Thailand’s Kudun and Partners law firm recently compiled an investment-related Thai legal information to provide investors with a reference:
Thailand encourages free trade, so The Thai government has established a complete legal resource system to support and assist investors. In terms of laws and regulations involving investment, there are the Investment Promotion Law, the Foreign Enterprise Business Law, the Tax Code, the Patent Law, the Foreign Exchange Management Law, Land Law, Labor Law, etc. These laws and regulations constitute the organic system of Thailand’s foreign investment legal system.
As early as 1977, Thailand promulgated the "Investment Promotion Law" and was the first country in Asia to enact relevant laws. This law has been passed by the Thailand Investment Promotion Board. The Thai government supports and protects encouraged investors in many aspects such as land purchase, equipment import, product export, avoidance of competition, tax reduction and exemption, and profit remittance.
The "Foreign Business Business Law" is a law issued by the Thai government in 1999 to manage foreign business activities in Thailand. The law lists projects that are encouraged, restricted and prohibited for foreigners to operate.
Thailand’s newly revised “Trade Competition Law” strengthens the competition impact review of corporate mergers and acquisitions. Equity acquisitions, asset acquisitions, business mergers, and the establishment of joint ventures are all "mergers" governed by this law, and all have detailed legal provisions.
The main laws of "Intellectual Property Law" include "Trademark Law", "Patent Law", "Law for the Protection of Literary and Artistic Works" and "Copyright Law". Patents and trademarks need to be filed with the Intellectual Property Department of the Ministry of Commerce. Thailand also has a specialized intellectual property court responsible for litigation related to intellectual property rights.
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