Real Estate Rights Under the Marriage Equality Act

Building upon the earlier overview of the law (, this article delves deeper into the implications of the Marriage Equality Act on real estate rights for LGBTQ+ couples in Thailand. It focuses on two key aspects: condominium acquisition and land ownership. The Act facilitates joint management of marital property for married couples, irrespective of gender, allowing for equal rights in property transactions and inheritance. However, it clarifies that foreign ownership of land remains restricted to specific conditions, emphasizing the ongoing legal complexities faced by LGBTQ+ couples with foreign partners.

A. Condominium Acquisition

The Marriage Equality Act has significant implications for LGBTQ+ couples regarding condominium ownership. When a married couple jointly acquires a condominium unit, it becomes marital property under Section 1476 of the CCC, regardless of the partners’ genders. This shift from traditional “husband and wife” terminology allows LGBTQ+ couples to manage their property jointly during marriage, adhering to principles of joint ownership. Any major transactions like sales or encumbrances (e.g., mortgages, leases over 3 years) require mutual consent from both spouses.

An important benefit of the Act is inheritance rights for LGBTQ+ couples. Previously, without legal recognition, surviving partners faced challenges inheriting property if their spouse passed away intestate. Section 1629 of the CCC stipulates that without a will, ownership defaults to statutory heirs, potentially complicating inheritance. With the Act, LGBTQ+ married couples now have statutory inheritance rights (Section 1635 of CCC). If no statutory heirs remain, the surviving spouse inherits the entire estate. If heirs exist, inheritance is proportionate based on their class.

B. Land Acquisition

Land ownership in Thailand by foreigners is strictly regulated under specific conditions: inheritance as a statutory heir (Section 93 of the Land Code), investment approvals (Section 96), or for commercial/industrial use with Board of Investment (BOI) or Industrial Estate Authority of Thailand (IEAT) permissions. Marriage to a Thai national, whether same-sex or different-sex, does not exempt a foreign spouse from these regulations.

Previously, LGBTQ+ couples unable to legally marry under Thai law navigated land acquisition through Thai partners, often without legal standing. To secure rights, options like long-term leases or usufructs were utilized, offering control but not full ownership.

Even with the Marriage Equality Act, land ownership by LGBTQ+ couples with foreign partners remains restricted. Only Thai nationals can be sole landowners. During registration, the Thai spouse must affirm that funds used are personal, designating the property as personal rather than marital.

For personalized legal advice on these matters, please contact us at

Real Estate Rights Under the Marriage Equality Act [please download]

Advancements in Thailand’s Marriage Equality Legislation of 2024

Thailand has witnessed significant social progress in recent years, with growing societal interest in enhancing the rights and well-being of LGBTQ+ individuals. In response to this momentum, there has been a social movement to legalize same-sex marriage and elevate family and civil rights for LGBTQ+ individuals through amendments to the Thai Civil and Commercial Code (“CCC”), known as the “Marriage Equality Act” (the “Act”).

This development led to the submission of three proposed draft amendments to the CCC for consideration by parliament. One proposal came from the current government, another from the opposition party, and the third from over 10,000 eligible Thai voters, in accordance with the legislative procedure stipulated by the Thai Constitution B.E. 2560 (2017). The House of Representatives demonstrated its commitment to this cause by passing a resolution to accept the principles outlined in all three versions of the draft legislation during the 26th Session of the House of Representatives, 1st Year, 4th Meeting held on December 21, 2023.

The core objective of all three proposed draft legislations is to broaden the rights of LGBTQ+ individuals, enabling them to legally form families, exercise various family rights and responsibilities, and attain family status to each other. This encompasses key aspects such as engagement, marriage, spousal rights, parental rights, and inheritance rights, all of which would be equally recognized under the law for LGBTQ+ couples as they are for heterosexual couples in the context of family formation.

Following the evaluation of all three versions of the legislation, the House of Representatives consolidated them into a single draft, which underwent review by the Extraordinary Committee in early 2024. As a result, the Marriage Equality Act received overwhelming approval during the 31st Session of the House of Representatives, 2nd Year, 2nd Meeting held on March 27, 2024. After this stage, as outlined by the Thai Constitution, the Marriage Equality Act will then require approval from the Senate and securing endorsement from the King before the Act can become reality in Thailand. This legislative procedure is expected to conclude within Q3 of 2024.

