PDLegal’s Bangkok office recently acted as Thai legal counsel to Equatorial Space, a global developer of rockets and low-earth orbit space launch vehicles, on its expansion into Thailand through the establishment of a wholly foreign-owned Thai entity to support its research and development and launch services operations in the region.
Led by Papon (Paul) Charoenpao, our Corporate & Commercial team advised on all aspects of the client’s market entry into Thailand, including the incorporation of its Thai subsidiary, a legal feasibility assessment for Thailand Board of Investment (BOI) investment promotion and the successful BOI investment promotion application under the newly launched Thailand FastPass programme.
The transaction culminated in Equatorial Space being selected as one of only 25 flagship projects under the Thailand FastPass programme, the Thai Government’s landmark initiative to accelerate strategic high-tech investments into the country. The programme, which coordinates approvals across multiple government agencies, is designed to significantly streamline investment processes for projects of national importance and has attracted more than US$21 billion in strategic investment.
The matter involved advising a pioneering commercial space-launch developer entering Thailand’s tightly regulated aerospace sector, where there is limited domestic precedent. Working closely with the BOI and the Geo-Informatics and Space Technology Development Agency, PDLegal secured the necessary approvals to enable Equatorial Space to establish and operate its wholly foreign-owned business in Thailand.
Papon (Paul) Charoenpao, Managing Partner of PDLegal Thailand, comments on the transaction:
“This transaction highlights Thailand’s growing position as a destination for advanced manufacturing and technology investment. Advising a pioneering commercial space-launch company on its incorporation in Thailand required the PDLegal team to navigate a highly regulated sector with limited domestic precedent and working closely with government agencies to secure the necessary approvals for Equatorial Space’s investment.”
The PDLegal team was led by Papon (Paul) Charoenpao (Managing Partner, Thailand), with support from Lester Kuo (Associate), Benyapa (Ploy) Hadkaewsakul (Associate) and Norakamon (Aiko) Ariyakanon (Associate).
Read the Board of Investment’s official announcement on the Thailand FastPass programme here.
