Announcement on New Regulations for Offering and Trading of Digital Assets

Announcement on New Regulations for Offering and Trading of Digital Assets

News & Articles , , ,

Announced earlier this month, the Thai Securities and Exchange Commission (“SEC”) has implemented two new regulations regarding the offering and trading of digital assets (i.e. digital tokens). The detail of this announcement is explained below.

1). Restricted Digital Tokens

Digital Asset Exchange shall not offer or trade the following digital tokens:

  1. Meme token (meme coin) means any digital tokens without any real collateral or value supporting it. The value of a meme coin mostly depends on social media or internet trends. In a sense, meme coin is considered an internet’s joke that is popular and eventually became a meme coin available for trading.
  2. Fan token means any digital tokens that represent a personal preference toward a specific individual, club, or group. Generally, a fan token awards the owner with exclusive rights to a specific individual, club, or group. This could be in a form of voting rights, VIP experiences, or exclusive merchandise from the said individual, club, or group.
  3. Non-fungible token (NFT) is a unique digital token that cannot be traded with any other tokens. NFT generally represents an exclusive right to a certain piece of digital art or music (e.g. Beeple or ShadyCon). It can be said that NFT is a new form of collectible, in this case, a “digital collectible”.
  4. Any digital tokens to be utilized in a blockchain transaction issued by the Digital Asset Exchange itself, or any individuals or entities that may have a connection to the Digital Asset Exchange, include the following:
    1. Members of the Board of Directors, CEO, or any persons with the authority to manage the business;
    2. Spouse or any persons that can be considered as being in a relationship with those mentioned in (A);
    3. Any legal entities that have the authority to manage the business of those mentioned in (A);
    4. Any head offices, subsidiaries, or affiliates of the Digital Asset Exchange.

2). Special Exemption

Any persons or entities as listed in (4) shall be eligible for a special exemption on offer or trade of a digital token provided that they strictly follow the rules and regulations as set forth within the whitepaper.

This announcement shall take effect from June 11, 2021.

Should you require further assistance, please contact us at: law@ilct.co.th.

 

 

Thailand: Postponement of Personal Data Protection Act (PDPA) Enforcement

Thailand: Postponement of Personal Data Protection Act (PDPA) Enforcement

News & Articles , ,

Effective on May 9, 2021, the Royal Thai Government Gazette has published the official postponement of the enforcement of Thailand Personal Data Protection Act B.E. 2562 (2019) (PDPA) to June 1, 2022.

Thailand’s PDPA was originally scheduled to come into effect on June 1, 2021. The PDPA is considered as the first local law designed to govern data protection in the digital age. It is comparable to the European General Data Protection Regulation (GDRP). Key aspects of the PDPA include: data processing, data collection, data storage, and data consent protocols.

The PDPA has created multiple challenges for both local businesses and foreign businesses alike. Seeing the enforcement challenges with the ongoing COVID-19 crisis, the PDPA has been postponed for one additional year.

With this being said, businesses are still required to comply with the Data Protection Standard as prescribed by MDES. The standard includes such regulations as:

  • Implementation of adequate data access and storage protocols;
  • Assignment of user access management and responsibilities to prevent unauthorized access;
  • Implementation of data logs including data deletion log, data transfer log, and data amendment log.

In conclusion, businesses are given one additional year to implement adequate data protection protocols. As such, it is encouraged that proper understanding and preparation be made ready before the PDPA comes into full effect on June 1, 2022.

As this is not an official announcement in the Royal Thai Government Gazette at this time, we will keep you posted on the development as the information becomes available. Should you require further assistance please contact: law@ilct.co.th.

Download PDF version hereDownload

Thailand: First Action Fast Track Trademark Filing System

Thailand: First Action Fast Track Trademark Filing System

News & Articles , ,

Announced on April 5, 2021, Thailand Department of Intellectual Property (DIP) has implemented a “First Action Fast Track” trademark filing system. The new system aims to elevate local trademark filing service, as well as, facilitating convenience and rapid trademark filing in the modern world.

First Action Fast Track system expedites the Trademark Registrar to issue the first office action within 6 months from the filing date at no extra official fees. To be eligible, the applicant must comply with the following requirements:

  1. The applied goods or services must not exceed 10 items;
  2. The description of goods or services must comply with DIP’s standard trademark goods/services list (see: DIP List);
  3. Any amendment, recordal of trademark assignment or inheritance, or request to prove acquired distinctiveness through use shall not be made on or after filing.
  4. The trademark application must be filed at DIP, authorized governmental offices, via registered mail, or DIP’s e-Filing system.