The Marriage Equality Act represents a fundamental change in the definition of marriage, transitioning from “a man and a woman” to “two individuals”, replacing the traditional legal status of “husband and wife” with the gender-neutral term “married couple”, and reforming the family status from “father and mother” to “primary parent”. The Act’s primary ambition is to ensure that LGBTQ+ couples are afforded the same fundamental rights as heterosexual couples currently enjoy under the CCC. These rights include the ability to adopt children, jointly manage marital properties, and, most importantly, inherit their spouse’s inheritance.

In light of these developments, attention now turns to the nearly finalized Act and its implications in the realm of real estate acquisition, especially for LGBTQ+ couples where one partner is a non-Thai national. Upon the Act’s endorsement and subsequent 120-day period after publication in the Royal Gazette, LGBTQ+ couples will become eligible to legally marry and obtain marriage certificates from any Thai district office, enjoying rights like those granted to heterosexual couples under the CCC. However, it is important to note that significant complications may arise or remain when a married couple, regardless of sexual orientation, seeks to acquire real property in Thailand.

Recently, the Senate officially approved and passed a law legalizing same-sex marriage. Essentially, this new law grants any two individuals above 18 years old the right to register their marriage and enjoy the same benefits and rights as heterosexual couples. Currently, the bill is awaiting formal endorsement from King Maha Vajiralongkorn and its publication in the Government Gazette, after which a date will be set for the law to take effect within 120 days.

Stay tuned for our next article, which will cover the rights specific to ownership of land and property. For any specific legal advice, please reach out to us at

Advancements in Thailand’s Marriage Equality Legislation of 2024 [please download]

Legal Developments in Thai Real Estate: Facilitating Foreign Ownership

On June 21, 2024, the Cabinet Secretary’s office introduced urgent economic measures aimed at revitalizing Thailand’s economy through the real estate sector. Central to these measures is a proposal to relax regulations governing foreign ownership of properties. This initiative comes in response to a letter from the Cabinet Secretary dated April 9, 2024, emphasizing the government’s commitment to stimulating economic growth via real estate development and positioning Thailand as a global industrial hub.

The Cabinet convened on June 18, 2024, where Deputy Prime Minister Phumtham Wechayachai proposed the implementation of resolutions outlined in the April 9 directive. The resolution calls upon relevant government agencies to explore measures conducive to macroeconomic stimulation and the attraction of substantial foreign investments. Deputy Prime Minister Phumtham emphasized the preliminary nature of the proposal, noting it was undergoing thorough governmental review and had not yet received final approval.

The Ministry of the Interior has been tasked with assessing the feasibility of two key measures:

  1. Extension of Property Rights: Reviewing provisions under the Property Rights Act of 2019 to potentially extend property leaseholds up to 99 years.
  1. Enhanced Foreign Ownership in Condominiums: Revising existing laws governing foreign ownership of condominiums to increase the permissible foreign ownership threshold from 49% to 75%. This adjustment may include conditions regulating the management and voting rights of foreign entities that exceed the current ownership cap.

Should these measures necessitate legislative amendments, the Ministry of the Interior is instructed to expedite the legal processes in strict accordance with existing laws, regulations, and governmental directives.

Following Cabinet review and approval of Deputy Prime Minister Phumtham’s proposal, the Ministry of the Interior is now mandated to initiate implementation of the approved measures. This signifies a pivotal step towards potentially liberalizing foreign investment in Thailand’s real estate sector, reflecting the government’s proactive stance in fostering economic growth through regulatory reform.

This legal update underscores the evolving landscape of real estate regulations in Thailand, highlighting significant implications for foreign investors and local stakeholders alike. However, the issue remains under ongoing discussion and has not yet been finalized. We encourage you to reach out to us at for any technical questions concerning this.

