Ira Blumenthal joined by Georgetown Law Dean for BRS Associate Career Development Program Session

Blumenthal Richter & Sumet (“BRS”) was delighted to host Caryn Voland, Dean for Graduate Admissions at Georgetown University Law Center (“Georgetown Law”), during her visit to Bangkok, Thailand. Senior Partner Ira Blumenthal, a proud graduate of Georgetown Law’s Juris Doctorate program (Class of ’94), organized this information session as part of our commitment to the career development program for associates and our support for their continued education.

Ira and Caryn provided associates with an understanding of how, as the practice of law becomes increasingly international, an understanding of U.S. law provides lawyers with a competitive advantage. In addition to sharing information on Georgetown Law’s academic program and application process, Caryn also offered advice on how the LL.M. degree could fit into prospective students’ various career paths.

Furthermore, Ira discussed how obtaining a second legal degree at Georgetown Law provides junior to mid-level associates with many intangible personal and professional benefits. These benefits include access to a global alumni network and exposure to the life experience of living in Washington D.C.

Ira remarks, “BRS’s Associates have always distinguished themselves from their peers at other firms by their business-oriented perspective. The process of spending time in a foreign country and growing as a person, not just as a lawyer, adds to one’s ability to frame legal practice in a variety of contexts. Georgetown Law has played a noteworthy role in my career as a lawyer, entrepreneur, and investor.”

Georgetown Law, based in Washington D.C steps away from the Supreme Court of the United States,” is one of the United States, “Top-14” law schools.

Blumenthal Richter & Sumet’s Tax receives first team ranking on Chambers & Partners as a Band 2 Practice

Blumenthal Richter & Sumet (“BRS”) ’s Tax & Customs Practice, led by Senior Partner Sumet Mingmongkolmitr, received its first practice ranking on Chambers & Partners 2024, ranking as a Band 2 on Tax Practice Area, which was recently released this month.

Although the individual recognition of Sumet Mingmongkolmitr, one of Thailand’s respected authorities on Tax & Customs, as a Band 3 individual may not come across as surprise to members of the legal community, we at BRS are particularly elated to share news of the first time his team has achieved their ranking, as this recognition attests to the more holistic caliber of not only Sumet, but also of his Associates and the development of his practice.

BRS’s Tax & Customs Practice has seen rapid growth over the past years with Sumet bringing in an impressive rostrum of Associates with bespoke experiences at leading global Tax matters and advising in-house at Thailand’s largest corporations. The team is bolstered by the leadership of Senior Associate Sudarat Jirakietwattana, who assists Sumet in leading the team’s day-to-day operations.

Sudarat, who has worked with Sumet for over 6 years, was promoted to Senior Associate at the beginning of this year. A seasoned tax lawyer, she is highly regarded for her expertise in taxation, customs law, and general corporate matters. Specializing in advising both multinational and domestic corporate clients, she excels in intricate corporate tax issues such as customs duty exemption, business import, and Tariff Code. Her proficiency extends to corporate matters, where she has a proven track record of providing meticulous corporate law advices to high-net-worth clients. This includes guidance on business setup, employment, school operations, tourism and wills. Sudarat demonstrates professionalism in providing customs and tax advice to clients, particularly when they are facing complex issues such as goods inspection and categorization with Thai local authorities like the Customs Department and the Revenue Department.

Apart from her professional role, Sudarat is also a prominent member of the BRS office as the Head of BRS’s Internship Committee. Motivated by a passion to promote legal education and career, Sudarat manages the firm’s internship program, leading recruiting and marketing efforts at the faculties of laws of various Thailand’s leading universities. She is frequently a speaker at Chulalongkorn University and Thammasat University on panels promoting the BRS and the legal profession.

With Sudarat at the helm, Sumet’s team is further supported by Warumporn Chaosanguan, who joined his team from major Audit firm, bringing expertise in delivering comprehensive tax opinions and advice to multinational and domestic clients, offering support during tax audits, and providing expert assistance in reviewing tax-related transactions. Rounding out the team’s expertise are Yanisa Rujirawat, who was also a legal consultant at one of the major Audit firms as well as an in-house advisor for one of Thailand’s leading conglomerates, having extensive experience in advising multinational and domestic clients in corporate and commercial transactions, and Sataporn Samanyaporn, who plays an integral role in providing customs, legal and regulatory compliance advice to companies engaging in various industries, i.e. logistics, technology, trading, and manufacturing. “In many ways, I am prouder of this team recognition than my own,” remarks Sumet, “I am incredibly proud of the diverse yet complementing strengths and experiences of my team. Thank you to all of our clients for your continued trust in our team.”

