Thai Law Changes A Shot In The Arm For Film Industry
http://www.lawsays.net/articles/11692/1/Thai-Law-Changes-A-Shot-In-The-Arm-For-Film-Industry/Page1.html
Gregory Smyth
For nearly 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. We provide international standards of legal services while retaining the customs of the Thai business culture. By Gregory Smyth
Published on 02/1/2012
Think Thailand films and you may believe it stops at Leonardo DiCaprio in The Beach. You would be wrong, of course. Hollywood has made plenty of other big screen hits in this tropical South-East Asian paradise and some of Thailand's home-made films have won critical acclaim. Greater support for filmmakers under Thai business law is strengthening this industry.
Thailand's domestic film industry has long enjoyed popularity and even received critical acclaim internationally. Thai film Uncle Boonmee: Who Can Recall His Past Lives took out the coveted Palme d'Or award at the 2010 Cannes Film Festival for director Apichatpong Weerasethakul.
Changes to Thai law are making the kingdom more attractive for foreign and Hollywood filmmakers.
Incentives including tax concessions are boosting foreign film business investment in Thailand. Thai law consulting firms such as BSA Law have noticed an increase in inquiries about foreign films being shot in the region.
The international law firm in Thailand provides foreign investors with legal and business advice. Thailand offers incentives and concessions through its Board of Investment (BoI).
These privileges include exemption from import duties for filmmaking equipment and a five-year reprieve on corporate income tax. Consulting a Thailand business legal service is the first step toward determining whether an investor qualifies for BoI privileges.
A Cabinet decision was made last year to exempt foreign actors' earnings from tax for films shot in location in Thailand. The move signalled the lucrative nature of the industry.
Insiders have suggested film and crew from R-Rated American comedy cult-favourite The Hangover 2 spent more than 500 million THB during the 40 days of filming in Thailand.
Location permit fees have also been waived under Thailand law to help support business investment in Thailand's film industry.
Thailand's reputation as an attractive destination for foreign filmmakers has been enhanced by the success of Hangover 2 - featuring some stunning scenery around Krabi in southern Thailand - along with The Deer Hunter (Robert De Niro) and Year of the Dragon (Mickey Rourke).
The Thailand Film Office launched a campaign at the 2011 Cannes International Film Festival to highlight the versatility of the country's landscape and how a little creative license could transform it into modern-day China, or even western icons such as New York City.
Since 2007 the office has also operated a one-stop Thai visa service, including streamlining approval for Thailand work permits. These are required for foreigners wanting to work on Thailand soil. Thailand law also requires foreign companies to declare their earnings, although BoI concessions apply.
Beautiful scenery including unspoilt beaches and fast-paced city streets make Thailand a versatile location for film and movie shoots. Spin-offs for the country's tourism industry and the business investment in Thailand provided by international film companies have prompted appealing Government incentives.
Thanks to new provisions under Thai law, consulting the Thailand Film Office could now provide a more streamlined doorway into the country - including a highly-sought after Thailand work permit.
An international film festival being held from January 26-29 in Prachuap Khiri Khan's Hua Hin district is expected to revive the film and tourism industries following the floods.
Following recent tax incentives and other business concessions under Thailand law, there's plenty of reason to expect more Hollywood blockbusters to feature Thai scenery. Just make sure you're watching carefully - the familiar streets of New York may in fact be Bangkok!
Changes to Thai law are making the kingdom more attractive for foreign and Hollywood filmmakers.
Incentives including tax concessions are boosting foreign film business investment in Thailand. Thai law consulting firms such as BSA Law have noticed an increase in inquiries about foreign films being shot in the region.
The international law firm in Thailand provides foreign investors with legal and business advice. Thailand offers incentives and concessions through its Board of Investment (BoI).
These privileges include exemption from import duties for filmmaking equipment and a five-year reprieve on corporate income tax. Consulting a Thailand business legal service is the first step toward determining whether an investor qualifies for BoI privileges.
A Cabinet decision was made last year to exempt foreign actors' earnings from tax for films shot in location in Thailand. The move signalled the lucrative nature of the industry.
Insiders have suggested film and crew from R-Rated American comedy cult-favourite The Hangover 2 spent more than 500 million THB during the 40 days of filming in Thailand.
Location permit fees have also been waived under Thailand law to help support business investment in Thailand's film industry.
Thailand's reputation as an attractive destination for foreign filmmakers has been enhanced by the success of Hangover 2 - featuring some stunning scenery around Krabi in southern Thailand - along with The Deer Hunter (Robert De Niro) and Year of the Dragon (Mickey Rourke).
The Thailand Film Office launched a campaign at the 2011 Cannes International Film Festival to highlight the versatility of the country's landscape and how a little creative license could transform it into modern-day China, or even western icons such as New York City.
Since 2007 the office has also operated a one-stop Thai visa service, including streamlining approval for Thailand work permits. These are required for foreigners wanting to work on Thailand soil. Thailand law also requires foreign companies to declare their earnings, although BoI concessions apply.
Beautiful scenery including unspoilt beaches and fast-paced city streets make Thailand a versatile location for film and movie shoots. Spin-offs for the country's tourism industry and the business investment in Thailand provided by international film companies have prompted appealing Government incentives.
Thanks to new provisions under Thai law, consulting the Thailand Film Office could now provide a more streamlined doorway into the country - including a highly-sought after Thailand work permit.
An international film festival being held from January 26-29 in Prachuap Khiri Khan's Hua Hin district is expected to revive the film and tourism industries following the floods.
Following recent tax incentives and other business concessions under Thailand law, there's plenty of reason to expect more Hollywood blockbusters to feature Thai scenery. Just make sure you're watching carefully - the familiar streets of New York may in fact be Bangkok!