Legal Developments in Thai Real Estate: Facilitating Foreign Ownership [please download]

Thai Cabinet Approves Comprehensive Tax Measures to Revitalize Domestic Tourism

In a significant move towards enhancing the domestic tourism sector, the Cabinet has endorsed a series of tax measures tailored to ignite domestic tourism on June 4, 2024. These measures, meticulously crafted, are purposed to not only facilitate the sustained recovery of the Thai tourism industry but also to stimulate domestic tourism and fortify the domestic economy. The multifaceted approach of these measures encompasses two distinct components as follows.

Corporate Income Tax for Domestic Seminar and Training Events:

Under this tax measure, companies or juristic entities can subtract various costs for seminar rooms, lodging, transportation, and other expenses linked to seminars held within Thailand for their employees, or fees paid to tourism business operators. These eligible expenses, which deduct as taxable expense for corporate income tax, occur between May 1, 2024, and November 30, 2024. Following this measure requires providing electronic full-form tax invoices (e-Tax Invoice).

It is noteworthy that transportation fee disbursed to non-VAT registrants require electronic receipts (e-Receipt).

Tax benefits:

Expenses can be deducted up to twice the actual expenses incurred for seminars held in secondary tourist provinces or other tourist areas as prescribed by the Director-General of the Revenue Department. Alternatively, expenses can be deducted up to 1.5 times the actual expenses for seminars held in other provinces.

Personal Income Tax for Domestic Tourism Expenses:

Individual taxpayers can deduct service fees paid to tourism business operators or service fees for staying in hotels, homestays, or non-hotel accommodation during domestic travel in secondary tourist provinces. These expenses count as an allowance for personal income tax equal to an actual amount but not exceeding 15,000 Baht and apply during the Low Season, from May 1, 2024, to November 30, 2024. To get these deductions, they must provide electronic full-form tax invoices (e-Tax Invoice).

These meticulously crafted tax measures represent a concerted effort by the Thai government to resuscitate the ailing tourism sector, which has borne the brunt of the COVID-19 pandemic. By fostering domestic tourism during the Low Season, these measures not only aim to rejuvenate the tourism industry but also to bolster the domestic economy. As with any legal matter, it is advisable to seek professional advice before taking any actions. For further information or assistance, please feel free to contact us at

Thai Cabinet Approves Comprehensive Tax Measures to Revitalize Domestic Tourism [please download]

Consumer Protection: Laws and Regulations Governing Product Recall

This legal summary provides an overview of the laws and regulations governing product recalls in Thailand under the Consumer Protection Act, B.E. 2522 (1979). It aims to guide business operators on mandatory steps, recommended practices, and compliance requirements when conducting product recalls within Thailand.

This summary is designed to assist all business operators in Thailand, offering guidance on adhering to product safety standards and complying with consumer protection laws.

The Consumer Protection Act, B.E. 2522 [A.D. 1979]

The Consumer Protection Act mandates that goods intended for sale in Thailand must be safe. It outlines specific requirements that business operators must consider:

  • Goods must meet safety standards based on their characteristics, components, design, packaging, assembly instructions, and consumer expectations.
  • The presentation, labeling, warnings, and usage instructions must adequately address safety concerns.
  • Businesses must assess potential risks when goods are used in conjunction with other products and consider vulnerable consumer groups.
  • Compliance with universally accepted safety measures and best practices is required.

The Act prohibits business operators from manufacturing, ordering, or importing dangerous goods that could pose risks to life, health, or property, except for goods regulated by specific laws.

Measures for Label-Controlled Goods

For goods classified as “label-controlled” (goods manufactured or imported for sale), business operators have additional responsibilities:

  • They must continuously monitor the safety of these goods throughout the warranty period.
  • Implement appropriate safety measures to mitigate identified risks.
  • Establish effective channels for consumer notifications and maintain comprehensive records of these communications.

Duty to Notify the Public

Business operators are required to notify relevant parties promptly under certain circumstances:

  1. Voluntary Notification: Operators may notify relevant parties when they suspect their goods may be dangerous.
  2. Mandatory Notification: Notification becomes mandatory if the goods cause severe harm or danger, necessitating alerts to consumers, relevant authorities, and the Committee overseeing consumer protection.

