Singapore, 3 September 2026
Aphiwat Bualoi, Esq., Managing Partner of Aphiwat Bualoi Law Office, delivered the session “Thailand: Situation and Opportunities” at the AEPA Conference held at Pullman at Hill Street, Singapore. About 160 financial advisers attended.
The firm first joined an AEPA conference in 2023. That visit started a conversation. This talk continued it.
WE SHARE THE CULTURE, NOT THE LAW
Thailand and Singapore start from the same place. Family matters. Elders are respected. Buddhist heritage runs through both societies. The advisers in the room understood the client mindset without any explanation.
The law is where we split. Singapore is a common law country. Thailand runs on a written code, the Civil and Commercial Code. Judges in Singapore develop the law through cases. Judges in Thailand apply the code text. Thai succession law lives in one place, Book 6, sections 1599 to 1755.
That difference decides what happens to a client’s Thai house, Thai condo and Thai bank account.
THREE POINTS FOR ADVISERS
Thai law governs Thai assets. Nationality does not change this. A Singaporean who dies owning a Bangkok condo is inside the Thai system.
A Singapore will does not travel cleanly. A foreign will can be recognised, but proving it over Thai assets is slow and uncertain. A coordinated Thai law will is the safer route.
Thailand has the needs. Singapore has the tools. Bridging the two is where an adviser adds real value.
WHAT IS MISSING IN THAILAND
Thailand has no private trust for succession. The 2007 trust law covers capital markets only. The Private Trust Bill is still not law.
Thailand has no lasting power of attorney. A Thai power of attorney ends when the client loses capacity. Only a medical living will exists.
Thailand has an inheritance tax of 5 percent for ascendants and descendants and 10 percent for others on the value above 100 million baht per heir. The spouse is exempt. The Singapore Thailand tax treaty covers income tax only. It does not cover estates.
Nothing moves without the court. A court appointed administrator is required before a bank or the Land Office will transfer anything. The estate is frozen for months while the family waits.
Foreigners cannot own land. They use leasehold, usufruct, superficies, a Thai company or a condominium. Each one behaves differently on death. A usufruct ends on death and cannot be inherited. That trap surprises many families every year.
WHERE THE OPPORTUNITY SITS
Every one of these gaps has a Singapore answer. No Thai trust means Singapore trust structuring. A frozen estate and a tax bill mean insurance liquidity outside the estate. Ownership limits mean planning the structure before the client buys, not after death. Strict wills and court administration mean a coordinated two country plan.
Thailand is now a complete aged society. About 14.85 million people are 60 or older. The largest transfer of family wealth in Thai history is starting now. The banks serve only the wealthiest. The middle is open.
The adviser structures in Singapore. A Thai lawyer executes in Thailand. Referrals flow both ways.
The session closed on one line. Clients think their plan stops at the border. That is where the opportunity begins.
Aphiwat Bualoi Law Office advises foreign residents, mixed nationality families and Thai families on wills, probate, estate planning and property in Thailand. For enquiries, contact aphiwat@aphiwatlaw.com or visit aphiwatlaw.com.
Aphiwat Bualoi Law Office 
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