Anuwat Ngamprasertkul, National TViasadmin

MEDIA: Thailand to lift foreign condo ownership cap & extend lease terms

Home ownership is a dream for many Thai people. Yet, the number of mortgage applications being denied is rising steadily. The Thai government has announced stimulus measures to boost local people’s purchasing power but also to attract additional foreign investment into the country’s real estate sector. These measures include proposals to increase foreign ownership quotas for condominiums from 49% to 75% and extend land leasehold terms from 30-50 years to 99 years.

Concerns are being raised by local people about already soaring property prices and the impact on housing markets of foreigners using condos as buy-to-let investments.

But what form will the government’s proposed regulations actually take? How will the changes affect housing markets in practice? How likely is it that homes will become unaffordable for local people? Are their concerns regarding foreign investment justified? What other regulations can be introduced to mitigate any adverse effects?

Join the discussion with IAS Advisory co-founder Mr Anuwat Ngamprasertkul in an episode of the popular evening TV programme Home Economy, hosted by veteran news anchor, reporter and journalist Dr Wit Sittivaekin.

This episode premiered on Thursday 12th September 2024 on Thai PBS, Thailand’s public broadcasting service. Disclaimer: all content is owned by Thai PBS. Visit the Thai PBS website here:: https://www.thaipbs.or.th/home

Anuwat Ngamprasertkul, DITP, PDPA, TBALiasadmin

Anuwat gives “Personal Information Protection” address in Lao PDR

IAS Advisory co-founder Mr Anuwat Ngamprasertkul was greatly honoured to give an address as part of the special seminar “Personal data privacy compliance when carrying out business in Lao PDR,” which took place on Thursday 26th September at DoubleTree by Hilton Vientiane in Lao PDR.

The event was organised by the Thai Business Association of Lao PDR (TBAL), Thailand’s Department of International Trade Promotion (DITP), and the Royal Thai Embassy in Vientiane, Lao PDR.

Distinguished chairpersons of the seminar included H E Ms Morakot Sriswasdi (Ambassador of the Kingdom of Thailand to Lao PDR), Mr Kawin Viriyapanich (Minister-Counsellor (Commercial), Royal Thai Embassy, Vientiane, Lao PDR), and Mr Thamnong Pholthongmak (TBAL President).

In his address, Anuwat detailed how Thailand’s Personal Data Protection Act (PDPA) is affecting the way Thai companies are doing business, its impact on international transactions, and how the PDPA applies when conducting business operations in Lao PDR.

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ADR Week 2024, Anuwat Ngamprasertkuliasadmin

IAS Advisory key sponsor for prestigious “Thailand ADR Week 2024”

IAS Advisory was delighted to support “Thailand Alternative Dispute Resolution (ADR) Week 2024,” which took place in the Grand Ballroom of the Anantara Siam Bangkok Hotel from 18th-20th September. Distinguished guests included Police Colonel Mr Tawee Sodsong, Thailand’s Justice Minister, and Ms Pongsawat Neelayothin, Permanent Secretary of Thailand’s Ministry of Justice.

The theme of this year’s event was “Emerging Trends in ADR,” with sessions focused on charting the future of dispute resolution through international and regional developments. Attendees gained global perspectives and insights into regional and international ADR trends, best practices, and emerging legal frameworks. They heard expert analysis from renowned ADR practitioners, mediators and arbitrators, discussed the latest research, and learnt about cutting-edge approaches and upcoming initiatives and projects.

IAS Advisory co-founder Mr Anuwat Ngamprasertkul co-hosted the Day 2 session, “The ASEAN Way: Implications for Disputes along the OBOR (One Belt, One Road),” in which he discussed steps for conflict resolution and how to control potential damage.

He showed stakeholders how to be proactive in avoiding disputes arising from projects along the OBOR in ASEAN countries, and emphasised the need for clear, well-drafted contracts that align with local and international laws and incorporate pre-agreed dispute resolution mechanisms, such as mediation or arbitration clauses, which can help address conflicts before they escalate.

IAS Advisory’s dispute resolution, litigation & arbitration head Mr Chumphon Macharoen also joined, together with associates Mr Tataraj Indrasukhsri and Mr Tanadej Kanitthanon.

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Anuwat Ngamprasertkul, National TViasadmin

MEDIA: all you need to know before agreeing to become a creditor

In an economic downturn, one thing lots of people may have to face is borrowing money from friends or acquaintances. The loan may be interest-free, without collateral, or even without any loan documents. Because personal relationships can make it difficult to discuss these matters, the creditor may end up being the one who suffers instead if the debt is defaulted.

In this episode of the popular evening TV programme Home Economy hosted by veteran news anchor, reporter and journalist Dr Wit Sittivaekin, IAS Advisory co-founder Mr Anuwat Ngamprasertkul shares everything you need to know before agreeing to become a creditor, including all the do’s and don’ts and should’s and shouldn’ts.

This episode premiered on Tuesday 10th September 2024 on Thai PBS, Thailand’s public broadcasting service. Disclaimer: all content is owned by Thai PBS. Visit the Thai PBS website here: https://www.thaipbs.or.th/home

Anuwat Ngamprasertkul, DITP, PDPA, TBALiasadmin

Reminder of Thai Business Association of Lao PDR (TBAL) special seminar

A reminder of the upcoming meeting on “Personal Information Protection in Thailand,” which is being organised by the Thai Business Association of Lao PDR (TBAL) and Thailand’s Department of International Trade Promotion (DITP).

This special seminar will take place on Thursday 26th September from 13:00 to 20:00 at DoubleTree by Hilton Vientiane in Lao PDR.

Distinguished guest speakers at the meeting will include Ambassador Morakot Sriswasdi, Ambassador of the Kingdom of Thailand to Lao PDR, and Mr Thamnong Pholthongmak, TBAL President.