Duty to Recall and Remedial Actions

Upon identifying risks associated with their products business operators must take immediate action, such as rectifying, modifying, replacing, or recalling the goods. They must promptly inform the Office of Consumer Protection about the issue and actions taken, providing specific details about the goods and the nature of the identified danger.

Proof of Safety and Committee’s Powers; The Committee established under the Act has the authority to:

  • Order testing of goods suspected to be dangerous and set deadlines for reporting test results.
  • Impose temporary sales prohibitions pending the verification of product safety.

Dangerous goods (the term) is defined as goods which causes or may cause danger to life, body, well-being, health, mental condition, or property, excluding goods which is already subject to specific laws.

In addition to testing and sales prohibitions, the Committee can:

  1. Lift sales prohibitions based on favorable test results.
  2. Prescribe further corrective actions if deemed necessary to mitigate risks posed by dangerous goods.
  3. Action after No-Sell Order

When a no-sell order is issued:

  • Business operators must promptly remove the goods from the market.
  • Notify consumers about the recall and the potential risks associated with the product.
  • Compensate affected parties for any losses incurred due to the recall.

Based on the provisions of the Act, affected companies operating in Thailand should immediately notify distributors, service providers, advertising agencies, consumers, and the Consumer Protection Board upon identifying a product defect. Additionally, they should initiate a recall process promptly and effectively communicate recall details to all relevant stakeholders. We also advise that they continue to maintain accurate records and comply with reporting requirements stipulated under the Act.

This summary offers comprehensive guidance on navigating the product recall process under Thai consumer protection laws. It underscores the importance of proactive compliance to ensure consumer safety and adherence to regulatory requirements in Thailand. As always, we highly suggest that you seek professional legal assistance and encourage you to reach out to us at

Consumer Protection: Laws and Regulations Governing Product Recall [please download]

Summary of Changes to Countries and Territories Entitled for Visa Exemption and Visa on Arrival to Thailand

In accordance with the regulations governing visa policies and international agreements, notable modifications have been made regarding exemptions and visa-on-arrival privileges for various nationalities, from May 9, 2024. The following adjustments are to be duly noted:


Indian Passport Holders:

Effective from May 11, 2024, to November 11, 2024, Indian passport holders are eligible to enter Thailand without a visa for a period of stay not exceeding 30 days.


Kazakhstan Passport Holders:

From March 1, 2024, to August 31, 2024, individuals holding Kazakhstan passports may enter Thailand without the requirement of a visa for a period of stay not exceeding 30 days.


Taiwan Passport Holders:

Commencing from May 11, 2024, to November 11, 2024, holders of Taiwanese passports can enter Thailand without a visa for a period of stay not exceeding 30 days.


Tourist Visa Exemption Scheme:

Passport holders from Brazil, Korea (Republic of Korea), and Peru are entitled to the tourist visa exemption scheme upon entry into Thailand.


Bilateral Agreements:

Thailand has entered into bilateral agreements with Brazil, Korea (ROK), and Peru, allowing holders of diplomatic, official, and ordinary passports to avail visa exemption for visits not exceeding 90 days.


Vietnam and Hong Kong Passport Holders:

Under the tourist visa exemption scheme, passport holders from Vietnam and Hong Kong are entitled to enter Thailand without a visa.


Bilateral Agreements with Vietnam and Hong Kong:

Bilateral agreements with Vietnam and Hong Kong enable holders of diplomatic, official, and ordinary passports to enjoy visa exemption for visits not exceeding 30 days.


Russian Passport Holders:

As of May 1, 2024, until October 31, 2024, individuals holding Russian passports can stay in Thailand without the necessity of obtaining a visa for a period of stay not exceeding 60 days.


Myanmarese Passport Holders:

Through bilateral agreements, Myanmarese passport holders are permitted to enter Thailand for a duration of 14 days without obtaining a visa. However, it is imperative to note that entry must be facilitated through an international airport.


Bangladeshi and Pakistani Passport Holders:

Holders of diplomatic passports from Bangladesh and Pakistan are entitled to a visa-free stay of up to 30 days in Thailand.


