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Thailand: Visa applications move to the Web

Chinese will soon become the first nationality able to apply and pay online for Thai visas, Chairi Archjananum, director-general of the Department of Consular Affairs at the Ministry of Foreign Affairs, said on Monday. The service arranged through Kasikornbank (KBank) would be globally available within three years, he said. The e-Visa system allows foreign nationals […]

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Thailand: VAT refund ‘politically motivated’

The Election Commission (EC) has insisted it needs to examine the law to see if the government’s proposed value-added tax (VAT) refund for next year’s Chinese New Year shopping gives a pro-government party undue political advantage ahead of the next election. The Finance Ministry said it is looking into implementing the refund programme to provide an […]

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Thailand: New rules, new paradigm

Property developers are hastily preparing strategies to cope with the Bank of Thailand’s new requirements on mortgage lending, as the measures will have an impact on some homebuyer segments next year. Peerapong Jaroon-ek, chief executive of SET-listed developer Origin Property Plc, said the new requirements will directly affect the speculation market and buyers of second and subsequent […]

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Thailand: BBL predicts digital normal

Bangkok Bank (BBL) expects most basic banking transactions to be made over the digital channel within the next three years. With the online banking boom, 90% of the bank’s basic transactions, including fund transfers and payments, are expected to be done through mobile apps within that period, said Prassanee Ouiyamaphan, executive vice-president of BBL. BBL’s digital […]

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Thailand: Countdown to mortgage requirements

On Nov 9, 2018, the Bank of Thailand announced new requirements on down payment rates for mortgages that will take effect on April 1, 2019. Homebuyers who purchase a residential unit priced lower than 10 million baht and seek a second or subsequent home loan will be required to make a down payment of at least […]

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