Thailand encourages free trade, so the Thai government has established a complete legal resource system to support and assist investors. Laws and regulations related to investment include Investment Promotion Law, Foreign Enterprise Management Law, Tax Law, Patent Law, Foreign Exchange Management Law, Land Law and Labor Law, which constitute an organic system of Thailand's foreign investment legal system.
As early as 1977, Thailand promulgated the Investment Promotion Law, which was the first country in Asia to enact relevant laws. This law was passed by the Investment Promotion Committee of Thailand. The Thai government supports, protects and encourages investors in many aspects, such as purchasing land, importing equipment, exporting products, avoiding competition, reducing or exempting taxes, and remitting profits.
The Foreign Business Law is a law promulgated by the Thai government in 1999 to manage foreign business activities in Thailand. The law lists projects that encourage, restrict and prohibit foreigners from operating.
Thailand's newly revised trade competition law has strengthened the examination of the competitive impact of mergers and acquisitions. Equity purchase, asset purchase, enterprise merger and the establishment of joint ventures are all "merger" acts under the jurisdiction of this law, and all of them have detailed legal provisions.
The main laws include trademark law, patent law, literary and artistic works protection law and copyright law. Patents and trademarks need to be filed with the Intellectual Property Department of the Ministry of Commerce. Thailand also has a special intellectual property court, which is responsible for intellectual property litigation.
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