BRS’ internationally ranked Tax and Customs practice is well-reputed and advises on all aspects of domestic and cross-border taxation. Our lawyers are experienced in the full range of business tax and customs matters, among other areas such as corporate matters, labor, education and tourism.

 

 

Blumenthal Richter & Sumet’s Real Estate and Tax Practices Garner Individual and Practice-Wide Rankings on Chambers & Partners Asia Pacific (2024) Guide

Blumenthal Richter & Sumet (“BRS”) is pleased to share that two of our most prominent practices and lawyers have continued to gain international recognition for their outstanding work in the Real Estate and Tax market.

Ranked as a Band 2 practice in the 2024 guide, BRS’ Real Estate practice has received its fifteenth listing in Chambers & Partners Asia Pacific, a testament to the team’s experience in advising multinational corporations, institutional investors, private equity funds, SMEs and entrepreneurs on a wide range of transactions, involving various types and classes of real estate assets.

Senior Partner Robert Schuler, Head of Real Estate Practice, was also listed as a Band 2 individual marking his eight year of recognition by the leading global directory.

The Real Estate team, led by Robert and bolstered by recently promoted Partner Weerasa Makepongtorn, an attorney highly skilled in assisting foreign and local clients in navigating the complexities of establishing and successfully developing their businesses in Thailand, boasts a formidable reputation in advising on the legal aspects of stages of property acquisition including hotels & resorts, retail, mixed-use and residential properties.

Moreover, BRS’ Tax practice has received its inaugural listing on the directory, opening strong as a Band 2 practice.

BRS’s Tax attorneys, led by Senior Partner Sumet Mingmongkolmitr and supported by Senior Associate Sudarat Jirakietwattana, who has worked with Sumet for 6 years, are known for their acumen in advising on structuring complex business transactions and arrangements and delivering pre-emptive tax solutions and investment strategies to meet a diverse range of local and international legal requirement.

Sumet himself further received his seventh listing in Chambers Asia Pacific as an Band 3 individual. “To make our debut on this list is incredible,” remarks Sumet, “But more so, to break in at Band 2, is something I could not be prouder of. I am also incredibly delighted to hear of continued success from Robert, who I have had the pleasure of working with over the past 20 years.”

 

 

 

 

 

Senior Partner Andreas Richter Receives INTERLAW’s Interlawyer of The Year Award

Andreas Richter, Senior Partner at Blumenthal Richter & Sumet, has been honored with the prestigious Interlawyer of the Year Award for 2023 by INTERLAW in acknowledgment of his unwavering dedication, commitment, and camaraderie within the legal community. This distinguished award was presented to Andreas during INTERLAW’s annual conference, held in Costa Rica in October 2023.

Blumenthal Richter & Sumet serves as the exclusive Thailand representative of INTERLAW, a renowned global network of independent law firms comprising over 7,500 lawyers situated in more than 150 cities worldwide. Recognized for legal excellence for over four decades, INTERLAW consistently holds a Band 1 ranking in leading legal directories such as The Legal 500 and Chambers & Partners.

Andreas’s illustrious career spanning three decades in the areas of foreign direct investment and corporate law set him apart as a worthy recipient of this accolade. Beyond his unwavering commitment to his clients, Andreas has demonstrated a remarkable dedication to nurturing enduring relationships within the global legal community. His proficiency in collaboration and knowledge-sharing has solidified his role as a mentor and friend, particularly within the INTERLAW Network.

Notably, Andreas played a pivotal role in successfully organizing INTERLAW’s Asia-Pacific Regional Conference in Bangkok earlier in the year, attended by over 60 legal professionals from the Asia Pacific region. Additionally, Andreas exhibited exceptional collaborative and synergy-building skills within the INTERLAW community, collaborating with fellow INTERLAW member firms on various cross-border initiatives, including the establishment of the firm’s Japan Desk in partnership with the esteemed Tokyo law firm Momo-O, Matsuo & Mamba.

We, at Blumenthal Richter & Sumet, extend our heartfelt congratulations to Andreas Richter for this well-deserved recognition.

 

 

 

 

BRS and Zhong Lun W&D Law Firms Forge Collaborative “China Desk”

Renowned international law firms, Blumenthal Richter & Sumet (“BRS”) and Zhong Lun W&D (“ZLWD”), one of the largest law firm in the People’s Republic of China, have signed a Memorandum of Understanding (MoU) to establish an informal strategic alliance and inaugurate their collaborative “China Desk.”  The “China Desk,” staffed by proficient Thai and Chinese attorneys, is ardently devoted to addressing the distinct needs of Chinese corporate clients conducting business in Thailand, as well as Thai companies investing in China.