Greek and Spanish Diplomatic Passport Holders:

Diplomatic passport holders from Greece and Spain are granted entry and permission to stay in Thailand for a period of 90 days without the need for a visa.


These amendments to the visa policies of Thailand are implemented in accordance with the prevailing laws and regulations and are subject to periodic review and adjustment as deemed necessary by the competent authorities. Any queries or concerns regarding these modifications should be directed to the appropriate governmental agencies responsible for immigration and visa affairs.


As always, it is recommended to seek professional legal advice regarding this issue. Please do not hesitate to reach out to and we will connect you with one of our immigration specialists.

Summary of Changes to Countries and Territories Entitled for Visa Exemption and Visa on Arrival to Thailand [please download]

Unlocking Innovation: Expedite Your Thai Patent Approval for Competitive Advantage

Innovation is the fundamental pillar of achievement in the rapidly evolving business landscape. It is essential for both emerging entrepreneurs and established industry players to safeguard their intellectual property to sustain a competitive advantage. However, the patent application process in Thailand, like many other countries, involves a variety of examination and review phases. Although its purpose is to verify the validity and integrity of patents, this procedure can be lengthy and cumbersome. Time is unfortunately of the essence in the fast-paced business environment of today. Delayed patent approvals may result in missed opportunities, thereby enabling competitors to seize advantages of similar ideas or technologies. The examination and issuance of a Thai patent typically take up to ten years, commencing from the date of filing until the patent is finally granted. The Department of Intellectual Property Thailand (DIP) received around 13,000 patent applications by 2022, comprising both domestic and foreign submissions. This volume of applications results in a backlog of patent applications that are yet to be examined in Thailand.

Fortunately, there are ways to expedite the examination and grant of a Thai patent, allowing inventors to enjoy the benefits of their invention sooner. In this article, we will explore the steps to expedite the patent application process in Thailand.

In order to expedite the examination and issuance of a Thai patent, applicants may utilize a variety of mechanisms and strategies. Steps for expediting the approval of a Thai patent are as follows:

1.  Submitting a letter requesting for expedited examination of a patent application directly to the DIP

Directly addressing the DIP with a letter requesting for expedited examination of a patent application speeds up the approval process in a straightforward and direct manner. By employing this approach, applicants can formally convey their desire for expedited evaluation and furnish rationales for why their application merits priority review.

2.  Adjustment of the existing Thai specification and claims to align with the corresponding foreign patent

Applicants may submit copies of letters patent, search reports, and substantive examination reports from corresponding foreign patents (e.g., those from the United States, European Patent Organization, United Kingdom, Australia, Japan, and China) to expedite a Thai patent application. This procedure entails adjusting the existing specifications and claims of the Thai patent to align with the chosen foreign jurisdictions. Applicants can utilize the examination results and legal standards that have already been established in these nations to expedite the approval process in Thailand. Implementing this approach not only expedites the evaluation procedure but also improves the likelihood of obtaining patent approval by ensuring compliance with internationally recognized patent standards

3.  Requesting for the external examination with Thai Patent Office

Applicants may request an accelerated examination procedure from external entities, such as the Australian Patent Office, specialized agencies, or agreed Thai University for a novelty search at the applicant’s expense. This method may expedite the issuance of exclusive rights to an invention beyond the timeframe permitted by standard procedure. In order to justify the acceleration, the request typically involves providing compelling reasons, such as impending commercialization or potential market competition. Furthermore, it may be necessary for the petitioner to furnish extensive documentation and evidence that substantiates the invention’s novelty and inventiveness. Upon approval, the external examination process proceeds swiftly, potentially reducing the time typically required for patent approval and enabling the inventor to bring their innovation to market more quickly.

