Blumenthal Richter & Sumet

Blumenthal Richter & Sumet assists clients to make confident business decisions. We are commercial and responsive. Efficient and pragmatic. And in a fast-changing world, we create simplicity for clients in the face of increasing complexity for them to make the right decisions, achieve their strategic priorities and identify new opportunities. We take the time to understand each of our client’s unique needs, and provide a solutions-driven commercial view with real in-depth knowledge of your sectors and markets.

For over 40 years, our licensed Thai, European and U.S. attorneys have worked at our clients’ side, understanding your business while serving as a trusted counterpart who knows the law. Assisting you as a team, we collaborate with our clients to navigate not only the legal issues but the regulatory aspects impacting your business sectors.

Our experience in the real estate, automotive, hospitality, manufacturing, infrastructure, construction, transportation, technology, media, telecommunications, energy, chemicals, insurance and healthcare sectors gives us the market perspective to understand your needs and add value for our clients to succeed.

Main Areas of Practice:

Real Estate and Construction: 1 Partner; 6 fee earners based in Bangkok

We have a strong Real Estate and Construction practice with a multidisciplinary team that takes a holistic approach to advising clients. Our attorneys are informed of the latest industry developments and provide specialist advice that is succinct and comprehensive. We undertake sophisticated due diligence projects and advise multinational corporations, institutional investors, private equity funds, SMEs and entrepreneurs on transactions involving all types and classes of real estate assets, including hotel/resort development projects, condominium and residential developments as well as mixed-use property developments.

We frequently advise on industrial acquisitions; construction loans and financing; real estate workouts and restructurings; transactions involving distressed assets; cross-border transactions; all stages of property acquisition and development; drafting commercial contracts for design; construction, operations and maintenance (including permits, licenses and certifications); environmental impact assessments; and Thailand Board of Investment (BOI) privileges. We also guide our clients through the lucrative property sector in Thailand, avoiding pitfalls and navigating restrictions on foreign ownership.

Our real estate and construction services include property acquisitions and disposals, BOI and Industrial Estate Authority of Thailand (IEAT) land ownership rights, registering land leases and property purchases, condominium law, land surveys and property inspections, due diligence on land titles and sellers as well as rights of habitation, possession, servitude, usufruct and superficies.

Recent team experiences include advising:

■ Simon Property Group, Inc., a U.S.-based global leader in premier shopping, dining, entertainment and mixed-use destinations, on its joint venture with Siam Piwat, one of Thailand’s leading retail and real estate developers, to form Siam Piwat Simon for developing the Siam Premium Outlets Bangkok, an outlet near Suvarnabhumi Airport that delivers luxury designer brands and restaurants, valued at THB 4 billion

■ A leading private equity firm focused on innovative hospitality real estate that provides real estate investment funds for under-valued hospitality assets in the Asia-Pacific on a legal due diligence review of current legal issues in connection with the business operations of a leading residential building and condominium company

■ On the development and deployment of a yield bearing stable digital currency that is collateralized against real estate. We are advising on asset selection methodology, risk mitigation protocols and fund raising. Secondary fund raising is principally taking place on a DeFi Platform

Contact: Robert H. Schuler

Tel: +662-022-1078

Email: [email protected]

Tax and Customs: 1 Partner; 4 fee earners based in Bangkok

Whenever there are regulatory changes in Thai tax law, companies have to adapt in order to remain in compliance. During this period, decisions are made on key tax compliance policies and risk mitigation measures should be in place to ensure the decision-making process is unaffected by pressures of the impending regulatory regime. We understand the impact of Thai tax law on your business and how regulatory changes can increase the risks of compliance. Our team, which has been led by Senior Partner Sumet Mingmongkolmitr through years of successive growth, works with clients to enhance compliance decision-making in times of change and identify tax opportunities that are advantageous to your business. We work with you as a trusted counterpart to explore innovative tax solutions and implement successful strategies with your long-term business interests in mind.

Our team advises on intricate local and cross-border taxation issues and has a substantial practice in the importation and exportation of products. We are experienced in the full range of business tax issues including customs duty, transfer pricing, excise tax, value added tax (VAT), personal and corporate income tax, property tax, land tax, transfer pricing and Revenue Department audits. We deliver fast-paced pre-emptive tax solutions and investment strategies.

We also provide legal advice on specific business tax, strategic tax planning, tax-efficient IP structuring, tax on foreign income, double taxation treaties, foreign investment and outbound transactions.

In addition, our team interprets and classifies customs Tariff Codes and challenges customs officers’ conflicting decisions. Our services in this area include Customs Department consultations on Tariff Codes before importation, representation in Customs audits, assisting in Customs disputes including tariff assessments and valuations as well as assisting with pre- and post-importation issues such as import licensing and duty refunds.

We were recently nominated for the Thailand Tax Disputes Firm of the Year in the Asia Tax Awards by International Tax Review. Sumet Mingmongkolmitr, Senior Partner and Head of Tax and Customs at Blumenthal Richter & Sumet, was also nominated for the Indirect Tax Practice Leader of the Year award.

Recent team experiences include advising:

■ One of the largest cement producers in Thailand on regulations under the Land and Building Tax Act and providing complex tax calculations on property tax related to the client’s assets including cement plants, staff housing, clay and shale mines and buffer zones around the plants, valued at over THB 2.9 billion

■ A leading manufacturer of apparels in discussions with the audit section of the Revenue Department regarding input VAT exemptions on products donated to a Foundation and a Women’s Correctional Institution, successfully obtaining a final judgment in favour of our client

■ One of the largest German multinational automotive parts manufacturing companies in the world on discussions with the Post-Clearance Audit Division of Thailand’s Customs Department regarding import tariff declarations, successfully defending the client on grounds of good faith and reaching a settlement agreement to reduce the tariff rates for all disputed products

Contact: Sumet Mingmongkolmitr

Tel: +662-022-1056

Email: [email protected]