A Foreign Business License in Thailand can be awarded to a Foreign company (majority of the company's shares are owned by Non-Thais) or Foreign investors that wish to operate a business which is normally restricted to Foreign nationals under Thai Law.
If a Foreign company would like to apply for such a license they must first check in the "Foreign Business Act" to verify if the business type that they wish to operate is permitted by Thai Law. Some business types are wholly reserved for Thai Nationals.
Foreign investors and foreign owned businesses can apply for a Foreign Business License at the Foreign Licensing Department of the Ministry of Commerce. The minimum capital requirement for the formation of such a company in Thailand is 2 million THB.
Interesting Fact - The process of obtaining a Foreign Business License is often expedited if a Thai BOI approval is obtained.
According to the Foreign Business Act (Thailand) B.E. 2542 (FBA), there are 3 types of business activities:
Lists 1, 2, or 3 of the Foreign Business Act in Thailand are subject to the limitations imposed by this Act.
Generally, the application process for a Thai Foreign Business License is very lengthy and complex. It may take a minimum of 4 months to receive a decision on the application. For these reasons, Juslaws & Consult strongly suggests that you or your company consults with our Law Firm before you apply for such a license. Our FREE first consultation will show you what exactly is involved before you embark on such a process. Plus we may be able to offer alternative suggestions which can be a better fit for you or your company.