4.  Patent Acceleration Programs

Patent acceleration programs are strategic endeavors implemented by patent offices and affiliated organizations with the aim of accelerating the examination of patent applications. The primary objectives of these programs are to promote innovation, reduce redundancy, improve the efficacy of the patent system, and decrease the backlog of pending patent applications.

i)  ASEAN Patent Examination Cooperation (ASPEC)

The ASPEC program was launched on 15 June 2009. The ASPEC is the first regional patent work-sharing initiative comprised of the IP Offices of nine ASEAN Member States (AMS): Vietnam, Brunei, Cambodia, Indonesia, Lao, Malaysia, Philippines, Singapore, and Thailand.

This program aims to facilitate the expeditious and more efficient acquisition of corresponding patents by applicants residing in participating countries by exchanging search and examination results among participating offices. By eliminating redundant tasks during the search and examination process, the program has the potential to reduce work and accelerate turnaround time.

Request for the ASPEC program is provided with no cost to the applicant. However, local search and examination fees will continue to apply at the AMS IP office.

As of 27 August 2019, two initiatives under the ASPEC have been introduced:

a) ASPEC Acceleration for Industry 4.0 Infrastructure and Manufacturing (ASPEC-AIM)

This initiative operates within the framework of the ASPEC program. Its primary objective is to facilitate the advancement of Industry 4.0 technologies in the ASEAN region by prioritizing Industry 4.0 patent applications. These encompass progressions in sectors such as hardware, software and connectivity. The ASPEC-AIM endeavors to accelerate the commercialization of groundbreaking Industry 4.0 solutions and foster economic expansion in the ASEAN region by supporting innovators to receive a patent more quickly and reduce Time to Market (TTM) with a committed turnaround time of 6 months to receive the first office action.

Application submitted under this program will be evaluated based on search and examination results report issued by another participating AMS IP Office on the corresponding application. This program has a capacity of 50 applicants per year.

b) Patent Cooperation Treaty-ASEAN Patent Examination Cooperation (PCT-ASPEC)

This collaborative program between the World Intellectual Property Organization (WIPO) and AMS has combined the benefits of the PCT and the ASPEC program.

Under the PCT-ASPEC program, patent applicants may register a single international patent application through the PCT system. The application will be evaluated by using a PCT reports/written opinions established by ASEAN International Searching Authority or International Preliminary Examination Authority (ISA/IPEA). These reports subsequently facilitate the examination process in other AMS IP offices. Through the utilization of the ASPEC program’s collaboration among ASEAN patent offices and the PCT system’s international filing process, the PCT-ASPEC framework serves to optimize operations, diminish administrative obstacles, and elevate the standard of patent evaluation throughout the ASEAN area. This platform offers a streamlined and economical method for enterprises and inventors to pursue patent protection in numerous ASEAN nations, thus promoting economic expansion and facilitating innovation in the area. The program has a capacity of up to 100 applications per year.

Both programs have been extended for an additional 2-3 years until 26 August 2025.

ii) JPO-DIP Patent Prosecution Highway (PPH)

The JPO-DIP PPH is the cooperation program between the DIP and the Japanese Patent Office (JPO) to speed up the patent application by requesting urgent patent inspection.

The objective of the PPH Pilot Program is to optimize the efficacy of patent applicants in both nations and streamline the patent examination procedure. Patent applicants who receive a patent inspection result of the first patent office (DIP/JPO) are eligible to request expedited examination of their corresponding patent applications submitted at the second patent office (DIP/JPO). This enables applicants to potentially accelerate the overall patent grant process by using examination results obtained in one jurisdiction to streamline the examination process in the other. As a result, duplication of efforts is reduced. The PPH program promotes international cooperation in the preservation of intellectual property rights while enhancing the quality and efficiency of patent examination through the facilitation of information exchange and the utilization of each other’s examination results. The pilot program functions as a significant mechanism for enhancing the bilateral relationship between Japan and Thailand with regards to intellectual property, while also promoting economic growth and innovation in both nations.

PPH program is projected to end in December 31, 2025 with possible extension.

iii)  Target Patent Fast-Track

In order to address burgeoning public health and food security concerns that have reached unprecedented magnitudes, the DIP has launched Target Patent Fast-Track: Medical Sciences, Public Health since 2022, and newly added Target Patent Fast-Track: Future Food since 2024. This fast-track program aims to expedites patent and petty patent application relating to Medical Sciences, Public Health and Future Food. Applications will be selected by the DIP for the participation in the program. Selected application will receive urgent patent examination and announce the results within 12 months for patent and 6 months for petty patent after the commencement date of participation in the program.