The signing of the MoU was attended by BRS Senior Partner Andreas Richter, the driving force behind the China Desk practice. Also present were Partner Stefan Riedl, a distinguished expert in Corporate and Contract Law, as well as M&A, and Partner Weerasa Makepongtorn, a key member of the internationally acclaimed Real Estate & Hospitality team.

The event also welcomed Tongxin Xie, a Partner of ZLWD, who divides her time between Bangkok and Shanghai, and Wei Lin Liang, a Senior Partner of ZLWD based in Shanghai with over 30 years of experience in Chinese inbound and outbound foreign direct investment.

Tongxin plays a pivotal role in advising Chinese companies on their investments in Thailand. Collaborating closely with Andreas and his corporate team, her practice focuses on guiding Chinese clients through Thailand’s foreign investment framework, establishing foreign-owned subsidiaries, factory and  land acquisitions, securing Board of Investment promotions, and obtaining relevant licenses and permits.

Wei Lin, an authority in the Chinese foreign direct investment landscape, boasts a market-leading practice representing large-scale enterprises, including multinational corporations and leading Chinese conglomerates, in corporate governance, investments, mergers & acquisitions. He is also a veteran in helping Chinese companies establish their presence in Africa, the Middle East, and Latin America.

“BRS and ZLWD are committed to further developing and enhancing our cross-border expertise, enabling Chinese clients to successfully enter the Thai market and establish their business operations in Thailand and Southeast Asia,” remarks Andreas Richter. “I have known and worked with Wei Lin for over 15 years; our joint collaboration is based on mutual professional respect and a long and trusted personal friendship. My team and I eagerly anticipate working with Wei Lin and Tongxin to facilitate seamless cross-border transactions between China and Thailand.”

 

 

 

 

Income Tax for Foreigners with and without Long-Term Resident Visa

Sumet Mingmongkolmitr  and Yanisa Rujirawat

According to the Royal Decree (No. 743) regarding the reduction of tax rate and exemption of tax, and the Director-General of the Revenue Department’s Notification regarding Income Tax (No. 427) prescribing the criteria, procedures, and conditions on income tax reduction and exemption for foreigners categorized as long-term residents, qualified foreigners who have been granted Long-Term Resident Visa (the “LTR Visa”) will be eligible for tax privileges, which are:

In the case of foreigners granted the LTR Visa in the category of a “Highly-Skilled Professional”, these foreigners will be entitled to a reduction of the personal income tax rate, from 35% to 17%, for employment income derived from working for a company or registered partnership which engages in the target industries under the laws of National Competitiveness Enhancement, Investment Promotion, and Eastern Economic Corridor. Moreover, this type of assessable income will not be treated as taxable income for the purposes of calculating personal income tax when filing the Personal Income Tax Return, provided that the tax on such income has already been withheld at a rate of 17% and the LTR Visa holder does not request a tax refund or credit from the Revenue Department.

In the case of foreigners granted the LTR Visa in the categories of “Wealth Global Citizen”, “Wealthy Pensioner”, and “Work from Thailand Professional”, these foreigners will be exempted from paying personal income tax on their assessable income derived in the previous tax year from their work or business conducted abroad or from their properties situated abroad which have been brought into Thailand.

On the other hand, for foreigners working in Thailand who have not been granted the LTR Visa, regardless of the fact that they are employees of Thai companies or foreign-based companies, employment income will be regarded as an assessable income derived from employment or business carried out in Thailand. As such, any income paid by Thai companies and/or foreign-based companies to those foreigners for their employment or business conducted in Thailand, including income paid outside Thailand by foreign-based companies, will be treated as taxable income and calculated when paying personal income tax in each tax year, regardless of whether or not such foreigners reside in Thailand for an aggregate period of 180 days.

In cases where such employment income is paid to foreign employees by their employers in Thailand, the employer who is the payer of income shall also be responsible for deducting withholding tax from such income. In this regard, the tax withheld will be creditable against the personal income tax payable by those foreign employees when filing the Personal Income Tax Return, or those foreign employees will be entitled to request a refund of tax paid or withheld in excess from the Revenue Department in the event that the total tax withheld by the payer of income exceeds the total tax payable by those foreign employees.

If you are a foreigner working in Thailand and would like to learn more about how the aforementioned Decree and Notification impacts your tax payment, please contact the authors of this article, Sumet Mingmongkolmitr (Senior Partner) and Yanisa Rujirawat (Associate).

