Legal Committee Talks Navigating Laws for Foreign Businesses
On June 10, at the JW Marriott Bangkok, the AMCHAM Legal Committee had the pleasure of welcoming Wayu Suthisarnsunthorn, Partner at Pisut and Partners, and Piyawannee Watanasakolpunt, Senior Associate at Chandler MHM to speak about the intricacies of the Foreign Business Act and other less known laws that regulate foreign investors’ activities in Thailand. AMCHAM’s guests and members had the opportunity to gain firsthand knowledge and figures from lawyers who have had extensive experience representing and working with foreign businesses in Thailand.
While the Foreign Business Act seems applicable to most foreign businesses, Wayu and Piyawannee thoroughly listed the exceptions to certain industries that are subject to different sets of regulations. Examples include the aerospace, logistics, and telecommunications businesses. Given the restrictions, Wayu and Piyawannee explored still many more investment avenues available to foreigners in Thailand. Nevertheless, the speakers warned of severe consequences for violating the Foreign Business Act and other laws derived from it.