This week ThaiLawForum met Marc Faber over Skype to discuss his thoughts on the value of gold (and buying it as an investment), whether he thinks a period of hyperinflation is next, and his general thoughts on the Thai economy.
Thailand’s Foreign Business Act law has been in existence, in its present form, since 1999. The law is intended to protect certain business activities for Thai nationals when those business activities are considered to be important to the national interests of Thailand. To implement this policy the Foreign Business Law prohibits or restricts non-Thai nationals and Thai limited companies with majority non-Thai shareholding from engaging in the restricted business activities.
The law specifies three lists of restricted business activities, with List One being the most protected Thai business activities and thereby the most restrictive to non-Thais, to List Three which is the least restrictive category of business activities for non-Thais. The business activities listed under List Three are activities for which a foreign business license is still required, but may be easier to obtain than for those business activities on List One and List Two.
For many years, the category of “service businesses” on List Three has been too broad and general. Up until the recent amendments to List Three, foreign majority owned companies needed a special license to operate service businesses of any type.
However, the Foreign Business Law Amendments issued March 11, 2013 to List Three’s service businesses category provided much needed clarity to the overly broad definition of service businesses. These amendments listed specific service business business activities that are exempt from List Three of the Foreign Business Act, thereby allowing non-Thai nationals and foreign majority limited companies to provide the business services listed without needing to obtain a foreign business license.
It is hoped that these exempted categories of service businesses should provide non-Thai majority companies the ability to operate more freely to some extent within Thailand. Nevertheless, it is recommended that interested parties obtain independent legal advice before engaging in business activities in Thailand.
Coffee heavyweight, Starbucks have taken a Bangkok street vendor, to Court claiming his logo is a breach of their own.
Starbucks are arguing that they obtained an injunction against the vendor in September preventing him from continuing to use the logo.
The hearing was due to begin on Monday, but the brothers failed to show. They have now been ordered by the Court to attend on 18 November.
Bangkok trademark attorney law firm, Chaninat and Leeds explain that although Thailand does not officially require trademarks to be registered, the registration of a trademark ensures companies do not knowingly infringe on an existing mark.
The Thailand Metropolitan Police Bureau and the Thai FDA have seized approximately 66,264 packages of the coffee from brand ‘One Fan’ worth an estimated THB 3 million (approximately 96,500 USD or 60,000 GBP as at October 2013 exchange rate) after the illegal Sildenafil substance in previous samples of their coffee reports Khaosod Online.
If tests return positive for Sildenafil, the manufacturing company could face charges for adding illegal ingredients into their food, and if convicted can lead to two years imprisonment and a fine of up to THB 20,000 fine (approximately 643 USD or 400 GBP).