With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Thailand. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates, tax laws, and fees vary depending on the specific country in which you are investing; careful research and strategic financial moves could result in significant portfolio growth.

When considering opening a bank account in Thailand, one must enlist the help of international experts to guide them through the process.

Legal structures in Thailand
Every international jurisdiction abides by a different set of legal structures for taxation and banking. Confidus Solutions helps you to understand the nuances of each country's legal structures. To do business in Thailand, it will be critical for you to have a firm grasp on the financial and legal implications.

Initial investments
The vast majority of bank accounts in Thailand will require an initial financial outlay to secure account opening. This value differs from bank to bank and also depends on variable rates of currency exchange. An international finance expert will help to navigate these conversions as well as the assorted fees and minimums involved in sustaining a bank account. Be sure to understand interest and growth rates associated with any potential international bank account so that you are able to maximize your earnings while minimizing risk.

Tax structures in Thailand
For best results and to avoid bureaucratic and legal pitfalls, enlist the support of an expert in international finance and economics. This initial investment in proper processes and research will help to avoid a litany of long-term costs and fees associated with unforeseen errors and legal miscues. Language expertise, financial knowhow, and bureaucratic experience will ensure that your account opening is handled smoothly and without unintended consequences.

Confidus Solutions can offer banking services in any jurisdiction worldwide. You can see a full list of the jurisdictions we offer here. However, bear in mind that different jurisdictions may have different legal and compliance requirements, and so we would advise you to consult our agents prior to choosing a specific jurisdiction.

A trademark is a recognizable design, phrase, or mark that distinguishes a product or service from a particular source from those of others. Sometimes a mark used to identify a service is called a service mark, particularly in the United States. The trademark can be owned by a company, legal entity or individual and is usually found on a label, packaging, voucher, the product itself or sometimes even on company buildings. The primary purpose of a brand is to communicate that a product comes from a unique source and to differentiate it from other, similar products. For example, a trademark application serves to protect a brand name in order to preserve its original authorship.

Trademarks are protected by intellectual property rights. Intellectual property means a creation of the mind and a monopoly over that mind, assigned and protected by law to the owner of that intellectual property. Trademarks, patents, copyrights and design rights are all part of intellectual property rights. Any unauthorized use of the trademark through the manufacture or sale of counterfeit consumer goods constitutes an infringement of intellectual property rights known as trademark piracy. In the event of such infringement, the trademark owner may take legal action against trademark infringement.

Reasons to register and protect your trademark
Some countries, including the United States and Canada, recognize common law trademark rights, which allow action to be taken to protect a brand name even if a trademark has not been registered on it. Nevertheless, it offers significantly less legal protection compared to registered trademarks. Most countries now require formal trademark registration in order to take legal action against trademark infringement. Below is a quick guide on how to go through the process of registering your own trademark.

If the brand name is already in use before the trademark is registered, registration can be applied for under the concept of commercial use, declaring that the brand name is used commercially and is dated when it was first used. The declaration is usually included in the standard application form, which then has to be submitted to the competent authority with a sample showing the use of the brand name. Before submitting the registration form, it is necessary to search for existing trademarks related to a specific brand name - this can be done online.

Recent major trademark infringement cases
There have been numerous trademark infringement cases in the history of industrial property rights. Each of them serves as a reminder that intellectual property infringement is as serious an offense as physical property infringement.

#1 Louis Vuitton vs. Louis Vuitton Dak
Fashion designer Louis Vuitton recently won a trademark lawsuit against a South Korean fried chicken restaurant, Louis Vuiton Dak. The court ruled that not only was the restaurant's name too similar to the fashion brand, its logo and packaging closely resembled the designer's iconic imagery.

#2 Starbucks vs. Freddocino
In 2016, Starbucks took legal action against the company that owns the Coffee Culture Cafe in New York after it launched a drink called Freddocino. Starbucks owns a trademark for the term frappucino and notes that not only do both names share too many similarities, but both drinks share the same structure and visuals.

#3 3M vs 3N
3M initiated a lawsuit against a Chinese company using the 3N brand name and won on the grounds that the company had managed to attract customers and a significant market share thanks to similarities with 3M and its high distinctiveness and reputation of this brand name.

Registered Office & Secretary
Some jurisdictions laws require to assign a Corporate Secretary with association of the Registered Office of the company. For example, it is required by law officer in Gibraltar, Cyprus, Malta and Hong Kong. Or, it is an optional position in Ireland, United Kingdom or Marshall Islands. A Corporate Secretary is quite a different positon from what we commonly understand by secretarial services. A Corporate Secretary is an official officer in the company, who oversees the efficient administration of a company, especially in respect of compliance with statutory and administrative requirements. The main duties of the Company Secretary may vary from country to country, but commonly those are:

To keep and sometimes issue share certificates;
To maintain the company’s statutory registers;
To maintain and update all company registers;
To keep the company’s seal;
To prepare the notices for board meetings or shareholders’ meetings;
To prepare and lodge filings and minutes of the company’s meetings;
To prepare and file annual returns and other financial documents with the Trade Register;
To prepare any other document required by the law;
To sign statutory declarations on behalf of the company and authenticate documents.