In conclusion, the examination and issuance of a Thai patent can be accelerated in a number of ways, including by utilizing the results of foreign examinations, submitting convincing justifications, and participating in patent acceleration programs. By exploring these alternatives and maneuvering the patent application process strategically, applicants can expedite the endorsement of their patents and gain a competitive advantage in the market.

This article was authored by Mr. Panudeth Juengwiwattanakitti, a Patent Specialist at ILCT. For specific legal advice on this matter, please contact us at

Unlocking Innovation: Expedite Your Thai Patent Approval for Competitive Advantage [please download]

Cabinet-Approved Personal Income Tax Measures for Investment Tokens

On March 12, 2024, the Cabinet made significant strides in fiscal policy by endorsing tax measures designed to stimulate fundraising activities utilizing digital tokens for investment purposes, termed Investment Tokens. This legal article provides a comprehensive examination of the ratified tax measures, elucidating their ramifications and objectives within the framework of nurturing the digital economy in consonance with governmental directives.

The individual investors who receive share of profits (dividend) or any benefits of a similar nature from holding or possessing investment tokens may elect to pay personal income tax at the rate of 15% equal to withholding tax amount, instead of including the share of profits (dividend) or any benefits for personal income tax calculation and paying tax at progressive rates up to 35% of the net income, provided the investors do not claim for a refund or use withholding tax amount as a tax credit, whether in wholly or partially.

These tax measures become enforceable from January 1, 2024, onwards, symbolizing their immediate applicability in the fiscal landscape.

In conclusion, the Cabinet’s endorsement of tax measures on March 12, 2024, signifies a seminal progression towards nurturing the growth and maturation of the digital economy within the nation. By incentivizing investment through digital tokens and aligning oversight standards akin to those governing securities, the government underscores its commitment to harnessing technology for economic advancement. The delineated tax benefits serve to incentivize individual participation in tokenized investment ventures while ensuring compliance with pertinent tax statutes. Overall, these measures epitomize the government’s proactive stance towards promoting and cultivating the digital economy, positioning the nation for sustained prosperity and innovation in the digital age.

As always, it is recommended that you seek professional legal advice regarding this matter to ensure accurate information. Please contact for more information concerning this.

Cabinet-Approved Personal Income Tax Measures for Investment Tokens [please download]

Empowering the Future: Cabinet Extends Tax Relief Measures for Digital Assets Trading

Empowering the Future: Cabinet Extends Tax Relief Measures for Digital Assets Trading

In a notable development on February 6, 2024, the Cabinet announced its resolution to extend tax relief measures for digital asset trading, providing a lifeline for individuals and juristic entities involved in the realm of cryptocurrencies (“Cryptos”) and utility tokens. The Value Added Tax (VAT) exemption for transfers of Cryptos and utility tokens has been extended from December 2023 to January 1, 2024, onwards.

“Cryptocurrency” means an electronic data unit built on an electronic system or network created for the purpose of being a medium of exchange for the acquisition of goods, services, or other rights, including the exchange between Digital Assets. “Digital Tokens” consist of:

  • “Investment Token” means an electronic data unit created on an electronic system or network which is issued for the purpose of specifying the right of a person to participate in an investment in any project or business.
  • “Utility Tokens” means an electronic data unit created on an electronic system or network which is issued for the purpose of specifying the right of a person to acquire specific goods, specific service, or any specific other right under an agreement between the issuer and the holder, and shall include any other electronic data units of right as specified in the notification of the Securities and Exchange Commission.

VAT exemption for individuals and juristic entities on Transfers of Cryptos and Utility Tokens:

  1. Transfer Crypto or Utility Tokens traded on the Digital Asset Exchange under the Digital Assets Business Law
  2. Transfer Cryptos or Utility Tokens traded through Digital Asset brokers under the Digital Assets Business Law
  3. Transfer Cryptos or Utility Tokens to Digital Asset Dealers (“Buyers”) under the Digital Assets Business Law
  4. Transfer Cryptos or Utility Tokens by Digital Asset Dealers (“Sellers”) under the Digital Assets Business Law.