IAS Advisory co-founder Mr Anuwat Ngamprasertkul is honoured to have been asked to join and talk about how Thailand’s Personal Data Protection Act (PDPA) is affecting the way Thai companies are doing business and its impact on international transactions.

For those interested in attending this prestigious event, please register using the below QR code or, alternatively, call: +856 20 5558-1238.

IAS Advisory Internship Programme 2024iasadmin

Durham University student joins the team for summer internship

The firm was delighted to welcome Durham University student Ms Lavanya Dev-Kauffmann onto its Summer Internship Programme.

Lavanya, who is pursuing a Bachelor of Laws degree at the distinguished UK university, was a pleasure to get to know during her time with us last month.

With a diverse educational background spanning Southeast Asia, the Middle East and Europe, Lavanya was able to bring a global perspective to her assignments and to discussions with the firm’s legal personnel. Her prior experience in leadership roles in different legal-focused academic societies allowed her to settle in and contribute straight from the off.

As part of her internship, Lavanya gained exposure to intra-ASEAN cross-border transactions involving Thai companies, researched and prepared updates regarding recent changes to the law in Thailand, attended a knowledge sharing session with quantum experts from a corporate/cyber investigations unit, and helped our attorneys translate various Thai laws and regulations into the English language, among other activities.

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Anuwat Ngamprasertkul, PDPAiasadmin

PDPA enforcement update & implications for your business

Yesterday, on 21st August 2024, the Office of the Personal Data Protection Committee (the “PDPC”) and the Ministry of Digital Economy & Society announced a significant enforcement action. The Expert Committee on Technology & Related Issues (Committee 2) imposed a fine of up to THB 7,000,000 (Seven Million Thai Baht) on a major private company engaged in online trade.

The fine was levied due to the company’s failure to adequately protect personal data, leading to a breach that exposed sensitive information to call centre gangs.

The company had collected personal data from over 100,000 customers but did not appoint a Data Protection Officer, as mandated by Section 41 of the Personal Data Protection Act B.E. 2562 (2019) (the “PDPA”). From the PDPC’s investigation, the Company was found to have insufficient security measures in place to protect customer data as required by Section 31(1). They also failed to identify the breach and notify the affected customers and the PDPC of the breach in a timely manner, in violation of Section 37(4).

This is the first administrative fine to be issued under the PDPA. Such enforcement action reflects the PDPA’s alignment with the European Union’s General Data Protection Regulation (the “GDPR”).

Mr Prasert Jantarawongthong, Minister of Digital Economy & Society, emphasised that this decision underscores the importance of compliance with data breach reporting requirements and serves as a cautionary message to all organisations. A further release of the full directive is expected and should benefit other operators in implementing their own compliance practices. It will also provide a clearer picture of the PDPC’s enforcement approach.

For guidance on navigating the PDPA and ensuring the compliance of your organisation, please contact us. Our team of lawyers is here to help you implement effective data protection strategies and avoid regulatory pitfalls.

This article was researched and prepared by Ms Lavanya Dev-Kauffmann.

Anuwat Ngamprasertkul, National TViasadmin

MEDIA: what can freelance workers do to protect their rights and interests?

In 2023, from 39.22 million employed people in Thailand, as many as 52.19% or 20.46 million were self-employed. This was an increase from the previous year and the number of people freelancing is likely to continue to grow.

Yet, freelance workers often face difficulties such as slave contracts, delays in payment, unreasonable work modifications, or even not clearly stating remuneration due to the employer’s concerns. So, what do you need to know to protect yourself and protect your rights?

Join the discussion with IAS Advisory co-founding partner Mr Anuwat Ngamprasertkul in an episode of the popular evening TV programme Home Economy, hosted by veteran news anchor, reporter and journalist Dr Wit Sittivaekin.

This episode premiered on Wednesday 19th June 2024 on Thai PBS, Thailand’s public broadcasting service. Disclaimer: all content is owned by Thai PBS. Visit the Thai PBS website here: https://www.thaipbs.or.th/home

AFBE, Anuwat Ngamprasertkuliasadmin

Reminder about upcoming AFBE “Family Business Transition Series”

A reminder about the upcoming “Family Business Transition Series” of six training workshops in Bangkok, which is being organised by the Association of Family Business Entrepreneurs (AFBE).

The workshops will take place in September and October and cover the family charter, family wealth management, family holding companies/restructuring, accounting and tax, M&A for stability, and wills. IAS Advisory co-founder Mr Anuwat Ngamprasertkul will be leading the series’ closing educational seminar on wills.

The training workshops will take place at hotel venues in the Sukhumvit area of Bangkok and run from 09:00-16:00. Registration starts at 08:00.

More information about the AFBE, including membership options and registration for events, is available on its website HERE.

Register now for all six training workshops to receive special AFBE privileges! Those interested in attending can register directly using the AFBE’s Google Forms service HERE.

IAS Advisory Internship Programme 2024iasadmin

IAS Advisory welcomes three new interns to the team

The firm was delighted to host pupils from three different schools recently on its internship programme.

Mr Siratan Wongsathapornchai joined us from International Community School (ICS) during the months of June and July, while Ms Nantikarn Dhiranusornkit from Bangkok Patana School and Ms Kwachuen Kongchim from Trinity International School were part of our team in July.

Siratan impressed everybody with his assuredness and positivity and his ability to get the job done, and Nantikarn and Kwachuen proved themselves highly professional and capable on assignments as well as active and enthusiastic members of our team.

IAS Advisory has so far welcomed 10 students onto its internship and training programme since last year. The firm is committed to providing opportunities for growth and giving young people a platform to learn and make a difference.

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