Those wishing to take advantage of the First Action Fast Track trademark filing system must comply with the above requirements to be eligible. Overall, this is good news for trademark applicants that are looking to quickly acquire trademark protection in Thailand.

If you need further assistance, please contact: ipgroup@ilct.co.th.

Download PDF version hereDownload

Thailand: Patents – Deadline Extension

Thailand: Patents – Deadline Extension

News & Articles , , ,

Due to recent local COVID-19 outbreak and the implemented public health countermeasures, Thailand Department of Intellectual Property (DIP) has announced an extension for office action response and document submission for: Patent for Invention, Petty Patent and Design Patent.

This announcement became effective on April 16, 2021. The detail of this announcement is summarized below.

  1. New Extension Date: Any deadlines for office action response or document submission as requested by the examiner that originally fall between April 16 – May 31, 2021 will be automatically deferred to May 31, 2021.
  2. New Response/Submission Date: Applicants with the response or submission deadline as mentioned in (1) may also provide office action response or submit the required document within June 1 – 30, 2021.

Any applicants that do not wish to take advantage of this extension may still submit the office action response or submit the required document as per the original deadline.

In conclusion, applicants that are eligible as stipulated in (1) will now have until June 30, 2021 to respond to office action or submit the required document. If you need further assistance, please contact: ipgroup@ilct.co.th.

Download full article hereDownload

Additional Conditions for Entering the Kingdom, Visa Regulations & Extension-of-Stay

Additional Conditions for Entering the Kingdom, Visa Regulations & Extension-of-Stay

News & Articles , , ,

 

1). Additional Conditions for Allowing Aircraft to Fly in and out of Thailand

On August 3, 2020, The Civil Aviation Authority of Thailand (“CAAT”) had made an additional announcement regarding Conditions for Allowing Aircraft to Fly in and out of Thailand (No.3). The new announcement includes new category of persons that will be allowed to enter Thailand, these include the following:

  • Aliens with Thai residence certificate, including their spouse and children;
  • Non-Thai nationals with a work permit, including their spouse and children;
  • Foreign workers whose employers or agents were granted permission by the Thai government to bring foreign workers to temporarily work and stay in Thailand;
  • Non-Thai nationals under a special arrangement between the Thai government and foreign countries;
  • Special individuals or groups under the recommendation of the ad hoc committee and approved by the Prime Minister.

Nonetheless, all persons entering Thailand must still comply with COVID-19 Public Health Countermeasure’s Regulations and shall be subject to a 14-day state required quarantine or alternative state quarantine (ASQ) at their own expenses.

2). Visa Regulations & Extension-of-Stay

The Thai Immigration Bureau had also made an announcement regarding Thailand’s visa regulations and condition for extension-of-stay for visa holders during COVID-19 Public Health Countermeasure, they are as listed below.

A). For Short-Term Visa

This includes Tourist Visa (TR), Transit Visa (TS), Visa-on-Arrival (VOA) and those with Visa exemptions. Those holding the visa types as listed must prepare to depart Thailand no later than September 26, 2020. With this being said, those with the following reasons will be eligible to apply for a 30-day extension-of-stay per permission:

  • Those suffering from illnesses – A valid medical certificate must be provided to a local immigration office;
  • Other reasons such as: no available departing flights or destination country undergoing outbreak restriction/containment protocol – A letter of confirmation from an embassy or consulate must be provided to a local immigration office.

B). For Long-Term Visa

Holders of long-term visa must submit an application for visa extension in accordance to their respective visa types. The application for visa extension may be submitted from now until September 26, 2020 (last day). The extension will be effective from September 27, 2020 onwards.

C). Notification of Residence

House owners, heads of household, landlords or managers of hotels (e.g. Airbnb, B&B and hostel) that accommodate foreign nationals on a temporary basis must notify the local immigration authorities within 24 hours from the time of arrival of the foreign national.

Moreover, any foreign nationals who have been granted the temporary permission to stay in Thailand on long term non-immigrant visa must notify his/her residence to the immigration officer every 90 days. Foreign nationals under this category with a notification deadline falling between March 26, 2020 – July 31, 2020 must notify the immigration officer no later than August 31, 2020.

 

Download full articleDownload

Thailand Signboard Tax

Thailand Signboard Tax

News & Articles , ,

 

Thailand Signboard Tax Act B.E. 2510 (1967) (“STA”) stipulated that any signboard/signage (“Signboard”) for advertisement purposes (i.e. signage displaying name, brand or trademark) shall be subjected to tax collection.  Under the STA, Signboard owner is responsible for paying the tax. However, if the owner cannot be identified for any reasons, the tenant or the land/building owner where the signboard is located shall be responsible for the said tax payment.

