Author: brslawyers2017

On September 5, 2023, prominent leaders from Blumenthal Richter & Sumet (“BRS”) in Bangkok and the Beijing-headquartered Zhonglun W&D Law Firm (“Zhonglun W&D”) convened to reflect on their five-year collaboration and explore strategies to further strengthening their dynamic working relationship. The primary objective of this gathering was to foster dialogue and reaffirm their shared commitment to delivering exceptional legal services to Chinese clients seeking investments in Thailand.

Present at this meeting were distinguished individuals from the Bangkok office, including Senior Partner Andreas Richter, a renowned expert in foreign direct investment with over three decades of professional experience. Joining him were Partner Ekkarat Ritthiplang, specializing in corporate law and cross-border transactions, who excels in managing interactions between foreign clients and Thai authorities, and Partner Stefan Riedl, a distinguished expert in Corporate and Contract Law as well as M&A, recognized for his proficiency in crafting and negotiating robust commercial agreements.

Also in attendance was Tongxin Xie, a Partner at Zhonglun W&D Law Firm based in Shanghai. Splitting her time between Bangkok and Shanghai, Tongxin plays a pivotal role in advising Chinese companies on their investments in Thailand. Collaborating closely with Andreas, Ekkarat, and Stefan, her practice revolves around guiding Chinese clients through Thailand’s investment framework, establishing foreign-owned subsidiaries, securing Board of Investment promotions, and obtaining relevant licenses and permits.

Leveraging Tongxin’s unique expertise in both Thai and Chinese law and business practices, BRS and Zhonglun W&D have strategically combined their strengths to form a collaborative working alliance that caters to the legal needs of large Chinese corporations and high-net-worth individuals seeking to establish and expand their businesses in Thailand. BRS’ China Desk, supported by two additional native Mandarin-speaking attorneys, provides specialized legal assistance to Chinese enterprises navigating the intricate landscape of the Thai market, particularly within regulated sectors such as automotive, pharmaceuticals, and other manufacturing and service industries. Together, the China Desk has already successfully represented Chinese clients in market-leading inbound transactions, including many state-owned enterprises.

“Zhonglun W&D is one of the earliest-established Chinese law firms and has evolved into one of China’s premier law firms with a global outlook,” remarked Andreas. “We consider ourselves extremely fortunate to collaborate with a firm that boasts such a long and successful history in China and abroad. This cooperation uniquely positions us to harness our combined expertise in fostering cultural and economic connections between businesses in Thailand and China.”

Blumenthal Richter & Sumet (“BRS”) is pleased to announce the successful conclusion of our 2023 internship season, marking yet another enriching and diverse experience for 11 aspiring legal practitioners.

Over the past few months, BRS had the privilege of hosting a diverse group of interns, including students from the legal faculty of leading local institutions Thammasat University and Chulalongkorn University. Furthermore, the firm proudly welcomed students from international backgrounds. Our interns included two outstanding individuals from International School Bangkok (“ISB”), one of Thailand’s most prestigious international schools, where our Senior Partner Andreas Richter serves as Chair of the Board of Trustees. Additionally, we had the honor of hosting an ISB alumna currently studying at Stanford University, one of the world’s top-ranking educational institutions. Expanding our global reach, we welcomed an intern who graduated from Humboldt-Universität zu Berlin in Germany.

Partner Ekkarat Ritthiplang, an alumnus of Chulalongkorn University who plays a key role in recruiting and supervising interns from local universities, affirms, “Our Thammasat and Chula interns displayed remarkable dedication and adaptability in tackling complex legal tasks in both Thai and English language. I am deeply impressed with the quality of their work and hope to see many of them join our firm in the near future”.

Looking ahead with enthusiasm, Ekkarat is excited for the upcoming 2024 season and is eager to get to know the new class of interns, as BRS has now launched its recruitment and application period. As part of our outreach, Partner Weerasa Makepongtorn, recently promoted at Blumenthal Richter & Sumet, participated as an esteemed speaker at the Thammasat University Internship Fair, held on September 19 at the University’s Rangsit campus.

