Real Estate Taxes are billed in January. The gross amount is due February 28th. A 2% discount can be taken if the taxes are paid in full by February 10th. Real Estate Taxes can also be paid in installments. The first installment is due by February 28th; the second is due by April 30th, and the third is due by July 31st. A 2% discount can be taken on the 1st installment if it is paid by February 10th. No discount is allowed on the 2nd or 3rd installments. Also, no discount is allowed on that part of a payment paid by February 10th that is more than the first installment but less than the full year’s taxes.

Those wishing to conduct business in Thailand are well advised to conduct research and due diligence into Thai business customs, practices, rules, and regulations. As in countries such as the United States of America, in the jurisdiction of the Kingdom of Thailand individuals may conduct business as a sole proprietorship. Meanwhile, some individuals or groups may prefer to conduct business as a partnership. In the Kingdom of Thailand, partnerships are authorized in the form of both registered and unregistered partnerships which could or could not be vested with limited liability protection. Limited partnerships are sometimes utilized by two or more foreign nationals doing business in Thailand.

Many of those who ultimately decide to do business in Thailand make the decision to conduct business under the auspices of a Thai Limited Company. A limited company in the Kingdom of Thailand, much like a Limited Liability Company (LLC) in the United States, the European Union, or the United Kingdom; can have limited liability which can be a significant benefit for business operators as costs arising from possible personal legal actions can be, at least somewhat, defrayed. Bearing this in mind, under most circumstances, a foreign national wishing to conduct business in Thailand is well advised to take notice of Thai regulations regarding foreign ownership of Thai corporations (often referred to as juristic persons in Thai jurisprudence).

Although most foreigners can not own more than 49% of a Thai company, there are exceptions to this general rule. The most notable of these exceptions is the US-Thai Treaty of Amity that allows Americans own almost 100% of a Thai limited company provided it receives the Treaty of Amity certified by the Thai government for activities that the company intends to participate in addition, the Council noted that Thai investments, sometimes colloquially known by the abbreviation: BOI. Foreign companies may be able to acquire BOI certification and thereby enjoy many benefits not generally accorded to foreign individuals or entities conducting business in Thailand.

Aside from limited companies, partnerships and sole proprietorships Thai law permits the operation of associations and foundations. However, both of these types of juristic persons have somewhat limited business usage as they are generally only utilized by philanthropic or non-profit organizations. Those who want to conduct business in Thailand should also note that the Thai Labor regulations provide that an alien must be permitted to work in Thailand legally lose their jobs within their jurisdiction. Failure to obtain a work permit could lead to fines or even criminal sanctions.