 

 

 

Hiring: Mid-Level Litigation Lawyer (5-7 Years’ Experience)

Blumenthal Richter & Sumet is seeking a motivated attorney with 5-7  years’ experience to join our Litigation and Dispute Resolution practice. We are seeking candidates with the following qualifications:

  • Bachelor’s degree or Master’s degree
  •  Lawyer’s License
  •  5-7 years’ experience working on litigation matters in a law firm
  •  Analytical, problem-solving and communication skills
  • Interpersonal skills and ability to work as a team player
  •  Proactiveness and eagerness to develop legal acumen
  • Spoken and written English

 

Blumenthal Richter & Sumet offers attractive remuneration and the opportunity to develop professionally in an established legal practice. Interested candidates are invited to submit their CV and references to [email protected]. All applications will be treated as strictly confidential. Only shortlisted candidates will be notified.

Hiring: Mid-Level Litigation Lawyer (2-4 Years’ Experience)

Blumenthal Richter & Sumet is seeking a motivated attorney with 2-4  years’ experience to join our Litigation and Dispute Resolution practice. We are seeking candidates with the following qualifications:

  • Bachelor’s degree or Master’s degree
  •  Lawyer’s License
  •  2-4 years’ experience working on litigation matters in a law firm
  •  Analytical, problem-solving and communication skills
  • Interpersonal skills and ability to work as a team player
  •  Proactiveness and eagerness to develop legal acumen
  • Good spoken and written English

 

Blumenthal Richter & Sumet offers attractive remuneration and the opportunity to develop professionally in an established legal practice. Interested candidates are invited to submit their CV and references to [email protected]. All applications will be treated as strictly confidential. Only shortlisted candidates will be notified.

Hiring: Commercial / Tax Lawyer (10-12 Years’ Experience)

Blumenthal Richter & Sumet is seeking a motivated attorney with 10-12 years’ experience to join our Corporate & Commercial and Tax practice. We are seeking candidates with the following qualifications:

  • Bachelor’s degree or Master’s degree
  • 10-12 years’ experience working in Corporate & Commercial and Tax matters in a law firm
  • Ability to multi-task with strong analytical and problem-solving skills
  • Proactive and service-minded with the ability to work independently
  • Highly proficient in spoken and written English
  • Leadership skills and ambition to grow a legal career
  • This position will report directly to the firm’s Senior Partner.

Blumenthal Richter & Sumet offers attractive remuneration and the opportunity to develop professionally in an established legal practice. Interested candidates are invited to submit their CV and references to [email protected]. All applications will be treated as strictly confidential. Only shortlisted candidates will be notified.

Robert Schuler Receives Gold Member Status in IR Global Network

Senior Partner Robert Schuler was awarded gold member status in recognition of his outstanding commitment and substantial contributions to IR Global network.

Robert received this honor at IR Global’s Annual Conference, which took place in Amsterdam in September 2023, from IR Global’s Business Development Director, Ross Nichols (pictured).  Robert’s recognition is a testament to his outstanding contribution to IR Global’s thought leadership as a favorite contributor and author of real estate and commercial articles for the network, where he explores legal developments and their impacts on clients from both a legal and commercial perspective. He is also committee member for Asia Pacific and passionate supporter of IR Global’s affiliated Sinchi foundation, which focuses its advocacy and service on issues related to indigenous rights, the preservation of cultural and the protection of nature.

A U.S.-licensed attorney, Robert has been working in Southeast Asia for more than 20 years. He leads Blumenthal Richter & Sumet’s Real Estate & Hospitality Group, advising investors and family offices, institutional investors and private equity funds to locally owned boutique hotels, leisure facilities, restaurants and F&B operations and international hotel chains and resorts on all aspects of the industry. Robert and his team has been recognized for their excellence in the real estate and hospitality sector by leading international directories including Legal 500 and Chambers & Partners.

“I want to express my gratitude to my IR Global peers,” remarks Robert, “It has been great working together and sharing knowledge to build the synergy to most effectively assist our clients as their work becomes increasingly global in nature and crosses into more and more jurisdictions”.

Robert has been a member of IR Global – a multi-disciplinary professional services network that provides legal, accountancy, financial advice to companies and individuals around the world which is listed by The Legal 500 and ranked by Chambers & Partners in its global list of “Leading Law Firm Networks” – since 2017 an exclusive member for Real Estate and Project Finance in Thailand.

Learn More about IR Global Here: https://irglobal.com/about/