The work contracts in Thailand have numerous sections where there are specified the terms and conditions for the proper ways of completing the tasks. The employer and the employee need to respect the rules mentioned in the contract.
With the second largest economy in Southeastern Asia, a GDP established around 5% and a friendly business environment, there is no wonder why numerous financiers worldwide decide to relocate in Thailand.
The friendly nature, the cost of living and the rich and interesting culture have always been the main aspects to consider when deciding to move to Thailand.
As stated by the Civil and Commercial Code of Thailand, foreign citizens have pretty much the same property rights as Thai citizens. However according to the Land Code Act B.E. 2497 (1954), it is forbidden for foreign citizens to own land in the country.
Foreign businesses are mainly governed by the Foreign Business Act (FBA) in Thailand, which regulates a wide variety of businesses, as well as commercial and industrial activities which cannot be undertaken by foreign investors, except if an applicable license has been issued or an exemption is applied.