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Bussiness Information :
THAILAND,with a population of 64 million puls, and covering a land area of 513,115 sq km (about the same size as France) receives more than 12 million tourists, including business tourists and visitors to MICE (metings, incentives, conventions, exhibitions) events per year. Foreign investment continues to increase, and in 2006 Thailand's GDP grew by nearly six percent. Time difference is GMT + 7 hours. Head of Bhuimibol Adulyadej, rama IX
GENERAL INFORMATION :
CURRENCY - Thai Baht, with an approximate exchange rate of Bt34 to the US$ (October 2007) comes in denominations of 1,000(grey); 500(purple); 100(red); 50(blue); 20(green); 10(brown). Coins are minted in values of 10; 5; 1; 50 and 25 satang.
TELEPHONES - International Direct Dialling (IDD) is available in most areas. There are two telecom companies, the TOT (Telephone Organisation of Thailand), and the CAT (Communications Authority of Thailand). Independent service providers for mobile telephones include AIS,DTAC; Hutch-True;
MEDIA - There are currently three English language daillies in Thailand, The Banfkok Post, The Nation, and Business Day. Several radio stations broadcast in English.
National TV Channels 3,5,7,9,11, plus independent tiTV, and cable operator UBC for programmes in English.
POSTAL SERVICES - The Head Post Office (on Charoen Krung road, near the Oriental and Royal Orchid Sheraton Hotels) is open from 08.00a.m. to 12.00 p.m. on Saturdays.
GOVERNMENT STORES - Open from 8 a.m.- noon and again from 1-4:30 p.m.,Monday to Friday.
DEPARTMENT STORES - Are found in all urban areas, and are open seven days a week from 10.00 to 21.00. Thai and international branded names.
USEFUL TELEPHONE NUMBERS :
Directory Enquiries - 1133
Long Distance Service - 100
IDD...001+ Country Code+Area Code+
Plus Phone Number Tourist Police - 195, 1699 (Bangkok)
Bangkok International Airport (Don Muang) Tel: [02]535-111
Bangkok International Airport (Suvarnabhumi) Tel: [02]132-1888
BUSINESS/INVESTOR INFORMATION :
BANKS - There are 17 Thai banks with branches throughout the country. They are open from 8:30 a.m. in the morning to 4:30 p.m. in the afternoon. (Monday - friday)
CREDIT CARDS - All recognised major credit cards are generally accepted in outlets and hotels all over the country.
American Express - 273 0022, 273 0044
Diner's Club - 238 3660
Mastercard - 001 8001 18 870663
Visa - 273 7448, 273 7449
VISA REQUIREMENTS ;
* Transit visa - single entry Bt. 800 - 30 days
* Tourist visa - single entry Bt. 1,000 - 30-60 days
* Non immigrant visa - single entry Bt. 2,000 - 90 days
* Non immigrant visa - multiple entry for use with in one year Bt. 5,000
* Diplomatic visa and Official visa - 90 days
* Courtesy visa - 90 days
* Visa on Arrival - 15 days
* Visa Exemption
- Diplomatic and Official passport -30-90 days
- Ordinary passport -30-90 days
- APEC business travel card -90 days
- Aliens entering for a temporary stay on confor ence purpose or international tournament hosted by Thai government -30 days
- Application for visa extension Bt. 1,900
- Application for a single Re entry Permit Bt. 1,000
- Application for a multiple Re entry Permit Bt. 3,800
- Application for a Residence Permit Bt. 7,600
BOARD OF INVESTMENT :
Through the Broard of Investment, the government offers a range of tex incentives, support services and import duty concessions to an extensive list of businesses that are regarded as priority or promoted industries. The BOI, as an investment promotion agency, remains committed to provide not only up-to-date information on various investment opportunities available throughout Thailand, but also to provide attractive incentives, services, and benefits to both existing and potential investors. www.boi.go.th/english Tel:(66 2) 537 8111-55
DEPT. OF EXPORT PROMOTION :
The Department of export Promotion (DEP) provides invaluable support and a host of other important services to international and local businessmen. The DEP is entrusted with the following duties and responsibilities: To promote and expand the market for Thai exports in goods and services by penetrating new markets and to preserve existing ones; to develop and perform activities that promote trade and increase the competitiveness of the export sector, to build a positive image of Thai goods and services, and thereby increase the market's confidence in Thai products, in terms of quality.
The DEP provides Thai manufacturers and exporters, as well as foreign importers, with trade information services.
The DEP also operates a permanent exhibition centre, the Trade Mart, on Ratchadaphisex Road. www. thaitrade.com Tel: (66 2) 5115066
INDUSTRIAL ESTATES AUTHORITY :
The IEAT is the government mechanism for national development, attracting investment and generating employment. At present it accommodates about 2,494 factories, efficiently organized in a systematic, orderly fashion. This represents an investment of 1.2 trillion baht (roughly 27 billion US dollars), and employment of 376,751 people. The IEAT has developed mechanisms for spreading growth and economic progress throughout the country. There are 30 industrial estates in 13 provinces in all regions of Thailand, covering three districts, supported by the Thailand Board of Investment (BOI). www. ieat.go.th Tel: (66 2) 365 9699
STOCK EXCHANGE OF THAILAND (SET) :
The SET is designed to be a liquid secondary market for securities to raise funds and win confidence from all stakeholders.
www.set .or.th/en Tel: 02 229 2000
TAXATION :
Corporate Income Tax Juristic companies and partnerships organised under Thai law are subject to income tax on income earned from sources within and outside of Thailand. The definition of juristic companies and partnerships for income tax purposes are broader than those under the Civil and Commercial Code. Juristic companies and partnerships for income tax purposes include, but are not limited to:
- private and public limited companies
- registered ordinary and limited partnerships
- joint ventures
- foundations and associations.
A branch of a foreign corporation is taxed only on income derived form sources within Thailand. Tax is imposed on the net profits of juristic companies and partnerships, ascertained in accordance with generally accepted accounting principles, subject to conditions imposed by the Revenue Code of Thailand.
VALUE ADDED TAX (VAT) :
VAT 7 percent on the value of goods sold and services rendered at every level, including on importation. Certain categories of goods and services (eg exports) are to zero percent. In addition, other categories of goods and services (eg sales of agricultural products) are exempt from VAT.
WORK PERMIT :
A foreign citizen is legally able to work in Thailand if he or she has a proper passport visa, a valid work permit, and the individual performs no work which violates the Alien Employment Act BE 2521 (AD 1978). Established governmental procedures exist which allow a non-Thai national or alien to obtain all of the requisite approvals for legally performing work in Thailand. Before applying the person must hold a non- immigrant B class visa.
The Department considers six factors, which it believes constitute an economic benefit to the country. These areas are the promotion of foreign currency importation, exportation of goods, skilled personnal, employment of local labor, new technology, and tourism. This list is not conclusive, and an applicant can attempt to demonstrate that his or her employment will benefit the Kingdom in other ways.