With this being said, signage located on product, packaging, human or animal are exempted. Signboard displayed on a private property and not exceeding the allowed size is exempted. Additionally, Signboard belonging to governmental authorities, temples and charitable foundations are also exempted from the tax payment under the STA.

In July 2020, the Thai cabinet has approved an amendment to the Ministerial Regulations No. 5 (B.E. 2535) (1992) further adjusting the Signboard tax rate.  Moreover, the new amendment also includes a tax collection scheme for mechanical sign, moving text sign and electronic sign (“Animated Signboard”) that advertise more than one images within a one-minute timeframe. The new tax rate will become effective on January 1, 2021 and shall continue till December 31, 2023. The new rates are as stipulated below.

1). Long-term Signboard (Annual Tax Payment)

Long-term Signboard means any signboard/signage displaying text, symbol or picture for longer than 12 months (excluding Animated Signboard), Signboard in this category will be subjected to annual tax payment as follows:

  • Signboard with Thai language only – THB 5 per 500 cm²
  • Signboard with a combination of Thai/foreign languages and/or pictures/markings – THB 26 per 500 cm²
  • Non-Thai Signboard – THB 50 per 500 cm²
  • Foreign language Signboard with Thai located below the foreign language portion – THB 40 per 500 cm²

2). Short-term Signboard (One-time Tax Payment)

Short-term Signboard means any signboard/signage displaying text, symbol or picture for less than 12 months (including Animated Signboard), Signboard in this category will be subjected to a one-time tax payment as follows:

  • Signboard displayed for less than 3 months – THB 1,010 per 1 m²
  • Signboard displayed for no less than 3 months but not exceeding 6 months – THB 1,020 per 1 m²
  • Signboard displayed for no less than 6 months but not exceeding 9 months – THB 1,030 per 1 m²
  • Signboard displayed for more than 9 months – THB 1,040 per 1 m²
  • Any Signboard with a tax valuation under THB 1,010 shall pay a fixed rate of THB 1,010 per sign

Signboard owner or tenant are obligated to pay the tax within March of every year. In the event of new installation or modification of the Signboard, the owner/tenant is obligated to file a tax return within 15 days from the completion of the new Signboard. Failure to comply with the STA or pay the stipulated Signboard tax may be fined, imprisoned or both. Overall, owner or tenant are encouraged to comply with the STA to avoid any unnecessary punishments.

 

Download PDF versionDownload

มาตรฐานการรักษาความมั่นคงปลอดภัยของการประชุมผ่านสื่ออิเล็กทรอนิกส์

มาตรฐานการรักษาความมั่นคงปลอดภัยของการประชุมผ่านสื่ออิเล็กทรอนิกส์

News & Articles , ,

สืบเนื่องจากการที่พระราชกำหนดว่าด้วยการประชุมผ่านสื่ออิเล็กทรอนิกส์ พ.ศ. 2563 ซึ่งถูกประกาศใช้ตั้งแต่วันที่ 19 เมษายน 2563 เป็นต้นมา ได้กำหนดให้การประชุมผ่านสื่ออิเล็กทรอนิกส์ต้องเป็นไปตามมาตรฐานการรักษาความมั่นคงปลอดภัยที่กระทรวงดิจิทัลเพื่อเศรษฐกิจและสังคมกำหนด

ด้วยเหตุนี้ กระทรวงดิจิทัลเพื่อเศรษฐกิจและสังคมจึงได้ออกประกาศเรื่อง มาตรฐานการรักษาความมั่นคงปลอดภัยของการประชุมผ่านสื่ออิเล็กทรอนิกส์ พ.ศ. 2563 โดยให้มีผลบังคับใช้ตั้งแต่วันที่ 27 พฤษภาคม 2563 เป็นต้นไป สาระสำคัญของประกาศดังกล่าวสามารถสรุปได้ดังนี้

ในการประชุมผ่านสื่ออิเล็กทรอนิกส์ ผู้มีหน้าที่จัดการประชุมต้องจัดให้มีกระบวนการดังต่อไปนี้เป็นอย่างน้อย