Weerasa participated in a panel discussion where she shared what sets BRS apart as a truly international law firm – our roster of attorneys and consultants hailing from Thailand, Germany, America, Austria, China and Japan and our long-term affiliation with prestigious international networks Interlaw and IR Global. She emphasized our firm’s recognition as one of the most entrepreneurial and progressive firms in Thailand – characterized by our open-door policy, transparent communication and pillar of providing commercially minded and business-oriented legal advice.

This event held special significance for Weerasa, as it marked one of her first speaking engagements as a Partner representing BRS. She shared, “Returning to Thammasat, my alma mater, as a Partner feels like a full-circle moment for me. It’s a testament to the firm’s commitment to nurturing talent and providing opportunities for growth. I very much look forward helping Thammasat’s students advance in their legal careers as part of their internship with us.”

Weerasa also expressed her excitement about conducting interviews with internship applicants. She said, “I am genuinely excited about the interview process. It’s an opportunity to identify the future stars of our profession and bring fresh talent into our dynamic team. Ekkarat, myself and the internship committee are very much looking forward to getting to know the newest potential members of the BRS team.”

We had a wonderful time meeting prospective interns at Chulalongkorn and Thammasat University’s Open Houses and are delighted to announce that applications are now open for our local internship program.

More information about our internship program for Thai university students is available on our social media channels.

The Tax & Customs Team at Blumenthal Richter & Sumet, led by Senior Partner Sumet Mingmongkolmtir, has once again been honored with a prestigious “Highly Recommended” designation in the Asia Law 2023/2024 Directory. This recognition marks the sixth consecutive year that the practice has achieved this distinction, further affirming the team’s capabilities in advising both domestic and international clients on complex business transactions, compliance with local and international tax requirements, and strategic investment planning.

The Asia Law 2023/2024 Directory has acknowledged the Tax & Customs Team as a standout in the field, underlining its ability to deliver pre-emptive tax solutions and investment strategies that align with the diverse and ever-evolving landscape of local and international legal regulations.

Sumet expressed his gratitude for this continued recognition, stating, “I am truly honored that our practice has been recognized as ‘Highly Recommended’ for the sixth consecutive year. This achievement is a testament to the unwavering trust and support of our clients, particularly those in Asia, who have entrusted us with their most complex tax and customs challenges.”
Furthermore, Sumet Mingmongkolmtir himself received notable recognition from the publication as a “tax expert” and one of the “key partners” of the firm. His expertise and leadership have been instrumental in guiding the Tax & Customs Team towards continued excellence.

The Tax & Customs practice at Blumenthal Richter & Sumet continues to grow and is currently in the process of expanding its team. The firm is actively seeking talented professionals who are passionate about taxation and customs to join its growing practice as a Senior Associate.

As the Tax & Customs Team at Blumenthal Richter & Sumet continues to excel and provide top-tier tax and customs solutions to clients worldwide, the firm remains committed to its mission of delivering innovative legal counsel that meets the ever-evolving demands of the global business landscape.

Blumenthal Richter & Sumet (“BRS”), a leading law firm in Thailand, is pleased to announce its outstanding achievements in the latest Asia Law Profiles 2023/2024 rankings. The firm’s Real Estate & Construction and Hospitality & Lifestyle team, under the esteemed leadership of Senior Partner Robert Schuler and newly promoted Partner Weerasa Makepongtorn, has once again secured remarkable recognition.

In the Asia Law Profiles 2023/2024 rankings, Blumenthal Richter & Sumet has been recognized as a Highly Recommended firm for its Real Estate practice , solidifying its reputation as a premier legal partner in this sector and making its sixth recognition by the directory. Additionally, the firm has garnered further distinction as a Notable firm for its work in construction law.

Senior Partner Robert Schuler expressed his enthusiasm for the firm’s achievements, stating, “With Weerasa taking on an increasingly active role within the practice, I am excited about the continued growth of the Real Estate team in the Asia markets. Our dedication to excellence and commitment to delivering top-tier legal services have been pivotal in achieving these accolades.”

