Eastern Economic Corridor Law
The Eastern Special Development Zone Act B.E. 2561 (2018) is enacted to provide special rights and privileges to the Eastern Special Development Zone, an area consists of the provinces of Chachoengsao, Chonburi and Rayong, which is referred to as the Eastern Economic Corridor.
An operator in the Special Economic Promotional Zone in the Eastern Economic Corridor are entitled to special rights and privileges:
1. The operator (who is a juristic person) may hold an ownership in a land plot for a purpose of operating business without a need to obtain any permission under the Land Code.
2. The operator (who is either a juristic person or an individual) may hold an ownership in a condominium unit for purposes of operating business or residence without any restriction on a foreigner under the condominium law.
3. The operator may bring a foreign talent, one’s spouse, parents and children to enter and stay in the Kingdom.
4. A foreign talent may be entitled to income tax exemption or income tax reduction.
5. The operator has the right to enter into a financial transaction being exempt from the currency exchange control law and the right to use a foreign currency to pay for goods or services to another operator in the Special Economic Promotional Zone.
6. A requirement on Thai citizens for certain professions may be waived.
To read other collections of our published legal articles, click here
We trust the newsletter will be informative, enriching and useful for you and your business.
Should you require more information, please do not hesitate to contact us.
Yours faithfully,
Narit Direkwattanachai, LLM (Cambridge)
Attorney at Law
T: 086 785 0793
E: narit@naritlaw.com
|