  • การแสดงตนของผู้ร่วมประชุมผ่านสื่ออิเล็กทรอนิกส์ก่อนการประชุมจะต้องมีความมั่นคงและรัดกุมตามความเหมาะสมกับการประชุม
  • การสื่อสารหรือมีปฏิสัมพันธ์กันได้ด้วยเสียง หรือทั้งเสียงและภาพ จะต้องเชื่อมโยงผู้ร่วมประชุมที่มิได้อยู่ในสถานที่เดียวกันให้สามารถประชุมปรึกษาหารือและแสดงความคิดเห็นระหว่างกันได้ผ่านสื่ออิเล็กทรอนิกส์ได้ในเวลาเดียวกัน
  • ผู้มีหน้าที่จัดการประชุมต้องจัดส่งเอกสารประกอบการประชุมของผู้ร่วมประชุมให้ให้แก่ผู้ร่วมประชุมก่อนหรือในระหว่างประชุม
  • การลงคะแนนของผู้ร่วมประชุมต้องเป็นไปตามวิธีการที่กำหนดในประกาศนี้
  • การจัดเก็บข้อมูลหรือหลักฐานที่เกี่ยวข้องกับการประชุมผ่านสื่ออิเล็กทรอนิกส์ ซึ่งรวมถึงการบันทึกเสียง หรือทั้งเสียงและภาพของผู้ร่วมประชุมทุกคนตลอดระยะเวลาที่มีการประชุม (เว้นแต่เป็นการประชุมลับ) จะต้องถูกบันทึกในรูปข้อมูลอิเล็กทรอนิกส์และเก็บรักษาด้วยวิธีการที่มีความมั่นคงปลอดภัยและด้วยวิธีการที่เชื่อถือได้
  • การจัดเก็บข้อมูลจราจรอิเล็กทรอนิกส์ของผู้ร่วมประชุมทุกคนไว้เป็นหลักฐานจะต้องเป็นไปตามวิธีการที่ประกาศฉบับนี้กำหนด
  • การแจ้งเหตุขัดข้องในระหว่างการประชุม ให้ผู้มีหน้าที่จัดการประชุมจัดเตรียมช่องทางการแจ้งเหตุขัดข้อง เพื่อรองรับการแก้ไขเหตุขัดข้องที่เกิดขึ้นในระหว่างการประชุม

นอกจากกระบวนการข้างต้นแล้ว การประชุมผ่านสื่ออิเล็กทรอนิกส์จะต้องมีมาตรฐานการรักษาความมั่นคงปลอดภัยด้านสารสนเทศในเรื่องดังนี้เป็นอย่างน้อย

  • การรักษาความลับ (confidentiality)
  • การรักษาความครบถ้วน (integrity)
  • การรักษาสภาพพร้อมใช้งาน (availability)
  • การรักษาความเป็นส่วนตัวและการคุ้มครองข้อมูลส่วนบุคคล
  • คุณสมบัติอื่น ๆ ได้แก่ ความถูกต้องแท้จริง (authenticity) ความรับผิด (accountability) การห้ามปฏิเสธความรับผิด (non-repudiation) และความน่าเชื่อถือ (reliability) ของข้อมูลอิเล็กทรอนิกส์ที่เกี่ยวข้องหรือเกิดจากการประชุม

ในกรณีที่เป็นการประชุมในเรื่องลับ ประกาศฉบับนี้ยังได้กำหนดมาตรการรักษาความมั่นคงปลอดภัยเพิ่มเติมเพื่อป้องกันมิให้บุคคลที่ไม่มีสิทธิร่วมประชุมรู้หรือล่วงรู้ถึงข้อมูลเกี่ยวกับการประชุมอีกด้วย

นอกจากมาตรการที่สรุปไว้ข้างต้น ประกาศฉบับนี้ยังได้ให้อำนาจสำนักงานพัฒนาธุรกรรมทางอิเล็กทรอนิกส์ในการกำหนดมาตรฐานการรักษาความมั่นคงปลอดภัยด้านสารสนเทศของระบบควบคุมการประชุมเพิ่มเติมได้หากเห็นสมควร อีกทั้งยังให้อำนาจหน่วยงานดังกล่าวเข้าตรวจประเมินและรับรองระบบควบคุมการประชุมผ่านสื่ออิเล็กทรอนิกส์ให้เป็นไปตามมาตรฐานที่กำหนดในประกาศนี้ ดังนั้น นิติบุคคลที่ประสงค์จะจัดการประชุมผ่านสื่ออิเล็กทรอนิกส์จึงควรติดตามประกาศจากหน่วยงานที่เกี่ยวข้องอย่างใกล้ชิดเพื่อให้สามารถจัดเตรียมการประชุมได้ถูกต้องครบถ้วนตามวิธีการและมาตรฐานที่กฎหมายกำหนด

 

ดาวโหลดฉบับ PDFDownload

 

 

Announcement for holding the AGM via a video conference

Announcement for holding the AGM via a video conference

News & Articles , ,

Due to the previous impracticality of the Announcement of the National Council for Peace and Order No. 74/2557 on Electronic Media Conference, B.E. 2557 (2014), which stated the following restrictions:

  1. 1/3 of the quorum must be presence in the same place, which was found to be conflicting with the current social distancing guideline imposed by the Emergency Decree on Public Administration in Emergency Situation B.E. 2548 (2005) and Communicable Diseases Act B.E. 2558 (2015) along with the WHO’s health guideline; and
  2. The previous requirement that all participants/attendees must be in the Kingdom at the same time.

