If you conduct any business either locally or internationally, then it’s important to know the basic laws and regulations that you must abide by. It’s also important that should you need to appoint a law firm, you deal with a firm that has bilingual legal experts. The dangers of not doing so could be the make or break of your case.
Why Is It Important To Know The Basic Laws & Regulations?
Quite simply, and with all due respect, if you’ve ever been to Thailand then you should know that nothing ever tends to be ‘straightforward’. You will have either been in situations or will come to experience situations in your everyday life whereby you think you are making progress with something, only to end up back at square one, or not getting what you require.
In a business that could be very costly, you could be spending more both in terms of time and resources if you don’t use the international law firms Bangkok, Thailand has. The time and resources could be better spent or placed elsewhere. The most basic law or regulation that anybody should know is, that if you want to run a business from within Thailand, the company must be mostly Thai-owned. That means that you can only really own up to 49% of the business, with the rest being owned by, and the responsibility of Thai nationals.
If the majority of your business is owned by foreign nationals or anybody that is not of official Thai nationality, then you are not permitted to operate your business from within Thailand. That’s not to say that you still can’t conduct business with Thailand, you just have to do so from another country.
Why Is Having A Bilingual Law Firm On Your Side So Important?
Going back to things never quite being straightforward, part of the equation may be cultural, whereas most of the time it’s through not knowing enough, most importantly, the language. That’s not only the local language either. Bear in mind how close Thailand is to China and that most of the world’s trade is done either with or from within China; it’s pretty important that your law firm is fluent in both Thai and Chinese.
You may think that just speaking English is enough too because most of the world speaks English. Not in the case of Thailand, however. In fact, surveys done across all of the ASEAN region compiling of around 60 countries within Asia ranked Thailand as 56th when it comes to English language skills, and 13th in the world by other studies. People will nod in agreement, either because they don’t understand but don’t want to appear uneducated, or they may just agree anyway, so not to be confrontational, which is a big thing in Thailand.
Your Best Bet
The trouble is, if you can’t speak the most commonly spoken languages in Thailand, and you don’t know Thai business or education laws inside and out, then you’ll get nowhere. Worse still, you could just end up going round and round in circles, especially if you think there is an acceptance of terms, when in actual fact the other party might be thinking the complete opposite.
The simple thing to do would be to appoint an international, bilingual law firm that operates from within Thailand.