtoey,Bangkok 10110

Department of ExportPromotion

Department of ExportPromotion, 44/100 Nontaburi1 Road, Bang Krasor, Muang,Nontaburi 11000



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CONTACTS WEBSITE

Tel: +66-(0)2283-5353Tel: +66-(0)2283-5010Fax: +66-(0)2280-0449Fax:+66-(0)2280-0626

http://www.bot.or.th/

Tel:+66-(0)2229-2000Tel:+66-(0)2229-2222

http://www.set.or.th/

Tel:+66-(0)2537-8111 to 55Fax:+66-(0)2537-8177Email:[email protected]

http://www.boi.go.th/

Tel:+66-(0)2272-8000Tel:+66-(0)2617-3321Fax:+66-(0)2617-3324

http://www.rd.go.th/

Tel:+66-(0)2956-2345Fax:+66-(0)2526-0658Email:[email protected]

http://www.sso.go.th/

Tel:+66-(0)2249-0431 to 40Fax:+66-(0)2667-7334

http://www.customs.go.th/

Tel:+66-(0)2507-7999Fax:+66-(0)2507-8019Email:[email protected]

http://www.thaitrade.com/http://www.depthai.go.th/



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10 Disclaimer

The Government of the Grand Duchy of Luxembourg declines

all responsibility regarding the use of information featured in

this document. The contents are provided for information pur-

poses only. They contain information which is not necessarily

complete, exhaustive, precise or up to date. In the event of dis-

crepancies between the texts of this publication and the original

documents, the original documents as officially published shallapply. This publication may refer to external sites over which the

Government of the Grand Duchy of Luxembourg has no control

and for which it declines all responsibility.



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Luxembourg for Business

FEBRUARY2013