Under the regulations announced on 20 July 2018, the Board of Investment ("BOI") has implemented a new system intended to replace the previous system and all paper documents for visa and work permit applications. The new electronic system, which was launched on 1 August 2018, allows companies receiving BOI incentives to apply for employee work permits and long-term visas online.
For the past three years, the DBD has prohibited partnerships and limited companies from registering a tourism business in the business objectives, and also restricted them from using the words ‘tourism business’ in the entity’s name or wording which implied that the entity conducted a tourism business, unless the Department of Tourism had given the entity permission to conduct such a business.
The Department of Business Development (“DBD”) has introduced a new type of e-service for the public to access the information on the registration certificate of a legal entity without having to visit the DBD’s offices, in order to reduce travel costs and time spent.
Following the Royal Decree on Digital Asset Businesses, 2561 B.E. (2018 A.D.), the Securities and Exchange Commission (“the SEC”) has issued rules on the criteria for obtaining permission to conduct business offering digital tokens to the public and offering digital assets.
The Department of Business Development (“the DBD”) has decided to propose the removal of the following five service businesses from List Three* of the Foreign Business Act, 2542 B.E. (1999 A.D.) (“the FBA”).