Weerasa has been instrumental in  streamlining and strategically managing the team’s foreign clients’ interface with domestic regulatory authorities and ensuring clients receive the highest level of legal counsel and support.

The recognition of her team in Asia Law’s 2023/2024 rankings is particularly meaningful for Weerasa, as it is her first recognition as a Partner in the team. Reflecting on her role, Weerasa Makepongtorn remarked, “I am honored to contribute to the success of Blumenthal Richter & Sumet and to facilitate a seamless experience for our international clients navigating the intricacies of Thai law. I sincerely thank our clients for their continued support.”

BRS continues to set the standard for excellence in the legal industry, and its exceptional achievements in the Asia Law Profiles 2023/2024 rankings reaffirm its commitment to delivering exceptional legal services across various sectors, particularly in Real Estate and Construction.

 

 

 

 

Blumenthal Richter & Sumet has dominated Asia Law Profiles  2023/2024 rankings with recognition in six awards categories.

We are thrilled to share that our Real Estate Practice and Tax Practice have once again been recognized by Asia Law Profiles for their outstanding work as Highly Recommended practices.

Our internationally renowned Real Estate & Hospitality team, led by Senior Partner Robert Schuler and supported by newly promoted Partner Weerasa Makepongtorn, garnered its sixth accolade in recognition of the team’s work 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.

Our Tax & Customs team, led by veteran Senior Partner Sumet Mingmongkolmtir was highlighted as a Highly Recommended practice, for the sixth year in a row, attesting to the caliber of the firm’s work in advising domestic and foreign clients on structuring complex business transactions and arrangements and delivering pre-emptive tax solutions and investment strategies to meet the range of local and international legal requirement.

We have also been recognized as a Recommended firm for our Dispute Resolution Practice and Corporate and M&A Practices, in addition to a Notable Firm for our work in the Technology, Media and Telecommunications practice and for our Construction Practice.

Asialaw, an internationally recognized legal directory known for being the only one of which provides comprehensive analysis on Asia’s regional and domestic firms, and leading lawyers from the regions, further recognized Blumenthal Richter & Sumet for having “a strong reputation in the market for its tax and technology practice…[assisting] both international and domestic companies in expanding into new markets, growing their businesses and navigating regulatory frameworks”.

 

 

 

 

Sumet Mingmongkolmitr and Warumporn Chaosanguan

On 18 September 2023, the Thai Revenue Department released the Revenue Department’s Order No. Por. 161/2566 regarding payments on the income tax under Section 41 paragraph 2 of the Thai Revenue Code (the “New RD’s Order”).

Under the New RD’s Order, Thai tax residents who derive assessable income from work or activities conducted outside Thailand or derive assessable income from property situated outside Thailand, and bring such income into Thailand in any tax year, shall be required to include such income in the personal income tax calculation for the tax year in which the income is brought into Thailand. The New RD’s Order will be effective on the assessable income that is brought into Thailand from 1 January 2024 onwards. Whilst per the current practice, the taxpayers are not required to include such income in the personal income tax calculation if they bring such income into Thailand in the latter tax year.

The New RD’s Order would affect Thai tax residents (individuals regardless of nationality who aggregately stay in Thailand for not less than 180 days during a given tax year). Under the country’s tax system, Thai tax residents are required to self-declare when it comes to personal tax liability. Consequently, there is ambiguity regarding the practicality and effectiveness of the tax authorities’ tools for tracking and cross-checking the individuals’ assessable income. Some taxpayers have further raised concerns about whether the new policy would place both more tax and administrative burdens on legal taxpayers.

In this regard, the taxpayers who derive assessable income from offshore are recommended to plan and review their tax planning for bringing the income into Thailand. Furthermore, our Firm anticipates foreseen problems in declaring and proving the assessable income brought from offshore under this New RD’s Order.

As the Revenue Department has not yet released further guidelines responding to the above concerns, the Tax and Customs Practice Group at Blumenthal Richter & Sumet will keep track of developments in connection to its order regarding offshore income tax for Thai tax residents and inform you accordingly.