The above restrictions were found to be impractical and leaving many businesses to postpone their annual general meeting (AGM) indefinitely.

To resolve this issue, the Thai government had made an additional announcement on the Emergency Decree on Electronic Media Conference, B.E. 2563 (2020) which came to effect on April 19, 2020. The new announcement effectively lifted the previously mentioned (1) and (2) restrictions. Under this new regulation, 1/3 of quorum no longer needs to be in the same venue nor within the Kingdom during the AGM. Hence, connection via video conferencing without having to meet the required quorum will now be considered valid.

Nonetheless, corporate entities must comply with the Announcement of the Ministry of Information and Communication Technology on Security Standards for Electronic Media Conference, B.E. 2557 (2014), in regard to the security standards for electronic media conference such as:

  • There must be a sufficient identification, verification and authorization protocol for the participants/attendees;
  • Record all audio and visual content of the meeting (except confidential matters);
  • Record all video traffic information of the meeting.

For now, corporate entities wishing to hold the AGM via video conference may refer to the guideline issued by the Ministry of Digital Economy and Society, which can be downloaded via this link (http://dmsic.moph.go.th/index/detail/8076).

Download full article (PDF) hereDownload

Thailand Immigration Rules during COVID-19

Thailand Immigration Rules during COVID-19

News & Articles , , , , , , ,

Extension for Thai Permanent Residency, Visa-on-Arrival, Long-term Visa and Temporary Border Pass during COVID-19 State of Emergency

Due to the enactment of “Emergency Decree on Public Administration in Emergency Situation B.E. 2548 (2005) (“EPAES”) which took effect from March 26, 2020. Travel restrictions were implemented to control the spread of COVID-19.

The previous announcement issued on April 7, 2020 stated that Thai permanent residency (“PR”), visa-on-arrival (“VOA”), long-term visa and Temporary Border Pass (“TBP”) holders were allowed a grace-period of stay until the end of April 2020. However, due to the ongoing crisis, a new notification from the Ministry of Interior Re: Permission issued on April 21, 2020 had furthered extended the previous grace period.

This newsletter will cover the new extension and exemption regulations for Thai permanent residency (“PR”), visa-on-arrival (“VOA”), long-term visa and Temporary Border Pass (“TBP”) holders.

Thai Permanent Residency (PR)

Under Thailand’s Immigration Act B.E. 2522 (1979), those who have been issued a PR permit (a blue book) can reside permanently in Thailand, with no need to apply for an extension of stay. If the holder wishes to leave the country, he/she must apply for a notification of leave that is valid for 1 year.

In the event that the holder cannot return to Thailand within the 1-year period (i.e. before the notification of leave expires), he/she is allowed an extension until COVID-19 pandemic has been resolved and the travel restrictions have been lifted. To this end, the holder must report to the immigration officer once he/she had returned to Thailand.

Visa-on-Arrival (VOA) & Long-term visa

Visitors with visa-on-arrival (VOA) and long-term visa may reside in Thailand until July 31, 2020. The Thai Immigration Bureau also waived the 90 days requirement to report his/her residential address to the immigration officer. There will be no additional fees or documents to be submitted to the Thai authority.

Temporary Border Pass (TBP)

Those who have been issued a TBP will be allowed to reside in Thailand until the Thai border has re-opened. Nonetheless, the TBP holder must leave Thailand within 7 days from the border reopening date, all overstay fees will be waived.

Entry Rules

Due to the enactment of the EPAES, special regulations were implemented for those that wishes to enter Thailand, the regulations are as follow.

1). Entry by Air Travel

Eligible for: Exempt individuals/professions, logistic providers, aircraft/transport personnel, diplomats, state officials, foreigners with working permit and Thai citizen.

 

  • Contact Thai Ministry of Foreign Affairs or Thai Embassy before departure
  • Prepare the following documents
    • Medical certificate (fit-to-fly), valid for 72 hours from issuance
    • Thai Embassy verification certificate
    • Thai Ministry of Foreign Affairs verification certificate
  • Temperature checks (under 37.3 °C)
  • On arrival in Thailand, download and register “AOT Airport Application”
  • Subject to mandatory 14 days state quarantine

2). Required Documents

 

 

 

 

Download full article (PDF) hereDownload

 

1 2 3 … 5