The Cabinet’s decision to extend tax relief measures for Cryptos and Utility Token trading signifies a strategic move to bolster the burgeoning Digital Assets market. By providing VAT exemptions for a range of transactions, the government aims to stimulate growth, encourage innovation, and create a favorable environment for both individuals and juristic entities.

It’s important to note that transfers of investment tokens in the primary market and secondary market have been exempt from VAT since May 14, 2018, under Royal Decree No. 779.

As with all legal related matters, it is advised that you consult a professional legal advisor for expert opinion. Please reach out to us at

Empowering the Future: Cabinet Extends Tax Relief Measures for Digital Assets Trading [please download][

SEC Enhances Digital Asset Regulations to Promote Growth and Protect Investors

On March 2, 2023, the Securities and Exchange Commission (SEC) of Thailand took a significant step forward by approving amendments to the regulatory framework governing digital assets during its Board Meeting No. 5/2566. These amendments, which update regulations for the initial coin offering (ICO) of investment tokens, digital asset custodial wallet providers, and other digital asset business operations, came into effect on January 16, 2024. Aimed at strengthening oversight mechanisms, enhancing investor protection, and encouraging the use of digital technology in fundraising, these changes mark a pivotal development in Thailand’s approach to national development and the digital economy.

Purpose Behind the Amendments:

The SEC’s regulatory adjustments aim to strike a balance between the potential of technological innovation in the capital market and the necessity of investor protection amid the rapidly evolving landscape of digital assets. By addressing the distinct risks linked to digital assets, the SEC aims to promote responsible innovation and the utilization of digital technology for fundraising purposes.

Public Engagement and Notifications:

In line with the board’s resolution, the SEC conducted public hearings in September 2023, seeking feedback on the proposed amendments. The substantial support from respondents highlights a widespread consensus within the community on the need for balanced and effective digital asset regulation.

Following this engagement, the SEC issued two crucial notifications, effective from January 16, 2024, to implement these amendments:

  • Notification No. Kor Jor. 2/2567 Re: Public Offering of Digital Tokens (No. 9) dated January 2, 2024, outlines the updated framework for the public offering of digital tokens, broadening investment opportunities by relaxing the restrictions on investment amounts for retail investors
  • Notification No. Kor Thor. 1/2567 Re: Rules, Conditions, and Procedures for Undertaking of Digital Asset Businesses (No. 21) dated January 2, 2024, sets out comprehensive regulations for digital asset business operations, including requirements for ancillary business activities, governance to prevent conflicts of interest, and criteria for digital asset custodial services.

Key Amendments:

  1. Revocation of Investment Limits: The SEC has lifted the investment cap for retail investors in real-estate backed ICOs and infra-backed ICOs, previously capped at 300,000 baht per individual. This change aligns investment opportunities with product risks and promotes the use of digital technology in fundraising.
  2. Support for Digital Asset Custodial Wallet Providers: Regulation revisions to facilitate support for custodial wallet providers, enabling listed companies or subsidiaries with the necessary expertise, experience, and risk management capabilities to serve related digital asset business operators, provided they meet the SEC’s independence criteria.
  3. Regulation of Business Expansion: Digital asset business operators wishing to diversify their operations must now secure approval from the SEC. This requirement underscores the SEC’s commitment to maintaining close oversight of digital asset business activities.
  4. Service Standards Enhancement: The amendments prohibit digital asset business operators from offering services through illegal entities, aiming to uplift the overall quality and credibility of the digital asset market in Thailand.


The SEC’s recent regulatory amendments testify to Thailand’s dedication to cultivating an environment that fosters innovation in digital assets while prioritizing investor protection. These changes, promoting a transparent and secure digital asset market, mark a substantial step towards sustainable growth in Thailand’s digital economy.

For additional inquiries on this topic, please contact us at

SEC Enhances Digital Asset Regulations to Promote Growth and Protect Investors [please download]

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