After three years of delays due to COVID-19 pandemic, Thailand’s first law on personal data protection (PDPA) officially entered into force on June 1, 2022.

The PDPA (Personal Data Protection Act) aims to regulate how personal datas are collected, used, disclosed, transfers, and provides a safeguard against abuses of the right to privacy of a date subject. 

fin paypal thailande

No more PayPal transactions in Thailand from 7 March.

Originally located in the United States, PayPal is one of the most famous online payment platform providers in the world. It allows users to pay for goods or services online, sending and receiving money safely.

With over 360 million active users in more than 200 countries, Paypal has been registered as a legal entity in Thailand since 2016. Besides, as the e-commerce industry in Southeast Asia, including Thailand is growing quickly, the company got a real opportunity from this market. (read our article)

Thailand is one of the fastest-growing economies in Southeast Asia being the second-largest business to consumer e-commerce market in the region after Indonesia (Economic Research, J.P. Morgan Chase Bank).

Thanks to its strategic location, stable economy, business-friendly environment and cost-effective labor, Thailand offers foreign investors a lot of benefits to make it one of the region’s most attractive to establish a business and make important connections (read our article).

According to the Law on Foreign Trade in Thailand, certain types of activities are reserved only for Thai citizens. As a result, foreign entities or firms who wish to do business in Thailand in one of the prohibited classes of business, have to obtain a foreign business license. “The Foreign Business Act (FBA), B.E. 2542 (1999) is enacted to govern business operations and activities involving foreign nationals and entities”.

In 2021, Thailand is the world’s 53rd-largest country by area, 20th-largest by population, and the 28th-largest in the world by economic size. With a newly industrialized emerging market economy, international investors know the country for its robust growth rates that are being driven by a rapidly expanding population and growing exports around the world.