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What is JTEPA?

JTEPA, or the Japan-Thailand Economic Partnership Agreement, is a type of free trade agreement that was signed on April 3rd, 2007, between Thailand and Japan. The economic ties between Thailand and Japan have been robust during the recent years. However, the private sector still faced some significant trade challenges, particularly with regard to tariff or regulatory obstacles. All investors faced a significant hurdle as a result of these barriers, which also hampered trade between the two nations. Therefore, JTEPA was drafted to address those issues in order to enhance economic integration and improve trade ties between Thailand and Japan.


JTEPA addresses a wide variety of trade-related issues, including investment, intellectual property rights, competition policy, and other legal considerations that have an impact on trade liberalization both directly and indirectly. Japanese investors have received assistance from Konrad Legal in order to benefit from basic business rights in Thailand, such as tariff reductions and the ability to run restricted businesses for foreign investors.

Can you Benefit from the Japan-Thailand Economic Partnership Agreement (JTEPA)?

To the Right to Request for Business Operations Certificate under JTEPA, the applicant must have the following qualifications :

  1. Be the company limited registered in Thailand (except some types of businesses that registered ordinary partnership or limited partnership can request for business operations certificate).
  2.  The limited company must have the number of foreign shareholders for less than 50% (except that some types of businesses do not have the limitation of number of foreign shareholders). 
  3.  The company’s shareholders must have the following qualifications : 
    1. Ordinary person with Japanese Nationality 
    2. Juristic Person established according to Japanese Law and such juristic person must have the following qualifications : 
      • Japanese people hold the shares for more than 50% of the juristic person’s capital 
      • The majority of directors must be Japanese people 
      • The authorized directors must be Japanese people 
      • The proportion of shareholding and number of shares of persons who request for certificate must be in compliance with the conditions of type of businesses under JTEPA Agreement.

Businesses that you can do under JTEPA

According to the Aliens Business Operations B.E.2542 of the JTEPA bilateral, Japanese Investors can request for Certificate in the following 8 types of businesses:

Type of Business

Conditions

Share of Japanese

Investors 

(not more than)

Ratio of Borrowings to Capital 

(not more than)

Others

Retail (except distilled alcohol)

  • Products manufactured by the company or subsidiaries located in Thailand under the same brand
  • Automobile products manufactured by the subsidiaries in Japan under the same brand

75%

3:1

No limitation of number of

Foreign Shareholders

Wholesale (except distilled alcohol)

  • Products manufactured by the company or subsidiaries located in Thailand under the same brand
  • Automobile products manufactured by the subsidiaries in Japan under the same brand

75%

3:1

No limitation of number of

Foreign Shareholders

Advertising Business

50%

3:1

No limitation of number of

Foreign Shareholders

Hotel Business

60%

3:1

  • Luxurious hotels and resorts with at least 100 rooms
  • Paid-up capital of at least 800 million Baht
  • Registered ordinary partnership, limited partnership, or company limited registered in Thailand
  • No limitation of number of foreign shareholders

Restaurant Business

60%

3:1

  • Full range of restaurant with the area of at least 450 square meters
  • Paid-up capital of at least 50 million Baht
  • Registered ordinary partnership, limited partnership, or company limited registered in Thailand
  • No limitation of number of foreign shareholders

Management Consulting Service

100%

3:1

Registered ordinary

Partnership, limited

partnership, or company limited registered in Thailand

Logistics Consulting Service (except every type

of transportation service)

51%

3:1

Company Limited registered in Thailand

Maintenance and

Repair Service Business

  • Household electrical appliances that such companies conduct the wholesale businesses in Thailand and such products are manufactured by such companies or subsidiaries in Thailand under the same brand.
  • Household electrical appliances that the subsidiaries in Japan manufacture under the same brand.

60%

3:1

  • Company Limited registered in Thailand
  • Paid-up capital of at least 100 million Baht
  • Number of directors with Thai nationalities must be in compliance
  • with the proportion of the shareholding in Thailand
  • At least 50% of Senior Technicians must have Thai nationalities
  • At least one foreign director must stay in Thailand
  • At least 1 senior manager must have Thai nationality
  • Have only one service center Transfer technology to Thai people such as training during working, offering information and necessary knowledge to Thai employees.

However, there are some businesses that are not covered by JTEPA according to the Aliens Business Operations B.E.2542. Following are the 7 types of the same:

Type of Business

Condition

Share of Japanese

Investors 

(not more than)

Others

Marketing Management Consulting Service

49%

 

HR Management

Consulting Service

49%

 

Production Management Consulting Service

49%

 

Project Management Consulting Service, except construction

49%

 

Marina Pier Service

Business (Motorboat and sailboat for

private purposes or recreation with

anchor and maintenance service

49%

 

Computer Service Business and Other related services

Less than 50%

 

University Educational Service

Less than 50%

  • At least 50% of the members of university council must have Thai nationality 
  • Must perform the duties according to Private Higher Education Institute B.E.2546

How We Can Help You

What We Need From You

Frequently Asked Questions

Generally, you will need a work permit to open a bank account in Thailand. But then there are a few banks that will let you open an account without a work permit. But opening an account with a tourist visa can be a little difficult. If you have a non-immigrant visa then it shouldn’t be a problem at all.

If you already have a work permit, then it will be pretty easy. All you need to do is go to any local bank, submit a photo copy of your passport and work permit and things will be done in 15 minutes. In case you don’t have a work permit, things may get a little trickier as not all banks let you open an account without a work permit. Also, take a Thai friend along as the banks may not have English-speaking clerks.

 If you are presently living in Thailand, then IOB could be the most convenient bank. How far I know, IOB is the one and only Indian bank to function in India. Sending money from Thailand to India will therefore be easier and quicker.

Well, many banks need you to be present while opening an account. Once you open an account, banks like Bangkok Bank let you do online banking.

Fees vary from bank to bank. Not only that bank fees can range from yearly account fees, ATM and conversion fees to account cancellation fees.

To ensure that you must consider a few factors such as, the interest rate on your deposit, minimum balance requirement, customer service and much more.